https://knews.kathimerini.com.cy/en/business/banks-are-revising-lending-rates
Cypriot banks are preparing new loan rates in an effort to redesign the pricing of loans. In the first half of 2023, Cypriot banks will see significant changes in the pricing of new loans, accompanied by increases in interest rates, ...
https://knews.kathimerini.com.cy/en/business/more-tourists-embarking-on-sustainable-travel-this-year
A new report from the World Travel and Tourism Council (WTTC) and the Trip.com Group has revealed that 69 percent of travelers are actively seeking sustainable travel options for 2023....
https://knews.kathimerini.com.cy/en/business/herodotou-calls-for-increased-vigilance-to-avert-private-debt-defaults
Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) called for the preservation of fiscal space, as the economic prospects are deteriorating due to Russia’s war in Ukraine....
https://knews.kathimerini.com.cy/en/business/construction-materials-at-their-highest-costs-in-2022
Construction material prices historically reached their highest level in 2022, surpassing the previous record set in 2021, with prices increasing by more than 11% year on year in December alone....
https://knews.kathimerini.com.cy/en/news/china-s-population-shrinks-for-first-time-in-60-years
China's population fell last year for the first time in six decades, a historic turn that is expected to mark the start of a long period of decline in its citizen numbers with profound implications for its economy and the world....
https://knews.kathimerini.com.cy/en/news/cabinet-nine-more-citizenships-revoked
The Council of Ministers today confirmed its previous decision to deprive three investors and six of the dependents of their citizenship status following the expiration of the deadline for objections and the completion of the procedures in the competent committee....
https://knews.kathimerini.com.cy/en/business/pwc-survey-seven-out-of-ten-ceos-are-pessimistic-about-2023
According to the 26th Annual Global CEO Survey conducted by PwC between October and November 2022, nearly three-quarters (73%) of respondents expect global economic growth to slow over the next 12 months....
https://knews.kathimerini.com.cy/en/business/prostitutes-gather-in-davos-for-annual-meeting-of-global-elite
The global elite tackling the world's problems at the Davos summit including gender inequality is fuelling a surge in prostitution in the Swiss resort....
https://knews.kathimerini.com.cy/en/business/nearly-€6-billion-in-real-estate-transactions-in-2022
The value of real estate sold during 2022 is approaching €6 billion, according to the comparative real estate sales of the Department of Lands and Surveys as processed and presented in the quarterly "Real Estate Market Bulletin" of Cyprus Real Estate Registration Council....
https://knews.kathimerini.com.cy/en/business/1-january-newsletter-of-k-treppides-co-ltd
A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in the field of auditing and accounting services with offices in three countries....
https://knews.kathimerini.com.cy/en/news/rising-cost-of-living-worrisome-for-almost-all-cypriots
The rising cost of living, the threat of poverty and social exclusion, and the migration issue are Cypriots’ greatest concerns according to the European Parliament’s Autumn 2022 Eurobarometer Survey released on Thursday....
https://knews.kathimerini.com.cy/en/business/january-newsletter-of-k-treppides-co-ltd
A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in the field of auditing and accounting services with offices in three countries....
https://knews.kathimerini.com.cy/en/news/supermarkets-bet-on-their-own-private-labeled-products
Consumers are turning to private label and exclusive import products to combat inflationary pressures on consumer goods in supermarkets....
https://knews.kathimerini.com.cy/en/news/fuel-prices-have-dropped-but-increases-are-anticipated
On January 8, 2023, the cost of 95 gasoline was 44 cents less per liter than it was on July 12, when it reached an all-time high of €1.828 per liter....
https://knews.kathimerini.com.cy/en/business/amazon-to-layoff-18-000-employees
Amazon.com Inc's layoffs will now increase to more than 18,000 roles as part of a workforce reduction it previously disclosed, Chief Executive Andy Jassy said in a public staff note on Wednesday....
https://knews.kathimerini.com.cy/en/comment/opinion/looking-ahead-to-2023-house-prices-in-cyprus
The end of 2021 saw Europe’s and Cyprus’ economies gradually recovering from the two-year rollercoaster ride of lockdowns, the stock market at record highs, and inflation increasing....
https://knews.kathimerini.com.cy/en/business/the-plan-to-bring-in-more-german-tourists
In a trip organized by the FTI Group and Meeting Point, German travel agents recently visited the island and discovered increased demand for Cyprus....
https://knews.kathimerini.com.cy/en/comment/opinion/the-2023-investment-chessboard
Today's data is completely different from what it was a year ago in terms of investment....
https://knews.kathimerini.com.cy/en/business/cyprus-national-minimum-wage-takes-effect-on-first-day-of-2023
National Minimum Wage in effect in Cyprus for the first time in January...
https://knews.kathimerini.com.cy/en/news/economic-events-that-will-be-remembered-in-2022
The energy crisis, which intensified after Russia's invasion of Ukraine and resulted in skyrocketing gas prices, took the lead throughout the year....
https://knews.kathimerini.com.cy/en/news/cyprus-braces-for-credit-ratings-in-2023
The ratings will take place in a year marked by a projected economic slowdown, amid the continued uncertainty that clouds the economic outlook, due to high inflation and the energy crisis, fueled by the continuing war in Ukraine...
https://knews.kathimerini.com.cy/en/business/ey-future-consumer-index-consumers-opt-for-caution-this-holiday-season
EY Future Consumer Index: consumers opt for caution this holiday season to cope with rising cost-of-living and environmental concerns, new data finds ...
https://knews.kathimerini.com.cy/en/business/ey-cyprus-organised-the-2nd-annual-corporate-reporting-insights-event
EY Cyprus organised the 2nd Annual Corporate Reporting Insights event held on 16 December 2022, at Lemon Park Nicosia, with the participation of senior executives from Cypriot and multinational corporations. The event focused on the major shift underway in recent years, as emphasis moves from financial to corporate reporting. ...
https://knews.kathimerini.com.cy/en/news/lack-of-discounts-for-the-holiday-table
This year's Christmas table is expected to be laden with delectable fare. This is a tool that supermarkets have enlisted in order to retain customers and possibly increase sales, even in times of inflation....
https://knews.kathimerini.com.cy/en/news/electricity-subsidies-extended-to-february-2023
The Council of Ministers met yesterday under the chairmanship of the President of the Republic Mr. Nicos Anastasiades and approved the extension for two additional months of the measure concerning the subsidy by the State of part of the cost of electricity consumption...
https://knews.kathimerini.com.cy/en/news/finance-ministry-cyprus-economy-will-not-enter-a-recession
There will be a significant slowdown in economic activity next year, we will be affected by increased energy prices and borrowing costs, but "inflation in Cyprus is being reined in at lower levels" compared to other European member states, ...
https://knews.kathimerini.com.cy/en/business/ecb-raises-interest-rates-by-0-5
Christine Lagarde warned markets not to expect an early end to rate rises next year, on a day when the European Central Bank and the Bank of England lifted borrowing costs to their highest levels in 14 years....
https://knews.kathimerini.com.cy/en/news/nhs-nurses-walk-out-in-first-strike-in-over-a-century
Nurses across much of the UK launched a historic strike on Thursday, as they walked out of hospitals and onto picket lines after several years of falling pay and declining standards left the country’s nationalized health care system in a state of crisis....
https://knews.kathimerini.com.cy/en/news/1-100-euro-rental-cap-on-thousands-of-homes-in-the-netherlands
The Dutch government will impose limits on rents for more than 300,000 homes in order to provide affordable housing in the face of a shortage in the country's housing problem....
https://knews.kathimerini.com.cy/en/business/cyprus-retail-sector-continues-climb-despite-inflation
Black Friday, with its high levels of traffic and shopping, appears to have given way to the Christmas holiday season. The market is still moving well, with increased foot traffic in shopping malls and main streets....
