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421. What's wrong with a little transparency?

There has been a lot of buzz surrounding e-kalathi in recent days. It is an electronic platform that aims to provide consumers with real-time updates on the prices of products in supermarkets, enabling them to easily find the best deals on their preferred products....

422. Deutsche Bank to slash 800 jobs as part of new cost-cutting initiative

Deutsche Bank to cut 800 jobs in a new cost-saving drive after reporting a bigger-than-expected rise in profit for the first quarter, a volatile period globally for finance companies....

423. Lack of aircraft preventing global air travel recovery

The air travel industry has recently been facing delays in aircraft deliveries, a problem that is not allowing it to fully recover from the pandemic....

424. The Turkish formula for Cyprus is challenging

A complex equation for the Cyprus problem is foreseen by circles at the EU headquarters, regardless of who wins Turkey's elections. This is because neither of the two main candidates, Tayyip Erdogan nor Kemal Kilicdaroglu, has the resolution of the Cyprus problem on their agenda. ...

425. Central Bank Governor: Sanctions' impact on economy not significant so far

The Governor of the Central Bank of Cyprus, Constantinos Herodotou, was received on Friday morning (21/04) by the President of the Republic, Nicos Christodoulides. ...

426. Finance Minister considers lowering VAT rates for basic necessities

The Minister of Finance of Cyprus, Makis Keravnos, has announced that the Ministry is considering measures for banks and credit-acquiring companies to absorb high-interest rate increases, as well as reducing value-added tax (VAT) for basic necessity products to tackle high prices....

427. Finance Minister requests containment of lending rates for housing loans

The Finance Minister of Cyprus, Makis Keravnos, has written letters to the Director General of the Cyprus Banks Association and the Director General of the Association of Credit Acquisition Companies and Credit Facility Managers, requesting measures to control rising lending rates for serviceable loans up to €350,000....

428. Government continues measures to counter inflationary pressures

The government of Cyprus has decided to continue measures aimed at countering inflationary pressures, including an extension of a subsidy on electricity consumption and a reduced excise tax on fuel....

429. IMF projects steady GDP growth for Cyprus in 2023

The International Monetary Fund (IMF) maintained its projection for Cyprus’ economic growth in 2023 at 2.5% of GDP, while real GDP growth is expected to pick up pace in the next year....

430. Philip Lane: Next ECB decisions on interest rates will be based on data (Video)

Philip Lane, the Chief Economist and member of the European Central Bank's (ECB) executive board has said the bank's next monetary policy decisions will be based on incoming data,...

431. Prem Watsa: 'Greek banks are safer'

Greece has entered a virtuous cycle of growth, and the next few years will be especially beneficial to the economy and Greeks if political stability is maintained and business-friendly policies are implemented....

432. Herodotou: 'European banking system in good health'

Governor of the Central Bank of Cyprus (CBC) Constantinos Herodotou said on Wednesday that there’s concern that the banking problems with some European banks could evolve into something bigger....

433. More Cypriots concerned over country's course, says Eurobarometer

The latest Eurobarometer survey covering the winter period of 2022-2023 has revealed that Cypriots are not satisfied with their country's democratic system, with 52% expressing dissatisfaction as opposed to the EU average of 41%....

434. Lawmakers discuss special energy plans for refugees and large families

Lawmakers in Cyprus are urging relevant agencies to create two special plans for the installation of photovoltaics, energy-saving, and subsidizing electric mobility for refugees and large families....

435. Keravnos urges banks to restructure loans and keep rates low

Cyprus Finance Minister Makis Keravnos has urged banks to restructure loans, maintain low lending rates and bank charges, and increase deposit rates in light of continued basic rate hikes by Central Banks. He warned that otherwise the government "would make different thoughts."...

436. Europe's largest economy paralyzed over strikes

Airports and bus and train stations across Germany were at a standstill on Monday, causing disruption for millions at the start of the working week during one of the largest walkouts in decades as Europe's biggest economy reels from inflation....

437. CBC estimates GDP growth at 2.6% in 2023

The Central Bank of Cyprus (CBC) has marginally upgraded its projections for GDP growth this year citing the slightly improved prospects in the external economic environment and the anticipated lower energy prices, amid the continued war in Ukraine....

438. Protests continue as Macron stands firm on pension reform

French workers angry with President Emmanuel Macron and his plan to raise the pension age blocked access to a terminal at Paris' main airport on Thursday as part of a nationwide day of protests, forcing some travelers to get there on foot....

439. Many Cypriots are climate-aware and ready to fight

According to the European Investment Bank's (EIB) annual Climate Survey, 83% of Cypriots under 30 consider the environmental impact of their future job to be a significant factor in their career choice, while 25% consider it a top priority....

440. High prices continue to plague the market

441. Inflation sees downward trend for 7th month in a row

The cost of living in Cyprus has decreased for the seventh month in a row, with the rate of inflation dropping to 6.7% in February. This is down from a peak of 10.6% in July 2022. ...

442. ECB raises interest rates again by .5 percentage points

At noon on Thursday, the European Central Bank (ECB) confirmed that it would stick to its tactics to tackle inflation by announcing a 50 basis point hike....

443. Credit Suisse borrows more than $50 billion from Swiss National Bank

Credit Suisse’s shares soared 30% on Thursday after it announced it would move to shore up its finances by borrowing up to nearly $54 billion from the Swiss central bank, bolstering confidence as fears about the banking system moved from the U.S. to Europe....

444. KEDIPES: Interest subsidies for good loans in 2023

As a reward for borrowers who stick to the repayment schedule of their credit facilities for the year 2023, KEDIPES is moving forward with an interest subsidy for restructured credit facilities that have the ECB base rate as their base rate....

445. Price of eggs in Cyprus up by 23%

According to data released by Eurostat, food prices have significantly risen in 2022....

446. HSBC buys failed Silicon Valley Bank in bid to stem fallout

Governments in the UK and the U.S. took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down....

447. Real estate trends in 2023

Increased inflation, rising interest rates, rising building costs, rising property values, a slight decline in new development approvals, a slight decline to stabilization in the unemployment rate, a slight increase in GDP, and a slight decline in private lending are just a few indicators of the (very) general economic picture....

448. Digital app to compare product prices in the works

Following the withdrawal of the Household Basket proposal in Cyprus, the Consumer Protection Service is now promoting the preparation of a bill for the implementation of a digital tool that will enable the daily comparison of retail prices of products....

449. 'Energy prices in Cyprus must decrease,' says Minister

"We want consumers to be able to open their electricity bills without fear," said newly appointed Energy Minister George Papanastasiou....

450. Saudi Arabia puts $5 billion into Turkish central bank

Saudi Arabia said Monday it deposited $5 billion into the Turkish central bank, likely helping Ankara firm up its long-weakening currency, the lira, after last month’s massive earthquake that struck southeast Turkey and northern Syria....