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91. Cyprus labor costs surge 5.4%

In the 4th quarter of 2023, the hourly labour costs (total cost) increased by 5.4%, compared with the same quarter of the previous year, according to provisional data, published by the Statistical Service on Tuesday....

92. ECB considers rate cut despite falling inflation

The European Central Bank is set to keep interest rates at record highs on Thursday and take baby steps towards cutting them in the coming months as inflation continues to fall despite stubbornly high underlying price pressures....

93. President Christodoulides' candid year-one address

In a televised address marking the completion of his first year in office, President Nikos Christodoulides highlighted the achievements and priorities of his administration. Emphasizing transparency and accountability, the President outlined the following key areas of focus:...

94. Cyprus plays key role in EU's operation ASPIDES

In response to increased threats from the Houthi terrorist group, the European Union has approved the initiation of Operation ASPIDES, aiming to bolster security and freedom for European shipping in the Red Sea. ...

95. Who earns what? Insights into top government salaries in Cyprus

Newly released data from the Treasury of the Republic of Cyprus reveals that the highest-paid government officials in the country include the Attorney General,...

96. US Embassy Nicosia hosts exhibit of Ukrainian women amid Russian aggression

On the somber occasion of the second anniversary of Russia’s brutal re-invasion of Ukraine, U.S. Embassy Nicosia, in collaboration with Sunseed Art and Resilient Ukraine, is the proud sponsor of an art exhibit that depicts the faces, roles, stories, and remarkable resilience of Ukrainian women....

97. Biden praises job growth, declares US economy 'strongest in the world'

President Joe Biden lauded the robust jobs report released on Friday, touting it as evidence of the United States possessing the world's strongest economy....

98. Government raises minimum wage to €1000, boosting income for 25,000 workers

In a move aimed at bolstering the income of low-wage earners, the Ministry of Labour and Social Insurance has announced a significant rise in the National Minimum Wage, effective this January....

99. Will the far-right push Germany towards a Dexit?

In an exclusive interview with the Financial Times, Alice Weidel, leader of Germany's far-right Alternative für Deutschland (AfD), expressed support for a ''Dexit'' referendum, citing the UK's Brexit as a model for Germany. ...

100. Can Cyprus withstand yet another crisis?

The recent Houthi attacks on commercial vessels navigating the Red Sea have triggered another disturbance in the intricate web of the global supply chain...

101. Central Bank chief cautions on early rate cuts amid global tensions

Central Bank Governor and European Central Bank (ECB) member Constantinos Herodotou stated that discussions regarding interest rate reductions are premature, given ongoing geopolitical conflicts and potential disruptions in the supply chain arising from tensions in the Red Sea....

102. Forty percent of global jobs face disruption because of AI

Artificial intelligence (AI) is poised to reshape the global job market, potentially affecting 40% of jobs worldwide, according to the head of the International Monetary Fund (IMF), Kristalina Georgieva....

103. Dr. Anastasatos forecasts bright future for Cyprus economy

Eurobank group's chief economist, Dr Tasos Anastasatos, expresses optimism about the Cyprus economy, emphasizing that the decision to expand the group's banking presence in Cyprus is linked to these positive economic prospects....

104. Christodoulides' strong message: Ignore sirens, focus on governance

The swearing-in and assumption of duties of the new ministers and officials of the government took place today (10/01), at the Presidential Palace....

105. Finance Ministry undergoes administration overhaul

106. President announces imminent cabinet reshuffle within 18 months

A Cabinet reshuffle will take place before the completion of 18 months of governance, President Nikos Christodoulides said in an interview on Sunday with the newspaper "Phileleftheros", noting that decisions will be taken on the basis of his own assessment and the messages he receives from the society....

107. As 2023 ends, banks and unions lock horns on pay structures

The banks and bank employees' unions are at odds over labor issues and the signing of new collective agreements. As we approach the end of 2023, no significant progress has been made in renewing collective agreements during the outgoing year....

108. 2024 budget gets green light – Inside scoop on state wage proposals

The 2024 budget was passed into law relatively comfortably, with a total of 37 MPs voting for it, while 19 were opposed. ...

109. The big decision: Minister's plan for wage boost

In a recent Labour Advisory Body session, Minister Yiannis Panayiotou remained tight-lipped about the upcoming announcement on the national minimum wage....

110. CBC warns of non-performing loan surge amid economic challenges

The Central Bank of Cyprus (CBC) issued a warning on Monday, cautioning about the potential influx of non-performing loans (NPLs) driven by high-interest rates and inflation, which are impacting households' disposable income and businesses' profitability....

111. The climb to success in the public sector pay scale

The Ministry of Finance has officially disclosed the main provisions of the agreement reached with trade unions PASYDY and FCC, outlining significant salary advancements for public and broader public sector employees, including those within Local Government Authorities. ...

112. State employees brace for 25-30M euro salary squeeze

The agreement signed with unions PASYDYS and SEK is set to bring an annual cost of 25-30 million euros, impacting state employees and those in the wider public sector....

113. Government employment hits record high

In ongoing discussions about new hires and the 2024 budget in Parliament, the focus is on the remarkable increase in government employment, surpassing levels from 2012....

114. Employers positive on minimum wage adjustment

Employers express positivity towards a potential partial adjustment of the minimum wage in discussions led by OEB's General Director, Michalis Antoniou....

115. Cracking down on exploitation: Farm raid exposes labor abuses

In a collaborative effort, the Anti-Trafficking Bureau, YAM, and Ministry of Labour Inspection Department executed a court-authorized inspection at a 40-year-old man's animal farm in Nicosia yesterday....

116. ''The path to fighting inflation is difficult''

In an insightful dialogue about the economic landscape, Joachim Nagel, a prominent figure in the financial realm and a member of the ECB Governing Council, shares his perspectives on inflation, interest rates, and the challenges facing the European economy....

117. Low paid government workers demand higher pay

The ''Equality'' guild staged a rally outside the Presidential Palace on Monday, followed by a protest march to the Ministry of Finance, highlighting concerns over low-paid public sector workers....

118. No plans to cut interest rates amid inflation worries

The perspective advocated by many young individuals, endorsing a declaration of victory over inflation, is articulated by Dr. Jensen, the president of the German Bundesbank....

119. House plenary votes on teleworking bill, what's at stake?

In a decisive move, the House plenary convened this afternoon to cast their votes on a groundbreaking teleworking bill, aiming to establish a robust framework for regulating working conditions in the evolving landscape of remote employment....

120. France 24: 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. ...