Clik here to view.
Electricity authority pre-purchases low priced fuel
The electricity authority (EAC) said on Friday it has pre-purchased 60,000 metric tons (MT) of fuel oil in an effort to make the best use of the low fuel prices recorded during this period in to best...
View ArticleClik here to view.
Next electricity bills to be 15% lower for households
The next electricity bills will be almost 15 per cent lower for the average consumer, the state power utility has said. Speaking to Economy Today, Christina Papadopoulou, spokesperson for the...
View ArticleClik here to view.
Cypriots seeing lowest electricity bills in years
Cypriots are set to enjoy the lowest electricity bills in almost 20 years, as the price of oil has tanked and the electricity authority is further knocking 10 per cent off the bill. A household of four...
View ArticleCoronavirus restrictions take toll on fuel sales
Fuel sales at petrol stations during the first 10 months of the year were significantly down compared to 2019, the decline attributed to the coronavirus-related restrictions on movement. Latest data...
View ArticleClik here to view.
EAC unions ask whether authority could absorb some of rising costs
State-owned electricity authority (EAC) unions said Friday they supported looking into whether the company could absorb the rising cost of production so that consumers won’t have to foot the bill. In a...
View ArticleClik here to view.
British industry warns of factory closures without help on fuel costs
Britain’s most energy intensive manufacturers, including producers of steel, glass, ceramics and paper, have warned the government that unless something is done about soaring wholesale gas prices they...
View ArticleClik here to view.
Queues form at petrol stations in north as two companies announce stop on sales
Queues have formed at gas stations in the north after two companies, K-Pet and AlPet announced they would stop selling fuel as of Wednesday, reports said. The two companies announced that under the...
View ArticleClik here to view.
Taxi drivers protest customs checks in Nicosia
Taxi drivers held a strike on Tuesday to protest the customs department’s decision to check whether they filled their tanks with fuel from the north, disrupting rush hour traffic in the capital. The...
View ArticleClik here to view.
Cyprus Business Now
The Cyprus Deputy Ministry of Shipping announced on Friday the expiration of the deadline for the submission of tenders to establish a passenger maritime link between Cyprus and Greece, as a service of...
View ArticleClik here to view.
Airlines use hedging, fuel surcharges to offset some pain as oil surges
The price of oil has surged to its highest level since 2008 after Russia’s invasion of Ukraine, adding to airline costs at a time when carriers have been struggling to recover from a pandemic-related...
View ArticleClik here to view.
British bases clamp down on fuel smuggling from north
Sovereign Base Areas (SBA) customs officials have revealed regular operations at the Pergamos and Strovilia crossing points have made a significant dent in the illegal smuggling of fuel from the north...
View ArticleClik here to view.
No grounds yet for fuel price ceiling, Pilides says
Cyprus fuel prices have surged in line with those abroad, but are still among the lowest in the EU, Energy Minister Natasa Pilides said on Friday, adding that based on the data before her, there were...
View ArticleClik here to view.
Potato farmers will take action if state does not support them
Following the rise in prices that has been at the centre of disputes and protests all over Cyprus in recent weeks, potato farmers said on Thursday they will also take action if the state does not...
View ArticleClik here to view.
PEO criticises government ‘inactivity’ over price increases
Despite the government’s attempts to gather proposals to tackle rising prices and inflation, some are already expressing their discontent over the expected outcome and point fingers at the government’s...
View ArticleClik here to view.
President mulls next move after House votes on VAT
President Nicos Anastasiades on Friday urged patience as he awaits the attorney general’s opinion on whether bills approved by the House plenary on Thursday regarding VAT on fuel and electricity bills...
View ArticleClik here to view.
President sends back foreclosure and VAT bills
President Nicos Anastasiades has refused to sign off on and has sent back to parliament three bills passed by the House recently – two relating to VAT on electricity and fuel, the other on extending a...
View ArticleClik here to view.
House meets after president sends back bills
The House plenary is holding an extraordinary session on Tuesday after President Nicos Anastasiades sent back three bills approved by MPs recently – two relating to VAT on electricity and fuel and the...
View ArticleClik here to view.
Inflation in July rose 10.9% year-on-year, up 8.23% in first eight months
Inflation increased by 10.9 per cent year on year in July driven by hikes in electricity, which rose 61.7 per cent and fuel 44.1 per cent during the period, the statistical services announced on...
View ArticleClik here to view.
Petrol station owners to report Republic to EC over fuel buying in the north
Petrol station owners have threatened to up the stakes in the ongoing fuel row with the north as their legal team on Tuesday said they will report the Republic to the European Commission. The core of...
View ArticleClik here to view.
Angry petrol station owners demand government action, compensation over north...
The island’s disgruntled petrol station owners on Wednesday urged the government to intervene over the issue of consumers buying fuel from the occupied territories in the north, and are now seeking...
View Article