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121. Building materials at their highest since 1986

The Price Index of Construction Materials for January 2023 reached 136.01 units (base year 2015=100), recording an increase of 12.25% compared to the same month of the previous year, according to data published by the Statistical Service on Friday....

122. Frozen fish and flour marked a substantial price increase

Frozen fish and flour recorded a high price increase, according to data published on Wednesday by the Consumer Protection Service of the Ministry of Energy, Commerce and Industry....

123. Nearly 60 million euros in electricity subsidies doled out since September 2022

124. Covid, RSV & influenza are causing a triple epidemic

With regard to seasonal viruses, hospitals seem to be operating in a precarious situation in terms of bed availability. ...

125. The demand for new homes is dwindling

The large investments and development projects mentioned by Minister of Transport and Works Yannis Karousos in his ministry's recent project presentation may have kept the construction and real estate sector afloat until 2022, but the industry still faces challenges....

126. Tesla drastically lowers EV pricing in the US and Europe

After steadily increasing prices over the past couple of years, Tesla has cut them drastically across its lineup in the US and Europe, in an apparent bid to boost sales. ...

127. Supermarkets bet on their own private labeled products

Consumers are turning to private label and exclusive import products to combat inflationary pressures on consumer goods in supermarkets....

128. Housing, water and energy take up 25% of EU household expenses

In 2021, ‘Housing, water, electricity, gas and other fuels’ represented a quarter (25.0%) of EU household expenditure and 17.1% of household expenditure in Cyprus, according to Eurostat, the statistic service of the EU....

129. New loans up despite interest rate hike

Total new loans in November 2022 increased by €172.8m compared to the previous month, despite an increase in interest rates across all loan categories. ...

130. Cyprus rolls out new scheme to subsidize e-vehicles

The budget for subsidizing the purchase of electric vehicles and withdrawing old cars, motorbikes, mopeds and bicycles is at €10 million Transport Minister Yiannis Karousos has said...

131. Cypriot transport minister vows to fix traffic

Transport Minister Yiannis Karousos says the traffic congestion problem in Cyprus can be significantly addressed or even resolved with the implementation of a plan involving various measures and initiatives...

132. According to research, costs for a festive table ranges from €24 to €255

The Cyprus Consumers Association conducted a survey on the cost of the Christmas table as part of its foundation's mission to protect and provide consumers with more complete information. The survey was conducted from December 12 to December 21, 2022....

133. Amsterdam launches 'Stay Away' campaign to discourage types of tourism

Authorities in the Netherlands have decided to introduce in Amsterdam a new campaign called “Stay Away”, in order to discourage specific kinds of tourism....

134. What did Cypriot consumers purchase in 2022?

Cashless transactions have significantly increased since businesses are now required to accept credit or debit cards. Card payments now account for approximately 72% of all commercial transactions, rather than cash. ...

135. Students most frequent internet users in Cyprus

Students are the group most frequently connected to the internet (99%), according to the results of the 2022 household information and communication technology usage survey, published by the Statistical Service on Thursday...

136. Cyprus retail sector continues climb despite inflation

Black Friday, with its high levels of traffic and shopping, appears to have given way to the Christmas holiday season. The market is still moving well, with increased foot traffic in shopping malls and main streets....

137. Consulco launches its direct real estate investment services

Consulco, the London investment specialist has launched its direct real estate investment services assisting overseas investors to acquire and manage residential properties in central London. ...

138. Cabinet approves 'vehicle history database'

The Council of Ministers today approved an amendment to the Motor Vehicles and Traffic Movement Regulations that will create a database that will record the history of vehicles involved in accidents....

139. Cyprus scolded for failing to transpose EU laws

The European Commission has sent letters of formal notice to Cyprus for having failed to notify national measures transposing two directives regarding road safety...

140. Government owed €16.2m from ineligible first time home buyers

More than 270 people who benefited from the reduced rate of 5% VAT for first-time home buyers, have been found to be ineligible, following checks carried out throughout Cyprus by the Tax Department, and should be charged 19% VAT, totaling €16.2 million announced on Wednesday the Minister of Finance, Constantinos Petrides, after the Council of Ministers. He also announced on-site checks on other categories of taxpayers and types of taxes....

141. Black Friday: See how the annual shopping event is shaping up (photos)

On Thursday afternoon, sales began to increase significantly, particularly in shopping centers that benefited from favorable weather conditions, however, as of Friday morning, traffic appears to be somewhat subdued, at least in comparison to the corresponding images from 2019....

142. Small number of banks meeting new loan demand

The net demand for loans from businesses in Cyprus decreased in the third quarter of 2022, and banks anticipate a similar decline in the net demand for loans from businesses and households in all loan categories in the fourth quarter of 2022 compared to the third quarter. ...

143. 50 products specified in Cyprus' 'Household Basket'

The Consumer Protection Service will present its initial proposal for the Household Basket in Cyprus to the stakeholders - the Hypermarkets Association, the Retailers Association, the OEB, and the CEB - at 12 noon on Wednesday. ...

144. Temporary hiring boosts government employment by 0.5% year on year in October

Total government employment in Cyprus rose by 0.5% year on year in October reaching 53,271 persons compared to 53,008 persons in October last year....

145. Post-Brexit UK streamlines EU student visas

Brexit, the legal action initiated by the United Kingdom to leave the European Union, did have an impact on every field, including education....

146. Paphos and Seville named European Capitals for Smart Tourism 2023

The city of Paphos was officially named the European Capital of Smart Tourism for 2023, according to its Mayor Phedon Phedonos....

147. Workplace accidents decreased in 2020, but severity of nearly 50% not specified

In 2020, almost 2.7 million non-fatal work accidents resulted in workers being absent from work for four days or more in the EU, while 3,355 work-related accidents were fatal, according to data released by Eurostat, the European Union’s statistical service....

148. Which products were most affected by the barrage of price increases?

Aside from fuel and electricity, shopping, particularly for necessities, is high on the list of concerns for all households. Prices in various product categories have risen, making life even more difficult for consumers, and the outlook is bleak at the moment....

149. 'Cyprus made': When to expect the branded products

Local products can now be branded as Cypriot-made. After a year of work, consultations, and procedures, as well as research into international examples, a new brand name for Cypriot products has been developed: Cyprus Made - Unique by origin....

150. Cyprus launches label to better market products

The new label and logo 'Cyprus made, Unique by origin' were presented by Energy Minister Natasa Pilides on Monday during the opening of the Industry Week fair...