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.

Finance Minister Constandinos Petrides met with political party leaders on Wednesday to present the comprehensive and holistic framework for the management of non-performing loans as well as protection measures of primary homes of vulnerable households.

The Governor of the Central Bank of Cyprus, Constantinos Herodotou, said he was in favor of the ECB gradually increasing key interest rates while keeping its options open, stressing that the European Central Bank should consider the impact of each increase and act accordingly.

Those hoping for immediate relief from the continuous surge in energy prices may be disappointed in today’s meeting on the issue, with top officials instead looking towards longer-term solutions.

Another step has been taken towards converting Paphos into a smart city with the introduction of a smart parking management system on Friday.

The construction of the Paphos-Polis Chrysochous highway officially began on Friday. The Minister of Transport, Communications and Works, Yannis Karousos, was on hand to mark the "historic" day, as he called it.

The EU’s Fit-for-55 initiative to combat climate change approved by EU environment ministers is a balanced package that takes on board Cyprus’ concerns and will help it transition to a green economy, ministers for the environment and transport Costas Kadis and Yiannis Karousos said on Wednesday.

With €25,000 worth of funds donated by the Transport Ministry, students from the Technical School in Nicosia converted a 1971 VW Beetle into an electric vehicle and presented it to Transport Minister Yiannis Karousos.