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541. Petrides: Cyprus banks are safe from exposure to Russia

The economic sanctions imposed against Russia following the invasion of Ukraine are not affecting Cyprus to a large extent as the island’s banking system has no exposure to Russia...

542. Developments in the first few hours of the Russian invasion of Ukraine

Kharkiv - Fierce battles Fight in the cities, in the squares, where you live said in his sermon the President of Ukraine...

543. US cranks up the information warfare against Putin

Far from buying into claims the Ukraine showdown is easing, the United States is cranking up its relentless informational warfare campaign against Russia, keeping the world on high alert for a possible invasion of Ukraine....

544. Turkish opposition leader refuses to pay power bill in protest

Turkey’s main opposition leader said he will not pay his power bills until Tayyip Erdogan withdraws recent price hikes, and the president’s ruling party slammed the move on Thursday as a provocation amid growing discontent over surging inflation....

545. PEO concerned about increase in fuel and basic consumer products

The Pancyprian Federation of Labor (PEO) has expressed its concern about the continuous upward trend in fuel prices, which, as it notes, "will add to the cost of basic consumer products"....

546. Inflation in Cyprus spikes to an annual 5.4% in January

January 2022 recorded a spike in Cyprus inflation, rising to 5.4%. At the same time, the Consumer Price Index (CPI) decreased by 0.53 units falling to 104.57, compared to 105.10 in December 2021, according to the Statistical Service of the Republic of Cyprus....

547. IMF: Forecasts for global recovery reduced to 4.4% for 2022

"The world economy is entering 2022 weaker than previously expected," the International Monetary Fund said in a statement on economic forecasts for the new year. Pandemic, inflation and climate crisis will determine global growth, according to a report by the International Monetary Fund (IMF)....

548. Rising anger with Turkey drives calls for reunification in crisis-hit northern Cyprus

In his sun-filled office in north Nicosia, Şener Elcil is plotting his next protest. Anger, he says, is in the air in Turkish-occupied northern Cyprus....

549. Cypriot economy will continue to recover output lost during 2020

The Cypriot economy in 2021 recovered the output lost during the 2020 COVID crisis and will continue to grow with an average 3.7% in the years 2022 – 2024, the Central Bank of Cyprus expects, according to its economic bulletin, stressing that risks to the baseline scenario are balanced albeit slightly upside concerning inflation....

550. Turkey’s inflation hits a 19-year high of 36%

Turkey’s yearly inflation climbed at the fastest pace in 19 years, jumping to 36.08% in December, official data showed on Monday....

551. What's left for the Turkish Cypriot economy after 2021

Shortly before the pandemic began, Turks and foreign analysts warned of the effects of the Erdogan government's wrong moves and decisions on the economy....

552. In exodus from Lebanon, the well-off find new home in Cyprus

Many well-off Lebanese who escaped their country’s economic tailspin for a new life in the nearby island nation of Cyprus say the transition has been a whirlwind of emotions....

553. Turkish lira whiplashes after Erdogan moves to protect savings

Turkey's lira rocketed back from record lows in volatile trading on Tuesday after Turkish President Tayyip Erdogan proposed measures to protect local currency savings against such swings....

554. Turkish lira resumes slide to 17.5 against the dollar

The Turkish lira continued its freefall after President Recep Tayyip Erdogan rejected warnings from businesses about the dangers of recent interest rate cuts and vowed there was “no going back” from his approach....

555. Prices of consumer goods and services up 4.7% in November

The Harmonized Index of Consumer Prices, which measures the changes over time in the prices of consumer goods and services acquired by households, increased by 4.7% in November 2021, compared to the index of November 2020....

556. Prices of construction materials up by 17.87% in November

The Price Index of Construction Materials for November 2021 recorded an increase of 17.87% compared to the same month of the previous year, according to data released Friday by the Statistical Service of Cyprus....

557. Turkish lira blows through 15 to dollar ahead of rate decision

The Turkish lira dropped to an all-time low beyond 15 against the dollar on Thursday ahead of another expected interest rate cut by the central bank, which has fallen in line with President Tayyip Erdogan’s risky new economic program....

558. Inflation in Britain jumped to its highest level in the last 10 years at 5.1%

Inflation in Britain has jumped to a 10-year high due to a sharp rise in prices, according to data released on Wednesday on the eve of the Bank of England's decision on interest rates....

559. Parliamentary Committee report on state budget 2022 sees significant uncertainties due to pandemic

A report by the Parliamentary Committee of Financial and Budgetary Affairs on the State Budget for 2022 ahead of the plenary debate and vote this week, stresses the significant uncertainties affecting the projections upon which the budget is based....

560. Inflation in Cyprus and the EU rose to 4.4% in October

The annual inflation rate in Cyprus was 4.4% in October, slightly above the eurozone average (4.1%) and the EU average,...

561. 21% of Cypriots found it difficult to heat their homes in 2020

21% of Cypriots found it difficult to heat their homes in 2020, compared to 8% on average in the European Union...

562. Government announces a reduction of VAT for vulnerable households

Cabinet Ministers today announced the reduction of VAT charged to electricity bills of vulnerable households. ...

563. Higher costs on goods are here to stay

Market analysts do not see an improvement in the cost of goods in the next period and until the first half of 2022....

564. The City of London Is Hiding the World’s Stolen Money

In 1969, two years after the Cayman Islands, a British territory, passed its first law to allow secretive offshore trusts, an official government report struck an ominous note....

565. UK citizens rush to fill up amid shortages

The British government on Thursday night urged citizens not to panic over the closure of dozens of gas stations across the country, which was due to the significant shortage of drivers of tankers, trucks and other heavy goods vehicles....

566. EY: Liquidity-fueled IPO markets break records in Q1 2021

567. World hears how Mars sounds like

NASA’s Mars 2020 Perseverance rover has sent back the first audio clip from the Red Planet, capturing a faint Martian breeze, with a longer video showing the remarkable moment the rover touched down on the surface...

568. Pandemic's impact on tourism poses significant risks to Cyprus economy

The European Commission’s summer economic forecast expects significant risks to the Cyprus economy as a result of the coronavirus pandemic’s impact on the tourism sector, which is predicted to see just 25% of last year’s revenues and high unemployment....

569. Eurozone set for record recession, EU Commission warns

The eurozone economy will contract by a record 7.7 percent this year because of the Covid-19 pandemic and inflation will almost disappear while public debt and budget deficits will balloon, the European Commission forecast on Wednesday....

570. «Growth momentum moderates» in Cyprus according to Εuropean Commission Autumn Economic Forecast

"Growth momentum moderates" in Cyprus, according to the headline assessment of the European Commission`s Autumn Economic Forecast for the country, presented today by Commissioner Moscovici in Brussels....