https://knews.kathimerini.com.cy/en/news/zero-vat-on-basic-daily-goods-goes-into-effect
A Council of Ministers decision for a zero VAT rate on a range of basic daily goods such as bread, milk, eggs, children's food, diapers, feminine hygiene products, and adult diapers comes into effect on Friday...
https://knews.kathimerini.com.cy/en/news/100-cypriot-wines-to-feature-new-winecore-logo-on-packaging
The wine industry in Cyprus is at a turning point, as coordinated upgrading and promotion efforts are underway in both the private and public sectors. ...
https://knews.kathimerini.com.cy/en/business/e-kalathi-your-digital-tool-for-smart-shopping
Based on the timeline, the implementation of e-kalathi, the new digital platform for monitoring retail product prices, is expected to take place around early 2024....
https://knews.kathimerini.com.cy/en/business/cyprus-faces-economic-losses-due-to-rejected-renewable-energy-production
The issue of storing electricity from renewable energy sources has become a problem due to extensive production rejections of both large and small photovoltaic parks by the Transmission and Distribution Operators on Easter Sunday and Monday in Cyprus....
https://knews.kathimerini.com.cy/en/business/bill-for-e-kalathi-product-price-comparison-app-submitted-for-cabinet-approval
The bill for the implementation of a digital tool that enables daily information on retail prices and product comparisons is ready for submission to the Cabinet....
https://knews.kathimerini.com.cy/en/business/government-continues-measures-to-counter-inflationary-pressures
The government of Cyprus has decided to continue measures aimed at countering inflationary pressures, including an extension of a subsidy on electricity consumption and a reduced excise tax on fuel....
https://knews.kathimerini.com.cy/en/news/surplus-of-€363-mn-recorded-in-cyprus-in-jan-feb-2023
A surplus of €363 mn or 1.3% of GDP for the period of January-February 2023, according to the preliminary General Government fiscal results, published by the Statistical Service of Cyprus on Friday....
https://knews.kathimerini.com.cy/en/news/philip-lane-next-ecb-decisions-on-interest-rates-will-be-based-on-data-video
Philip Lane, the Chief Economist and member of the European Central Bank's (ECB) executive board has said the bank's next monetary policy decisions will be based on incoming data,...
https://knews.kathimerini.com.cy/en/business/bp-and-adnoc-s-bold-bid-for-the-leviathan-field
Last Tuesday, British multinational oil giant BP and Emirati Abu Dhabi National Oil (Adnoc, the UAE's state oil company) announced a joint bid to buy 50% of Israel's NewMed Energy in a $2 billion deal. ...
https://knews.kathimerini.com.cy/en/business/cbc-estimates-gdp-growth-at-2-6-in-2023
The Central Bank of Cyprus (CBC) has marginally upgraded its projections for GDP growth this year citing the slightly improved prospects in the external economic environment and the anticipated lower energy prices, amid the continued war in Ukraine....
https://knews.kathimerini.com.cy/en/news/many-cypriots-climate-aware-and-ready-to-fight
According to the European Investment Bank's (EIB) annual Climate Survey, 83% of Cypriots under 30 consider the environmental impact of their future job to be a significant factor in their career choice, while 25% consider it a top priority....
https://knews.kathimerini.com.cy/en/news/cocaine-use-in-cyprus-low-compared-to-european-average
Larnaca and Limassol have the highest use of methamphetamine in Cyprus, according to a study conducted by the European Monitoring Centre for Drugs and Drug Addiction....
https://knews.kathimerini.com.cy/en/business/digital-app-to-compare-product-prices-in-the-works
Following the withdrawal of the Household Basket proposal in Cyprus, the Consumer Protection Service is now promoting the preparation of a bill for the implementation of a digital tool that will enable the daily comparison of retail prices of products....
https://knews.kathimerini.com.cy/en/news/cyprus-gdp-and-employment-up-according-to-eurostat
Both GDP and employment increased during the 4th quarter of 2022 compared to the previous quarter in Cyprus, while in the eurozone GDP remained stable and employment increased and in the EU GDP fell and employment increased, according to estimates released by Eurostat, the statistical service of the EU....
https://knews.kathimerini.com.cy/en/news/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. ...
https://knews.kathimerini.com.cy/en/news/lower-deposit-and-mortgage-interest-rates
The interest rates for household deposits and housing loans slightly decreased in January, while interest rates for non-financial corporations increased, according to data published by the Central Bank of Cyprus on Friday. These statistics are included in the February 2023 Monetary and Financial Statistics edition....
https://knews.kathimerini.com.cy/en/news/government-surplus-of-€609-5-million-for-2022
General Government preliminary fiscal results published by the Statistical Service of Cyprus on Tuesday indicate a surplus of €609.5 mn, equal to 2.3% of GDP, for the period of January-December 2022, compared to a deficit of €402.8 mn or 1.7% of GDP, that was recorded during the period of January-December 2021....
https://knews.kathimerini.com.cy/en/news/electricity-subsidies-extended-for-another-two-months
The Council of Ministers, which convened on Wednesday for the last time under outgoing President of the Republic Nicos Anastasiades, approved the extension of a subsidy for the cost of electricity consumption as well as reduced excise for specific products....
https://knews.kathimerini.com.cy/en/news/eu-s-natural-gas-consumption-drops-by-19-3
The EU consumption of natural gas has dropped by 19.3% in the period August 2022 - January 2023, compared with the average gas consumption for the same months (August - January) between 2017 and 2022, according to information from member state official sources and reported by Eurostat, the statistical service of the EU....
https://knews.kathimerini.com.cy/en/business/lidl-cyprus-is-constantly-reducing-its-energy-footprint-and-contributes-to-the-protection-of-the-environment-on-a-daily-basis
This year, the company was also certified with the ISO 50001 for its energy management system and for the first time it attained green certificates for 100% of the energy supplied by EAC....
https://knews.kathimerini.com.cy/en/news/cyprus-use-of-renewable-sources-for-electricity-rising-despite-slow-progress
Despite slow progress, Cyprus still ranks fifth from last in the use of renewable energy sources for electricity....
https://knews.kathimerini.com.cy/en/business/no-more-fridays-4-day-work-week-on-the-rise
The results are in: It's time for your company to stop working on Fridays (or Mondays)....
https://knews.kathimerini.com.cy/en/news/cyprus-aims-for-higher-targets-in-green-energy
In 2022, renewable energy sources now make up a larger percentage of total energy consumption. ...
https://knews.kathimerini.com.cy/en/news/ten-hotels-in-cyprus-malta-and-greece-replace-single-use-plastics
Ten tourist accommodations in Cyprus, Greece, and Malta participated in a pilot project that saw the implementation of these solutions....
https://knews.kathimerini.com.cy/en/business/exports-of-halloumi-at 1-34-billion-over-the-last-5-years
Halloumi exports have increased in recent years and are expected to peak in 2022. Data for the first nine months of 2022, i.e. up to September, show exports worth €227 million and an export volume of 32,000 tonnes. ...
https://knews.kathimerini.com.cy/en/news/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. ...
https://knews.kathimerini.com.cy/en/news/economic-events-that-will-be-remembered-in-2022
The energy crisis, which intensified after Russia's invasion of Ukraine and resulted in skyrocketing gas prices, took the lead throughout the year....
https://knews.kathimerini.com.cy/en/business/ey-future-consumer-index-consumers-opt-for-caution-this-holiday-season
EY Future Consumer Index: consumers opt for caution this holiday season to cope with rising cost-of-living and environmental concerns, new data finds ...
https://knews.kathimerini.com.cy/en/news/new-gas-field-discovery-in-cyprus-eez
The drilling rig of the ENI-TotalEnergies consortium in the Cyprus EEZ has discovered a new gas field at the Zeus 1 target. This is a larger field than the one discovered by the Italian-French consortium on 22 August in the same block (Block 6)....
https://knews.kathimerini.com.cy/en/news/electricity-subsidies-extended-to-february-2023
The Council of Ministers met yesterday under the chairmanship of the President of the Republic Mr. Nicos Anastasiades and approved the extension for two additional months of the measure concerning the subsidy by the State of part of the cost of electricity consumption...
