Retail, tourism driving GDP growth

Annual Gross Domestic Product generated €6.2 bln in the first quarter of the year, showing an increase of 3.4%, bolstered by the retail sector and tourism revenue. Based on seasonal and working

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E-basket in parliament

A bill regulating a new digital platform for monitoring retail prices, known as the e-basket, was discussed at the House Commerce Committee on Tuesday. The new digital platform aims to support the

Law to stop charges on credit card purchases

Parliament wants to end retailers charging customers a surcharge for paying with plastic money by taking advantage of loopholes in the existing legislation. Under a 2021 law, all businesses offering services are

December retail trade volume decreased

The volume of retail trade in Cyprus decreased by 0.2% over Christmas compared to November, which increased slightly by 0.1% during Black Friday sales. Compared to December 2021, trade volume increased by

Black Friday off to slow start

Retailers reported their Black Friday sales began an underwhelming start amid a waterfall of complaints of fake offers, with consumers also dissatisfied with the discount level, which averages 20%. Shopkeepers were banking

Don’t fall into Black Friday ‘traps’

Consumers are urged to do their homework and research online before heading to stores hunting for bargains on Black Friday. The Cyprus Consumers Association has issued guidelines for shoppers, warning them not