Construction costs and increased demand from foreign and Cypriot buyers contributed to the acceleration in house price increases during the third quarter of 2022. According to the Central Bank, the Residential Property Price Index (RPPI) continued its upward trend in Q3 2022, increasing by 2.1% from 1.7% the previous quarter. Year-on-year, the index increased by
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The annual inflation rate in January was 7.1%, continuing the deceleration path for the third consecutive month, while the number of unemployed rose 8.6%. January’s Consumer Price Index decreased by 1.42 points to 112.01 points compared to 113.43 points in December. The annual inflation rate slowed to 7.1% from 7.9% in December. The largest changes
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By Craig Erlam Stock markets have been under pressure on Friday and the US is poised to open in the red also, with the Nasdaq hit particularly hard. This comes on the back of some disappointing earnings from heavyweight tech firms Apple, Amazon and Alphabet. Each had their own reasons for disappointing the Street, but
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Police will deploy helicopters and drones to ensure that Presidential elections run smoothly on Sunday. Police spokesperson Christos Andreou said around 2000 officers would be deployed during the day along with helicopters to ensure security. He said police officers would be present in every polling station. At the same time, motorized patrols will be conducted outside polling
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TUS Airways launches flights to four stunning Greek destinations this summer as part of the airline’s expanding network to Greece. In addition to the recently launched flights between Larnaca and Heraklion, the airline will operate new flights to Preveza, Corfu, Kefalonia and Chania, with fares starting from as little as €107 one way. Starting from
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Cyprus reported four COVID-19 deaths during the past seven days, three fewer than last week, with a significant drop in new infections and hospitalisations. Earlier this week, the Health Ministry issued a series of measures to prevent the spread of COVID-19 during Sunday’s Presidential election. It is recommended that rooms are adequately ventilated, while staff and representatives
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New credit provided by Cypriot banks reached €3.23 bln in 2022, increasing 10% year-on-year despite the uncertainty driven by the war in Ukraine, according to the Central Bank of Cyprus (CBC). Pure new loans last year exceeded 2019 (€3.2 bln), climbing (albeit slightly) to the highest level since 2015 when the CBC began recording data
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On 29 December, the Minister of Foreign Affairs of India, His Excellency Dr S.Jaishankar, was on a two-day mission to Cyprus. Bilateral relations between both countries have been traditionally very close and friendly. In fact, 2022 marked 60 years of diplomatic relations between India and Cyprus. During the visit of the Indian Foreign Affairs Minister,
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In Cyprus, spending on food and non-alcoholic beverages is 14.1% of total expenditure –close to the EU average — and 9.2% of GDP. In 2021, European Union households spent over €1035 bln (equivalent to 7.1% of the total EU GDP) on ‘Food and non-alcoholic beverages’, according to data by Eurostat. This represents a share of
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Water flowing into dams remains low compared to last year, despite the heavy rain that has fallen during the past few days. According to the Water Development Department, the water flow into dams during the last 24 hours was 381,000 cubic meters which is very low for this time of year. “The recent rainfall has
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