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241. European stocks rally on hope of interest rate peak

Eurozone inflation fell more than expected to 5.5 percent in June, its lowest rate since the start of last year, but a slight rebound in core consumer price growth tempered any relief for policymakers....

242. Cyprus joins campaign to boost seafarer recruitment

To mark the 'Day of the Seafarer' on June 25, the International Chamber of Shipping (ICS) partnered with its Members, including the Cyprus Shipping Chamber, to launch a Seafarers Recruitment Campaign Film titled 'An Adventurous Spirit' ...

243. Cyprus slips in global competitiveness rankings for third consecutive year

Cyprus has experienced a decline in its global competitiveness for the third consecutive year, dropping from the 40th position to the 45th out of 64 countries in the IMD World Competitiveness Center rankings....

244. Crackdown on counterfeit goods results in seizure of over 1,700 items

In a targeted operation conducted last Monday, June 19, the Police and Customs Department successfully seized over 1,700 items of clothing and toys suspected to be counterfeit goods bearing various brand names. ...

245. New policies create passenger backlash at Limassol Port

On Sunday, a wave of reactions was triggered at Limassol port as citizens became aware of a new policy set to be implemented this year by the Deputy Ministry of Shipping. ...

246. Annual inflation drops in Cyprus, eurozone, and EU compared to April

The annual inflation rate was 3.6% in Cyprus, 6.1% in the eurozone and 7.1% in the EU in May 2023, according to figures published by Eurostat, the statistical office of the European Union. ...

247. Backlash over Cyprus' VAT refund change

The recent decision made by the Department of Customs to raise the expenditure limit for VAT refunds to third-country travelers visiting Cyprus is receiving criticism for its adverse effects on tourism expenditure....

248. 17% of Cypriots admit to purchasing fake goods

According to a report from the European Union Intellectual Property Office (EUIPO), Cypriots have admitted to accessing content illegally, particularly for watching sports. ...

249. Massive cash haul uncovered at Paphos airport

In a joint operation between the Customs Department and the YKAN (Financial Intelligence Unit), a startling discovery was made at Paphos Airport on Thursday night, 8th June 2023....

250. FinMin underlines the importance of disciplined policy

The contact circle with the banks has not been completed, and there will be a new one to adopt measures that will provide relief to borrowers regarding the increased interest rates....

251. Natural gas a priority for affordable electricity generation

The Cyprus Chamber of Commerce and Industry (CCCI) agrees with the government's priority to bring natural gas το Cyprus, in order to produce cheap electricity, said CCCI President Christodoulos Angastiniotis, after a meeting held between CCCI and President of the Republic, Nikos Christodoulides, on Tuesday....

252. EU launches innovative support center for Green Line trade

The European Commission has announced the establishment of an information and support center, in collaboration with the Cyprus Chamber of Commerce and Industry (CCCI) and the Turkish Cypriot Chamber of Commerce (TCCC), to facilitate legal trade across the Green Line for Cypriot businesses and individuals....

253. The 'controversial' e-kalathi bill: House and stakeholders remain unconvinced

The e-kalathi bill fails to convince the House and stakeholders. Yesterday, the Commerce Committee of the House of Representatives held discussions on the matter, with Minister of Energy, Commerce, and Industry George Papanastasiou present....

254. E-kalathi bill presented to Parliament

The discussion on the e-kalathi bill commences today at the Commerce Committee of the House of Representatives. This bill introduces a digital tool designed to display product prices, aiming to support the Consumer Protection Agency's efforts in monitoring the market and better protect consumer interests....

255. 0% VAT rate, the second round

Almost two weeks after the zeroing of the tax rate on seven products (bread, eggs, milk, baby diapers, baby food, feminine hygiene products, and adult diapers), the Ministry of Finance and the Ministry of Commerce are in discussions regarding the next list of products that will have a low or reduced tax rate....

256. Alphamega revolutionizes shopping with 'Click & Collect'

Alphamega Hypermarkets has launched a new service that aims to improve its customers' shopping experience. The new Click & Collect service allows customers to collect their orders from the company's e-store for free, instead of using the home delivery service....

257. Road transport of goods in Cyprus up by 39% in 2022

The total weight of goods transported by road in Cyprus in 2022 rose by 39.3% compared with 2021, a year that included periodic restrictions due to the Covid-19 pandemic....

258. Trump found liable for sexual abuse, accuser awarded $5 million

A federal jury on Tuesday found that Donald Trump sexually abused and defamed E. Jean Carroll, a writer who accused the former president of attacking her in a department store dressing room in the 1990s....

259. Goods produced in Cyprus see largest price increase in the EU

Industrial producer prices, which refer to the prices that producers receive for the products they make, increased by 2.4% in Cyprus in March 2023 compared to the previous month, according to the statistical office of the European Union, Eurostat. ...

260. 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...

261. 75.6% increase in motor vehicle registrations in March 2023

Total registrations of motor vehicles in March 2023 numbered 4,270, recording an increase of 75.6% compared to 2,431 in March 2022, according to the report entitled "Registration of Motor Vehicles" for the period January-March 2023, published by the Cyprus Statistical Service on Monday.Hi...

262. 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....

263. Macron's mission in China: Convincing Xi on Ukraine

264. Passports of Russian officials confiscated to prevent overseas escape

A Soviet-style practice is being resorted to by Russia's security services, confiscating the passports of senior officials and executives of state-owned companies to prevent travel abroad, as "paranoia about leaks and defections spreads in Vladimir Putin's regime," reports the Financial Times....

265. High prices continue to plague the market

266. Sense of calm prevails in the Aegean

The improvement of relations between Greece and Turkey and the sharp decrease in tensions is not only at the diplomatic level but also, and almost in tandem, with the operational situation on the ground...

267. Majority of goods transported by sea in Cyprus and the EU in 2021

In 2021, maritime transport accounted for more than two-thirds (68%, 5 135 billion tonne-km; tkm) of the EU’s freight transport, the lowest share recorded in the past decade according to data released by Eurostat, the statistical service of the EU....

268. Trade deficit increased by 163.5% in January 2023

A large increase was recorded in the trade deficit in January 2023 according to preliminary data published on Monday by the Statistical Service, since the increase in imports was more than three times the increase in exports....

269. Toblerone forced to change logo due to its un-'Swissness'

The most famous mountain in Switzerland is no longer appropriate for Toblerone to use on its packaging. Due to its decision to relocate a portion of its production to the Slovakian capital, Bratislava, this year, US company Mondelez, ...

270. 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....