Harmonised inflation rose to 9.1% in Cyprus in June compared with June last year, marking a new historic record, pushed by the soaring prices in energy.

The Bank of Cyprus is offering a Voluntary Retirement Plan to 500 - 600 employees of its employees in the hopes that it can reduce its number of employees in order to maintain profitability. If employees do not accept the plan, however, the bank may opt to make them redundant.

MPs are undecided on whether to pass a European Union directive reducing the size of homes entitled to lower 5% VAT or face hefty financial penalties, while the construction industry wants authorities to ignore it.

Cyprus’ drive to attract high-tech companies, combined with increased interest from firms to relocate, moving from geopolitically unstable regions, is expected to boost demand for real estate.

The percentage of flights affected in Cyprus by travel delays at European airports is milder, but Tourism Minister Savvas Perdios advised Cypriots to avoid travelling abroad during the holiday peak of July-August.

Cyprus’ first deputy minister for culture Yiannis Toumazis on Monday was sworn in during a special ceremony at the Presidential Palace.

Monthly passenger traffic at Cyprus airports in June surpassed the one million mark for the first time in 33 months, said Larnaca and Paphos operator Hermes Airports.

Employees around the world now hold more sway in the global job market, with two-fifths (43%) of respondents saying they are likely to quit in the next 12 months – driven mostly by a desire for higher total pay, better career opportunities and flexibility amid rising inflation, a shrinking labor market and an increase in jobs offering flexible working – according to the EY 2022 Work Reimagined Survey.

Larnaca hoteliers are ‘relatively satisfied’ with occupancy rates in June, especially in view of the loss of tourists from two of their main markets — Russia and Ukraine, the Larnaca Tourism Board said on Thursday citing the results of a survey.

Cyprus’ Central Bank on Tuesday hailed the adoption by the Cabinet of the report of an ad hoc committee on financial literacy, saying that this is a step forward for the citizens’ financial well-being.