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181. Rising rent costs challenge Cyprus middle-class budgets

A disconcerting trend is unfolding in Cyprus, where not only are the prices of essential goods on the rise, but rents are also skyrocketing, sparking extensive debates and concerns throughout society according to a report on Philenews....

182. 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. ...

183. Tax audits expose unexplained remittances

Remittances abroad that are not justified by incomes declared in tax statements, problematic parental concessions or donations to children with sums of money directly “from the mattress,” and undeclared earnings were detected by the tax inspection centers in the audits they carried out in the first seven months of the year. ...

184. President will not waive pension

Speaking on state radio regarding pensions and simultaneous salary payments to high-ranking state officials, Mr. Letymbiotis stated that no one can renounce their pension....

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

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

186. The controversial path to 1,704 new Cypriot ''citizens''

In the period spanning from November 5, 2021, to June 19, 2023, a total of 1,704 "citizenships" were granted with the approval of the ''Ministry of Interior'', according to the Dursun Oguz. This information was reported by Kibris....

187. The President's rainy rhetoric on his undisclosed income

''The weather may be rainy, but the clear sky isn't afraid of lightning.'' With this romantic and poetic line, the president responded to his critics regarding the issue of his undisclosed income. It's as if the man doesn't even deserve a small oversight....

188. Moody's boosts Bank of Cyprus and Hellenic Bank ratings to Baa2

Moody’s Investors Service has upgraded Bank of Cyprus’ and Hellenic Bank’s long-term deposit ratings to Baa3 from Ba1, citing the continued resilience of the Cypriot economy and credit conditions, which are leading to supportive operating conditions for Cypriot banks....

189. President's silent pension raises eyebrows

Both the President of the Republic and members of Parliament have emphasized the necessity of legislative regulation to put an end to the simultaneous receipt of public employee pensions and salaries by political officials. ...

190. 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....

191. Unexpected earnings dip in 2022 at €2,202

In a surprising turn of events, Cyprus witnessed its first annual drop in monthly earnings after seven prosperous years....

192. Cyprus banks' net interest income doubles amid ECB rate hikes

The Cypriot banking system's net interest income (NII) saw a remarkable doubling in the first half of 2023, marking an annual increase of 100%, primarily due to the ongoing rate hikes by the European Central Bank (ECB) aimed at tackling rising inflation....

193. 2024 budget points to surplus and debt reduction

The 2024 budget reflects the clear imprint of our policy priorities, President of the Republic Nikos Christodoulides says in a written statement, adding that the fiscal balance for 2024 is estimated to be surplus, reaching 2.2% of GDP, while the medium-term goal, by 2026, is to reduce public debt to 60%....

194. Greek workers toiling longer, earning less

Greeks work 41 hours a week, more than any other Europeans, but are paid less. Monthly salaries do not exceed 1,038 euros on average, according to the latest figures compiled by the Single Social Security Entity (EFKA), ...

195. Tax return deadline extended to October 31

The Finance Ministry has announced an extension of the tax return submission deadline for the year 2022 until October 31, 2023, at 23:59. This extension comes after a proposal presented to the Council of Ministers....

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

197. Government cuts interest income rates from 30% to 17%

The Cyprus government decided to slash taxation on interest income from 30% to 17%, Finance Minister Makis Keravnos said on Wednesday, noting that banks should follow suit in boosting income for depositors. ...

198. Big on big issues and small on small issues

Are you tired of scrolling and reading throughout long and multiple pages filled with every single detail of each accounting policy your entity of interest is using the last couple of years, only to find what really matters for you in page 25? Don’t get me wrong! I do that for living....

199. Consulco: London Credit Fund’s new investment opportunity secured against UK commercial properties

The London Credit Fund New Compartment offers even higher returns to investors....

200. The free parking illusion

Imagine a city where parking is easy, convenient, and free....

201. AKEL's bold demand: Tax bank profits to power people's pockets

The AKEL political party is urging the government to take immediate action to alleviate the financial strain on Cypriot households by taxing banks' surplus profits and redirecting the funds towards fuel and electricity subsidies....

202. China's $10 trillion hidden debt

For some time now, markets have been buffeted almost on a daily basis by gloomy economic news filtering out of China....

203. Fuel tax cut to aid low incomes

The association called "Equality" is requesting a reduction in fuel taxes through a letter addressed to the Minister of Finance, Makis Keravnos....

204. Hotel employees get wage boost

The Council of Ministers convened earlier today to address key labor-related matters. One significant decision that emerged from the meeting was the approval of a higher minimum wage threshold for the hotel industry,...

205. Reddit's aroma awards for the 20 most odorous countries

In this article, we will take a look at the 20 countries with the worst body odor according to Reddit....

206. Local governments lease, but rarely police

In an effort, years ago, to modernize the state and make it work better at all levels, important and critical responsibilities were assigned – and rightly so – to local government bodies. ...

207. One in six faces poverty or social exclusion

One in six individuals, equivalent to 150,000 people, faced the risk of poverty or social exclusion in Cyprus during 2022, as revealed by the findings of the 2022 Survey on Income and Living Conditions. ...

208. Electrifying Cyprus: Only 2.5K EVs drive the change

A total of 26,462 vehicles have been registered with the Department of Road Transport between January and July 2023, according to the most recent data released by the Department of Statistics. Out of the overall new registrations, 701 were electric vehicles, with 502 of them being private saloon cars....

209. BOC reports €220 million profit for first half of 2023

Bank of Cyprus Group has reported a robust profit after tax of €220 million for the first half of 2023, a significant leap from the €43 million recorded in the same period of 2022. Notably, €125 million of these profits were achieved in the second quarter of 2023....

210. Italy surprises banks with 40% windfall tax

Italy's rightwing coalition sent shockwaves through the financial markets as it announced an unforeseen 40% tax on bank profits derived from higher interest rates. ...