Cyprus inflation at 13-year high

Cypriot consumers have seen their purchasing power reduce by more than 5% compared to a year ago as inflation hit a 13-year record high in January. If this wasn’t bad enough, consumers

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Nicosia backs interest rate increase

Finance Minister Constantinos Petrides confirmed that European monetary bodies consider resorting to interest rate hikes to deal with high inflation. Addressing a conference on the future of Europe organised by the Glafcos

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Banks to close more branches this year

The pandemic has accelerated banks’ plans to downsize by closing more branches and merging others while making the most of technological advancements. News site Stockwatch quoted Hellenic Bank sources saying the group

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Soaring building costs shackle recovery

Cyprus real estate and construction sectors are stressed from skyrocketing prices of building materials, making it harder to recover from the pandemic and scrapping of the ‘golden passports’ scheme. According to the

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National minimum wage above €924

Cyprus will introduce a national minimum wage next year, as social partners are set to agree on the monthly income for workers that could be closer to €1,000 a month. According to

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