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451. Finance Ministry's new measures for the vulnerable in the works

The Finance Ministry is considering new measures to support particularly the vulnerable groups of society amid the continuing pressures from high prices and inflation, Makis Keravnos Minister of Finance said on Monday, adding the measures were in the pipeline irrespective of the rating upgrades by Moody’s and DBRS Morningstar....

452. Real estate boom in Greece and Cyprus

The real estate landscapes of Greece and Cyprus are undergoing significant transformations, with both nations showcasing promising growth and recovery. However, beneath the surface of these top-line numbers, there are underlying challenges and disparities that need to be addressed....

453. Unexpected earnings dip in 2022 at €2,202

In a surprising turn of events, Cyprus witnessed its first annual drop in monthly earnings after seven prosperous years....

454. Moody's double upgrade ignites investor interest

Last Friday, Moody's delivered a double upgrade for Cyprus, propelling the nation into the investment-grade category recognized by all four major financial firms. Although these rankings may appear modest, their real-world impact is substantial....

455. Electricity prices surge by 3% in latest billing cycle

In a recent development, electricity prices have witnessed a notable uptick, surging by 3% when compared to the preceding month. Christina Papadopoulou, the spokesperson for EAC (the electricity authority), elucidated that a significant portion of this increase, amounting to 1.20%, is earmarked for third-party entities rather than being allocated to AHK....

456. Violent clashes between tenants and property owners as rents spike 700%

A craftsman in Turkey, who has been diligently paying rent for two decades, now finds himself threatened with eviction due to an unexpected rent increase of nearly 700%. His monthly rent has surged from 3,200 Turkish lira (110 euros) to a staggering 25,000 lira (867 euros)....

457. E-kalathi takes on soaring fuel and food prices

The ongoing debate within the House Commerce Committee regarding the Retail Price Recording and Monitoring Bill has become both tiresome and contentious....

458. Cablenet and COSMOTE TV kick off exclusive Cyprus Football League broadcast

Cablenet and COSMOTE TV have announced their collaboration to exclusively broadcast the top matches of the Cyprus Football League in Greece....

459. California boosts minimum wage for fast food workers to $20 per hour

California is raising the minimum wage for fast food workers, marking a hard-won victory for those workers and union organizers....

460. Electricity bills to surge by 4.56% due to soaring fuel costs

Households are set to face another financial hit as electricity bills are expected to increase by 4.56%, coinciding with a continued upward trend in energy costs....

461. Foreign buyers flock to Cyprus real estate

Recent data on property sales in Cyprus reveal distinct trends in different provinces. Notably, the real estate landscape in Nicosia contrasts sharply with that of coastal provinces....

462. Houses and agricultural plots for sale by AstroBank

AstroBank is selling houses and agricultural plots at affordable prices in Paphos, Famagusta, Larnaca and Nicosia....

463. European Parliament clears the air on carry-on baggage fees

From now on, traveling by plane will be a different process for millions of passengers in Europe who wish to travel with carry-on baggage....

464. Apartments rule, but prices vary by province

According to Mr. Loizou of Ask Wire, the majority of Cyprus' population resides in apartments. Therefore, it comes as no surprise that among young buyers, typically around 30 years old, the most sought-after housing option is an apartment, particularly a two-bedroom one, whether for purchase or rent. However, the question arises: How do housing prices vary across different provinces?...

465. CBC lowers GDP growth projections for 2023 and 2024

The Central Bank of Cyprus has revised its growth projections for 2023 and 2024. They now expect GDP growth to be 2.4% in 2023 and 2.7% in 2024, down from their previous forecasts of 2.6% and 2.8%. This is due to Western sanctions against Russia and the fragile external environment affecting professional and non-tourism services....

466. Cyprus endorses bold auto rules for health and industry

Cyprus supported the compromise proposal put forward by the Spanish Presidency of the EU Council on the proposed Euro 7 regulation, during a meeting of the EU Competitiveness Council in Brussels, on Monday, with the permanent secretary of the Ministry of Energy, Marios Panayides, stressing that the new rules should protect human health while ensuring the competitiveness of the automotive industry....

467. E-kalathi: Cost of basket per province

A few hours before tomorrow's session of the House Trade Committee, during which the bill on the e-kalathi digital tool will be discussed again, The Consumer Protection Agency conducted a price survey for 51 products in 5 supermarkets per province and presents indicatively the information and options that the consumer could have had today if he had the specific electronic application at his disposal....

468. Construction of petrol storage terminal must be a priority, says Energy Minister

The construction of a petroleum products storage terminal with a completion date of 2025 is considered a project of exceptional importance with regard to Cyprus' strategic energy autonomy, Minister of Energy, Commerce and Industry, George Papanastasiou, ...

469. How high is too high before tax relief kicks in?

Diesel prices have dipped by nine cents per liter at gas stations compared to late August, while unleaded 95-octane petrol is now six cents cheaper....

470. €369 million EIB loan for smart investments

The government has secured a €369 million loan from the European Investment Bank (EIB) with favorable terms to support expenditures and investments within the framework of the "Thalia" program. ...

471. Consulco’s London Credit Fund; Existing & New Investment Opportunities

472. E-kalathi bill sparks debate in Parliament

During yesterday's session of the Parliamentary Committee on energy and trade, the debate shed light on a crucial aspect of the E-kalathi bill. It became evident that there are lingering disagreements among stakeholders and the majority of MPs on this issue. ...

473. Houses and agricultural plots for sale by AstroBank

474. Olive oil prices soar due to shortage and weather woes

The price of olive oil is expected to rise dramatically, possibly exceeding 10 euros per liter and reaching 15 euros in Europe, according to agricultural organizations....

475. Ministry on high alert as fuel prices soar globally

Constantinos Karagiorgis, Director of the Consumer Protection Service at the Ministry of Commerce, Energy, and Industry, has noted a concerning and continuous rise in fuel prices on the international stage. ...

476. Foreign demand fuels Cyprus real estate boom as local interest wanes

Demand in the real estate market remained steady from January to August despite rising prices, but interest has gradually waned, according to Paul Loizou, CEO of Ask Wire. ...

477. Essentials get affordable from November 2023

In a significant development, the Greek Tax Department has announced that the Ministerial Council, during its session on September 13, 2023, has given the green light to an official decree that modifies the VAT legislation. ...

478. Consumers revolt as rising prices trigger surge in complaints

In recent months, the Pancyprian Consumers Association has been inundated with consumer complaints, particularly following the reinstatement of excise duty on fuel and the termination of electricity subsidies. ...

479. Borrowers in a high-stakes game of loan roulette

In 2023, borrowers face a pivotal year, primarily due to the soaring levels of inflation, rising prices, and increasing interest rates. This year also carries significant importance for banks, not in terms of profits, ...

480. Ukraine sparks trade war with legal action over food bans

Ukraine has filed lawsuits to the World Trade Organization (WTO) against Slovakia, Poland and Hungary over their bans on food imports from Kyiv. ...