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61. Cyprus' annual inflation rate at 9.0%, lower than EU's 9.9%

The euro area's annual inflation rate was 9.9% in September 2022, up from 9.1% in August and up from 3.4% a year earlier, according to figures published by Eurostat, the statistical office of the European Union....

62. The ECB's next steps were documented in Limassol

The two-day conference of Central Bank Governors in Limassol is a strong contender to serve as the foundation for decisions on monetary policy and inflation strategy to be made in the coming period. ...

63. The heart of the ECB beats in Cyprus

The second consecutive visit of European Central Bank President Christine Lagarde in 2022 is certainly semantic. Apart from the visibility of Cyprus being the first visit by Central Bank Governors as part of the decision to visit a country on an annual basis to hold one of their meetings, two other readings emerge....

64. ECB hikes up interest rates 75 basis points to 1.25%

The European Central Bank raised its key interest rates by an unprecedented 75 basis points on Thursday and signalled further hikes, prioritising the fight against inflation even as the bloc's economy is heading for a likely winter recession....

65. Euro at new 20-year low against the US dollar

The euro slipped to a new twenty-year low due to fears of increased inflationary pressures and an impending recession in Europe as a result of the energy crisis....

66. Deaf people can now ‘see’ conversations thanks to subtitle glasses

A company has created augmented reality spectacles that place subtitles on conversations happening in the real world....

67. Italy's PM resigns spelling trouble for Europe

Italian prime minister Mario Draghi has resigned, ending a national unity government formed to tackle unpopular reforms and spelling trouble for Europe at a time of acute economic challenges....

68. Greece: Covid infected tourists no longer required to quarantine

A new government decision issued by the Greek authorities earlier this week has established that tourists who get infected with the COVID-19 disease while being in Greece will not be required to go into quarantine. ...

69. Herodotou: 'Interest rates should be increased gradually'

The Governor of the Central Bank of Cyprus, Constantinos Herodotou, said he was in favor of the ECB gradually increasing key interest rates while keeping its options open, stressing that the European Central Bank should consider the impact of each increase and act accordingly....

70. Cyprus looks to become global crypto hub with new bill

Cyprus is vetting a cryptocurrency “umbrella” bill in a bid to establish the Mediterranean nation as a premier destination for digital asset innovators and companies....

71. Cyprus' unemployment rate down from 8.4% to 5.4% compared to last year

The seasonally-adjusted unemployment rate in Cyprus reached 5.4% in April 2022, decreasing from 5.8% last month and from 8.4% in April 2021, according to figures published by Eurostat, the statistical office of the European Union....

72. Lagarde: Cyprus will be affected by inflation and rising energy costs

Cyprus will be affected by inflationary pressures and higher energy costs due to its dependence on oil imports for electricity generation, according to European Central Bank President Christine Lagarde....

73. Sergei Guriev: Ukraine was a ‘major miscalculation’ by Putin

What Russian President Vladimir Putin was hoping to accomplish by invading Ukraine on February 24 was “another Crimea effect (in 2014 his approval rating grew from 60 to 90%),”...

74. Eurostat: Unemployment at 6.4% in Cyprus in December

In December 2021 seasonally-adjusted unemployment rates dropped to 7.0% and 6.4% in the eurozone and the EU respectively, recording a slight decrease compared to November and more significantly compared to last year, according to figures published by Eurostat, the statistical office of the European Union....

75. Inflation in Cyprus and the EU rose to 4.4% in October

The annual inflation rate in Cyprus was 4.4% in October, slightly above the eurozone average (4.1%) and the EU average,...

76. Southern European banks set for climate hit

Banks in southern Europe are set to be among the hardest hit if climate change is not mitigated as their clients are most exposed to natural hazards such as wildfires,...

77. Banks must prepare for a new cycle of NPLs due to Covid-19

Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) told Cyprus commercial banks to prepare to face a new cycle of non-performing loans in 2021 due to the coronavirus pandemic....

78. Cyprus plans to tap into ESM’s pandemic credit line

Cyprus will tap into the European Stability Mechanism’s Pandemic Crisis Support fund to cover its elevated healthcare expenditure which came as a result of the coronavirus outbreak, Finance Minister Constantinos Petrides said Thursday. ...

79. Eurozone set for record recession, EU Commission warns

The eurozone economy will contract by a record 7.7 percent this year because of the Covid-19 pandemic and inflation will almost disappear while public debt and budget deficits will balloon, the European Commission forecast on Wednesday....

80. Lagarde draws line on how far ECB largesse can go

European Central Bank President Christine Lagarde drew the line on how far the ECB could go in helping virus-stricken eurozone countries on Wednesday, saying lending to governments directly would be illegal and handing out cash to citizens difficult....

81. Coronavirus derails southern Europe's clean-up from the last crisis

This year was meant to mark a turning point for Greek and Italian banks as they finally laid the ghosts of the financial crisis to rest. Then the coronavirus struck....

82. Covid-19 death toll in Greece rises to 81

Greece’s coronavirus toll has risen to 81 with the death of a 42-year-old man in the northern port city of Thessaloniki and of an 84-year-old woman in Athens....

83. EU leaders call for recovery plan

Cypriot President Nicos Anastasiades took part in a video conference with the EU leaders, as the bloc sought to find common ground on how best to share the burden...

84. CEOs: Drop in Optimism and Reversal of Sentiment

85. Coronavirus cases in Greece rise to eight

Greece has confirmed a new case of coronavirus, the Health Ministry said Wednesday, bringing the total number of coronavirus infections in the country to eight....

86. Greece reports fourth COVID-19 case, Eurozone says 'ready to act'

As health authorities confirmed the fourth case of coronavirus in Greece on Friday, the Greek government pressed forward with its drive to contain its spread. ...

87. Banks must find new profitable products, CBC Governor says

The task of securing alternative profitable products besides lending is the biggest challenge for banks in small countries such as Cyprus, Central Bank Governor Constantinos Herodotou said on Friday....

88. Mitsotakis in New York – opportunities, substance, results

This week will see the first appearance of Prime Minister Kyriakos Mitsotakis at the United Nations General Assembly. He will make the customary speech before the plenary and be received by the UN secretary-general. However, the substance will be in the meetings that are to take place on the sidelines of the proceedings. ...

89. Macron sends stern warning to Ankara

In a show of solidarity with Cyprus, French President Emmanuel Macron sent a stern message to Turkey on Thursday that Paris and the European Union will not tolerate violations in the Eastern Mediterranean...

90. Eurogroup rules out any talk of primary surplus target reduction for Greece

Discussion on Greece was brief at Monday’s Eurogroup, but the council of eurozone finance minsters sent a clear message to Athens that creditors are ready to cooperate with the new government while warning that the handouts announced in May by the previous administration are putting growth and fiscal targets at risk...