WEDNESDAY, 2 DEC 2020

 

CONNECT

Facebook Linked In Twitter
GAP Vassilopoulos
GloriaJeans_266x90px
IMH LTD

Emilianidou: Government To Support Businesses And Employees During December

Cyprus President Tells UN Envoy He Is Ready To Attend Informal Meeting On Cyprus

IMH LTD

INTERNATIONAL

brought to you by CIPA

Covid-19 Shakes Up World’s Most Expensive City List

Covid-19 Shakes Up World’s Most Expensive City List

The world’s three most expensive cities are now Hong Kong, Zurich and Paris, according to a new cost of living report. Singapore and Osaka, which were equal first with Hong Kong last year, have slipped down the rankings. The Economist Intelligence Unit’s annual survey said Singapore’s prices fell because of an exodus of foreign workers due to the Covid-19 pandemic.

 

Most Chinese cities have risen as US-China tensions push up prices. “Asian cities have traditionally dominated the rankings in the past years but the pandemic has reshuffled the rankings of this edition,” said Upasana Dutt, the EIU’s Head of Worldwide Cost of Living. Bangkok also slipped twenty places, and is now ranked 46th most expensive. The EIU’s report is geared towards expatriates, with the data used by multinationals to help them calculate the cost of business trips and expatriate packages.

 

Most Chinese cities have risen up the rankings largely due to the US-China tech war which has tested the resilience of supply chains and raised consumer prices. Cities in the Americas, Africa and Eastern Europe have become less expensive since last year, while Western European cities have become costlier. Western Europe accounted for four of the ten most expensive cities on the index, with Zurich and Paris taking equal first place. Geneva and Copenhagen were seventh and ninth respectively.

 

This partly reflects the relative strength of European currencies on an index that compares every city to the cost of living in New York. The biggest price gains were in Iran’s capital Tehran, which moved 27 places up the rankings due to US sanctions, which have impacted the supply of goods. The EIU's Worldwide Cost of Living index compared the prices of 138 goods and services in about 130 major cities in September.

 

Overall, prices have been fairly flat, but the report said the prices of essential goods have been more resilient than those of non-essential goods. Logistical challenges also affected prices, with shortages of goods such as toilet roll and pasta fuelling price rises in some categories. Of the ten categories covered by the report, tobacco and recreation saw the biggest price increases, while clothing prices have seen the steepest decline.

 

Source: BBC

MORE ON INTERNATIONAL

UK Signs Trade Deal With Canada To Prepare For Brexit

Britain and Canada on Saturday signed an interim trade deal that guarantees continuity ...

Trial Of Ex-President Sarkozy A Landmark For France

He was nicknamed the "bling-bling" president for what many in France saw as his ...

UBS Becomes First Major European Bank To Pay Out Full 2019 Dividend

UBS shareholders on Thursday approved payment of the second half of its 2019 dividend, ...

FROM AROUND GOLDNEWS

   

Cyprus Expenditure On Healthcare At 6,7% Of GDP, Well Below European Average

The most recent statistics from Eurostat on current healthcare expenditure (public and private) show that on average in the EU, healthcare expenditure amounted ...
   

It Already Smells Like Christmas At Alphamega Hypermarkets

The countdown to Christmas has already begun and with its new TV ad, Alphamega Hypermarkets is reminding us how magical the merriest season of the year can be. ...
   

Emilianidou: Government To Continue Supporting Businesses And Employees During December

Labour and Social Insurance Minister Zeta Emilianidou called on companies affected by the decree of the Ministry of Health in December, not to dismiss ...
   

Cyprus President Tells UN Envoy He Is Ready To Attend Informal Meeting On Cyprus

President of Cyprus Nicos Anastasiades expressed the readiness and determination of the Greek Cypriot side to attend an informal meeting on Cyprus, which will ...
   

Fighting Fraud: An Insight Into NCA’s Use Of Non-Conviction Based Powers

Bank of Cyprus is presenting the digital “3rd Cyprus Anti-fraud Conference” on Tuesday, 15 December 2020. This year’s event will welcome a ...
   

Phivos Stasopoulos: We Are Extremely Well Positioned To Support Our Viable Clients

Hellenic Bank stated a profit after tax of €40,0 million in the first nine months of 2020, according to the Group’s financial results. For the same ...
   

1st Limassol Corporate Blood Donation - Together We Care

In an effort to raise awareness regarding the importance of giving back to society, and the donation of blood in this time of need, the corporate community of ...
   

IN Business Awards: Best Workplace (Employer Of Choice)

For the 13th consecutive year, the ΙΝ Business Awards reward business excellence in 9 categories (in which the public participates in the voting process). ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Banking_19/11/20-14/01/21
Invest_Cyprus_12/10-12/12

IMH LTD