https://knews.kathimerini.com.cy/en/news/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. ...
https://knews.kathimerini.com.cy/en/news/2-over-215m-covid-vaccines-trashed-€4b-down-the-drain
In a concerning revelation, European countries have disposed of more than 215 million doses of COVID-19 vaccines, originally procured at the peak of the pandemic....
https://knews.kathimerini.com.cy/en/business/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. ...
https://knews.kathimerini.com.cy/en/business/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. ...
https://knews.kathimerini.com.cy/en/news/a-deep-dive-into-food-waste-solutions
A third of all food produced is never eaten, meanwhile millions go hungry. What can be done? Here are six simple solutions to food waste....
https://knews.kathimerini.com.cy/en/news/hellenic-employees-want-share-of-bank-s-excess-profits
The Cyprus Bank Employees' Union (CBCU) has called for a three-hour work stoppage at all Hellenic Banks on Monday, November 6, 2023, from 3:00 p.m. to 6:00 p.m....
https://knews.kathimerini.com.cy/en/news/producers-and-importers-join-forces-to-tackle-tobacco-product-waste
Producers and importers of tobacco products with filters have embarked on a significant environmental initiative, aligning themselves with the European Directive 2019/904/EU....
https://knews.kathimerini.com.cy/en/news/cyprus-tops-eu-in-export-growth-with-55-2-surge-in-august-2023
Cyprus has taken the spotlight as the European Union's top performer in export growth, with a remarkable 55.2% surge in exports during August 2023 compared to the same period in 2022, according to Eurostat, the EU's statistical service....
https://knews.kathimerini.com.cy/en/news/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....
https://knews.kathimerini.com.cy/en/news/ireland-s-tax-policies-fill-sovereign-fund-coffers
Countries like Saudi Arabia, Norway, and Chile have long established their own sovereign-wealth funds....
https://knews.kathimerini.com.cy/en/news/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. ...
https://knews.kathimerini.com.cy/en/news/government-unveils-inflation-relief-plan-for-october-s-end
At the end of October, the government is expected to announce measures to alleviate the impact of inflation, while at the beginning of 2024 the government plans to implement the new green tax on fuels, together with compensatory measures, said the Minister of Finance, Makis Keravnos, while handing over the 2024 state budget to the President of the Parliament, Annita Demetriou.
...
https://knews.kathimerini.com.cy/en/business/moody-s-double-upgrade-ignites-investor-interest
Last Friday, Moody's delivered a double upgrade for Cyprus, propelling the nation into the investment-grade category recognized by all four major financial firms. Although these rankings may appear modest, their real-world impact is substantial....
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/news/focus-on-growth-employment-control-and-surplus-in-the-2024-budget
The 2024 state budget to be tabled to the Council of Ministers for approval next week will have three key characteristics, Minister of Finance Makis Keravnos told CNA....
https://knews.kathimerini.com.cy/en/news/recovery-and-resilience-measures-target-non-performing-loans
In a move to address Non-Performing Loans (NPLs) and maximize European funds, Minister of Finance, Makis Keravnos, announced the approval of an action plan under the Recovery and Resilience Plan. ...
https://knews.kathimerini.com.cy/en/news/akel-s-bold-demand-tax-bank-profits-to-power-people-s-pockets
The AKEL political party is urging the government to take immediate action to alleviate the financial strain on Cypriot households by taxing banks' surplus profits and redirecting the funds towards fuel and electricity subsidies....
https://knews.kathimerini.com.cy/en/news/cyprus-faces-deceleration-amid-inflation-and-rising-rates
Cyprus' economy experienced a slowdown in the second quarter of 2023, prompting inquiries about the situation. According to the preliminary estimate provided by the Statistical Service, ...
https://knews.kathimerini.com.cy/en/news/concerns-rise-over-emergency-grain-stocks
The Grain Advisory Committee is scheduled to convene this morning at 10 am at the Ministry of Agriculture, to engage in a discussion centered around the adequacy of grain supplies within the market. ...
https://knews.kathimerini.com.cy/en/news/gdp-alert-economic-storm-brewing
Former Minister of Finance, Konstantinos Petrides, comments on the GDP results for the 2nd quarter with five observations....
https://knews.kathimerini.com.cy/en/business/eurobank-cyprus-reports-soaring-profits-amid-rising-interest-rates
Eurobank Cyprus posted soaring profitability after tax for the first half of 2023 with net profits approaching the profitability of full year 2022, due to rising interest rates and the high remuneration of its liquidity held at the ECB....
https://knews.kathimerini.com.cy/en/news/government-achieves-€155-5m-surplus-in-2023
Cyprus government's surplus for the first half of 2023 increased to €155.5 million, equivalent to 0.5% of GDP, compared to a deficit of €92.4 million (-0.3% of GDP) for the period of January-June 2022, based on preliminary fiscal results from the Statistical Service of Cyprus.
...
https://knews.kathimerini.com.cy/en/business/npl-crisis-highlights-tug-of-war-between-borrowers-and-legislation
The concealment, or "camouflage," of non-performing loans (NPLs) in commercial banks before 2013 and their subsequent explosion have been, and may continue to be, the most significant challenge for the Cypriot economy. ...
https://knews.kathimerini.com.cy/en/business/the-top-20-professions-that-can-land-you-a-european-work-visa
An astonishing number of 400 different occupations have been classified as shortage occupations in at least one European Union or Schengen Area member state, while another 321 different professions have been listed as a surplus in at least one of these countries....
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/new-cat-feeders-enhance-stray-welfare-in-strovolos
Modern feeders for stray kittens found shelter along the Pedieos River have been installed in Linear Park Strovolos. ...
https://knews.kathimerini.com.cy/en/news/excess-renewable-energy-poses-challenges-for-cyprus
There is an excess production from renewable energy sources that could be extracted, stated the spokesperson of the Cyprus Transmission System Operator (TSO) to CNA....
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/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...
