News
Fuel, food, and housing costs drive Cyprus inflation higher as working-class families bear the brunt of rising prices
1+ hour, 25+ min ago (434+ words) Day in, day out, the anxiety for salaried workers remains exactly the same: how to make ends meet until the end of the month. Every time a new crisis emerges and inflation rises, this dread grows even heavier. An increase…...
Cyprus faces losing millions in Recovery Fund grants as MPs challenge rushed business development bank law
1+ hour, 35+ min ago (225+ words) Cyprus faces losing between "50 million and "69 million in European Recovery Fund grants unless parliament approves a rushed bill to establish the Cyprus Business Development Organisation (KOAE) next week, officials said. The new state entity aims to improve access to funding…...
Duration of Iran war will determine impact on Cypriot economy, officials say
3+ mon, 3+ week ago (343+ words) Economists and state officials in Cyprus are warning that the duration of the war between US-led forces and Iran will be the decisive factor in the island's economic stability, as energy prices threaten to reach historic highs. While the domestic…...
Cyprus and Sweden agree new protocol for double taxation
19+ hour, 1+ min ago (217+ words) Cyprus and Sweden both signed a new tax protocol on the third of July in Nicosia, which is amending the Double Taxation Convention on income taxes. Makis Keravnos, the Minister of Finance, signed the new protocol on behalf of the…...
Why isn't Cyprus's cost of living coming down?
21+ hour, 52+ min ago (390+ words) Fuel, food and housing costs are keeping inflation high in Cyprus and maintaining pressure on the cost of living, despite price falls in some individual categories. Cyprus's consumer price index for June, released yesterday by the Statistical Service, shows inflation…...
Economic growth halted due to geopolitical developments
22+ hour, 13+ min ago (358+ words) 2026 has been characterised by a slowdown in growth, based on new data highlighting the economic outlook for the years ahead, due to international geopolitical developments, particularly the happenings in the Middle East. Estimates made by The Central Bank in the…...
Cyprus inflation hits 4% in June, among EU's highest
2+ day, 40+ min ago (351+ words) Cyprus recorded one of the highest monthly inflation rates in the European Union in June, according to preliminary data released yesterday by Eurostat, despite a memorandum on ending hostilities in the Middle East having been in place for several days....
IMF warns Cyprus of pension spending surge as reform talks advance
4+ day, 21+ hour ago (400+ words) The IMF has warned that ageing-related spending pressures will push Cyprus's pension and health costs well above 4% of GDP by 2050, coinciding with the government's preparation of a second phase of pension reform that will shape the system for decades to…...
Cyprus signs cooperation deal with OLAF for access to company registers and beneficial ownership data
6+ day, 22+ hour ago (321+ words) The Department of Registrar of Companies and Intellectual Property has signed an administrative cooperation agreement with the European Anti-Fraud Office (OLAF), in a move officials say will strengthen the fight against fraud and corruption. The agreement was signed during an…...
Even Trump got angry over "rockets and feathers
1+ week, 1+ day ago (336+ words) Whenever Cypriot MPs complain that petrol prices spike at the pumps before a rise in the international barrel price can even register, referring to the "rockets and feathers" phenomenon, many in Cyprus " especially government officials or ruling party insiders " dismiss…...