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31. EY Cyprus releases the Cyprus Tax Facts Guide 2024

EY Cyprus is delighted to announce the release of the latest edition of the Cyprus Tax Facts guide for the year 2024....

32. African migrants pivot to U.S. amid Europe's closing doors

As Europe tightens its immigration policies, an increasing number of African migrants are setting their sights on the United States for a fresh start....

33. Global economy faces worst 5-year period in 30 years

The World Bank projects a sluggish global economy from 2020 to 2025, marking the worst five-year period in the last three decades....

34. Persianis reveals limited cooperation with Finance Ministry

For the limited cooperation with the Ministry of Finance, for the wrong interpretation of the research with a political prism and for the fiscal risks, the President of the Fiscal Council of Cyprus......

35. Greece rolls out 'climate resilience levy' to fund post-disaster reconstruction

In an effort to finance reconstruction projects following severe forest fires and floods, the Greek government has introduced a new accommodation tax, referred to as the 'climate resilience levy.'...

36. US cities struggle as record 36,000 migrants arrive

The United States finds itself at a pivotal moment as cities across the nation grapple with a surge in migrants, placing President Joe Biden under increasing pressure from both Republicans and Democrats....

37. Cyprus unveils new e-consultation platform for public feedback

The Council of Ministers approved Thursday the establishment of a public consultation platform, known as e-consultation, Minister of Finance Makis Keravnos said after the Cabinet meeting....

38. Cyprus grapples with lingering private debt woes

In Cyprus, the European Commission consistently highlights the significant economic challenge of private debt through regular post-program or post-memorandum reports....

39. Finance Ministry undergoes administration overhaul

40. Wolfgang Schäuble, former German Finance Minister, dies at 81

Wolfgang Schäuble, the influential former German Finance Minister and speaker of the Bundestag, passed away at 81, leaving a profound mark on European financial affairs....

41. 2024 budget gets green light – Inside scoop on state wage proposals

The 2024 budget was passed into law relatively comfortably, with a total of 37 MPs voting for it, while 19 were opposed. ...

42. CBC warns of non-performing loan surge amid economic challenges

The Central Bank of Cyprus (CBC) issued a warning on Monday, cautioning about the potential influx of non-performing loans (NPLs) driven by high-interest rates and inflation, which are impacting households' disposable income and businesses' profitability....

43. Themis Themistocleous signals potential 2024 interest rate cut

In their ''Year Ahead 2024'' forecast, analysts at Swiss financial giant UBS anticipate a slowdown in the strength of the US economy throughout 2023. ...

44. Cyprus economy receives positive rating boost

Fitch, the International Rating Agency, upgraded Cyprus' long-term rating to positive, citing economic resilience and fiscal strength. The agency affirmed the 'BBB' rating, previously upgraded in March 2023. ...

45. Cyprus-France convention breaks fiscal barriers

In a strategic maneuver to bolster economic collaboration, Cyprus and France are gearing up to sign a pivotal Convention on Monday in the capital city of Nicosia....

46. Parekklisia students walk out, demand swift infrastructure attention

In a poignant demonstration against the school's crumbling infrastructure and alleged governmental negligence, students of Parekklisia Primary School orchestrated a two-hour walkout, seizing the streets with fervent calls for change....

47. ''The path to fighting inflation is difficult''

In an insightful dialogue about the economic landscape, Joachim Nagel, a prominent figure in the financial realm and a member of the ECB Governing Council, shares his perspectives on inflation, interest rates, and the challenges facing the European economy....

48. Fiscal Council cautions on 2024 economic risks despite optimism

Recently, the Cyprus Fiscal Council took a close look at how our economy is doing. They gave us some important info based on their study....

49. €620M blueprint for transformative projects

The overall projects, totaling almost €620 million, are outlined in the Ministry of Internal Affairs Budget....

50. Cyprus gets BBB+ boost in latest ratings, but challenges persist

The German Scope Ratings have given a positive sign for Cyprus by upgrading the country to BBB+ last Friday from the previous BBB while keeping the outlook of the economy stable. ...

51. Shakira's €14.5m showdown ends with a €7m encore

Pop star Shakira has gracefully sidestepped a €14.5 million tax trial in Spain, sealing a last-minute deal with authorities just as proceedings were set to commence....

52. Central banks across Europe hold firm amidst rate cut speculations

Europe's top central bankers have affirmed that despite market expectations for a reduction due to weakening growth, interest rates will persist at elevated levels. ...

53. Cyprus banks bracing for profit squeeze according to Moody's

Moody's believes that Cyprus' small and saturated banking sector, the banks' limited loan portfolio, and low fee and commission income will restrict opportunities for growth in domestic banks' activities and profitability in the long term....

54. PPC becomes new owner of ''Kotsovolos'' in €200 million deal

In a significant development, PPC, the Greek energy company, has emerged as the new owner of the popular retail brand "Kotsovolos." This transition was facilitated through a deal with the British group Currys, valuing the acquisition at €200 million, entirely free from loans and lease obligations....

55. Biden's cabinet seeks $105 billion aid for Israel and Ukraine

Defense Secretary Lloyd Austin and Secretary of State Antony Blinken will make the case Tuesday that the United States should immediately send aid to Israel and Ukraine, testifying at a Senate hearing as the administration’s massive $105 billion emergency aid request for conflicts in those countries and others has already hit roadblocks in the divided Congress. ...

56. Assessing the dual impact of government's support measures

Recent days have witnessed crucial discussions surrounding measures to support households and businesses, a pressing necessity given the prevailing circumstances....

57. New measures unveiled for energy and housing

In a decisive move to support Cyprus' households and businesses, the Council of Ministers, under the leadership of President Nikos Christodoulides, unveiled a comprehensive package of immediate and medium-term measures today....

58. ECB set to keep rates steady, says Central Bank of Cyprus governor

No interest hikes are expected in the next European Central Bank Governing Council meeting, as the latest available recent data suggest that the ECB rates have reached a level that, if maintained, will contribute to the return of inflation to the medium-term target of 2%, Constantinos Herodotou, Governor of the Central Bank of Cyprus and ECB Governing Council member told CNA on Wednesday....

59. Piki shares the government's tech-powered 6-year plan

The government is ramping up the execution of a series of projects, bolstering resources and expertise in collaboration with the Deputy Ministry of Research, Innovation, and Digital Policy, according to Irene Piki, Deputy Minister to the president....

60. Government to expand workforce in 2024

In the 2024 budget, authorities anticipate total general government revenue of €13.2 billion and expenditures of €11.8 billion, resulting in a fiscal surplus of €659 million, equal to 2.2% of GDP. ...