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241. Cyprus President meets business leaders on HR, energy, and tax

242. Ice cream prices melt wallets by 8.07% more

As temperatures rise, so do the prices of summer essentials in Cyprus, with ice creams, package holidays, and hotel stays seeing noticeable hikes compared to last month, according to data released by the Cyprus Consumers Association....

243. Luxury retailers Saks and Neiman Marcus merge in big deal

A new luxury retail giant is emerging in the United States as the parent company of Saks Fifth Avenue acquires Neiman Marcus for $2.65 billion....

244. Cyprus requests €89.2M in EU grants for recovery plan

The European Commission received a payment request on Thursday from Cyprus for €89.2 million in grants, netting €76.9 million after pre-financing....

245. Greece bucks trend with six-day work week

Greece has introduced a six-day working week for certain businesses in an effort to increase productivity and employment, according to a report by CNBC. ...

246. Green Line: Trade and crossings surge, irregular migration declines

Trade and personal crossings across the Green Line in Cyprus saw significant increases in 2023, while irregular migration dropped by more than 50%, according to the annual European Commission report on the implementation of the Green Line Regulation published Thursday....

247. Cyprus risks losing €657M EU grant for Interconnector project, says Energy Minister

Energy Minister George Papanastasiou expressed concerns over the potential withdrawal of a €657 million subsidy by the European Commission for the electricity interconnection project between Cyprus and Greece......

248. Temu, Shein & Ali Express: EU cracks down on Chinese imports

The European Union is taking steps to clamp down on the surge of low-quality Chinese imports flooding its markets. According to sources speaking to the Financial Times, the EU plans to impose tariffs on cheap products from platforms like Temu, Shein, and AliExpress....

249. Cyprus trade sector sees 20.7% surge in 2022 turnover

Turnover in the broad trade sector increased in 2022 by 20.7%, according to the results of the Wholesale and Retail Trade Survey, published by the Statistical Service on Wednesday....

250. CBC to keep dividends low despite bank profits

The increased profitability of Cypriot banks, will not affect the supervisory authorities’ views over the necessity to maintain a prudent policy with respect to banks’ dividend payments, the Central Bank of Cyprus said in its annual report for 2023, published on Wednesday....

251. Ygea Farm receives accolade for organic egg production

George Konstantinides established Ygea Farm two decades ago in the fertile meadows just outside Mathiatis. ...

252. ECB concerned over Cypriot bank profit tax proposal

In 2023, Cypriot banks reported unprecedented profits, marking a 15-year high, with projections suggesting even greater earnings in 2024....

253. Fitch elevates Hellenic Bank’s credit rating

Fitch Ratings has upgraded Hellenic Bank's Long-Term Issuer Default Rating (IDR) to 'BBB-' from 'BB+', with stable outlook and its Viability Rating (VR) to 'bbb-' from 'bb+'. ...

254. Cyprus and U.S. celebrate strengthened ties at U.S. Independence Day event

The 248th anniversary of U.S. Independence was marked with a grand celebration hosted by the U.S. Embassy in Nicosia on Tuesday evening....

255. Great Sea Interconnector study outlines benefits July 11

The Greek Regulatory Authority for Energy (RAAEU) has made a significant decision regarding the methodology for calculating the regulated revenue......

256. Presidential Palace achieves 'zero waste' milestone

The Presidential Palace has become the first government building in Cyprus to receive the "Zero Waste to Landfill" certification, setting a strong environmental example for the nation....

257. Cyprus higher education sees doubling of student enrollment over past decade

Health Minister Michalis Damianos praised the dramatic growth of Cyprus' student population during a graduation ceremony at the University of Frederick in Nicosia on Friday....

258. Employee earnings in Cyprus rise by 5.7% in early 2024

The average gross monthly earnings of employees in the first quarter of 2024 increased by 5.7%, reaching €2,378, compared to €2,251 in the same period of 2023, according to preliminary data from the Statistical Office....

259. Zero VAT on essential goods until September 2024

Cyprus' Tax Department has announced a zero rate of Value Added Tax (VAT) on essential goods until September 30, 2024, following a decree issued by the Cabinet. This measure aims to alleviate financial burdens on consumers amid economic challenges....

260. Banks contribute over €854M in taxes amid controversy over proposed levy

In the last seven years (2017-2023), Cypriot banks have collectively paid more than €854 million in income tax, special taxes, and VAT, according to a report by Panayiotis Rouglas in last Sunday's Kathimerini....

261. Monthly car auction returns to Larnaca, featuring Bank of Cyprus vehicles

Car enthusiasts and bargain hunters alike will converge once again on Mosfiloti, Larnaca, as the monthly car auction resumes its cycle....

262. KEDIPES hits €1.36B milestone in state aid repayments

KEDIPES has announced a €60 million cash repayment made on June 26, 2024, as part of its ongoing efforts to repay state aid received by the former......

263. Top Cypriot producers honored for their culinary excellence

Ten Cypriot agri-food producers were honored at the 10th ''Gastronomos'' Quality Awards on Thursday evening, June 27, 2024. The event, held at the old Nicosia Town Hall, celebrated a decade of achievements in Cypriot gastronomy and the promotion of local products....

264. 10th Gastronomos Quality Awards tonight

On Thursday evening, June 27, the 10th Gastronomos Quality Awards will take place at the Old Nicosia Town Hall in Eleftherias Square, celebrating under the motto "Our place. Our people."...

265. ICT sector powers Cyprus' economic growth

Almost all of the productivity growth in Cyprus' economy over the past three years can be attributed to the Information and Communication Technology......

266. Cypriot producers to be feted at 10th Gastronomos Quality Awards

Gastronomos magazine and Kathimerini newspaper are set to honor Cypriot producers at the 10th annual Quality Awards ceremony, highlighting a decade of dedication to preserving the island's rich culinary heritage....

267. Eurobank gains green light for 100% acquisition of Hellenic Bank

The Cyprus Securities and Exchange Commission (the “CySEC”) approved on 25 June 2024, the publication of the Takeover Bid Document for the acquisition by Eurobank S.A. of up to 100% of the issued share capital of Hellenic Bank, whose shares are listed on the Main Market of the Cyprus Stock Exchange (“CSE”). ...

268. Cyprus has a long way to go when it comes to EV's

Cyprus lags behind the rest of the European Union in the adoption of battery electric vehicles (BEVs), according to data from the European Alternative Fuels Observatory (EAFO). While growth is noted and targets seem achievable, the country's rate of electric car use remains among the lowest in the EU....

269. KEDIPES sends first approvals for mortgage-to-rent scheme

State-owned asset management company, KEDIPES began sending the first approvals for eligible borrowers as part of the government-funded mortgage-to-rent scheme....

270. EIB to open local office in Cyprus

The Ministry of Finance announced the opening of a local office of the European Investment Bank (EIB) in Cyprus, highlighting the significant benefits it will bring to the country....