The Euro area is expected to see slow growth in the EA in the near term, as economic activity is affected by Russia’s invasion of Ukraine, especially through weaker confidence and higher inflation. DBRS Morningstar said in a macroeconomic update that consumer confidence fell in March to its lowest level since May 2020, likely reflecting
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Work on the Paphos-Polis highway is expected to start in July, a project that has been neglected for decades, which will help improve road safety and raise awareness about the area, helping in its tourism and economic development. Other infrastructure projects in the area will also get underway, despite the challenges of the pandemic and
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With oil and gas prices not expected to come down, Cyprus needs to rethink its entire energy plans, according to a leading industry expert. Charles Ellinas, a Senior Fellow at the Global Energy Centre, Atlantic Council, said with natural gas prices in Europe hovering at $30 MMbtu (per thousand cubic feet), while the price in
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OPINION: By Moody’s Analytics As many of us learned in Principles of Macroeconomics, the Federal Reserve had to aggressively tighten monetary policy to tame inflation in the late 1970s and early 1980s. Some have drawn parallels between today’s high inflation and that of 1970s and 1980s. This is not an apples-to-apples comparison, but one solution
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For the local population, it has been normal and acceptable over decades, if not centuries, to own a stake or part of a freehold property mainly through inheritance; thus, the parents’ share is transferred in parcels or joint ownership (if not capable of being divided) to their children or relatives. Registering real estate in part
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Cyprus is considered a crime averse country where your property and well-being are relatively safer than many other countries in Europe. Cypriots like to pride themselves that youngsters are safe from predators; there is no random kidnapping of children or the fear that they are more likely to be found dead when one goes missing.
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The European Commission and Bulgaria agreed to create the EU’s first regional task force as part of the bloc’s Energy Purchase Platform, following Gazprom cutting gas deliveries to Sofia and Warsaw. The agreement was reached after meetings between Bulgaria’s Deputy Prime Minister and European Commission representatives. The group will look at gas and electricity needs,
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Dust clouds returned to Cyprus with the concentration of particles in the air on Saturday morning almost three times above the allowed levels. With temperatures rising above 30C in recent days, the weekend is expected to be unbearable for those with respiratory issues, with government officials warning workers and vulnerable people to stay indoors. After
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With Russia halting natural gas supplies to western Europe, the ‘weaponisation’ of energy had lurked in everyone’s mind. Politicians prayed Moscow would never resort to this form of blackmail and the pipelines would remain uninterrupted. This threat has been around for almost two decades, with little done in the meantime to end Europe’s over-reliance on
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The coronavirus pandemic is not over but entering a new phase as it evolves, and society adapts to it, said government advisor on COVID-19, Dr Zoe-Dorothea Pana. “Of course, we can not predict what will happen next,” the Lecturer in Paediatrics at the European University of Cyprus told CNA. “However, due to seasonality, high immunity,
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