The government has decided to continue subsidising fuel prices at the pumps by extending a reduction on consumption tax for another two months. The Finance Ministry announced on Wednesday that the government will extend the reduction until the end of June but will be halving it. As fuel prices reached their lowest ebb for a
More
The Greek Easter table will be 25% more expensive than last year, as the cost has been pushed by increases in lamb, beef, and eggs, according to the Commerce Ministry’s Consumer Protection Service. It said the price of lamb has increased by an average of 25% compared to Easter 2022. Lamb pieces are sold at
More
US CPI data is likely to show on Wednesday that inflation has peaked and the Federal Reserve must stop interest rate hikes from next month, warned the CEO of a leading independent financial advisory and fintech. Financial markets await the latest US inflation report for March due out at 8.30 am Eastern Time (14:30 CET).
More
The Met Office issued a yellow warning on Wednesday for heavy rain as a low-pressure system moves across the island, with the last snow falling on higher ground. A warning for heavy thunderstorms came into effect from noon on Wednesday until late evening (6 pm). Yellow warnings are issued for conditions that do not pose
More
Most of the state’s online services returned Wednesday after drying out following a water leak which flooded the basement of the Finance Ministry, knocking out e-governance servers and websites. Talking to state radio CyBC on Wednesday, government spokesperson Konstantinos Letymbiotis said that 80% of servers are now back online, with webpages gradually returning. He said
More
By Edward Moya US stocks are mixed heading into a pivotal inflation report that should support one more rate hike by the Fed. Tuesday’s headlines didn’t tell Wall Street anything it didn’t already know: the IMF trimmed its growth outlook, Fed’s Williams supported one more hike, and CarMax earnings showed consumers are leaning towards older
More
A total of 126 applicants for international protection, originating from Somalia, Afghanistan, Congo, Nigeria and Syria, departed on a chartered flight from Cyprus to Germany to be resettled. The total number of relocated migrants has reached 346, including those sent to Germany. According to the Ministry of Interior, this is one of a series of transportations
More
The International Monetary Fund (IMF) maintained its projection for Cyprus’ economic growth in 2023 at a slower 2.5%, while real GDP growth is expected to pick up the pace next year. In its April 2023 World Economic Outlook (WEO), the IMF said that Cyprus’ real GDP would expand by 2.5% (as projected in October), with
More
In February, the monthly seasonally adjusted volume of retail trade increased by 1.6% in Cyprus and 8.3% annually, the highest increase among EU states, according to Eurostat. During the same month, the seasonally adjusted volume of retail trade decreased by 0.8% in the euro area and by 0.9% in the EU, compared with January 2023, and
More
By Han Tan, Chief Market Analyst at Exinity Group Markets are set to use the incoming US inflation print to predict the likelihood of a Fed rate hike in May, which investors are betting will likely be the last in this cycle. Fed funds futures currently point to a 71% chance of another 25-basis point
More
