UK interest rate rise on the back of higher inflation
Biggest rate increase for 27 years
By St John Coombes
This week the Bank of England increased interest rates by 0.5 per cent, taking interest rates to 1.75 per cent. This is the ...
The risk of economic stagnation
By Andreas Charalambous and Omiros Pissarides
Recent developments suggest that the US and the EU are moving towards stagflation, that is the coexistence of inflation and low economic growth, with ...
The implications for public debt of high inflation and monetary tightening
By Zsolt Darvas
Rising inflation has triggered monetary tightening in several countries, and the resulting higher interest rates raise concerns about public debt sustainability in countries with high public debt. ...
‘Cyprus must also think about the quality of the tourists it attracts’
Cyprus Association of Hotel Managers president Christos Angelides on Friday said that the hotel occupancy rate in the Famagusta district is expected to reach between 85 and 90 per cent in August.
“...
Business leaders call on govt to boost food self-sufficiency, predict ‘upheavals ahead’
Business leaders have called on the president to urgently boost the island’s self-sufficiency in terms of the food supply, warning that based on current data, higher prices and shortages “...
The role of embassies in business
The embassies of a country are a reflection of the country abroad. When it comes to the world of business, embassies should promote the business interests of the country that ...
Coronavirus: Employers federation calls for lifting of measures
The Employers and Industrialists Federation (Oev) on Thursday asked the health ministry to lift all coronavirus measures, saying that other countries were doing this and because businesses cannot take much ...
House committee sounds alarm over higher port fees
The managing companies at the Limassol port came under fire once again on Tuesday from MPs concerned that higher charges will lead to inflation.
“We cannot play with inflation,” said ...
Christmas business down 50-65 per cent at recreation centres
Business at leisure and recreations centres were down between 50 and 65 per cent over the holiday weekend, the association of recreation centres (Osika) said on Monday.
The measures taken to deal ...
EU approves €1bn Cypriot scheme to support business and self-employed
The European Commission has approved a €1billion Cypriot scheme to support enterprises and self-employed individuals in the context of the coronavirus outbreak. The scheme was approved under the State aid ...
Ayia Napa business closed down for operating without a license
Famagusta district court ordered the temporary closure of an Ayia Napa business that was operating without the relevant license from the deputy ministry of tourism and without a liquor permit, ...
Cyprus down three places in IMD world competitiveness ranking
Cyprus ranks in 33rd place on the 2021 IMD World Competitiveness Ranking index, moving down three places compared with 2020.
According to the Economics Research Centre of the University of Cyprus, the ...
€700,000 in grants to boost businesses along Green Line
A total of €700,000 in grants were presented on Friday by Interior Minister Nicos Nouris and Nicosia Mayor Constantinos Yiorkadjis to 18 private companies operating in areas adjacent to Nicosia’s Green ...
House approves law for tax breaks for landlords renting to businesses
Parliament on Thursday passed two items of legislation granting tax breaks to landlords who voluntarily reduce their rents to businesses financially stricken by the coronavirus-related restrictions.
The first bill provides ...
State payments to businesses begin
The government has started making payments to some 30,000 businesses and the self-employed as part of a state assistance scheme for direct cash grants to cover operating expenses.
According to the ...