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1. Prices drop for most basic goods, but fresh produce keep climbing

Good news for shoppers—most basic goods saw a price drop in February, according to the latest Consumer Price Observatory report from the Consumer Protection Service. However, if you're buying fresh vegetables and greens, you might have noticed your grocery bill going up....

2. ECB cuts interest rates by 25 points as inflation eases

The European Central Bank (ECB) announced on Thursday a fresh interest rate cut, lowering its three key rates by 25 basis points in a bid to support the eurozone economy as inflation gradually eases....

3. Cyprus banks hit record high profits despite ECB rate cuts

Despite the European Central Bank (ECB) preparing for its sixth interest rate cut since June 2023, bank profits in Cyprus have soared, marking two consecutive years of record earnings. ...

4. Global fintech investment falls to seven-year low of $95.6 billion in 2024, but uptick in Q4’24 is a sign of cautious optimism says KPMG’s Pulse of Fintech H2’24

2024 was another difficult year for fintech, with just $95.6 billion of investment globally across 4,639 deals....

5. Nicosia's old GSP transformed into urban park ready for public use

The long-awaited redevelopment of the old GSP site is nearly complete and is set to be handed over to the Nicosia Municipality in March. ...

6. Paphos-Polis ''killer road'' to become four-lane highway after years of delays

The long-debated Paphos-Polis Chrysochous road project is finally moving forward—with a major upgrade. What was once planned as a two-lane highway will now be a four-lane road, a move the government says will improve safety and boost economic growth in the region....

7. The Road to Prosperity

Browsing social media I have recently come across a map showing all the countries with GDP per capita higher than Poland’s back in 1990 and in 2018....

8. Turkish Airlines’ ‘Pet Lounge’ gives furry travelers first-class perks

It seems Turkish Airlines is tired of its furry passengers feeling left out of the first-class treatment. The airline, which already prides itself on flying to more countries than any other, just rolled out a ‘Pet Lounge’ at Istanbul Airport....

9. Starting 2025 with clear skies and cool breezes

Happy second day of the year! How are those New Year’s resolutions holding up? Whether you're sticking to your goals or still easing into 2024, today’s weather is here to keep things calm and enjoyable....

10. Bank of Cyprus rolls out support measures for vulnerable groups

After a tense voting session last week, when the bill to tax bank profits narrowly failed to pass in Parliament, the Bank of Cyprus seems to be stepping up with measures aimed at helping vulnerable communities across the island. ...

11. Cyprus talks stalled: Crossing points block path to UN conference

Negotiations over the Cyprus issue are heating up, with both sides digging in ahead of a potential UN-led international conference in early 2025. ...

12. Moody’s Nick Hill on financial risks and opportunities for 2025

In an insightful conversation with Kathimerini's Panayiotis Rougalas, Nick Hill discusses the key macroeconomic risks and opportunities facing the region in 2025....

13. Sense of optimism surrounds roadblock talks

14. Geopolitical turbulence presents a looming threat to 2025 economic growth

Speaking at the 20th Economist Conference in Nicosia, Nick Hill highlighted the macroeconomic and geopolitical challenges shaping the global financial environment....

15. Hellenic Bank CEO Michalis Louis on merger plans and Cyprus' future

According to Kathimerini's Panayiotis Rougalas, Michalis Louis, in his first interview since becoming CEO of Hellenic Bank, discussed the challenges and opportunities ahead, especially in the context of the bank’s merger plans and its strategies for growth....

16. AI in Finance: Embrace the Future or Be Left Behind

Technology is changing how we do everything, and finance is no different. ...

17. Business loans on the rise in Cyprus, but consumer borrowing takes a hit

Cyprus experienced a rise in net new loans in October, driven primarily by businesses borrowing more, especially for amounts exceeding €1 million. ...

18. 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...

19. Chasing clouds: A week of showers and sunshine

A weak low-pressure system will bring partly cloudy skies and scattered showers to Cyprus today, with a possibility of isolated thunderstorms. Early in the day, rain is most likely along the western and northern coasts, while later, the mountains, inland areas, and the eastern regions may see some wet weather....

20. Cyprus reunification 'off the table', says former U.S. Ambassador, warns Europe not to rely on U.S.

A statesman, a diplomat, and a patriot, John Koenig is the epitome of dedication to service and diplomacy. With a career spanning over three decades, he has served in pivotal roles across the globe, from his time as U.S. Ambassador to Cyprus from 2012 to 2015 to his earlier postings in Belgium, Greece, Indonesia, Italy, and the Philippines. ...

21. Transport Ministry inaugurates new motorway that will ease traffic

According to Kathimerini's Dorita Yiannakou, Cyprus marked a milestone in its transportation network Tuesday with the inauguration of the Nicosia peripheral motorway’s first phase, a project intended to ease congestion, enhance safety, and facilitate trade across the island....

22. Rain and thunderstorms expected

Today's forecast calls for mostly clear skies across much of the island, though residents in northeastern areas may see patches of increased cloud cover, with a chance of isolated showers....

23. Cyprus repays over €1B in debt, easing financial strain

Cyprus made strides in paying down its debt in the second quarter of 2024, settling over €1 billion in bonds and loans....

24. Banks see boost from ECB rate cuts

The Association of the Cyprus Banks (ACB) said on Thursday that it sees further progress in the economy, driven by the reduction of interest rates......

25. Pyramid climbing dog thrills social media users

A dog that climbed a pyramid in Egypt has become a viral sensation on social media....

26. Italy’s migrant transfer deal with Albania gains EU support

Italian Prime Minister Giorgia Meloni feels vindicated in her approach to immigration, as a recent agreement with Albania is emerging as a "model" that several EU member states are now openly discussing, including European Commission President Ursula von der Leyen. ...

27. ECB cautiously prepares for further rate reductions

The intention of the central bankers on the European Central Bank’s (ECB) Governing Council to proceed with another interest rate cut next week, as inflation data proves favorable, is indirectly but clearly reflected in the minutes of their last meeting, released today....

28. Cyprus braces for migrant surge as war in Lebanon intensifies

A year after hostilities erupted in Israel, the conflict has now expanded to Lebanon, reigniting fears about the stability of the Middle East....

29. Russia expels six British diplomats, accusing them of espionage

Russia has expelled six British diplomats, accusing them of espionage, in a move that escalates already strained relations between the two nations. The decision was made public Friday by Russian state media, although the expulsions occurred weeks ago....

30. ECB cuts key interest rate to 3.5% amid slowing inflation and growth concerns

The European Central Bank (ECB) cut its key interest rate by 25 basis points to 3.5%, responding to slowing inflation in the Eurozone and concerns over weak growth. ...