During the third quarter of 2023, Cyprus saw a notable reduction in loan demand, affecting both businesses and households. This…
Audit Office urges halt to “unlawful payments” for state officials
Τhe Audit Οffice has issued an appeal to the Treasury of the Republic, urging an immediate cessation of salary and…
Accelerated advancement of low-wage public servants signalled by Finance Ministry
The activation of the agreement signed on December 12 between the Ministry of Finance and the trade unions PASYDY and…
Electronics to see up to 30% price increases from February
Significant price hikes of up to 30% on electronics and other durable goods such as refrigerators, cars, and air conditioners…
Finance minister warns of inflation resurgence amidst Red Sea crisis
The Minister of Finance, Makis Keravnos, stated that there is a risk of inflation resurgence due to the tension in…
€2 billion worth of non-performing loans in October of 2023
The non-performing loans (NPLs) in the banking system remained virtually unchanged at around €2 billion in October, showing a decrease…
Tourism increases by 20% in 2023
The tourism sector in Cyprus recorded a little over a 20% increase in 2023 compared to 2022, marking the second-highest…
Red Sea crisis forces Michelin to halt output in Spain next weekend
Four factories in Spain owned by French tyre maker Michelin are planning to halt output again on the weekend of…
Red Sea attack fears disrupt global trade patterns
Japanese shipping operator Nippon Yusen 9101.T suspended sailings through the Red Sea on Tuesday after Yemen’s Houthi movement vowed to…
Elon Musk’s X receives money transmitter license in Utah
Elon Musk’s social media platform X, formerly known as Twitter, on Monday received a money-transmitter license from Utah, the 15th…