https://knews.kathimerini.com.cy/en/business/ecb-raises-interest-rates-by-0-75
The European Central Bank recently decided to raise interest rates by 0.75%. This is the third consecutive increase (a 2% increase overall), and the base rate will now be 2%. The interest rate at which banks accept deposits has risen from 0.75% to 1.5%....
https://knews.kathimerini.com.cy/en/news/german-chancellor-says-a-solution-can-be-found-on-speculative-gas-price-spikes
German Chancellor Olaf Scholz said on Thursday that EU energy ministers still have much work to do but a solution could be found to contain speculative spikes in gas prices....
https://knews.kathimerini.com.cy/en/news/when-a-vacation-is-less-expensive-than-staying-at-home
Can a vacation be less expensive than staying at home? That is exactly what EasyJet told British citizens, and the vacation package it offered for a trip to Egypt sold out in less than 24 hours....
https://knews.kathimerini.com.cy/en/news/op-ed-wim-van-aken-talks-recession-and-the-predictions-for-cyprus
We are facing a double shock. First, we had the Covid-19 shock and now the global and European economies are facing a new shock with the war in Ukraine. Both events are unprecedented for many of us....
https://knews.kathimerini.com.cy/en/business/october-newsletter-of-k-treppides-co-ltd-european-banking-authority
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/boris-johnson-or-rishi-sunak-expected-to-be-uk-s-next-prime-minister
Boris Johnson and his former finance minister Rishi Sunak were leading potential contenders to replace British Prime Minister Liz Truss on Friday, with candidates canvassing support to become Conservative Party leader in a fast-tracked contest....
https://knews.kathimerini.com.cy/en/news/eu-leaders-burn-midnight-oil-on-gas-prices
European Union leaders ended another debate on the bloc's response to the energy crunch without agreement on whether to cap gas prices, deciding in the early hours of Friday morning to keep examining options to put a ceiling on costs...
https://knews.kathimerini.com.cy/en/news/cyprus-annual-inflation-rate-at-9-0-lower-than-eu-s-9-9
The euro area's annual inflation rate was 9.9% in September 2022, up from 9.1% in August and up from 3.4% a year earlier, according to figures published by Eurostat, the statistical office of the European Union....
https://knews.kathimerini.com.cy/en/news/which-products-were-most-affected-by-the-barrage-of-price-increases
Aside from fuel and electricity, shopping, particularly for necessities, is high on the list of concerns for all households. Prices in various product categories have risen, making life even more difficult for consumers, and the outlook is bleak at the moment....
https://knews.kathimerini.com.cy/en/business/youth-unemployment-in-cyprus-in-2021-at-14-2-compared-to-13-across-the-eu
The youth (people aged 15–29 years) unemployment rate in the European Union fell to 13.0% in 2021, from 13.3% in 2020, according to data released by Eurostat, the statistical service of the European Union....
https://knews.kathimerini.com.cy/en/business/petrides-we-will-not-impose-new-fuel-taxes
Finance Minister Constantinos Petrides stated that no new fuel taxes will be imposed, an obligation that should be met by the end of the year....
https://knews.kathimerini.com.cy/en/business/october-newsletter-of-k-treppides-co-ltd-eba
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/are-milk-meat-and-coffee-still-affordable
According to the Consumer Protection Service's Price Observatory, price increases of up to 21% and price decreases of up to 13% were observed between September 14 and October 12....
https://knews.kathimerini.com.cy/en/news/imf-predicts-a-return-to-fiscal-surpluses-for-cyprus-following-the-pandemic
Cyprus’ public finances will return to surpluses in 2023 which will continue until 2027, the IMF said in its Fiscal Monitor 2022 issued on Wednesday....
https://knews.kathimerini.com.cy/en/comment/opinion/op-ed-cyprus-is-bursting-like-a-fat-guy-out-of-his-leotard
Cyprus’ changing demographics are causing havoc to the real estate market, accentuating socio-economic imbalances and creating polarised communities. A bit dramatic? Let’s see....
https://knews.kathimerini.com.cy/en/business/the-ecb-s-next-steps-were-documented-in-limassol
The two-day conference of Central Bank Governors in Limassol is a strong contender to serve as the foundation for decisions on monetary policy and inflation strategy to be made in the coming period.
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https://knews.kathimerini.com.cy/en/news/the-future-of-the-banking-sector-is-digital-green-and-social
The future of the banking sector is digital, green and social, said the participants at the 3rd online FMW Conference, titled "Banking System: New Challenges and Opportunities". The Conference also highlighted the contrast between trying to tame inflation by raising interest rates and supporting vulnerable groups to avoid social unrest....
https://knews.kathimerini.com.cy/en/news/von-der-leyen-temporary-cap-on-gas-prices
The European Commission is now moving towards a temporary cap on gas prices and a common supply of energy products, Commission President Ursula von der Leyen said in a speech to the European Parliament on Wednesday morning....
https://knews.kathimerini.com.cy/en/business/the-heart-of-the-ecb-beats-in-cyprus
The second consecutive visit of European Central Bank President Christine Lagarde in 2022 is certainly semantic. Apart from the visibility of Cyprus being the first visit by Central Bank Governors as part of the decision to visit a country on an annual basis to hold one of their meetings, two other readings emerge....
https://knews.kathimerini.com.cy/en/business/loan-interest-rates-rise-for-a-second-consecutive-month
Lending interest rates in Cyprus rose for a second consecutive month in August, with credit institutions pricing rate hikes by the European Central Bank and increased credit risk due to uncertainty and inflation pressures fuelled by the war in Ukraine....
https://knews.kathimerini.com.cy/en/business/global-fintech-market-resilient-in-h1-22-$107-8-billion-in-investment-according-to-kpmg-s-pulse-of-fintech
Global fintech investment declined from $111.2 billion in H2’21 to $107.8 billion in H1’22, but remained remarkably resilient compared to historical trends given the challenges affecting the broader investment market, including geopolitical uncertainty, growing inflation, and increasing interest rates. ...
https://knews.kathimerini.com.cy/en/news/eu-countries-approve-energy-windfall-levies-turn-to-gas-price-cap
European Union countries agreed on Friday to impose emergency levies on energy firms’ windfall profits and began talks on their next move to tackle Europe’s energy crunch – possibly a bloc-wide gas price cap....
https://knews.kathimerini.com.cy/en/news/finance-minister-calls-for-prudency-to-safeguard-economy
Cypriot Minister of Finance Constantinos Petrides, stressed on Wednesday evening the need to be “even more careful” with the fiscal discipline in the new challenging era, while Central Bank Governor Constantinos Herodotou referred to the risk of new NPLs due to the challenging economic conditions....
https://knews.kathimerini.com.cy/en/news/reduced-excise-tax-on-fuel-extended-until-mid-january
The Cyprus government extended the reduced excise duties on fuel until 15 January 2023 on Friday, in a bid to alleviate the effects of soaring inflation fuelled by the war in Ukraine, with the Finance Minister calling on Households and businesses to save energy as fiscal measures cannot tackle the problem of price hikes in its entirety....
https://knews.kathimerini.com.cy/en/business/ryanair-says-low-cost-travel-now-in-the-past
The previously known ultra-low-cost flag carrier, Ryanair, has announced it will increase ticket prices to Austria moderately, mainly due to inflation....
https://knews.kathimerini.com.cy/en/business/ey-cyprus-to-present-findings-of-2nd-ey-attractiveness-survey-at-cyprus-attractiveness-forum-investment-realized-on-25-october
EY Cyprus is proud to present the findings of the second edition of the EY Attractiveness Survey Cyprus 2022, during its flagship event, Cyprus Attractiveness Forum: Investment Realized 2022 on 25 October 2022 at Parklane Hotel, Limassol....
https://knews.kathimerini.com.cy/en/comment/opinion/op-ed-a-cat-has-nine-lives-so-does-the-cyprus-property-market
Where is the Cyprus property market heading? I have been asked this question countless times over the past three months, primarily from foreign investors who are trying to appreciate how the rise in inflation, increase in interest rates, and war in Ukraine is affecting local market dynamics....
https://knews.kathimerini.com.cy/en/news/consumer-watchdog-releases-price-index-for-september-on-basic-consumer-goods
The Consumer Watchdog has released the price index for basic consumer goods for the month of September....
https://knews.kathimerini.com.cy/en/news/inflation-still-high-but-slowed-to-9-6-in-august
Harmonized inflation rose at a slower pace than in the previous month in August 2022, recording an increase of 9.6%, compared with August last year....
https://knews.kathimerini.com.cy/en/business/europe-flights-disrupted-by-french-air-traffic-controller-strike
European flights faced widespread disruption on Friday as a French air traffic controllers' strike forced airlines to cancel half of those scheduled to arrive or depart Paris airports and others due to having to fly over France....
