https://knews.kathimerini.com.cy/en/news/fiscal-council-cautions-on-2024-economic-risks-despite-optimism
Recently, the Cyprus Fiscal Council took a close look at how our economy is doing. They gave us some important info based on their study....
https://knews.kathimerini.com.cy/en/news/ministry-s-robust-€65-2m-budget-signals-ambitious-2024-plans
At 65.2 million euros, the proposed budget of the Ministry of Tourism for 2024 surpasses previous years, accounting for initial budgets and excluding additional expenditures....
https://knews.kathimerini.com.cy/en/news/cyprus-robust-11-8-surge-in-household-spending-defies-eu-norms
In 2022, Cyprus experienced a notable 11.8% increase in household final consumption expenditure compared to the previous year, surpassing the EU's overall growth of 4.7%, as reported by Eurostat. ...
https://knews.kathimerini.com.cy/en/news/shakira-s-€14-5m-showdown-ends-with-a-€7m-encore
Pop star Shakira has gracefully sidestepped a €14.5 million tax trial in Spain, sealing a last-minute deal with authorities just as proceedings were set to commence....
https://knews.kathimerini.com.cy/en/news/argentina-elects-maverick-economist-javier-milei-as-president
Argentina has chosen controversial libertarian Javier Milei as its president for the next four years. ...
https://knews.kathimerini.com.cy/en/news/choosing-between-heating-and-eating
A recently released report from the French charity Secours Catholique underscores the alarming rise in poverty numbers, with a record one million people seeking assistance in 2022, up from 780,000 the previous year. ...
https://knews.kathimerini.com.cy/en/business/master-the-art-of-black-friday-shopping
As the Black Friday tradition, originating in the 1960s in the United States, ushers in the Christmas shopping season, Cypriots face unique economic challenges....
https://knews.kathimerini.com.cy/en/news/will-black-friday-s-shopping-basket-be-lighter-this-year
The November market outlook differs this year....
https://knews.kathimerini.com.cy/en/news/photovoltaics-for-all-scheme-launches-€30m-fund
The public will be able to start submitting applications on January 2024 for a scheme to install photovoltaics, dubbed "Photovoltaics for All", with a budget of €30 million, which is expected to correspond to 6,000 applications....
https://knews.kathimerini.com.cy/en/business/ministry-secures-€245-million-boost-for-business-growth-in-2027
A total of €245 million has been secured by the Ministry of Energy, Commerce and Industry for the new programming period up to 2027, which will be made available to businesses through targeted grant plans with an emphasis on absorbing and utilising as many resources as possible from European Funds, including the Recovery and Resilience Fund, Energy Minister George Papanastasiou said on Friday, speaking at the General Electoral Assembly of the Paphos Chamber of Commerce and Industry....
https://knews.kathimerini.com.cy/en/news/biden-s-cabinet-seeks-$105-billion-aid-for-israel-and-ukraine
Defense Secretary Lloyd Austin and Secretary of State Antony Blinken will make the case Tuesday that the United States should immediately send aid to Israel and Ukraine, testifying at a Senate hearing as the administration’s massive $105 billion emergency aid request for conflicts in those countries and others has already hit roadblocks in the divided Congress.
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https://knews.kathimerini.com.cy/en/news/minister-vows-smart-lights-rule-over-timers
In a recent presentation of the Ministry of Transport's 2024 budget to the Finance Committee, Minister of Transport, Alexis Vafeadis, categorically stated that there will be no timers installed at traffic lights until at least March or April 2024. ...
https://knews.kathimerini.com.cy/en/news/piki-shares-the-government-s-tech-powered-6-year-plan
The government is ramping up the execution of a series of projects, bolstering resources and expertise in collaboration with the Deputy Ministry of Research, Innovation, and Digital Policy, according to Irene Piki, Deputy Minister to the president....
https://knews.kathimerini.com.cy/en/news/cyprus-secures-third-place-in-the-economist-economic-pentathlon
With three gold and two silver medals, Cyprus ranks third in The Economist’s economic pentathlon which has calculated how the 27 EU member states perform on the five major challenges facing them, namely demand/inflation, debt, demography, decarbonisation and decoupling from the world’s autocracies....
https://knews.kathimerini.com.cy/en/news/poles-and-greeks-europe-s-thriftiest-tourists
Poles are the most tight-fisted tourists in Europe, spending around €185 per person in other countries while visiting for tourism purposes, totalling up to €7.2 billion in 2022....
https://knews.kathimerini.com.cy/en/news/targeted-fuel-and-heating-reductions-in-government-s-considerations
The Cyprus Electricity Authority has announced a 3% increase in electricity prices for upcoming bills. ...
https://knews.kathimerini.com.cy/en/news/tourists-spend-over-€1-5-billion-setting-new-high
The most recent data from the Statistical Service regarding tourism revenues are confirming expectations, as expressed by Deputy Minister of Tourism Kostas Koumis in a recent interview with "K". It appears that this year could potentially set a new record for tourism revenues....
https://knews.kathimerini.com.cy/en/news/26-9-increase-in-tourism-revenue-compared-to-last-year
The year 2023 is poised to go down in history with remarkable revenue figures, as highlighted in a recent interview with the Deputy Minister and substantiated by the latest tourism revenue data from the Statistical Office....
https://knews.kathimerini.com.cy/en/news/school-escorts-back-on-track-to-aid-hundreds-of-disabled-students
The perennial issue of meeting the needs of students requiring school assistants has resurfaced as the new school year begins. ...
https://knews.kathimerini.com.cy/en/news/notorious-italian-mafia-boss-succumbs-to-cancer-after-30-years-on-the-run
Italian Mafia boss Matteo Messina Denaro, who was convicted of multiple murders and was arrested in January after spending 30 years on the run, has died of cancer, officials said on Monday....
https://knews.kathimerini.com.cy/en/business/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....
https://knews.kathimerini.com.cy/en/news/are-cypriots-stuck-in-traffic-by-choice
Traffic congestion in Cyprus, especially during school hours and extracurricular activities, is a recurring issue that not only makes headlines but also sparks extensive public discussions about potential solutions, which have proven ineffective in recent years....
https://knews.kathimerini.com.cy/en/news/china-s-economic-slowdown-threatens-global-stability
China is unlikely to surpass the US as the world's largest economy as initially predicted for the early 2030s, primarily due to a growing lack of confidence in the Chinese economy, according to Bloomberg Economics analysts....
https://knews.kathimerini.com.cy/en/news/over-220-000-victims-trafficked-for-southeast-asia-s-online-fraud-schemes
A new UN report estimates that hundreds of thousands of people from around the world have been trafficked to Southeast Asia to run online scams....
https://knews.kathimerini.com.cy/en/news/tourism-revenue-soars-to-just-over-€1-billion-in-first-half-of-2023
Tourism revenue in Cyprus has seen a remarkable surge in the first half of this year. The latest data from the Statistical Service of Cyprus (Cystat) reveals that revenue from tourism amounted to a staggering €1.09 billion. ...
https://knews.kathimerini.com.cy/en/news/average-student-spending-at-€250-as-back-to-school-shopping-begins
A few days before schools reopen (September 7 for secondary and high schools, and September 11 for primary schools), chaos is ensuing in bookstores, stationery shops, and stores selling school attire and sports shoes.
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https://knews.kathimerini.com.cy/en/news/china-s-$10-trillion-hidden-debt
For some time now, markets have been buffeted almost on a daily basis by gloomy economic news filtering out of China....
https://knews.kathimerini.com.cy/en/news/cyprus-faces-deceleration-amid-inflation-and-rising-rates
Cyprus' economy experienced a slowdown in the second quarter of 2023, prompting inquiries about the situation. According to the preliminary estimate provided by the Statistical Service, ...
https://knews.kathimerini.com.cy/en/news/cyprus-tourism-up-32-upbeat-outlook
Tourism in Cyprus has recorded a 32% increase this year compared to last year, according to Deputy Minister of Tourism Kostas Koumis....
https://knews.kathimerini.com.cy/en/news/tourism-sets-record-revenue-with-fewer-arrivals
The latest data on tourism revenues for the month of May has brought encouraging news for the tourism sector, signaling positive effects on the Cypriot economy....
