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511. EU official calls on Cyprus to implement recovery plan or lose funding

A European Commission official on Monday urged the Cypriot authorities to proceed with the implementation of Cyprus’ National Recover and Resilience plan, warning that Cyprus risks losing EU funds in case of new delays....

512. A new billionaire nearly every day during the pandemic

Some 573 people have joined the billionaire ranks since 2020, bringing the worldwide total to 2,668, according to an analysis released by Oxfam on Sunday. ...

513. Bank of Cyprus posts net profit of €21 million in Q1

Bank of Cyprus group announced on Thursday a net profit of €21 million for the first quarter of 2022, compared to net profit of €8 million in the first quarter of 2021....

514. Bank of Cyprus to reduce its employees by 500 in 2022

515. Thousands of Britain's 'fish and chip' shops could close within a year

The United Kingdom's fish-and-chip shops are under severe strain as the prices of key ingredients — including cod and cooking oil — soar as a result of the Russian assault on Ukraine....

516. EC projects economic slowdown and rising inflation in Cyprus

The European Commission has revised its economic projections for Cyprus citing a downward trend due to the effects of Russia’s invasion of Ukraine and the associated sanctions against Moscow on the island’s tourist and services sector....

517. Petrides: 'Things will be difficult in the coming years'

The government will continue supporting households, especially the vulnerable, amid rising inflation, Finance Minister Constantinos Petrides said, warning that tackling inflation is difficult due to its structural nature amid the Ukrainian crisis....

518. Trade deficit at €429 million in February and €729 million in March

The trade deficit in February amounted to €429 million, according to the final data on the month's trade published by the Statistical Service on Tuesday. Additionally, preliminary data from the Statistical Service show that the trade deficit for March 2022 reached €729 million....

519. Inflation in Turkey spikes to almost 70%

Inflation in Turkey reached record levels of almost 70% in April, rising by 8.83 points in a month, according to official statistics released today....

520. Petrides: Government to continue support measures for vulnerable groups

The government is determined to continue the support it has been providing to vulnerable population groups against rising inflationary trends said Finance Minister Constantinos Petrides, speaking on the sidelines of the presentation of the Sponsorship Scheme for Student Dormitories and Rooms in the old city of Nicosia....

521. Cyprus and EU economies facing a 'twin problem' following the war in Ukraine

The EU and Cyprus economies are facing a “twin problem” of rising commodity and energy prices and heightened uncertainty following the invasion of Russia in Ukraine, according to discussions held by the Nicosia Chamber of Commerce and Industry and the European Investment Bank (EIB)....

522. Cashing in: No payment problems for Russian tourists in Turkey

Turkey is trying to attract more Russian tourists by expanding the usage of the Russian Mir payment system in Turkey as it seeks to bypass the payment bottleneck created by Western sanctions....

523. Op-ed: Inflation welcomes 'Generation Z'

Inflation is the rate at which prices rise, which means that we need more money to buy the same product or service. Consequently, if your salary stays the same, then your purchasing power will decrease, as you will be able to buy fewer goods and services....

524. Property sales hit 14-year high in Cyprus

Property sales in March, as measured by the number of sale contracts deposited at Land Registry offices, hit a 14-year high according to figures released by the Department of Lands and Surveys....

525. Inflation hits historic high in Cyprus reaching 7.1% in March

Inflation in Cyprus soared to 7.1% in March 2022, continuing its upward trend for the twelfth consecutive month....

526. Medvedev: 'We will supply food and crops only to our friends'

Russian President Vladimir Putin said sanctions imposed by Western nations would lead to a global food crisis, Reuters reported....

527. The West’s critical endurance test

It’s always hard to see the big picture during a crisis that’s still unfolding, just as it’s difficult to remember some of history’s most fundamental lessons. ...

528. Cyprus growth expected to ‘slow sharply’

Economic growth in Cyprus will slow sharply before recovering, due to the shock associated with the war in Ukraine, the International Monetary Fund has said, adding that the key near-term challenge “is to calibrate a policy response to the economic fallout from the war in Ukraine.”...

529. Lagarde: Cyprus will be affected by inflation and rising energy costs

Cyprus will be affected by inflationary pressures and higher energy costs due to its dependence on oil imports for electricity generation, according to European Central Bank President Christine Lagarde....

530. Op-ed: Fertilizer inflation presages a global food supply crisis

We know that the war in Ukraine has led to sharp increases in prices for both food and fuel. This in turn has sparked concern that we may see a repeat of the famine and food riots that took place in 22 countries in the years following the global financial crisis, caused by a perfect storm of rising commodities prices....

531. Op-ed: 'Putin’s war threatens millions with hunger'

Russia’s army is attempting to starve the people of Mariupol into submission in an act of barbarity that almost certainly constitutes a war crime. But the knock-on effects of Vladimir Putin’s invasion of Ukraine threaten hunger, even starvation, for millions of people beyond the immediate theatre of war....

532. Financial assistance of more than 2.5 million euros to affected farmers

Financial assistance in the amount of €2,529,000 will be given to farmers who suffered losses due to damage caused to their crops from adverse weather conditions and other causes, according to an announcement from the government today. ...

533. Agriculture Minister: Cyprus faces difficulties in food supply and raw materials

The EU’s Ministers for Agriculture discussed the current situation in the agricultural market as a result of Russia’s invasion of Ukraine, during the Agriculture and Fisheries Council which was held in Brussels on Monday....

534. Farmers demand solutions to rising prices of grain and animal feed

Cypriot farmers staged a protest on Monday (21/3) demanding immediate solutions to the high cost of production and low selling prices of milk and meat....

535. Everything You Need to Know About Crypto Today (at least for the next 8 hours!)

Don’t be intimidated by my headline if you know nothing about Bitcoin or the Bored Ape Yacht Club. You are in the majority....

536. Agricultural Minister to farmers: 'Don't panic'

Support measures for farmers at EU level are expected soon, Agriculture Minister Costas Kadis said on Thursday urging farmers not to panic....

537. Finance Ministry increases 2022 inflation estimate to 4%

The Ministry of Finance has revised an initial 2022 inflation estimate of 1.5% to 4% due to the rise in petrol prices in the midst of the crisis in Ukraine....

538. World faces food crisis due to Ukraine war

A global food crisis looms unless the war in Ukraine is stopped because fertilizer prices are soaring so fast that many farmers can no longer afford soil nutrients, Russian fertilizer and coal billionaire Andrei Melnichenko said on Monday....

539. Finance Minister concerned over rising energy and grain prices

Finance Minister Constantinos Petrides said today that he is concerned about the rising prices of grain and energy and the possibility of 'stagflation', but excluded the possibility of the Cypriot economy slipping into recession....

540. Fuel tax to be reduced by 7 cents per liter

Cyprus Finance Minister Constantinos Petrides announced on Thursday a reduction in fuel tax following a Cabinet meeting, at the Presidential Palace....