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151. Three major concerns of ECB regarding Cypriot banks

Although Cypriot banks have made great progress over the last decade, foreign supervisors have reservations and summarise their concerns in three areas....

152. Higher prices for Easter meat: Lamb sees a 25% increase, beef up by 15%

A year ago, reports described Easter dinner as the most expensive in four years. This year's prices are expected to surpass that record, according to the first data from the Easter Price Watch gathered by K and soon to be published by the Consumer Protection Agency....

153. Government casual staff up, permanent down 3.3%

Total government employment decreased by 3.3% in March 2023, compared to March 2022, according to data published by the Statistical Service on Tuesday. Total persons employed by the Government amounted to 1,778 and reached 52,103 persons...

154. EU calls on aspiring journalists to train in Brussels

The European Commission has announced that it has launched a call for journalism students and young journalists to participate in Youth4Regions, an EU program for budding journalists that includes a week of training in Brussels....

155. €130M grant plan proposed for 358 refugee apartment buildings

In an effort to effectively manage buildings in government housing estates and address observed structural issues, the Ministry of Interior has prepared a comprehensive Sponsorship Plan to be presented at Friday's Cabinet meeting. ...

156. Investors flock to 'green' bonds as a secure investment

157. Cyprus scraps online visa appointments after scandal

Immigration authorities in the Republic of Cyprus scrapped an online appointment platform on Monday after allegations were made public about agents selling available slots to foreigners for profit and causing months of waiting for those who did not shell out the cash...

158. Inflation sees downward trend for 7th month in a row

The cost of living in Cyprus has decreased for the seventh month in a row, with the rate of inflation dropping to 6.7% in February. This is down from a peak of 10.6% in July 2022. ...

159. MEP's pass bill banning home sales or rentals without energy upgrade

All properties available for sale or rent must incur compulsory energy upgrade costs, costing tens of thousands of euros, from 2030 onward, based on what is stated in the relevant European Union directive....

160. Real estate trends in 2023

Increased inflation, rising interest rates, rising building costs, rising property values, a slight decline in new development approvals, a slight decline to stabilization in the unemployment rate, a slight increase in GDP, and a slight decline in private lending are just a few indicators of the (very) general economic picture....

161. Consumers cutting back on non-essential items as cost of living rises

As the cost of living crisis continues to rise globally, consumers have drastically adjusted their spending behaviors, with the majority (53%) of global consumers “holding back” on non-essential spending. ...

162. 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....

163. 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....

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

165. 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. ...

166. 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....

167. 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. ...

168. 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....

169. 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....

170. 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. ...

171. 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...

172. 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...

173. 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....

174. 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....

175. 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. ...

176. 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...

177. 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....

178. 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. ...

179. 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....

180. 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...