https://knews.kathimerini.com.cy/en/news/cyprus-seeks-to-amend-recovery-plan-amid-project-struggles
The Cyprus Recovery and Resilience Plan Directorate is currently working with the European Commission to make amendments to the Recovery and Resilience Plan. ...
https://knews.kathimerini.com.cy/en/business/cyprus-surpasses-pre-pandemic-financial-levels-with-growing-surplus
Cyprus is bouncing back from recent economic challenges, with its financial health improving dramatically. Current fiscal surpluses now exceed what they were before the pandemic, thanks to a significant increase in revenue....
https://knews.kathimerini.com.cy/en/comment/opinion/cypriot-banks-sending-loans-abroad-a-growing-risk
Yesterday, I had a conversation with someone who truly understands banking—probably more knowledgeable than many who think they do....
https://knews.kathimerini.com.cy/en/news/1-imf-raises-cyprus-growth-forecast-for-2024
The International Monetary Fund (IMF) has raised its forecast for Cyprus's economic growth in 2024 from 2.7% to 3.3%. This updated prediction comes from the IMF's October World Economic Outlook report released on Tuesday....
https://knews.kathimerini.com.cy/en/business/kotsovolos-one-destination-the-full-apple-experience
For those who are looking for the ultimate Apple experience, the answer is simple: Kotsovolos!...
https://knews.kathimerini.com.cy/en/news/finance-minister-stands-firm-on-economic-stability-amid-rising-pressures
In a recent interview with Andreas Kimitris, Cyprus Finance Minister Makis Keravnos spoke candidly about his firm stance on the country’s economic stability. ...
https://knews.kathimerini.com.cy/en/news/ecb-cuts-rates-again-as-eurozone-inflation-and-economy-struggle
The European Central Bank (ECB) has cut interest rates for the third time, marking the first consecutive reduction in 13 years....
https://knews.kathimerini.com.cy/en/news/global-debt-to-exceed-$100-trillion-this-year
Global public debt is nearing the size of the world economy, posing risks to living standards in developed nations, the International Monetary Fund (IMF) warned....
https://knews.kathimerini.com.cy/en/news/bank-profits-in-crosshairs-as-tax-talks-heat-up
The future of a special tax on bank deposits paid to the state may be heading for a shift, though a final decision is not guaranteed. ...
https://knews.kathimerini.com.cy/en/news/morocco-s-flooding-and-antarctic-greening-highlight-climate-crisis
Striking images from the Sahara Desert and the Antarctic Peninsula reveal dramatic changes in two of the world’s most extreme environments, driven by climate change....
https://knews.kathimerini.com.cy/en/news/cbc-top-savings-interest-rate-in-cyprus-hits-2-45
In August 2024, the Central Bank of Cyprus reported that the highest interest rate for term deposits of up to one year for households reached 2.45%. ...
https://knews.kathimerini.com.cy/en/news/tougher-penalties-for-employers-skirting-social-security
The government is poised to toughen penalties for undeclared work in an effort to address the widespread issue....
https://knews.kathimerini.com.cy/en/news/frustrated-graduates-flee-abroad-as-job-markets-fail-them
Over the past two decades, an educational revolution swept through much of the developing world. ...
https://knews.kathimerini.com.cy/en/news/ecb-cautiously-prepares-for-further-rate-reductions
The intention of the central bankers on the European Central Bank’s (ECB) Governing Council to proceed with another interest rate cut next week, as inflation data proves favorable, is indirectly but clearly reflected in the minutes of their last meeting, released today....
https://knews.kathimerini.com.cy/en/news/uk-youth-joblessness-jumps-25-since-2022
A growing number of young people in the United Kingdom......
https://knews.kathimerini.com.cy/en/news/ecb-to-review-akel-s-proposed-bank-tax-amid-financial-concerns
The European Central Bank (ECB) is set to evaluate a proposed "windfall tax" on banks, commonly associated with the leftist political party AKEL, in Cyprus. ...
https://knews.kathimerini.com.cy/en/news/climate-change-made-deadly-hurricane-helene-500-times-more-likely
As Hurricane Milton nears Florida, fueled by an unusually warm Gulf of Mexico, new research highlights how climate change is driving more intense storms....
https://knews.kathimerini.com.cy/en/news/cypriot-economy-shows-resilience-growth-outpaces-eu-average
The Governor of the Central Bank of Cyprus, Christodoulos Patsalides, has called on banks to consider the social dimension of their pricing policies......
https://knews.kathimerini.com.cy/en/news/health-minister-highlights-breast-cancer-screening-upgrades
President Nikos Christodoulides announced the addition of three new cancer screening programs for both men and women during his address at the 20th annual "Pink Silhouette Walk" organized by Europa Donna Cyprus, in Nicosia, on Saturday, in a bid to raise awareness on breast cancer.
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https://knews.kathimerini.com.cy/en/news/limassol-office-costs-outpace-london-and-amsterdam
Office rental prices in Cyprus, particularly in Limassol, have exceeded those in cities like London and Amsterdam, according to major tech companies operating on the island....
https://knews.kathimerini.com.cy/en/news/new-subsidy-scheme-aims-to-lighten-home-loan-interest-rates
A new Interest Rate Subsidy Scheme for home loans is on the horizon, promising to ease the financial burden for many homebuyers....
https://knews.kathimerini.com.cy/en/news/eu-takes-cyprus-to-court-over-tax-law-delays
The European Commission has referred Cyprus, along with Spain, Poland, and Portugal, to the European Court of Justice for failing to implement the 2022 directive on a global minimum level of taxation for multinational corporations and large companies (Pillar 2 directive)....
https://knews.kathimerini.com.cy/en/news/inflation-slows-to-0-7-in-september-due-to-falling-oil-prices
Inflation hit a three-year low due to the fall in oil prices in September 2024, rising at a rate of 0.7%, according to data released by the Statistical Service on Thursday. The Consumer Price Index (CPI) in September 2024 increased by 0.38 units to 118.48 units compared to 118.10 units in August 2024....
https://knews.kathimerini.com.cy/en/news/cyprus-central-bank-raises-2024-gdp-growth-forecast-to-3-5
The Central Bank of Cyprus (CBC) has revised GDP growth rate up by 0.5 percentage points for 2024, to 3.5%, compared to its forecasts last June, stressing that there does not seem to be any significant negative impact on investments from the conflict in the Middle East.
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https://knews.kathimerini.com.cy/en/news/kedipes-extends-business-plan-to-2030-for-full-repayment-of-state-aid
The Cyprus Asset Management Company (KEDIPES) has extended its business plan by three years, pushing its timeline to 2030, with the goal of fully repaying the €3.54 billion in state aid received in 2018....
https://knews.kathimerini.com.cy/en/news/cyprus-banks-hike-mortgage-rates-as-new-loans-drop-by-a-third-in-august
Banks in Cyprus raised the interest rates on home loans in August, while reducing the interest rates offered on household deposits, according to data released by the Central Bank of Cyprus on Wednesday....
https://knews.kathimerini.com.cy/en/news/switzerland-approves-border-change-italy-yet-to-finalize
Switzerland and Italy have redrawn part of their Alpine border due to the melting of glaciers, a result of climate change....
https://knews.kathimerini.com.cy/en/news/freedom24-reaches-300-000-customers-milestone
We are thrilled to announce that the number of users on the innovative Freedom24 trading platform has surpassed 300,000. This significant achievement underscores our platform's technological superiority and the growing trust and confidence of our customers....
https://knews.kathimerini.com.cy/en/news/electricity-subsidies-and-zero-vat-on-essentials-to-end-on-october-1st
The Ministry of Finance announced today that starting October 1, 2024, it will stop the staggered electricity subsidy and the zero VAT rate on basic goods. These measures were designed to help households deal with rising costs of living....
https://knews.kathimerini.com.cy/en/news/cyprus-banks-have-€28-7-billion-in-cash-and-liquidity
The amount of liquidity in Cyprus's banking system rose to €28.7 billion in August 2024, according to the Central Bank of Cyprus (CBC). This increase was fueled by a growth in deposits alongside a decline in loans....
