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631. Greek PM meets with President Anastasiades in Cyprus

Greek Prime Minister Kyriakos Mitsotakis and Cyprus President Nikos Anastasiades said Friday that international law, strong alliances and the countries’ presence in the EU are what protect against Ankara's rhetoric and provocations....

632. It's full steam ahead for the Cyprus-Greece ferry

Preparations are on overdrive for the first ferry round-trip on Sunday between Cyprus and Greece after 21 long years, according to the shipping line coordinating the route....

633. 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....

634. 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....

635. 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. ...

636. 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....

637. 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. ...

638. 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. ...

639. 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....

640. 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....

641. 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....

642. Global IPO market experiences significant slowdown in Q1 2022

643. 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....

644. 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....

645. 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....

646. 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....

647. 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...

648. 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. ...

649. 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....

650. 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...

651. 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....

652. 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....

653. 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....

654. Price hike of raw materials affecting developers and construction costs

The construction industry is suffering as the price hike of raw materials continues, with developers crushed under higher costs as they are deprived of Russian money....

655. 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....

656. Greece sets price ceiling on electricity

The government is to introduce a price ceiling on the wholesale electricity market as the request for coordinated measures at the European level, which was reformulated on Monday at the Extraordinary Council of Energy Ministers by Energy Minister Kostas Skrekas, did not appear to gain traction....

657. Zelensky warns of world food crisis as Russia blocks 4.5m tons of grain leaving Black Sea

The Russian army bombed a grain warehouse in Ukraine and tightened its blockade on Black Sea ports, sparking fears of a new global food crisis....

658. 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....

659. 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)....

660. Cyprus - Greece ferry connection: Tariffs and dates

After 21 years, the maritime passenger connection between Cyprus and Greece becomes a reality. On June 19, M/V Daleela will set sail from the port of Limassol on its first of many roundtrip voyages to Piraeus, thus inaugurating the new service put in place by the Ministry of Shipping....