Nicosia in top five European cities for coffee lovers
Nicosia is ranked as the fifth-best city in Europe for coffee lovers, with the most hours of sunshine and the least amount of rainfall over the summer months.
Eurostat
Dollar tumbles on soft inflation, weak retail sales
The EURUSD pair reached a monthly high near 1.0870 as the US Consumer Price Index eased and Retail Sales remained stagnant in April.
Q1 growth rate seen at 3.5%
The Cyprus economy’s growth rate in real terms during the first quarter of 2024 is positive, with a gross domestic product estimated at 3.5% year-on-year according to Cystat.
Two new electric vehicle charging points opened in Nicosia
Two new electric vehicle charging points were opened in Nicosia. The city aims to minimize its carbon footprint by reducing pollution created by cars and facilitating access to environmentally friendly forms of transport. The government set a target of having 80,000 electric vehicles in Cyprus by 2030.
Coffee prices fall in Cyprus
The cost of coffee fell in Cyprus between March 2023 and March 2024, with prices decreasing by 2.3 percent. Despite this decrease, coffee prices in Cyprus are still higher on average compared to other parts of Europe.
Digital Taxation around the World
Digital Taxation around the World | Tax Foundation Skip to content taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. policies, a significant number of countries adopted unilateral tax measures targeted at digital businesses, … Read more
Eyes on Eurozone inflation and GDP
The text discusses market updates including GDP data for the Euro area and Germany, US economic docket, US Dollar performance, US Treasury bond yield, Japan’s intervention in foreign exchange markets, EURUSD gains and losses, Retail Sales data from Germany, Private Sector Credit and Retail Sales data from Australia, PMI data from China, AUDUSD performance, GBPUSD performance, and Gold price movements.
High share of overqualified workers, ICT sector thrives
Cyprus is among the top countries in Europe in terms of the gross value added by the provision of services in the information and communication technology sector.
Greek economy surges after decade of pain
Fact: The Greek economy is forecast to grow nearly 3 per cent this year, approaching its pre-crisis size of 2009 and far outpacing the eurozone average of 0.8 per cent.
No need to raise retirement age says minister
The social insurance fund (SIF) in Cyprus is financially viable until at least the year 2080, based on an actuarial study outlined by Labour Minister Yiannis Panayiotou. The study found that the fund’s revenues are sufficient to cover annual increases in spending on pensions, and the reserves of the SIF are at satisfactory levels. The analysis determined that it is not necessary to raise the retirement age until the next review in 2025. The International Labour Organisation recommended diversifying the SIF’s investment portfolio and gradually altering its investment policy. The review’s findings will serve as a baseline for the planned pension reform of 2025.