News
Cyprus tech firms face risk from rising component costs
1+ day, 15+ hour ago (284+ words) The Cyprus Information Technology Enterprises Association (CITEA) on Friday issued a warning over sharp increases in RAM prices and other critical technology components, following a meeting with Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou. The association highlighted…...
CBC sets reference interest rate at 11. 72 per cent
1+ day, 15+ hour ago (164+ words) Cyprus Mail The Central Bank of Cyprus (CBC) on Friday announced the reference interest rate, under article 314 A of the Cyprus Criminal Code, has been set at 11. 72 per cent. The CBC stated that the rate is determined in accordance with…...
UK consumers turn gloomiest about economy since records began in 1978
3+ day, 11+ hour ago (292+ words) British consumers are gloomier about the economy than at any time since records began in 1978, according to a survey published on Wednesday that showed the Iran war and soaring oil prices are taking a heavy toll on British households. The…...
UK manufacturers report patchy ability to ramp up industrial output
4+ day, 21+ hour ago (260+ words) British manufacturers give a patchy picture of their ability to ramp up output should the government need to "mobilise key industries, a survey showed on Monday. Britain "is redoubling efforts to restore domestic industrial capacity in sectors deemed strategically critical…...
Cyprus construction material prices edge up in March
5+ day, 17+ hour ago (241+ words) Construction material prices in Cyprus continued to rise, with the price index of construction materials showing both monthly and annual increases in March, according to a report from the state statistical service (Cystat). Specifically, the statistical service reported that the…...
E-kalathi app has failed to see supermarkets drop prices
5+ day, 6+ hour ago (264+ words) Noticeable price increases in products listed on the government's e-kalathi online price comparison platform have emerged since last recorded, the Consumers Association warned on Monday, also finding limited competitive pressure across most participating supermarkets. The association processed and evaluated prices…...
Rising rents in Cyprus absorb growing share of household income
5+ day, 19+ hour ago (351+ words) Finding a home at a reasonable price in Cyprus is becoming increasingly difficult, with rents continuing to absorb a growing share of household income, especially for low-income earners. According to data presented by Philenews, an average salary for many households…...
Scientific study forms a good basis for economic policy
6+ day, 12+ hour ago (586+ words) In the EU, a significant number of existing high'level research centres focus on empirical studies of issues of public economic interest. Such centres aim to support, in a practical way, the competent bodies of the EU and national governments in…...
IMF chief says 12 or more countries seeking loans to cope with Middle East war energy shock
1+ week, 3+ day ago (755+ words) The International Monetary Fund expects at least a dozen countries to seek new loan programs to cope with surging energy prices and supply chain disruptions caused by the Middle East war, with several sub-Saharan African nations seeking help, the head…...
Banks urged to embed dry runs within broader risk management
1+ week, 3+ day ago (447+ words) The European Banking Authority (EBA) has published a report comparing how banks test the implementation of their recovery plans through so-called dry runs, highlighting significant differences in approach and effectiveness across institutions. The report comes at a time of heightened…...