A usual working week for people aged 20-64 in Cyprus averages 39.5 hours, above the EU average of 37.5 hours, according to Eurostat data. There were significant differences in working hours among EU states regarding average working hours per usual week. The longest working weeks were recorded in Greece (41.0), Poland (40.4), Romania and Bulgaria (40.2
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Limassol property offers the highest yield for renting out an apartment, generating returns between 6.85% and 7.80%, while Larnaca has the highest growth prospect, according to a local real estate agency study. Charalambos Pitros, Managing Partner at Zyprus Property Group, MRICS, told the Financial Mirror that renting an average one-bedroom apartment in Limassol offers a
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The 36th annual conference of the International Investment Funds Association (IIFA) will take place in Cyprus for the first time on October 24-25. The conference is attended annually by representatives from the largest associations and managers of Investment Funds worldwide and is considered one of the leading international forums for the sector. IIFA has members from 40
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By Han Tan, Chief Market Analyst at Exinity Group The FOMC is widely forecasted to leave its benchmark rates unchanged on Wednesday. Federal Reserve Chair Jerome Powell is also expected to convey a hawkish hold, though such commentary unlikely to bring the US rates debate to a conclusive end. Wednesday’s policy signals will feed into
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The car continues to be the dominant means of transport in all EU countries compared with journeys by train, bus and coach, plane or boat, while Cyprus is slightly below the European average, according to Eurostat. In 2021, transport by car in Cyprus accounted for 76.3% of passenger-kilometres (79.7% in the EU), compared with 12.6%
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Defence Minister Michalis Giorgallas discussed ways to strengthen and deepen the bilateral defence cooperation between Cyprus and Jordan during his official visit to Amman. Giorgallas’ visit was part of regular bilateral consultations on defence and security issues with states in the region and followed President Nikos Christodoulides’ visit to Amman in August. During the meeting
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The Cyprus Rally celebrates its 50th staging this year, with the event to take place over three days from October 6-8. This year’s Cyprus Rally will serve as the 5th round of the FIA Middle East Rally Championship (MERC) and as the 3rd and 4th rounds of the Cyprus Rally Championship, with each day of
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Crushing economic growth, and not stagflation, is “the real danger” and should now be the focus of the European Central Bank and the Bank of England, warned the CEO of a leading independent financial advisory and fintech. The ECB raised interest rates to a record high last week, while the BoE is expected to raise
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Harmonised inflation in August returned to an upward trajectory of 3.1%, primarily due to increased food prices. It ended a continuous 12-month decline since inflation peaked in July 2022 to a record high of 10.6%. Despite the increase, Cyprus’ inflation is the fourth lowest in the 27-member bloc. According to the Cyprus Statistical Service, the Harmonised Consumer
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Fuel prices are set to increase by up to 10 cents per litre by the end of the month due to the reduction in global production, said the Petrol Station Owners Association. In comments to Politis daily, Christos Christodoulou, chair of the petrol station owners’ association, said that prices are expected to go up “by
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