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151. Cabinet pulls plug on fuel subsidies

Temporary fuel state subsidies are set to expire before the weekend in the Republic of Cyprus, after the finance minister announced an extension could not be justified...

152. Nicosia encourages green transportation with new policy

Effective Saturday, July 1, the Nicosia Municipal Council will implement new parking fees in municipal parking areas, following a decision made on April 20, 2023. ...

153. Interest rate increases boost Cypriot banks' 2022 profits to €177 million

Bank of Cyprus and Hellenic Bank generated a combined profit of €164.7 Million in Q1 2023, Driven by interest rate increases....

154. Stricter controls on fuel trading in occupied areas

Stricter controls and public disclosure for fuel traders in the occupied areas to be announced tomorrow, Energy Minister George Papastasiou declares....

155. Hellenic Bank rakes in €69.7 million in profits during Q1 of 2023

Hellenic Bank has reported a profit of €69.7 million for the first quarter of 2023, signaling a strong start to the year. ...

156. Bank of England raises interest rates to 5%

The Bank of England has raised interest rates by a half point to 5% as part of its efforts to combat high inflation and rising mortgage costs. ...

157. Cyprus banks to double net interest income in Q1 2023

Net Interest Income (NII) for the Cypriot banking sector nearly doubled in the first quarter of 2023, driven by the ECB’s rising interest rates in a bid to contain inflation....

158. Hunter Biden to plead guilty to three federal charges

President Joe Biden’s son Hunter has been charged with failing to pay federal income tax and illegally possessing a weapon and has reached an agreement with the Justice Department, according to a letter filed in U.S. District Court in Delaware....

159. Cyprus economy thrives: FinMin foresees robust growth and fiscal stability

During the 2023 Annual General Meeting of the Cyprus Bankers Association, the Minister of Finance, Mr. Makis Keravnos, discussed the current state and future prospects of the Cyprus economy, particularly focusing on the banking sector. ...

160. Leading brands pledge jobs for thousands of refugees

The companies - which include Amazon, Accenture, and Adidas - have committed to hiring and training over 250,000 refugees in the next three years....

161. Christodoulides' pledge to safeguard Cyprus' reputation

President of the Republic Nikos Christodoulides has stressed that the government will not allow a very small minority of people in the country to tarnish Cyprus' reputation, which was built after many years of effort....

162. Man in Finland fined €121,000 for speeding

In a surprising turn of events, a man in Finland was slapped with a jaw-dropping fine of €121,000 (~$130,000) for exceeding the speed limit by approximately 20 mph....

163. Cyprus banking sector maintains stable solvency ratio

The overall solvency ratio of the Cyprus banking sector stood at 21.2% at the end of December 2022, the same as September 2022, according to data published by the Central Bank of Cyprus on Wednesday....

164. June Newsletter - Deadline for settlement of taxes through self-assessment

165. Cyprus's slow ride on the electric car bandwagon

We are slowly rushing towards zero-emission transportation. The data from new vehicle registrations indicate that while the numbers are increasing, the percentage of electric cars on Cypriot roads remains limited....

166. 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....

167. IMF says Cyprus untouched by war fallout

The economy of Cyprus is expected to slow to around 2.5% in 2023, reflecting an erosion in household incomes, tighter financial conditions, and delayed impacts from sanctions against Russia, International Monetary Fund forecasts, after the conclusion of the Article IV consultation with Cyprus...

168. California: Electricity bills based on your paycheck

Most of the time, what you pay for electricity or water or gas depends on how much you use. Leave the air conditioner and the lights on all night, and your electricity bill will spike. Take long, relaxing bubble baths every day, and your water bill will climb....

169. Cyprus' GDP soars: 3.4% growth in Q1 2023

Gross Domestic Product (GDP) in the first quarter of the year reached 6.2 billion euros, marking a 3.4% annual increase....

170. EC urges Cyprus to comply with EU VAT rules for homes

The European Commission has called on Cyprus to comply with EU VAT rules for dwellings by sending a reasoned opinion to the country, included in the Commission’s June infringements package. ...

171. Local home buyers feel priced out in divided Cyprus

Cypriots on both sides of the divided island have been noticing real estate prices going up in recent years due to foreign buyers willing shell out more, with reports suggesting the trend is going nowhere but up...

172. Cabinet approves tax deductions for businesses and extends tax payment deadline

The Cabinet approved several important measures on Wednesday, including a bill on tax rebates for businesses for energy upgrades, an extension of the tax payment deadline, and a suspension of the obligation to file tax returns for individuals with a taxable income below €19,500....

173. Why are food prices so high in Europe?

It is the most basic of staple food items: sliced white bread. In Britain, the average price of a loaf was 28 percent higher in April, at 1.39 pounds, or $1.72, than it was a year earlier....

174. State dough for families with three or more in tow

Thousands of families receiving state benefits for having three or more children in the Republic of Cyprus are to expect an additional one-time wire transfer just in time for summer...

175. CBC urges banks to embrace transformation for sustainablefuture

Constantinos Herodotou, Governor of the Central Bank of Cyprus, emphasized the need for Cypriot banks to seize the current favorable circumstances and address impending challenges during his speech at the 2023 ICPAC Mediterranean Finance Summit held in Limassol on Thursday....

176. Uber makes waves with boat travel in Mykonos

Can't find a ride to Ornos? Don't worry. The ride-hailed watercraft will carry up to eight people to different stops around the island....

177. As Greek elections loom, parties vie for votes of ‘lost generation’

Politicians vying for votes in Greece’s election on Sunday have turned to YouTube and TikTok to win over a younger generation who have long felt that years of crises have cost them their youth...

178. BOC: First quarter of 2023 yields €95 million in profit

Bank of Cyprus has released its financial report for Q1 2023, showcasing robust performance and positive indicators across various key metrics....

179. Why do young people in Cyprus struggle to secure a home loan?

Young people are facing difficulties in securing mortgage loans due to a number of factors, according to economist Tasos Yasemidis....

180. US congressman arrested for fraud and money laundering

US Republican congressman George Santos has been arrested in New York on federal charges of fraud, money laundering and theft of public funds....