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1351. Slight increase in fuel prices

A slight increase in fuel prices was recorded in the last three weeks in Cyprus, according to the Consumer Protection Service (CPS) of the Ministry of Energy, Commerce and Industry. ...

1352. 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....

1353. High prices continue to plague the market

1354. Bank stores bags of stone instead of $1.3 million worth of nickel

The London Metal Exchange revealed a surprising mix-up last week at a warehouse in the Dutch port city of Rotterdam....

1355. Construction materials up by 10.73% in February 2023

The Price Index of Construction Materials for February 2023 reached 136.10 units (base year 2015=100), recording an increase of 10.73%, according to data published by the Statistical Service of Cyprus on Monday....

1356. UK to require travel authorization from Nov 2023, exempting EU citizens

The United Kingdom authorities have announced that the country will introduce a travel authorization requirement – the Electronic Travel Authorisation (ETA) – in November 2023, but this will not apply to EU nationals until next year....

1357. 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. ...

1358. Macron under pressure as pension protests turn violent

French President Emmanuel Macron on Friday faced the gravest challenge to his authority since the so-called Yellow Vest protests after his decision to push through a contested pension overhaul without a vote prompted violent unrest overnight....

1359. 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....

1360. 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....

1361. It's been 10 years since the haircut

In March 2023, Cyprus will mark 10 years since the deposit haircut. Ten years after the 2013 crisis, Cyprus looks completely different. During this decade, many changes have taken place and its citizens have experienced many different situations,...

1362. Minister of Agriculture pushing for a 'Farmers Card'

Agriculture Minister Petros Xenofonos announced today during a meeting of the House of Representatives Agriculture Committee that he intends to create a farmer's card to provide services to the agricultural world....

1363. Say goodbye to an iconic symbol of Sin City

When you walk the Las Vegas Strip you see women wearing showgirl outfits taking pictures with tourists. They work alongside Spider-Men, Batmen, and shirtless police officers and firefighters....

1364. March Newsletter of K. Treppides & Co Ltd: CySEC

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....

1365. Banks around the world feel force of SVB fallout

U.S. President Joe Biden vowed to do whatever was needed to address a threatened banking crisis after the collapses of Silicon Valley Bank and Signature Bank forced regulators to step in with emergency measures....

1366. Price of eggs in Cyprus up by 23%

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

1367. 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....

1368. 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....

1369. US specialist in Cyprus to treat patient's rare disease, 100% funded by EU

A significant development in the EU medical industry has occurred in Cyprus involving EU cross-border treatment. Greece's National Healthcare Service (EOPYY) recently approved using the "Planned medical treatment abroad" scheme to cover the costs of a Greek patient receiving surgical treatment for a rare disease by a world-leading US-based surgeon in a private hospital in Cyprus. ...

1370. Musk building 'utopian' town for employees

Elon Musk has reportedly bought thousands of acres of land about 35 miles outside of Austin and plans to build his own town there for employees to live and work....

1371. 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....

1372. Consumers cutting back on non-essential items as cost of living rises

As the cost of living crisis continues to rise globally, consumers have drastically adjusted their spending behaviors, with the majority (53%) of global consumers “holding back” on non-essential spending. ...

1373. Ferry will service Larnaca, as well as Limassol, to Piraeus

The Daleela ship will begin sailing from Larnaca to Piraeus in August, connecting Cyprus and Greece by sea. ...

1374. Tourists are spending 13% more in Cyprus

If there is one thing that has changed in the past year's data on the tourism industry, it is the realization that, even though there are fewer visitors coming in than in 2019,...

1375. '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....

1376. Toblerone forced to change logo due to its un-'Swissness'

The most famous mountain in Switzerland is no longer appropriate for Toblerone to use on its packaging. Due to its decision to relocate a portion of its production to the Slovakian capital, Bratislava, this year, US company Mondelez, ...

1377. World's most expensive home up for sale

London’s most expensive home is up for sale, according to Quartz. Set on four private acres in Regent Park, one of the city’s eight royal parks, the home’s reported asking price is about $300 million, or £250 million....

1378. Cyprus GDP up by 5.6%, higher than EU or Eurozone estimates

Cyprus’ gross domestic product (GDP) grew by 5.6% in real terms in 2022, according to a provisional estimate published by the country’s statistical service CyStat on Wednesday....

1379. Parisian opera house that inspired ‘Phantom of the Opera’ becomes an Airbnb

For a limited time only, a Parisian opera house box seat typically reserved for visiting dignitaries is being transformed into an Airbnb and priced for the ridiculously reasonable €37 per night....

1380. Netflix cuts prices in 30 countries

Streaming giant Netflix has cut prices in more than 30 countries as it attempts to attract more subscribers....