Search

1231. Central banks across Europe jack up interest rates to fight inflation

Central banks across Europe raised interest rates on Thursday, some by amounts that shocked markets, and hinted at even higher borrowing costs to come to tame soaring inflation that is eroding savings and squeezing corporate profits....

1232. US Fed raises interest rates by .75%, largest hike in 30 years

The US central bank has announced its biggest interest rate rise in nearly 30 years as it ramps up its fight to rein in soaring consumer prices....

1233. Erdogan threatens Greece yet again

Turkish President Recep Tayyip Erdogan has issued fresh threats against Greece, this time accusing the country of supporting an international campaign directed against his country....

1234. Myth-buster: IFRS 17 an accounting standard for insurance contracts

As the title attests, this short article aims at busting the myth which states that IFRS 17 – Insurance Contracts is only relevant for insurers or for companies regulated as insurance entities. ...

1235. The biggest scam in higher education - the master's degree

It's graduation season. Over the past couple of weeks, some 2 million college students have earned their bachelor's degrees and headed off to the next stage of their lives....

1236. EU strikes deal on adequate minimum wage in member states

With a deal struck on Monday night, Parliament and Council negotiators agreed on EU rules to set adequate minimum wages, as provided by national law and/or collective agreements....

1237. Looking for answers

There are many major issues that need to be addressed, many of them divisive, before a new president is to be elected in Cyprus. ...

1238. No end in sight to weekly price hikes in fuel

Increases in fuel prices are taking place almost on a weekly basis, according to gas station owners. ...

1239. Turkey buying stolen Ukrainian grain from Russia

Kyiv's ambassador to Ankara said on Friday Turkey is among the countries that is buying grain that Russia stole from Ukraine....

1240. CBC: New loans drop by almost 50% in April

Cypriot banks granted 50% fewer loans this month in comparison to last month due to a sizeable reduction in new housing loans....

1241. Mykonos' DK Oyster Bar in legal hot seat for overcharging

Two American tourists are taking legal action against a Greek beach bar after it charged them more than £500 for two drinks and a plate of crab legs....

1242. Global IPO market experiences significant slowdown in Q1 2022

1243. Bank of Cyprus used car auction on the 7th of June

The Bank of Cyprus is once again holding an auction for used cars. See the list below with prices and click on the links for additional information....

1244. Fee free cash withdrawals at supermarkets and bakeries

Following an international trend, consumers in Cyprus will now be able to withdraw cash without a fee at participating supermarkets, bakeries, butchers and gas stations. The maximum withdrawal limit is set at 100 euros....

1245. Industrial prices soar by 19.5% in Cyprus

Cyprus’ Index of Industrial Output Prices for April 2022 reached 123.8 units (base 2015=100), recording an increase of 19.5% compared to the same month last year, according to data published by the island’s Statistical Service (CyStat) on Monday....

1246. Government to grant one-time subsidy for children's tuition

During last week's cabinet meeting, the council of Ministers decided to impose measures to help mitigate inflationary pressures on the general population. ...

1247. Europe agrees to ban 90% of Russian oil

European Union leaders agreed Monday to embargo most Russian oil imports into the bloc by year-end as part of new sanctions on Moscow worked out at a summit focused on helping Ukraine with a long-delayed package of new financial support....

1248. 103 million euros in support measures for vulnerable households

Cyprus’ government announced a new package of financial support measures for vulnerable groups of the population, to the tune of 103 million euros on Friday, to offset the impact of inflation and the war in Ukraine....

1249. CBC: Cryptocurrencies are a potential risk to the economy

Losing 26% of its value in the last month, Bitcoin and other cryptocurrencies are in danger of dragging the "real economy" with their unpredictable fluctuations....

1250. Zelenskiy: 'Stop playing around with Russia, end war'

President Volodymyr Zelenskiy urged the West to stop playing around with Russia and impose tougher sanctions on Moscow to end its "senseless war" in Ukraine, adding his country would remain independent, the only question was at what price....

1251. RICS Cyprus Property Price Index with KPMG in Cyprus announces results of Q1 2022

KPMG in Cyprus announces that the “RICS Cyprus Property Price Index with KPMG in Cyprus” has been issued for Q1 2022...

1252. Slight rise in economic sentiment in May

Economic sentiment in Cyprus improved slightly this May as the Economic Sentiment Indicator (ESI-CypERC) increased by 1.1 points compared with April 2022, according to the results of the Business and Consumer Survey of the Economics Research Center of the University of Cyprus....

1253. 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....

1254. 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. ...

1255. EU Energy Commissioner: 'Cyprus has enormous potential in terms of solar and wind energy production.'

In the wake of rising energy costs due to Russia's invasion of Ukraine, Kathimerini sits down with EU Commissioner for Energy, Kadri Simson, to discuss the EastMed pipeline, Europe's push toward Green energy and the potential for Cyprus to ensure its citizens both affordable prices and energy security by developing solar and wind power....

1256. Battlefield scenes as Cypriot farmers descend on capital

Sheep and goat farmers in Cyprus staged a demonstration outside the Presidential Palace in Nicosia on Wednesday, spilling milk and setting hay on fire while some protesters spoke out against any changes in halloumi legislation...

1257. 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....

1258. 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....

1259. 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....

1260. Moscow warns of retaliation if Helsinki joins

Finland said on Thursday it would apply to join NATO 'without delay', with Sweden expected to follow, as Russia's invasion of Ukraine looked set to bring about the very expansion of the Western military alliance that Vladimir Putin aimed to prevent...