Supermarkets and retailers have signalled a new wave of price hikes on commodities, especially foodstuffs, as goods importers are considering adjusting their invoices quoting increased costs. Marios Antoniou, general secretary of the Cyprus Retailers Association, told the Financial Mirror that retailers and importers will not be able to fend off price hikes by shouldering a
More
By Craig Erlam It’s been another lively start to the week following a busy weekend in which Swiss authorities had been working tirelessly to complete the sale of Credit Suisse and avoid further fallout on the open. So far, it looks as though those efforts have not been in vain, along with those of a
More
Cyprus police are still treating the death of 28-year-old Lesya Bykova from Ukraine, found dead near Aphrodite’s Rock in Paphos, as murder, and were expected to seek a renewal of the remand order for her 31-year-old partner. The police were set to request the remand order renewal, despite a second autopsy shedding doubt over state
More
The banking crisis that spooked investors and sent shockwaves around the world could ultimately be beneficial for financial markets, the CEO and founder of a leading financial advisory and fintech said on Monday after the biggest rescue in Swiss banking history. UBS agreed to buy the embattled Credit Suisse for $3.2 bln on Sunday, with the
More
No European nation has increased their concentration of brain business jobs faster than Cyprus since 2014, according to the European Centre for Entrepreneurship and Policy Reform. Brain business jobs are considered essential, as they are resilient against crises. Between 2014 and 2021, the number of jobs in brain business industries increased by 55% in Cyprus.
More
As the European Central Bank decides to push up interest rates by another 50 basis point Cypriot banks are prepping to push up interest rates on deposits, acknowledging the increase in interest rates burdens the borrowers. Just hours before ECB announced its decision to push up interest rates for the sixth time since July last
More
Cyprus is one of the most expensive countries out of a list of 39 in Europe to charge an electric vehicle, adding another con to the list of Cypriot motorists thinking of going electric in the near future. Cyprus’ path to a fully electrified transport system still faces obstacles, as it has to overcome the
More
By Jerome Schneider, Portfolio Manager at PIMCO The challenges roiling some regional banks in recent days have stressed financial markets as investors and depositors have been forced to consider the basic safety of bank accounts. As in past crises, U.S. policymakers are stepping in to provide solutions for those banks suddenly facing an unexpected wave
More
The former ruling Democratic Rally, licking its wounds having lost the presidential elections, has won a last-minute reprieve with the majority of party members electing House Speaker Annita Demetriou as their new president. With an overwhelming 69.18% of the members seeking change, Demetriou already called for unity within party ranks and a rejuvenation of the
More
Transatlantic trade disputes are moving to a new US-controlled rhythm and increasingly, the US is acting without consulting its European allies. Because of the EU’s deep and growing security dependence on the US, it means European governments have little choice… and end-up paying the cost. US Energy Secretary Jennifer Granholm made quite an admission when
More