https://knews.kathimerini.com.cy/en/news/finance-ministry-s-new-measures-for-vulnerable-in-the-works
The Finance Ministry is considering new measures to support particularly the vulnerable groups of society amid the continuing pressures from high prices and inflation, Makis Keravnos Minister of Finance said on Monday, adding the measures were in the pipeline irrespective of the rating upgrades by Moody’s and DBRS Morningstar....
https://knews.kathimerini.com.cy/en/business/inflation-fears-and-green-investments
The European Central Bank (ECB) has revised its inflation forecast upward, now predicting that inflation will reach 5.6% in 2023 and 3.2% in 2024. ...
https://knews.kathimerini.com.cy/en/comment/opinion/real-estate-boom-in-greece-and-cyprus
The real estate landscapes of Greece and Cyprus are undergoing significant transformations, with both nations showcasing promising growth and recovery. However, beneath the surface of these top-line numbers, there are underlying challenges and disparities that need to be addressed....
https://knews.kathimerini.com.cy/en/news/unexpected-earnings-dip-in-2022-at-€2-202
In a surprising turn of events, Cyprus witnessed its first annual drop in monthly earnings after seven prosperous years....
https://knews.kathimerini.com.cy/en/news/violent-clashes-between-tenants-and-property-owners-as-rents-spike-700
A craftsman in Turkey, who has been diligently paying rent for two decades, now finds himself threatened with eviction due to an unexpected rent increase of nearly 700%. His monthly rent has surged from 3,200 Turkish lira (110 euros) to a staggering 25,000 lira (867 euros)....
https://knews.kathimerini.com.cy/en/news/e-kalathi-takes-on-soaring-fuel-and-food-prices
The ongoing debate within the House Commerce Committee regarding the Retail Price Recording and Monitoring Bill has become both tiresome and contentious....
https://knews.kathimerini.com.cy/en/business/cyprus-banks-net-interest-income-doubles-amid-ecb-rate-hikes
The Cypriot banking system's net interest income (NII) saw a remarkable doubling in the first half of 2023, marking an annual increase of 100%, primarily due to the ongoing rate hikes by the European Central Bank (ECB) aimed at tackling rising inflation....
https://knews.kathimerini.com.cy/en/news/california-boosts-minimum-wage-for-fast-food-workers-to-$20-per-hour
California is raising the minimum wage for fast food workers, marking a hard-won victory for those workers and union organizers....
https://knews.kathimerini.com.cy/en/news/2024-budget-points-to-surplus-and-debt-reduction
The 2024 budget reflects the clear imprint of our policy priorities, President of the Republic Nikos Christodoulides says in a written statement, adding that the fiscal balance for 2024 is estimated to be surplus, reaching 2.2% of GDP, while the medium-term goal, by 2026, is to reduce public debt to 60%....
https://knews.kathimerini.com.cy/en/business/hellenic-bank-cuts-fees-for-customers
Hellenic Bank is taking steps to enhance its services and support its customers. Mr. Phoebus Stasopoulos, the Senior Banking Manager of Hellenic Bank, announced the expansion of the limit for free SEPA transfers through Online Banking....
https://knews.kathimerini.com.cy/en/business/cbc-lowers-gdp-growth-projections-for-2023-and-2024
The Central Bank of Cyprus has revised its growth projections for 2023 and 2024. They now expect GDP growth to be 2.4% in 2023 and 2.7% in 2024, down from their previous forecasts of 2.6% and 2.8%. This is due to Western sanctions against Russia and the fragile external environment affecting professional and non-tourism services....
https://knews.kathimerini.com.cy/en/news/greek-workers-toiling-longer-earning-less
Greeks work 41 hours a week, more than any other Europeans, but are paid less. Monthly salaries do not exceed 1,038 euros on average, according to the latest figures compiled by the Single Social Security Entity (EFKA), ...
https://knews.kathimerini.com.cy/en/business/how-high-is-too-high-before-tax-relief-kicks-in
Diesel prices have dipped by nine cents per liter at gas stations compared to late August, while unleaded 95-octane petrol is now six cents cheaper....
https://knews.kathimerini.com.cy/en/news/€369-million-eib-loan-for-smart-investments
The government has secured a €369 million loan from the European Investment Bank (EIB) with favorable terms to support expenditures and investments within the framework of the "Thalia" program. ...
https://knews.kathimerini.com.cy/en/business/olive-oil-prices-soar-due-to-shortage-and-weather-woes
The price of olive oil is expected to rise dramatically, possibly exceeding 10 euros per liter and reaching 15 euros in Europe, according to agricultural organizations....
https://knews.kathimerini.com.cy/en/business/ministry-on-high-alert-as-fuel-prices-soar-globally
Constantinos Karagiorgis, Director of the Consumer Protection Service at the Ministry of Commerce, Energy, and Industry, has noted a concerning and continuous rise in fuel prices on the international stage. ...
https://knews.kathimerini.com.cy/en/business/consumers-revolt-as-rising-prices-trigger-surge-in-complaints
In recent months, the Pancyprian Consumers Association has been inundated with consumer complaints, particularly following the reinstatement of excise duty on fuel and the termination of electricity subsidies. ...
https://knews.kathimerini.com.cy/en/news/cyprus-inflation-skyrockets-to-3-1-in-august
The annual inflation rate in Cyprus saw a rise to 3.1% in August 2023, up from 2.4% in July....
https://knews.kathimerini.com.cy/en/business/borrowers-in-a-high-stakes-game-of-loan-roulette
In 2023, borrowers face a pivotal year, primarily due to the soaring levels of inflation, rising prices, and increasing interest rates. This year also carries significant importance for banks, not in terms of profits, ...
https://knews.kathimerini.com.cy/en/business/retail-trickery-price-hikes-before-zero-vat-stun-consumers
A recent study by the Cyprus Consumers Association (CCA) has revealed that prices for various essential goods saw artificial increases in the days leading up to the implementation of the zero VAT rate. ...
https://knews.kathimerini.com.cy/en/business/ssm-chief-urges-banks-to-be-prudent-amidst-soaring-profits
The Chairman of the Single Supervisory Mechanism (SSM), Andrea Enria, has emphasized that the gains from high interest rates for banks will eventually come to an end....
https://knews.kathimerini.com.cy/en/news/akel-blasts-government-amid-rising-bank-profits
The political party AKEL has voiced its discontent with the government's handling of economic issues, particularly in light of the recent decision to raise interest rates for the tenth time....
https://knews.kathimerini.com.cy/en/business/zero-vat-rates-fail-to-curb-price-surges
Many products subject to zero VAT rates saw unexpected price increases in July 2023, according to a report by Kathimerini The Consumer Association has raised concerns about the effectiveness of this measure following recent additions to the list of zero-rated items....
https://knews.kathimerini.com.cy/en/business/ecb-raises-rates-for-the-10th-time-as-it-tries-to-quell-inflation
The European Central Bank raised interest rates for the 10th meeting in a row on Thursday to counter stubborn inflation but signalled that it is likely done tightening policy....
https://knews.kathimerini.com.cy/en/news/cypriot-bonds-dive-as-ecb-battles-inflation-surge
The value of Cypriot bonds held by the Eurosystem has dipped below €7 billion as the European Central Bank takes measures to combat inflation. ...
https://knews.kathimerini.com.cy/en/news/government-cuts-interest-income-rates-from-30-to-17
The Cyprus government decided to slash taxation on interest income from 30% to 17%, Finance Minister Makis Keravnos said on Wednesday, noting that banks should follow suit in boosting income for depositors.
...
https://knews.kathimerini.com.cy/en/news/government-extends-zero-vat-on-essentials
The government has decided to extend the application of the zero VAT rate on essential goods for another six months, with Finance Minister Makis Keraynos announcing the addition of coffee and sugar to the list of exempted products....
https://knews.kathimerini.com.cy/en/news/cyprus-grapples-with-9-surge-in-food-prices
Many people are struggling with their daily expenses because food prices keep going up, causing financial stress....
https://knews.kathimerini.com.cy/en/business/ceo-confidence-in-artificial-intelligence-tempered-by-social-ethical-and-security-risks
CEOs globally are embracing opportunities created by AI, but also remain wary of unknown, unintended consequences, according to the findings of the latest EY CEO Outlook Pulse survey. ...
https://knews.kathimerini.com.cy/en/business/cash-only-trend-grows-amid-rising-inflation-in-occupied-territories
The prevalence of merchants and shopkeepers unwilling to accept credit cards is on the rise in the occupied territories, warns columnist Jenq Mutluyakali in a Yeni Dusen article....
