EuroAsia cable will reduce power costs

EuroAsia Interconnector, the Israel-Cyprus-Greece electricity line with a capacity to carry more than the island needs, will significantly help reduce consumer bills and make the economy more competitive. With household bills soaring

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Southern Europe’s heatwave has hidden costs

While economic and fiscal costs remain manageable, the expected increase in the number, intensity and duration of extreme climate events in the coming years will have longer-term credit-negative effects on Europe, said

Presidential elections cost €7 mln

The cost of February’s presidential elections is estimated at €7 mln, based on the expenditures in the Interior Ministry’s budget. Cypriots vote on Sunday, but opinion polls suggest it will go to

Hourly labour cost rises over 5%

The hourly labour costs (total cost) rose by an annual 5.2% in the second quarter of 2022, according to provisional data by the Statistical Service of Cyprus. The two main components of

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Cost of building materials spike 17%

The cost of building materials in Cyprus continues to rise, while the Central Bank warned the war in Ukraine will only make things worse for the construction industry. According to the Cyprus

Cost of bricks up 23%, asphalt down 20%

The cost of bricks jumped by a quarter last year, together with other construction materials, driven by the Covid-driven slowdown in global supplies, as well as the drop in crude prices that

Hourly labour costs spike 6.1% in Cyprus

Hourly labour costs increase year-on-year in Cyprus (6.1%) in Q3 were nearly three times the eurozone average (2.6%) and double that of the EU28 (3.1%). In the second quarter of 2019, hourly