Search

151. Cyprus braces for credit ratings in 2023

The ratings will take place in a year marked by a projected economic slowdown, amid the continued uncertainty that clouds the economic outlook, due to high inflation and the energy crisis, fueled by the continuing war in Ukraine...

152. Cash still king as Cypriots take digital leap

The growing preference of Cypriots for digital means of payment, but also the desire to maintain the ability to pay with cash and checks, are the main conclusions of the report of the Central Bank of Cyprus on Retail Payments in Cyprus for the years 2014-2021...

153. What did Cypriot consumers purchase in 2022?

Cashless transactions have significantly increased since businesses are now required to accept credit or debit cards. Card payments now account for approximately 72% of all commercial transactions, rather than cash. ...

154. Students most frequent internet users in Cyprus

Students are the group most frequently connected to the internet (99%), according to the results of the 2022 household information and communication technology usage survey, published by the Statistical Service on Thursday...

155. Cyprus retail sector continues climb despite inflation

Black Friday, with its high levels of traffic and shopping, appears to have given way to the Christmas holiday season. The market is still moving well, with increased foot traffic in shopping malls and main streets....

156. Prices of basic consumer goods fluctuating wildly

The average retail price levels in effect on December 7, 2022, compared to November 9, 2022, show that prices for basic consumer goods are staggering....

157. Economic sentiment slightly down in Cyprus

In November 2022, economic sentiment in Cyprus deteriorated slightly, as the Economic Sentiment Indicator decreased by 0.5 points compared with October 2022, according to the Business and Consumer Survey by the University of Cyprus...

158. Black Friday: See how the annual shopping event is shaping up (photos)

On Thursday afternoon, sales began to increase significantly, particularly in shopping centers that benefited from favorable weather conditions, however, as of Friday morning, traffic appears to be somewhat subdued, at least in comparison to the corresponding images from 2019....

159. Bank's chairman buys BOC shares for 3 consecutive days

160. North detains two teens on counterfeit spending spree

Two Greek Cypriot teenagers accused of using fake money to make purchases in the north have been arrested by Turkish Cypriot police, while another man from the south was detained after cartridges were found in his vehicle...

161. Complaints about Black Friday deals have begun

The Consumer Association had begun receiving complaints about deceptive product offers as Black Friday draws near....

162. Rift over gas cap looms over EU energy crisis plans

EU energy ministers meet in Brussels on Thursday to approve the latest set of emergency measures to mitigate an energy crisis, but the plans risk being eclipsed by disagreements over whether and how to cap gas prices...

163. What do Cypriots buy on Black Friday?

Only eight more days until the much-anticipated Black Friday shopping day, and ads for discounted goods continue to pound the public. Every year, many people look forward to this day in order to find the best deals on products they need....

164. Tomatoes and potatoes now regarded as luxury items

The Consumer Protection Agency published the retail prices of basic consumer goods on Friday with a reference date of 9/11/2022. The retail prices show significant price increases for potatoes and tomatoes and price decreases for some fish and legumes....

165. Loans are increasing as interest rates rise

New loans provided by Cypriot banks rose by €217 million in September compared with August, driven mainly upwards by corporate loans over €1 million which rose by 127.6 million....

166. Cyprus's economic sentiment improved in October as a result of services and retail trade

In October 2022, economic sentiment in Cyprus improved as the Economic Sentiment Indicator (ESI-CypERC) increased by 0.4 points compared with September 2022....

167. Consumers preferred plastic money over cash this summer

Consumer card usage for purchases is still on the rise. The most recent JCC data, covering Q3 2022, reveals an increase in card usage in Cyprus for both Cypriot and foreign cards. ...

168. Are milk, meat and coffee still affordable?

According to the Consumer Protection Service's Price Observatory, price increases of up to 21% and price decreases of up to 13% were observed between September 14 and October 12....

169. Loan interest rates rise for a second consecutive month

Lending interest rates in Cyprus rose for a second consecutive month in August, with credit institutions pricing rate hikes by the European Central Bank and increased credit risk due to uncertainty and inflation pressures fuelled by the war in Ukraine....

170. EU countries approve energy windfall levies, turn to gas price cap

European Union countries agreed on Friday to impose emergency levies on energy firms’ windfall profits and began talks on their next move to tackle Europe’s energy crunch – possibly a bloc-wide gas price cap....

171. Why EVs are a flop in Cyprus … so far

It's only a 150-kilometer drive across Cyprus; well below how far an average electric vehicle can drive on a single charge. Range anxiety — a major barrier in the shift to EVs — shouldn't be a thing....

172. Ask WiRE Index: Apartments lead the way in sale and rent price hikes in Q2

Ask WiRE, a company combining real estate know-how with technology has published its Q2 2022 edition of the Ask WiRE Index for property sale and rental values. The Ask WiRE Index covers all districts and main property types, with values from Q4 2009....

173. Russia has amassed huge profits from fuel despite sanctions

Russia has amassed €158 billion in revenues from fossil fuel exports in the six months of its war against Ukraine, benefiting from high prices, according to a study by an independent think tank published today, which calls for more effective sanctions....

174. Russia says no to oil price caps, warns of cut off

The Kremlin said on Friday that Russia would stop selling oil to countries that impose price caps on Russia's energy resources - caps that Moscow said would lead to significant destabilization of the global oil market....

175. Cypriot economic sentiment at 17 month low

The economic sentiment in Cyprus deteriorated in August to a 17-month low, as the Economic Sentiment Indicator (ESI-CypERC) decreased by 4.5 points compared with July 2022....

176. College students scramble for affordable housing

Universities in the Republic of Cyprus are in the hunt for off-campus affordable housing solutions in a tough post-pandemic market, following reports that many students are resorting to nearby abodes both north and south of the divide line...

177. Greek Cypriots bring in millions in food and fuel purchases, says T/C newspaper

Turkish Cypriot newspaper "Kibris" claims that thousands of Greek Cypriots visit the occupied territories every day to shop for fuel and food, which, thanks to the exchange rate, is much cheaper than in the controlled areas of the Republic....

178. Turkey doubles Russian oil imports, filling EU void

Turkey doubled its imports of Russian oil this year, Refinitiv Eikon data showed on Monday, as the two countries are set for broader cooperation in business and especially energy trade in the face of western sanctions against Moscow....

179. Turkey must behave as a NATO ally

Senator Bob Menendez, chair of the United States Senate Committee on Foreign Relations, calls for more steps to deepen the multidimensional relationship between Greece and the US, from defense and security to emerging technologies, the digital economy, the maritime industry and commercial shipping....

180. Interior Ministry aware passport applications did not meet criteria

In the Audit Service's report on the naturalization program, references are made to the manner in which passports were granted, stressing that there were cases in which the Ministry was aware that there were applications that did not meet the criteria, characterizing its approval as illegal....