https://knews.kathimerini.com.cy/en/business/eurobank-cyprus-reports-soaring-profits-amid-rising-interest-rates
Eurobank Cyprus posted soaring profitability after tax for the first half of 2023 with net profits approaching the profitability of full year 2022, due to rising interest rates and the high remuneration of its liquidity held at the ECB....
https://knews.kathimerini.com.cy/en/news/revolutionary-cancer-drug-kills-all-solid-tumors-leaves-healthy-cells-intact
Scientists have developed a holy grail cancer drug that kills all solid cancer tumors while leaving other cells unharmed....
https://knews.kathimerini.com.cy/en/business/southern-europe-shines-as-affordable-summer-haven
In an analysis by Allianz Research, holidays in southern European countries retain their cost advantage over other "competitive" summer destinations worldwide, despite rising expenses. ...
https://knews.kathimerini.com.cy/en/news/prices-of-homes-and-apartments-up-7-7-annually
The rise recorded in the housing market in Cyprus during the first quarter of 2023 was significant, as prices continued to increase, especially in apartments, mainly due to higher demand....
https://knews.kathimerini.com.cy/en/news/italy-ends-social-income-for-its-poorest-citizens
The government of Prime Minister Georgia Meloni has decided to halt the granting of ''social income'' to unemployed and low-income citizens in Italy, starting August 1....
https://knews.kathimerini.com.cy/en/news/europe-dominates-7-10-searched-summer-getaways
The European destinations continue to have the highest travel interest this summer, while Asia Pacific has experienced a surge in popularity, a recent research by Skift has revealed, showing the ten most searched destinations for travel in the summer of 2023 is led by Bangkok, Thailand....
https://knews.kathimerini.com.cy/en/news/ecb-dilemma-with-core-inflation-at-5-5
The European Central Bank (ECB) is almost certain to raise interest rates by 25 basis points in its meeting tomorrow, though what happens next is unclear....
https://knews.kathimerini.com.cy/en/news/uber-driver-saves-over-$1-000-monthly-with-tesla
Wesley Johnson, 64, uses the income he earns as a San Francisco Uber driver to offer some financial support to his four children and seven grandchildren.
...
https://knews.kathimerini.com.cy/en/news/where-cyprus-stands-in-eu-minimum-wage
The minimum wage in Cyprus is slightly lower than 1,000 euro per month since the country became the 22nd out of 27 EU member states to have instituted a national minimum wage on January 1st, 2023, according to data released by Eurostat, the statistical service of the EU, about the situation as it stood on July 1st....
https://knews.kathimerini.com.cy/en/news/greece-s-wildfire-crisis-severity-and-root-cause
Roaring fires have ripped through Greece, belching thick clouds of choking smoke and forcing tens of thousands of people to flee....
https://knews.kathimerini.com.cy/en/news/global-economy-faces-$590-trillion-storm
A $590 trillion storm threatens the global economy as rising interest rates make more corporate debts problematic. ...
https://knews.kathimerini.com.cy/en/business/npl-crisis-highlights-tug-of-war-between-borrowers-and-legislation
The concealment, or "camouflage," of non-performing loans (NPLs) in commercial banks before 2013 and their subsequent explosion have been, and may continue to be, the most significant challenge for the Cypriot economy. ...
https://knews.kathimerini.com.cy/en/business/fitch
Fitch Ratings released a new report on Monday stating that the credit profiles of Greek and Cypriot banks have significantly improved over the past year due to de-risking and restructuring....
https://knews.kathimerini.com.cy/en/news/relief-for-vulnerable-households-with-non-performing-loans
The ''Rent vs Instalment Scheme'' was approved by the Council of Ministers today, as announced by Government Spokesperson Konstantinos Letymbiotis following the conclusion of the Council. The European Commission's Directorate General for Competition also granted approval on July 6....
https://knews.kathimerini.com.cy/en/news/double-the-number-of-tourist-transfers-in-the-occupied-territories
The arrival of 11 tourists in Cyprus, through the country's legal airports, and then a number of them arriving in the occupied areas, is not a daily phenomenon....
https://knews.kathimerini.com.cy/en/news/loan-demand-in-cyprus-falls-interest-rates-rise
The Cypriot banking institutions are holding a small basket for demand in new loans....
https://knews.kathimerini.com.cy/en/news/cyprus-among-countries-with-lowest-food-deprivation-rates
Out of people that were at risk of poverty in Cyprus in 2022, 5.6% were unable to afford a meal containing meat, fish, or a vegetarian equivalent every second day (19.7% in the EU), which was an increase compared to the last year, according to data released by Eurostat, the statistical service of the EU....
https://knews.kathimerini.com.cy/en/business/inflation-drops-but-food-prices-soar
According to Marios Droussiotis, the president of the Cyprus Consumers Association, inflation is decreasing, but food prices remain excessively high. In an interview with K, he explained that although the overall inflation rate in Cyprus is 1.9%, the prices of food items have increased by 9.8%....
https://knews.kathimerini.com.cy/en/news/double-impact-on-gas-station-owners
Citizens are in turmoil following the termination of reduced special consumption tax rates on transportation and heating fuels, which resulted in increases of 8.32 cents in gasoline and diesel, and 6.83 cents in heating fuels.
...
https://knews.kathimerini.com.cy/en/news/urgent-call-to-liberalize-electricity-market
Mr. Neophytou attended the Annual General Assembly of the Electricity Market Association (EMA) on Thursday, June 29th, and delivered a greeting. ...
https://knews.kathimerini.com.cy/en/news/european-stocks-rally-on-hope-of-interest-rate-peak
Eurozone inflation fell more than expected to 5.5 percent in June, its lowest rate since the start of last year, but a slight rebound in core consumer price growth tempered any relief for policymakers....
https://knews.kathimerini.com.cy/en/news/cyprus-struggles-to-reduce-landfill-waste-falling-behind-targets
Cyprus is facing significant challenges in meeting its municipal waste management and recycling targets, prompting concerns from the European Commission, according to a report on Philenews....
https://knews.kathimerini.com.cy/en/news/interest-rate-increases-boost-cypriot-banks-2022-profits-to-€177-million
Bank of Cyprus and Hellenic Bank generated a combined profit of €164.7 Million in Q1 2023, Driven by interest rate increases....
https://knews.kathimerini.com.cy/en/business/€10-banknote-most-counterfeited-bill-in-cyprus
In a recent annual report, the Central Bank of Cyprus shed light on the prevalence of counterfeit bills and coins circulating in the country. The report, according to an article on Philenews, highlighted the €10 banknote as the most counterfeited bill, making up 40.8 percent of the total counterfeit pieces....
https://knews.kathimerini.com.cy/en/news/cyprus-s-organic-farming-flourishes-eurostat-data-reveals
The area used for organic agricultural production has increased in all member states of the EU, including Cyprus, between 2012 and 2021, according to data published by Eurostat, the statistical service of the European Union....
https://knews.kathimerini.com.cy/en/news/bank-of-england-raises-interest-rates-to-5
The Bank of England has raised interest rates by a half point to 5% as part of its efforts to combat high inflation and rising mortgage costs. ...
https://knews.kathimerini.com.cy/en/news/cyprus-banks-to-double-net-interest-income-in-q1-2023
Net Interest Income (NII) for the Cypriot banking sector nearly doubled in the first quarter of 2023, driven by the ECB’s rising interest rates in a bid to contain inflation....
https://knews.kathimerini.com.cy/en/news/health-ministry-increases-ivf-subsidy-to-boost-fertility-rates
In an effort to combat under-fertility and bolster population growth, the Council of Ministers has approved a proposal to revise the subsidy scheme for infertility treatment in Cyprus. ...
https://knews.kathimerini.com.cy/en/business/nicosia-attracts-millions-in-investment-opportunities
A new investment exceeding 60 million euros is currently in the study phase, focusing on the development of a strategically positioned plot in Nicosia. ...
https://knews.kathimerini.com.cy/en/news/cyprus-economy-thrives-finmin-foresees-robust-growth-and-fiscal-stability
During the 2023 Annual General Meeting of the Cyprus Bankers Association, the Minister of Finance, Mr. Makis Keravnos, discussed the current state and future prospects of the Cyprus economy, particularly focusing on the banking sector. ...
