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211. Can Cyprus withstand yet another crisis?

The recent Houthi attacks on commercial vessels navigating the Red Sea have triggered another disturbance in the intricate web of the global supply chain...

212. Faster approvals in just 90 days, Deputy Minister reveals

The average processing time for the guaranteed minimum income (GMI) applications has been reduced by 75%, from 12 months to 90 days, the Deputy Minister of Social Welfare, Marilena Evangelou, said during a press conference on the modernisation and upgrade of the GMI....

213. Central Bank chief cautions on early rate cuts amid global tensions

Central Bank Governor and European Central Bank (ECB) member Constantinos Herodotou stated that discussions regarding interest rate reductions are premature, given ongoing geopolitical conflicts and potential disruptions in the supply chain arising from tensions in the Red Sea....

214. Forty percent of global jobs face disruption because of AI

Artificial intelligence (AI) is poised to reshape the global job market, potentially affecting 40% of jobs worldwide, according to the head of the International Monetary Fund (IMF), Kristalina Georgieva....

215. Europe faces weak growth amid global uncertainty

In a comprehensive survey released today, leading economists express apprehension about the global economy, anticipating a year of sluggish growth, primarily attributed to geopolitical conflicts, challenging financing conditions, and the impact of artificial intelligence. ...

216. EY Cyprus releases the Cyprus Tax Facts Guide 2024

EY Cyprus is delighted to announce the release of the latest edition of the Cyprus Tax Facts guide for the year 2024....

217. Deloitte’s Tax Facts 2024

218. Global economy faces worst 5-year period in 30 years

The World Bank projects a sluggish global economy from 2020 to 2025, marking the worst five-year period in the last three decades....

219. Cyprus tax reform targets green initiatives and economic revitalization

By March 2024, the initial six phases of the tax transformation project commissioned by the Ministry of Finance to the Centre for Economic Research of the University of Cyprus will conclude,...

220. Cyprus grapples with lingering private debt woes

In Cyprus, the European Commission consistently highlights the significant economic challenge of private debt through regular post-program or post-memorandum reports....

221. Cyprus makes the cut in new tax-friendly nations list

In a recent announcement, the Ministry of Finance shed light on the revised list of countries enjoying preferential tax status under the Independent Authority for Public Revenue of the Hellenic Republic (IAEA)....

222. Landlords urged to be reasonable when pricing rentals

Marinos Keynegirou, the president of the Real Estate Registration Council, warns of escalating prices and dwindling demand in the real estate market's fourth quarter....

223. Cyprus housing crisis deepens amid interest rate scandal

With current interest rates, the prospect of repaying a mortgage spans nearly fifty years for an average family, turning homeownership into an elusive dream....

224. Life2vec, an AI algorithm, predicts your future with high accuracy

In a groundbreaking development, scientists have introduced an algorithm named 'Life2vec' that leverages personal life stories to forecast an individual's future, including potential lifespan. ...

225. How much will Christmas dinner cost this year?

The Pancyprian Consumers Association has conducted a comprehensive survey, uncovering the estimated costs of Christmas tables for families in Nicosia....

226. Greece named Economist 'Country of the Year 2023'

The Economist magazine has declared Greece the country of the year for 2023, with Prime Minister Kyriakos Mitsotakis, in a post, referring to the "recognition of the efforts of the Greek people."...

227. Cyprus expands diplomatic footprint, bolsters migration management efforts

President Nicos Christodoulides, leading the Council of Ministers at the Presidential Palace, announced significant developments in Cyprus' foreign policy and measures taken to address migration challenges....

228. Bank of Cyprus expands with €58M loan acquisition

Agreement for the Acquisition of a Performing Loan Portfolio. ...

229. CBC warns of non-performing loan surge amid economic challenges

The Central Bank of Cyprus (CBC) issued a warning on Monday, cautioning about the potential influx of non-performing loans (NPLs) driven by high-interest rates and inflation, which are impacting households' disposable income and businesses' profitability....

230. Themis Themistocleous signals potential 2024 interest rate cut

In their ''Year Ahead 2024'' forecast, analysts at Swiss financial giant UBS anticipate a slowdown in the strength of the US economy throughout 2023. ...

231. Cyprus and France seal the deal on tax cooperation

In a milestone development, Cyprus and France have solidified their commitment to combat double taxation through the signing of a renewed Convention on the Elimination of Double Taxation....

232. Banks fail Menendez's quiz on $4 billion consumer paybacks

In a fiery congressional hearing on Wednesday, Senator Bob Menendez targeted Wall Street's top executives, putting them in the hot seat with a pop quiz on their firms' financial misdeeds....

233. Erdogan: ''My friend Kyriakos, we will not threaten you if you do not threaten us''

Turkish President Recep Tayyip Erdogan talks about all issues concerning Greek-Turkish relations in an exclusive interview with K, twenty-four hours before he arrives in Athens, stressing that he is looking forward to "a new page" based on the ''win-win principle''....

234. Mortgage-to-Rent scheme sparks overwhelming interest as call centers inundated

In a significant response to the newly launched 'Mortgage to Rent' Scheme by the implementing agency, KEDIPES, the service center has been inundated with hundreds of calls since the official commencement of the initiative today....

235. ''The path to fighting inflation is difficult''

In an insightful dialogue about the economic landscape, Joachim Nagel, a prominent figure in the financial realm and a member of the ECB Governing Council, shares his perspectives on inflation, interest rates, and the challenges facing the European economy....

236. France's controversial anti-smoking campaign sparks debate

France is set to intensify its battle against smoking, with Health Minister Aurelien Rousseau announcing a comprehensive anti-smoking program....

237. Cyprus sees drop in savings to 6.5%, Eurostat highlights

Saving rates were significantly lower than in 2021 (13.47 in Cyprus, 16.4% in the EU), and closer to the values before COVID-19 pandemic (5.8% in Cyprus and 12.3% in the EU in 2019)....

238. Banks eye over 1 billion euro profits in 2023

Cypriot banks, including the Greek bank, are poised to rake in substantial profits for 2023, benefitting from the European Central Bank's interest rate hikes....

239. Hellenic Bank rakes in €240.7M in 2023's first 9 months

Hellenic Bank announced on Tuesday a profit of €240.7 million for the first 9 months of 2023....

240. A deep dive into food waste solutions

A third of all food produced is never eaten, meanwhile millions go hungry. What can be done? Here are six simple solutions to food waste....