64 h. ago Cyprus trade turnover rises 5.7 per cent to €19.34 billion in 2023

Cyprus’ trade sector recorded positive growth in 2023, according to the state statistical service’s wholesale and retail trade survey, the results of which were released on Wednesday. Turnover and employment both increased during the reporting period, although value added at current prices fell slightly due to declining fuel prices. The report showed that total turnover […]

Politics

9 d. ago Rising prices signal tougher period ahead, says borrowers association

Rising prices in raw materials, fuel, energy and basic food items are only the beginning of a more difficult economic cycle that lies ahead, according to Costas Melas, president of the Cyprus Borrowers Association (Syprodat). In a statement released this week, Melas said that “it is of critical importance for the state to act immediately […]

Politics

1 week ago Cyprus urged to decouple renewable prices from fossil fuel volatility

Cyprus must urgently decouple renewable energy prices from volatile fossil fuel costs to ensure stability and fairness in its electricity market, according to energy systems expert and former Cyprus Energy Regulatory Authority chairman Andreas Poullikkas. Poullikkas mentioned that Cyprus is preparing to implement the European Target Model in its electricity sector. He described the move […]

Politics

2 w. ago Berova: Fuel Prices Cheaper Than in Southern Cyprus and Turkey

Berova: Fuel Prices Cheaper Than in Southern Cyprus and Turkey  Kıbrıs Postası

Politics

2 w. ago Papanastasiou: no justification for any increase in fuel prices

Energy Minister George Papanastasiou on Tuesday said there was no justification for any increase in fuel prices despite the present geopolitical upheaval in the Middle East. Speaking after the conclusion of the day’s House energy committee meeting, he said that countries which produce crude oil are “continuing to produce at the rate they were producing”. […]

Politics

3 w. ago Cyprus’ petrol prices begin to rise amid Middle East conflict

Petrol prices in Cyprus have begun to rise as a result of the ongoing conflict between Iran and Israel, with petrol station owners’ association chairman Savvas Prokopiou on Thursday saying two importing companies had raised their wholesale prices the previous day. Speaking to the Cyprus News Agency, he added that he expects Cyprus’ remaining fuel […]

Events

3 w. ago Energy ministry calls on oil traders to show ‘maximum responsibility’

The energy ministry on Sunday called on oil traders to demonstrate the “maximum responsibility” as the conflict in the Middle East sent oil prices soaring over the weekend. Meanwhile, the ministry’s consumer protection service said it is “monitoring wholesale and retail fuel prices on a daily basis”. The ministry said that in the event that […]

Politics

4 w. ago Fuel prices to go through the roof, petrol station owners say

Fuel prices are expected to rise sharply as a result of escalating tensions in the Middle East, chairman of the association of petrol station owners Savvas Prokopiou said on Friday. “Unfortunately, an increase is expected [ ] and this time it will be steeper, as the price of crude oil rose by $10 per barrel within […]

Politics