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January 21, 2019

Category : Economy

Breaking News Brexit Cyprus News Cyprus Politics Economy Featured

Temporary arrangements for bases in event of no-deal Brexit

Cyprium News Reporting
The British Bases is one of the issues for which temporary arrangements will apply should the United Kingdom exit the European Union without an agreement on March 29, Foreign Minister Nicos Christodoulides said on Thursday. Speaking to reporters after a meeting of cabinet, he said he had briefed the Council...
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Hitachi to halt work on UK nuclear plant

Cyprium News Reporting
Hitachi has announced it will suspend work on a £20bn nuclear plant in the UK because of rising construction costs. The decision puts thousands of jobs at risk if the Wylfa Newydd facility in Anglesey, north Wales, is scrapped. The Japanese firm had been in talks with the UK government...
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May seeks to end Brexit stalemate after winning confidence vote

Cyprium News Reporting
Prime Minister Theresa May won a confidence vote in the British parliament on Wednesday and then appealed to lawmakers from across the political divide to come together to try to break the impasse on a Brexit divorce agreement. Lawmakers voted 325 to 306 that they had confidence in May‘s government, just 24 hours after handing her...
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East Mediterranean Gas Forum brings Cyprus closer to its goal

Cyprium News Reporting
Cypriot Energy Minister George Lakkotrypis said a decision to set up the ‘East Mediterranean Gas Forum’ was of enormous importance to Cyprus. Cyprus, Greece, Egypt, Italy, Israel, Jordan and Palestine participated in the ‘East Mediterranean Gas Forum’ based in Egypt and its objective is the optimal joint exploitation of hydrocarbon...
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Brexit is in peril, May warns ahead of vote on her deal

Cyprium News Reporting
Prime Minister Theresa May warned on Monday that Britain’s planned exit from the EU could be derailed, a last-ditch effort to win over Brexit-supporting lawmakers who have repeatedly said they will vote down her divorce deal. The fate of the United Kingdom’s March 29 exit from the EU is deeply...
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Consumers voice concern over ‘sham’ sales

Cyprium News Reporting
Consumers are voicing concerns of ‘sham’ sales after finding a hidden, cheaper price sticker underneath the initial price sticker, Phileftheros reported on Monday. They fear they are being tricked into thinking that the shop is offering a bigger discount than it actually is. The newspaper cited the case of one...
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Brits to vote again? Brexit delay creates headache for Europe

Cyprium News Reporting
Brexit paralysis has prompted talk of a British election or a second referendum but one odd side-effect could be Britons having to cast their votes for an EU parliament they had decided to leave. Britain is scheduled to quit the European Union on March 29, two months before citizens of...
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Theresa May considering Labour MP’s demands on workers rights

Cyprium News Reporting
The government is considering giving extra protections to workers and the environment in order to win support for its Brexit withdrawal agreement. The proposals have been put forward by Labour Leave supporter John Mann. Business Secretary Greg Clark said the amendment showed “Parliament coming together” behind the PM’s deal. But...
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Second Commons defeat for Theresa May in 24 hours

Cyprium News Reporting
Rebel Tory MPs have joined forces with Labour to inflict a fresh blow on Theresa May’s government in a Commons Brexit vote. It means the government will have to come up with fresh plans within three days if Mrs May’s EU withdrawal deal is rejected by MPs next week. It...
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Amazon CEO Jeff Bezos, wife MacKenzie set to divorce

Cyprium News Reporting
Amazon.com Inc Chief Executive Jeff Bezos and wife MacKenzie Bezos have decided to divorce after a long trial separation, Bezos said on Wednesday in a joint statement by the couple on Twitter. Amazon.com again became Wall Street’s most valuable company this week, surpassing Microsoft Inc. Bezos’ fortune has soared to...
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World Bank top economist expects no recession in Turkey

Cyprium News Reporting
The World Bank does not expect recession in Turkey, the bank’s top economist said on Wednesday. “We have looked at what happened when there is a sharp currency depreciation, so we have put together whole data base of years and countries, which depreciation was 30 percent or more than the...
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Britons would now vote to stay in EU, want a second referendum

Cyprium News Reporting
More Britons want to remain a member of the European Union than leave, according to a survey published on Sunday which also showed voters want to make the final decision themselves. Britain is due leave the EU on March 29, but Prime Minister Theresa May is struggling to get her...
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€800,000 in subsidies for Fiber internet

Cyprium News Reporting
Cabinet decided on Tuesday to make €800,000 available in subsidies to households to install high-speed fibre internet. Deputy government spokeswoman Klelia Vasiliou said that each household would receive a subsidy of €350. The state will make available €800,000 which means that 2,285 households will benefit on a first come first...
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Ercan airport serviced 3.7 million passengers in 2018

Cyprium News Reporting
Around four million passengers used Ercan airport to travel in 2018, the Turkish Cypriot media report. According to Halkin Sesi, between January and November 2018, 3,740,067 million passengers used Ercan to travel in 24,744 flights. Of them, 1,715 were charter flights and 695 were private flights. transport minister Tolgan Atakan on Friday...
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Anastasiades expects USA to express interest for Greece, Cyprus & Israel cooperation

Cyprium News Reporting
Nicos Anastasiades has said that he expects that the USA will express in practice its interest to also take part in the tripartite cooperation between Greece, Cyprus and Israel. Anastasiades, who was addressing, here today, the 6th Energy Symposium, entitled “Faced with great decisions on energy”, said that cooperation mechanisms with...
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Charge for Plastic Shopping Bag rule in force

Cyprium News Reporting
Shoppers are being required to pay for plastic shopping bags in the supermarket as of Saturday, 1 December. Traders are expected to charge for bags from today onwards at around 25 kuruş per bag. The Department of Environmental Protection will initiate spot checks to ensure compliance with the new ruling.
Breaking News Cyprus News Cyprus Politics Economy Featured

Inflation in the TRNC at 15 year high

Cyprium News Reporting
Inflation in September in the TRNC rose to 37.23% which is the highest in 15 years. Citing figures released by the ‘central bank’, Yeni Duzen newspaper said that inflation in July, August and September was  20.3%, 29.88% and 37.23%, respectively. Last year’s inflation for the corresponding months was 14.64%, 24.29%...
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Cypriots pay for the 11th most expensive electricity in the EU

Cyprium News Reporting
Household electricity prices in Cyprus are the eleventh most expensive among EU member states, a Eurostat study found. In the first half of 2018, Cypriots paid 0.1893 euro per a kWh of electricity. Of those, 0.448 are taxes and levies. The highest electricity prices are in Denmark, where citizens pay 0.3216 euro...

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