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91. Cyprus could meet 40% of its energy needs through solar power by 2030

Cyprus is on track to meet 40% of its energy needs through solar power by 2030, according to Francesco La Camera, the Director-General of the International Renewable Energy Agency (IRENA)....

92. Real estate market remains unpredictable despite economic chaos

Everything around us exudes a sense of precision. Costs are on the rise, from the basic materials used in production to the final products we consume. ...

93. Israeli-Hamas war puts Cyprus and Egypt at forefront of credit risks

Cyprus and Egypt are currently facing the most direct credit risks among countries rated by Scope Ratings due to the Israeli-Hamas conflict, warns the German firm....

94. Government vulnerable to rising fuel costs amid Middle East tensions

Economist Pampos Papageorgiou recently addressed the potential economic consequences that the ongoing conflict in the Middle East may bring to Cyprus and Europe....

95. The Israeli war's impact on economy and energy prices

Economists have been examining the inevitable economic consequences of the war in Israel, particularly its influence on fuel and electricity costs....

96. Do consumers embrace e-kalathi shopping?

The Consumer Protection Department, in partnership with research firm IMR, recently conducted a telephone survey aimed at gauging general consumer sentiments and assessing awareness of the e-kalathi initiative....

97. Targeted fuel and heating reductions in government's considerations

The Cyprus Electricity Authority has announced a 3% increase in electricity prices for upcoming bills. ...

98. ECB VP says interest rate cuts premature

In an interview with CNA, Louis de Guindos, Vice President of the European Central Bank, expressed that discussions regarding interest rate cuts are premature....

99. Former President's startling revelation about food

In April 2022, former Russian President Dmitry Medvedev, now deputy head of Russia’s Security Council, said on his Telegram channel: “Our food is our silent weapon. Silent — but formidable."...

100. €370K worth of olive oil vanishes, police investigate

Approximately 37 tons of olive oil have been reported stolen from a prominent agricultural cooperative in Polygyros, a picturesque town nestled in the scenic region of Halkidiki, northern Greece. ...

101. Finance Ministry's new measures for the vulnerable in the works

The Finance Ministry is considering new measures to support particularly the vulnerable groups of society amid the continuing pressures from high prices and inflation, Makis Keravnos Minister of Finance said on Monday, adding the measures were in the pipeline irrespective of the rating upgrades by Moody’s and DBRS Morningstar....

102. Real estate boom in Greece and Cyprus

The real estate landscapes of Greece and Cyprus are undergoing significant transformations, with both nations showcasing promising growth and recovery. However, beneath the surface of these top-line numbers, there are underlying challenges and disparities that need to be addressed....

103. Moody's double upgrade ignites investor interest

Last Friday, Moody's delivered a double upgrade for Cyprus, propelling the nation into the investment-grade category recognized by all four major financial firms. Although these rankings may appear modest, their real-world impact is substantial....

104. Electricity prices surge by 3% in latest billing cycle

In a recent development, electricity prices have witnessed a notable uptick, surging by 3% when compared to the preceding month. Christina Papadopoulou, the spokesperson for EAC (the electricity authority), elucidated that a significant portion of this increase, amounting to 1.20%, is earmarked for third-party entities rather than being allocated to AHK....

105. Violent clashes between tenants and property owners as rents spike 700%

A craftsman in Turkey, who has been diligently paying rent for two decades, now finds himself threatened with eviction due to an unexpected rent increase of nearly 700%. His monthly rent has surged from 3,200 Turkish lira (110 euros) to a staggering 25,000 lira (867 euros)....

106. Cablenet and COSMOTE TV kick off exclusive Cyprus Football League broadcast

Cablenet and COSMOTE TV have announced their collaboration to exclusively broadcast the top matches of the Cyprus Football League in Greece....

107. Foreign buyers flock to Cyprus real estate

Recent data on property sales in Cyprus reveal distinct trends in different provinces. Notably, the real estate landscape in Nicosia contrasts sharply with that of coastal provinces....

108. Apartments rule, but prices vary by province

According to Mr. Loizou of Ask Wire, the majority of Cyprus' population resides in apartments. Therefore, it comes as no surprise that among young buyers, typically around 30 years old, the most sought-after housing option is an apartment, particularly a two-bedroom one, whether for purchase or rent. However, the question arises: How do housing prices vary across different provinces?...

109. CBC lowers GDP growth projections for 2023 and 2024

The Central Bank of Cyprus has revised its growth projections for 2023 and 2024. They now expect GDP growth to be 2.4% in 2023 and 2.7% in 2024, down from their previous forecasts of 2.6% and 2.8%. This is due to Western sanctions against Russia and the fragile external environment affecting professional and non-tourism services....

110. Cyprus endorses bold auto rules for health and industry

Cyprus supported the compromise proposal put forward by the Spanish Presidency of the EU Council on the proposed Euro 7 regulation, during a meeting of the EU Competitiveness Council in Brussels, on Monday, with the permanent secretary of the Ministry of Energy, Marios Panayides, stressing that the new rules should protect human health while ensuring the competitiveness of the automotive industry....

111. Construction of petrol storage terminal must be a priority, says Energy Minister

The construction of a petroleum products storage terminal with a completion date of 2025 is considered a project of exceptional importance with regard to Cyprus' strategic energy autonomy, Minister of Energy, Commerce and Industry, George Papanastasiou, ...

112. How high is too high before tax relief kicks in?

Diesel prices have dipped by nine cents per liter at gas stations compared to late August, while unleaded 95-octane petrol is now six cents cheaper....

113. €369 million EIB loan for smart investments

The government has secured a €369 million loan from the European Investment Bank (EIB) with favorable terms to support expenditures and investments within the framework of the "Thalia" program. ...

114. Consulco’s London Credit Fund; Existing & New Investment Opportunities

115. E-kalathi bill sparks debate in Parliament

During yesterday's session of the Parliamentary Committee on energy and trade, the debate shed light on a crucial aspect of the E-kalathi bill. It became evident that there are lingering disagreements among stakeholders and the majority of MPs on this issue. ...

116. Houses and agricultural plots for sale by AstroBank

117. Olive oil prices soar due to shortage and weather woes

The price of olive oil is expected to rise dramatically, possibly exceeding 10 euros per liter and reaching 15 euros in Europe, according to agricultural organizations....

118. Ministry on high alert as fuel prices soar globally

Constantinos Karagiorgis, Director of the Consumer Protection Service at the Ministry of Commerce, Energy, and Industry, has noted a concerning and continuous rise in fuel prices on the international stage. ...

119. Borrowers in a high-stakes game of loan roulette

In 2023, borrowers face a pivotal year, primarily due to the soaring levels of inflation, rising prices, and increasing interest rates. This year also carries significant importance for banks, not in terms of profits, ...

120. Retail trickery? Price hikes before zero VAT stun consumers

A recent study by the Cyprus Consumers Association (CCA) has revealed that prices for various essential goods saw artificial increases in the days leading up to the implementation of the zero VAT rate. ...