https://knews.kathimerini.com.cy/en/comment/opinion/cyprus-illusion-of-prosperity-as-unemployment-numbers-mask-realities
In its analysis, the Central Bank of Cyprus notes that in the first quarter of 2024, unemployment fell to 6%, the lowest level since 2009....
https://knews.kathimerini.com.cy/en/news/ecb-cuts-cypriot-bond-holdings-to-€6-38-billion
The value of Cypriot sovereign bonds held by the Eurosystem, as part of the Public Sector Purchases Programme (PSPP) and the Pandemic Emergency Purchases Programme (PEPP) declined to €6.38 billion......
https://knews.kathimerini.com.cy/en/business/cyprus-inflation-slows-to-2-4-in-july
Consumer prices in Cyprus are rising more slowly, with the annual inflation rate dropping to 2.4% in July, down from 3% in June, according to the Statistical Service of Cyprus (Cystat)....
https://knews.kathimerini.com.cy/en/news/kamala-harris-unveils-economic-plan-with-tax-cuts-and-housing-focus
Vice President Kamala Harris is set to present a comprehensive economic plan during a major policy speech in Raleigh, North Carolina, on Friday....
https://knews.kathimerini.com.cy/en/news/government-confident-in-surpassing-4-growth-in-2024-says-letymbiotis
The government now aims for the 2024 growth rate to exceed 4%, Government Spokesperson Konstantinos Letymbiotis said, following a flash estimate by the Statistical Service for a growth rate of 3.6% (3.7% when adjusted seasonally and based on working days)....
https://knews.kathimerini.com.cy/en/news/uk-unemployment-falls-to-4-2
Britain’s unemployment rate fell to 4.2% in the second quarter, down from 4.4% in the previous quarter, according to data released Tuesday by the Office for National Statistics (ONS)....
https://knews.kathimerini.com.cy/en/news/women-entrepreneurs-hit-hard-by-turkey-s-instagram-shutdown
Turkey's decision to block access to Instagram has dealt a significant blow to female entrepreneurs who rely on the platform to market and sell products ranging from homemade cookies to baby bedding....
https://knews.kathimerini.com.cy/en/news/president-unveils-€9-5m-support-package-for-students-and-families
President Nicos Christodoulides announced a new package of measures aimed at supporting students and alleviating family budgets amid rising inflation and costs. The initiative, titled "Together at Every Beginning," is designed to assist families as the new school year approaches....
https://knews.kathimerini.com.cy/en/news/central-bank-revises-gdp-growth-to-3
The Central Bank of Cyprus (CBC) made a conservative upward revision to the GDP growth rate for 2024, by 0.2 percentage points, to 3%......
https://knews.kathimerini.com.cy/en/news/cyprus-inflation-slows-in-july-after-three-months-of-rising-costs
Inflation in Cyprus took a breather in July after three months of climbing prices. According to new figures released by the Cyprus Statistical Service, the cost of living went up by 2.1% in July. ...
https://knews.kathimerini.com.cy/en/business/bank-of-england-cuts-interest-rates-after-nearly-a-year-of-stability
The Bank of England (BoE) has cut interest rates for the first time since the start of the COVID-19 pandemic, dropping them from a 16-year high. This decision, made by a narrow 5-4 vote, reflects a split among policymakers about whether inflation is under control....
https://knews.kathimerini.com.cy/en/news/athens-and-cyprus-alarmed-by-middle-east-unrest-following-assassinations
Athens is deeply concerned about the recent developments in the Middle East, following the assassination of Hamas political leader Ismail Haniya in Tehran and Hezbollah leader Fouad Shoukr in Beirut....
https://knews.kathimerini.com.cy/en/business/record-surge-in-olive-oil-fraud-amid-rising-prices-of-liquid-gold
The European Union reported a record number of potential olive oil fraud and mislabeling cases in the first quarter of 2024, driven by inflationary pressures and a growing hidden market for the kitchen staple....
https://knews.kathimerini.com.cy/en/news/mcdonald-s-becomes-unaffordable-for-many
McDonald's, once synonymous with affordable fast food, has seen its sales decline as many former customers find its offerings increasingly expensive....
https://knews.kathimerini.com.cy/en/business/fruits-and-perishables-made-of-gold
Soaring retail prices for fresh fruits and vegetables have heavily impacted both consumers and producers in recent months. ...
https://knews.kathimerini.com.cy/en/business/cyprus-ranks-second-in-eu-for-workers-unable-to-afford-vacations
Cyprus recorded the second-largest share of workers unable to afford vacations in 2022 among EU member states, with 25% of its workforce affected, according to an analysis of Eurostat data by the European Trade Union Confederation (ETUC)....
https://knews.kathimerini.com.cy/en/news/eu-plans-two-phase-trade-strategy-if-trump-wins-presidency
Brussels is developing a two-phase trade strategy in response to the potential nomination of Donald Trump in the upcoming U.S. presidential election in November....
https://knews.kathimerini.com.cy/en/news/market-changes-eurobank-s-move-and-economic-struggles
Bank of Cyprus shares were delisted from the Athens Stock Exchange following the 2013 financial crisis and the turbulent merger with Laiki Bank, including the depositor haircut...
https://knews.kathimerini.com.cy/en/news/june-sees-price-hikes-on-essentials-as-inflation-rises
Get ready to pay more for everyday items! Prices for many essential goods jumped in June, driving up inflation to 2.9%. This follows a steady rise from 2.4% in April and 2.7% in May....
https://knews.kathimerini.com.cy/en/news/ecb-keeps-interest-rates-steady-amid-mixed-inflation-signals
The European Central Bank decided today to keep its key interest rates unchanged, as anticipated. This means the rates for main refinancing operations, marginal financing, and deposit facilities remain steady at 4.25%, 4.50%, and 3.75%, respectively....
https://knews.kathimerini.com.cy/en/news/rising-costs-of-utilities-and-dining-out-are-hitting-home
The Harmonised Index of Consumer Prices (HICP) in Cyprus remained steady at 3% in June, according to data released on Wednesday by the Cyprus Statistical Service (CyStat). ...
https://knews.kathimerini.com.cy/en/business/july-newsletter-of-k-treppides-co-ltd-cyprus-securities-and-exchange-commission
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/ice-cream-prices-melt-wallets-by-8-07-more
As temperatures rise, so do the prices of summer essentials in Cyprus, with ice creams, package holidays, and hotel stays seeing noticeable hikes compared to last month, according to data released by the Cyprus Consumers Association....
https://knews.kathimerini.com.cy/en/news/reflect-festival-highlights-traffic-and-housing-challenges-in-limassol
The recent Reflect Festival brought forth crucial discussions on pivotal issues affecting Limassol, prominently featuring traffic congestion and housing shortages as central topics. ...
https://knews.kathimerini.com.cy/en/news/cbc-to-keep-dividends-low-despite-bank-profits
The increased profitability of Cypriot banks, will not affect the supervisory authorities’ views over the necessity to maintain a prudent policy with respect to banks’ dividend payments, the Central Bank of Cyprus said in its annual report for 2023, published on Wednesday....
https://knews.kathimerini.com.cy/en/news/ecb-concerned-over-cypriot-bank-profit-tax-proposal
In 2023, Cypriot banks reported unprecedented profits, marking a 15-year high, with projections suggesting even greater earnings in 2024....
https://knews.kathimerini.com.cy/en/news/how-russian-lng-still-powers-europe-despite-sanctions
The Yakov Gakkel LNG tanker plays a crucial role in maintaining Europe's gas supply, transporting liquefied natural gas (LNG) from Siberia to European terminals....
https://knews.kathimerini.com.cy/en/comment/opinion/fidias-victory-brings-new-hope-to-cypriot-politics
In modern pedagogy, one can distinguish between a young person who reacts to various situations and suggestions of expected behaviour, and another who remains apathetic......
https://knews.kathimerini.com.cy/en/business/zero-vat-on-essential-goods-until-september-2024
Cyprus' Tax Department has announced a zero rate of Value Added Tax (VAT) on essential goods until September 30, 2024, following a decree issued by the Cabinet. This measure aims to alleviate financial burdens on consumers amid economic challenges....
https://knews.kathimerini.com.cy/en/news/banks-contribute-over-€854m-in-taxes-amid-controversy-over-proposed-levy
In the last seven years (2017-2023), Cypriot banks have collectively paid more than €854 million in income tax, special taxes, and VAT, according to a report by Panayiotis Rouglas in last Sunday's Kathimerini....
