Economy

Cyprus highest in EU for oil dependency– 86% of energy oil-based

Cyprus has achieved one of the highest shares of renewable energy production in the European Union, with renewables covering 96% of domestic energy output. High...

Paphos tourism outlook remains positive despite challenges

The tourism outlook remains optimistic, with potential losses in the current period expected to be offset in the coming months, according to Michalis Mitas,...

European stocks fall to their lowest level in two months

Markets hit by energy and inflation concerns European stocks dropped to their lowest levels in over two months on Monday as a sharp rise in...

Oil prices surge above $100 a barrel for the first time since 2022

Petrol and diesel prices are climbing rapidly, with analysts warning that unless crude oil costs fall sharply, drivers will face significant price hikes. Every...

How the Middle East crisis could affect Cyprus’ economy and tourism

Economist Yiannis Telonis has warned that the ongoing geopolitical crisis in the Middle East could place pressure on the Cyprus economy, particularly through rising...