Cyprus Business Now: CoLA, MoUs, banks, property, chambers, borrowers

An agreement was signed on Thursday to bring to an end the months of wrangling between workers and employers over the cost-of-living allowance (CoLA) and set how it is implemented going forward.

The signing was attended by President Nikos Christodoulides, who said that “a significant effort has been completed”.

“A permanent agreement on CoLA has been achieved through a responsible and constructive dialogue,” he said, before adding that “ more