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1. December Newsletter of K. Treppides & Co Ltd - 06/12/2024

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....

2. Government expands subsidized electricity rates for vulnerable households

The Cyprus Electricity Authority (EAC) announced an important update regarding its special household tariff for vulnerable consumers, known as Code 08...

3. Vatican faces pension crisis despite its wealth

Pope Francis made a surprising announcement this week, revealing that the Vatican's pension fund is in serious trouble and might not be able to pay pensions in the future unless big changes are made....

4. Rising food prices leave Cypriot households struggling

A recent survey reveals that consumers in Cyprus are increasingly worried about their financial future, as rising food costs and economic challenges weigh heavily on households....

5. Greek workers strike over rising costs and low wages

Greek workers are currently on strike today, Wednesday, causing disruptions at ports, and on buses and trains. The nationwide strike, which includes transport workers, doctors, teachers, and construction workers, is a protest against rising living costs and demands for higher wages....

6. Italian village offers €1 homes to Americans following U.S. elections

The small village of Ollolai in Sardinia is making a bold appeal to Americans, who, as non-European Union citizens, are being given preferential treatment in its latest campaign to attract new residents....

7. Government announces new measures to help vulnerable households

In a bid to ease energy expenses for vulnerable groups and promote sustainable housing solutions, the Cabinet approved a set of medium-term measures during its meeting on Tuesday, chaired by President Nicos Christodoulides....

8. Public sector salaries to increase by 1.5% starting October 2024

Cyprus' House of Representatives has passed an agreement between the government and trade unions to implement a general 1.5% wage increase for public......

9. Electricity subsidies and zero vat on essentials to end on October 1st

The Ministry of Finance announced today that starting October 1, 2024, it will stop the staggered electricity subsidy and the zero VAT rate on basic goods. These measures were designed to help households deal with rising costs of living....

10. Odysseas Michaelides removed: Court cites breach of public trust

The court’s extensive ruling regarding the dismissal of Odysseas Michaelides from the role of Auditor General introduces new legal precedents concerning the public conduct of institutional figures and those tasked with serving the public interest....

11. Respect for justice in action, not just words

The Constitutional Court's decision to remove Odysseas Michaelides as Auditor General deserves careful consideration by all involved before making public statements. ...

12. Reasons behind the Auditor General ruling deemed a mockery

Kathimerini's Apostolos Tomaras reports today that the Constitutional Court of Cyprus has ruled unanimously to dismiss Auditor General Odysseus Michaelides following a request by the Attorney General, George Savvidis....

13. Cyprus' Supreme Court suspends Auditor General (UPDATE)

UPDATE: The Supreme Constitutional Court unanimously ruled Wednesday to suspend Auditor General Odysseus Michaelides, citing misconduct and incompetence....

14. Cypriot President criticized for overtime and pension controversies

Last September, Cypriot society witnessed the debacle involving Doxa Komodromou, who, despite being an official, billed the state for overtime at the president's request for events and speeches outside regular hours....

15. 30,000 Boeing workers strike as labor contract rejected

Over 30,000 Boeing workers, about 20% of the company’s workforce, are preparing to strike on Friday after rejecting a proposed labor contract....

16. Politics Blog: Mr. ''Never surrender'' and Donald Trump

In the first televised debate between Donald Trump and Kamala Harris, the standout moment was when the former President claimed that illegal immigrants are eating Americans' cats, dogs, and basically all pets...

17. September Newsletter of K. Treppides & Co Ltd: Financial Conduct Authority

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. ...

18. Paris ranks as Europe’s most expensive city for housing

Paris remains the most expensive city in Europe for free-market housing, with an average price of 14,900 euros per square meter, according to a report by Deloitte....

19. Olympic medalists receive life-changing rewards from home countries

20. Cyprus civil servants to receive pay raises after 15-year freeze

PASYDY, the public sector union, announced its approval of a new agreement with the Ministry of Finance to grant pay raises to civil servants beginning October 1, 2024. The deal was reached during today's Joint Staff Committee meeting....

21. Auditor-General challenges pension misconduct claims

Auditor-General Odysseas Michaelides addressed several contentious issues during the third day of hearings at the Supreme Judicial Council, which is reviewing Attorney General George Savvides' request to dismiss Michaelides for alleged misconduct....

22. Hearing continues in Auditor General suspension case

The Supreme Judicial Council continues to hear Attorney General George Savvidis' request to suspend Auditor General Odysseus Michaelides on grounds of misconduct. ...

23. Consulco hosts London Gin Night for its partners

Consulco Group hosted three unique cocktail parties, under the name “London Gin Night”, dedicated to its customers and partners. ...

24. Philippine Foreign Secretary strengthens ties in Cyprus

In a historic visit to Cyprus, Philippine Foreign Secretary Enrique A. Manalo met with Foreign Minister Constantinos Kombos to discuss strengthening bilateral relations between the two nations....

25. Cyprus achieves €600 million fiscal surplus in Q1 2024

Cyprus generated a fiscal surplus close to €600 million in the first quarter of 2024, marking an increase of 58% year on year, driven by the rise in state revenue which exceeded the rise in spending....

26. 153,000 people struggle with low incomes and high living costs

The share of Cyprus' population at risk of poverty or social exclusion remained steady at 16.7% in 2023, according to the Statistical Service of Cyprus (Cystat). This means that approximately 153,000 people in Cyprus are struggling with low incomes and high living costs....

27. Government clears €564.2 million in outstanding debts

The General Accounting Office of the Republic announced that a significant sum of €564.2 million has been cleared by the government from November 2013 to April 2024. This extensive effort aims to address outstanding debts owed to various government departments and agencies....

28. Millions saved in Cyprus pension reform

The saga surrounding multiple pensions remains in limbo, as two bills navigate the corridors of power, scrutinized by the Presidential office, Cabinet, and Parliament....

29. Consulco's London credit fund shines in Q1 2024

Exciting opportunities are unfolding for the Cyprus-led humanitarian initiative "Amalthea," aimed at delivering vital aid to the Gaza Strip by sea....

30. Cyprus reports €133.1 million increase in March loans

In March, both total deposits and loans saw an upward trend, with liquidity (the difference between loans and deposits) exceeding €27 billion, according to statistics on deposits and loans from Monetary Financial Institutions published today by the Central Bank of Cyprus. ...