The Cyprus Electricity Authority’s pricing plans are ready to be approved by the Energy Regulator, with households expected to pay 25% more on their bills. EAC spokesperson Christina Papadopoulou told CNA on Tuesday the authority does not have the exact percentage increase; however, she estimated the hike “will be around 24%”. This is cold comfort
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The European Union’s monetary authority has raised the alarm over the performance of Cypriot banks, as the island’s banking system lags behind all other eurozone states. The Single Supervisory Mechanism (SSM), in a recent report, said that Cyprus has the lowest return on equity ratio (ROE) in the eurozone, while it has the highest expense-to-income
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Cypriot women seeking to terminate a pregnancy are being turned away by doctors, claiming that abortion is illegal, despite it being fully legalised in 2018 when the law was amended. Under Cyprus law, amended in 2018, abortion is legal during the first 12 weeks of pregnancy, while in cases of rape and sexual abuse, or
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Cypriot consumers are becoming increasingly conservative in their shopping habits, chasing discounts while opting for cheaper products, say retailers. The change in consumer psychology comes amid the highest wave of inflation in the past 40 years, with inflation hitting a record 9.6% in June. Consumers are expected to continue being squeezed in the coming months,
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By Lukman Otunuga, Senior Research Analyst at FXTM Asian shares were a sea of red on Tuesday as recession fears and China’s renewed Covid-19 outbreak smothered appetite for risk. Overnight, Wall Street’s main indices took a beating as investors sprinted to safety ahead of the US inflation data and earnings season. In Europe, stocks opened
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The Hellenic American Leadership Council (HALC) and the American Jewish Committee (AJC) have sent a joint letter to US Congress urging to block the sale of F16 fighters to Turkey. Battle lines are being drawn in the US Congress for the proposed sale of F-16 fighter jets to Turkey as Greek-American lawmakers are mobilising to
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German authorities have caught Cypriot cheesemakers exporting Halloumi products that do not meet the required EU standards under its PDO (Product of Designated Origin), increasing fears Cyprus could lose its flagship export. According to media reports, German authorities have informed the EU Agri-Food Fraud Network that they confiscated a quantity of Halloumi products in the
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In a major survey among expats, Cyprus ranked at the bottom of the table due to a lack of career prospects, working conditions and pay, but did mildly better for quality of life and ease of settling on the island. The InterNations Expat Insider 2022 survey of nearly 12,000 respondents in 181 countries placed Mexico top for
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British Base Police in Akrotiri has revealed an increase in the number of people driving under the influence of alcohol and drugs leading to a rise in road traffic accidents since March. Over a three-month period until June, 51 people were arrested for driving under the influence of alcohol and drugs, or both, in the
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By Jeffrey Halley Things are looking messy, especially in Forex Land where the Euro is within a hair’s breadth of trading at parity with the US Dollar Tuesday morning. Overnight, the single currency slumped by 1.45% to 1.0040 as Euro yields edged lower and markets fell over themselves to price in a European recession. Russian
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