The government plans to extend a subsidy on electricity bills introduced by the previous administration but will discontinue a freeze on consumer fuel tax. According to Phileleftheros daily, quoting government sources, President Nikos Christodoulides will extend a subsidy on electricity bills until the end of June. The scheme was introduced in September to cover the
More
Income from tourism reached €45.6 mln in January, easily surpassing the revenue from tourists last year and 2019, which set a record for Cyprus. Based on the results of the Passenger Survey carried out by the Statistical Service, revenue from tourism was €45.6 mln in January 2023 compared to €28.2 mln in the same month
More
Discussions around AI-related stocks and ETFs were abundant and engaging at Germany’s major financial fair, Invest 2023, held in Stuttgart. “The Invest Fair is a fantastic gathering of proactive investors, innovative technology companies, and exceptional investment minds,” said Admirals’ Head of Regional Marketing, Omar Bacha. “As expected, there is keen interest in discovering new solutions
More
Spain will spearhead a new European Union initiative to break the six-year deadlock in Cyprus peace talks, Spanish Prime Minister Pedro Sanchez said Tuesday. Sanchez made the commitment after talks with Cypriot president Nikos Christodoulides during a visit to the fellow EU member state. He said Madrid “strongly supports” Cyprus reunifications based on United Nations
More
The Turkish-occupied north was left in the dark on Monday after suffering a general blackout, with Turkish Cypriot authorities screaming foul play, blaming workers at the electricity authority. As reported by news outlet YeniDuzen, many areas in the north still needed to see power restored by noon on Tuesday. The north could not request electricity
More
By Lukman Otunuga, Senior Research Analyst at FXTM European shares were painted green on Tuesday even as oil prices extended gains following the unexpected production cuts from OPEC+ on Sunday. However, a sense of caution lingered in the air with US equity futures pointing to a mixed open amid the prospects of higher oil prices
More
Cyprus police are searching for three Russian-speaking suspects who made off with €180,000 5k diamond from a swanky jewellery shop in Limassol’s tourist area of Yermasoyia. Talking to state radio CyBC, Limassol police spokesperson Marinos Vassiliou said the owner of the Yermasoyia shop reported that at around 4 pm on Monday, two men and a
More
By Craig Erlam Stock markets were moving cautiously higher again on Tuesday as anxiety continues to subside in the aftermath of last month’s mini-banking crisis. RBA pauses The RBA paused its tightening cycle on Tuesday, citing various concerns including a substantial slowdown in household spending, the lag from recent rate hikes, and the stress in
More
During Q4 2022, guests spent around 97 million nights in short-term rental accommodation in the EU, booked via Airbnb, Booking.com, Expedia Group or TripAdvisor, according to Eurostat. This is up +25% compared with the same period in 2021. With this value, platform tourism exceeded the levels (+10%) recorded in the pre-pandemic Q4 2019, when platforms
More
The Finance Ministry seeks a compromise with the House on the thorny issue of reduced VAT for first homes by increasing the property’s value rather than tampering with size criteria. Authorities have picked up the issue once more after the grace period given by the European Commission expired, along with a warning against Cyprus over
More
