https://knews.kathimerini.com.cy/en/news/hollywood-artists-unite-in-historic-strike
Leaders of Hollywood’s actors’ union voted Thursday to join screenwriters in the first joint strike in more than six decades, shutting down production across the entertainment industry after talks for a new contract with studios and streaming services broke down....
https://knews.kathimerini.com.cy/en/news/cyprus-approves-€361m-supplementary-budget-for-2023
With criticism against the government's agreement for the purchase of the Metropolitan building, which will house the Ministry of Labor and Social Insurance, the Plenary of the House of Representatives approved the supplementary state budget amounting to €361 million....
https://knews.kathimerini.com.cy/en/news/housing-sales-slow-due-to-inflation-and-construction-costs
The value of transactions in the real estate sector amounted to €1.52 billion in the second half of the year, with the market bearing the impact of the interest hikes, inflation and the increased construction cost....
https://knews.kathimerini.com.cy/en/business/inflation-drops-but-food-prices-soar
According to Marios Droussiotis, the president of the Cyprus Consumers Association, inflation is decreasing, but food prices remain excessively high. In an interview with K, he explained that although the overall inflation rate in Cyprus is 1.9%, the prices of food items have increased by 9.8%....
https://knews.kathimerini.com.cy/en/news/fuel-prices-plummet-while-food-costs-soar
Liquid fuels experienced the most significant annual percentage decline in June, dropping by 27.2%. Contributing to a 1.9% inflation squeeze, the lowest point in 25 months, was a 25.6% annual decline in oil prices....
https://knews.kathimerini.com.cy/en/news/cyprus-inflation-at-1-9
Inflation in Cyprus reached its lowest level in 25 months in June 2023 and stood at 1.9% on an annual basis, mainly due to the decline in food prices....
https://knews.kathimerini.com.cy/en/news/european-stocks-rally-on-hope-of-interest-rate-peak
Eurozone inflation fell more than expected to 5.5 percent in June, its lowest rate since the start of last year, but a slight rebound in core consumer price growth tempered any relief for policymakers....
https://knews.kathimerini.com.cy/en/news/bank-of-england-raises-interest-rates-to-5
The Bank of England has raised interest rates by a half point to 5% as part of its efforts to combat high inflation and rising mortgage costs. ...
https://knews.kathimerini.com.cy/en/news/cyprus-banks-to-double-net-interest-income-in-q1-2023
Net Interest Income (NII) for the Cypriot banking sector nearly doubled in the first quarter of 2023, driven by the ECB’s rising interest rates in a bid to contain inflation....
https://knews.kathimerini.com.cy/en/business/nicosia-attracts-millions-in-investment-opportunities
A new investment exceeding 60 million euros is currently in the study phase, focusing on the development of a strategically positioned plot in Nicosia. ...
https://knews.kathimerini.com.cy/en/news/cyprus-economy-thrives-finmin-foresees-robust-growth-and-fiscal-stability
During the 2023 Annual General Meeting of the Cyprus Bankers Association, the Minister of Finance, Mr. Makis Keravnos, discussed the current state and future prospects of the Cyprus economy, particularly focusing on the banking sector. ...
https://knews.kathimerini.com.cy/en/news/annual-inflation-drops-in-cyprus-eurozone-and-eu-compared-to-april
The annual inflation rate was 3.6% in Cyprus, 6.1% in the eurozone and 7.1% in the EU in May 2023, according to figures published by Eurostat, the statistical office of the European Union. ...
https://knews.kathimerini.com.cy/en/news/pork-prices-on-the-rise
In response to the ongoing challenges caused by the pandemic and the conflict in Ukraine, the prices of meat have seen a steady increase, with pork now facing another surge. ...
https://knews.kathimerini.com.cy/en/news/ecb-raises-interest-rate-to-3-20-in-ongoing-tightening-campaign
The European Central Bank (ECB) has announced its decision to raise the interest rate to 3.20%, marking another step in its ongoing monetary policy tightening campaign. ...
https://knews.kathimerini.com.cy/en/news/government-ends-tax-break-fuel-and-electricity-prices-to-rise
The Director General of the Ministry of Finance, Michalis Pantelis, has expressed the government's intention to end the measure of reducing excise tax on fuel and electricity....
https://knews.kathimerini.com.cy/en/news/christodoulides-pledge-to-safeguard-cyprus-reputation
President of the Republic Nikos Christodoulides has stressed that the government will not allow a very small minority of people in the country to tarnish Cyprus' reputation, which was built after many years of effort....
https://knews.kathimerini.com.cy/en/news/former-us-based-bank-executive-to-lead-turkey-s-central-bank
Turkish President Recep Tayyip Erdogan on Friday appointed a former U.S.-based bank executive to head Turkey’s central bank, in another sign that his administration might pursue more conventional economic policies....
https://knews.kathimerini.com.cy/en/news/finmin-underlines-the-importance-of-disciplined-policy
The contact circle with the banks has not been completed, and there will be a new one to adopt measures that will provide relief to borrowers regarding the increased interest rates....
https://knews.kathimerini.com.cy/en/news/imf-says-cyprus-untouched-by-war-fallout
The economy of Cyprus is expected to slow to around 2.5% in 2023, reflecting an erosion in household incomes, tighter financial conditions, and delayed impacts from sanctions against Russia, International Monetary Fund forecasts, after the conclusion of the Article IV consultation with Cyprus...
https://knews.kathimerini.com.cy/en/news/pentecost-weekend-to-boost-tourism-in-protaras
Last-minute reservations are typical for the Pentecost long weekend, as described by tourism professionals....
https://knews.kathimerini.com.cy/en/business/why-are-food-prices-so-high-in-europe
It is the most basic of staple food items: sliced white bread. In Britain, the average price of a loaf was 28 percent higher in April, at 1.39 pounds, or $1.72, than it was a year earlier....
https://knews.kathimerini.com.cy/en/news/erdogan-wins-turkish-election
President Recep Tayyip Erdogan has won Turkey’s presidential election, defeating opposition leader Kemal Kilicdaroglu in Sunday’s runoff vote and stretching his rule into a third decade...
https://knews.kathimerini.com.cy/en/comment/opinion/the-theatrical-hypocrisy-of-passing-the-e-kalathi-bill
In early March, during the Commerce Committee meeting, the first one attended by the current Minister of Energy, the committee chairman, along with all the members, to be fair, urgently requested the government to submit a bill....
https://knews.kathimerini.com.cy/en/comment/opinion/real-estate-a-closer-look-at-prices-and-rental-trends
With the chapter on imposing a reduced VAT rate of 5% on primary residences as a social policy measure finally moving towards resolution, an unresolved issue that has been lingering in the real estate market for years is being addressed....
https://knews.kathimerini.com.cy/en/business/the-controversial-e-kalathi-bill-house-and-stakeholders-remain-unconvinced
The e-kalathi bill fails to convince the House and stakeholders. Yesterday, the Commerce Committee of the House of Representatives held discussions on the matter, with Minister of Energy, Commerce, and Industry George Papanastasiou present....
https://knews.kathimerini.com.cy/en/business/2-may-newsletter-of-k-treppides-co-ltd-cysec
A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in financial advisory and consulting services with offices in three countries....
https://knews.kathimerini.com.cy/en/business/cbc-urges-banks-to-embrace-transformation-for-sustainablefuture
Constantinos Herodotou, Governor of the Central Bank of Cyprus, emphasized the need for Cypriot banks to seize the current favorable circumstances and address impending challenges during his speech at the 2023 ICPAC Mediterranean Finance Summit held in Limassol on Thursday....
https://knews.kathimerini.com.cy/en/news/as-greek-elections-loom-parties-vie-for-votes-of-‘lost-generation
Politicians vying for votes in Greece’s election on Sunday have turned to YouTube and TikTok to win over a younger generation who have long felt that years of crises have cost them their youth...
https://knews.kathimerini.com.cy/en/business/0-vat-rate-the-second-round
Almost two weeks after the zeroing of the tax rate on seven products (bread, eggs, milk, baby diapers, baby food, feminine hygiene products, and adult diapers), the Ministry of Finance and the Ministry of Commerce are in discussions regarding the next list of products that will have a low or reduced tax rate....
https://knews.kathimerini.com.cy/en/business/cypriot-economy-maintains-momentum-but-faces-uncertainties
The Cypriot economy maintained a strong momentum in the first quarter of 2023 with real GDP registering an annual growth rate of 3.4%, marking however signs of a slowdown on the backdrop of the uncertain external environment and the restrictive monetary policy by the European Central Bank in a bid to place inflation under control....
