Home Insider Economy

Economy

CBC governor:Banks should transfer capital cushion to economy

Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC), will hold a teleconference with the chiefs of the Cypriot commercial banks to discuss...

Coronavirus crisis reminds of 2013 financial shock in Cyprus

Uncertainty and fear sparked from the coronavirus outbreak brings back memories of 2013 when Cyprus suffered the shock of haircut on deposits and a...

Invest Cyprus tender call for services to audiovisual industry

Invest Cyprus has called for tenders for accounting, auditing and bookkeeping services to the island’s fledgling audiovisual industry. The contract concerns the provision of consultancy...

FinMin: Net financial impact of support package to cost €450m

The net financial impact of the support package approved by the Council of Ministers on Sunday will bet  €450m, while another €250m will be...

Cyprus’ financial support package to coronavirus-affected companies almost ready

The Cyprus government is putting the final touches on the financial package providing financial support to companies in response to the coronavirus. The package is...

Economic fears in Cyprus over Italy’s lockdown

Coronavirus has already affected imports and exports worldwide with a recorded slowdown in trade, Phileleftheros reports. And with Italy already under a national lockdown, economic...

Cyprus prepares national fiscal package of measures to counter coronavirus

The government is drafting a national fiscal package of measures based on three pillars to counter the economic consequences of the coronavirus epidemic, Phileleftheros...

Cyprus economy moves into uncharted waters

The Cyprus economy has some buffers but limited resistance to tackle a potential economic slowdown because of the coronavirus, Phileleftheros reports. That’s why the government...

250 Estia scheme applicants eligible, House Committee hears

Of the 5600 applications submitted for Estia scheme, 507 applications were processed until last week, of which 250 are eligible, according to Michalis Kronidis,...

Coronavirus has Cyprus tourism industry preparing for the worse

The Mediterranean island’s tourism industry is preparing for the worse now that coronavirus is spreading fast and two confirmed cases have been recorded in...

Social partners to launch talks on COLA permanent reform

Social partners in Cyprus are to start negotiations aiming towards an agreement for a permanent reform of Cost of Living Allowance within the next...

Public Service Commission calls for prompt submission of 2019 annual reports

The island’s Public Service Commission (NSA) has called on ministries and semi-governmental organisations and departments to prepare the 2019 annual service reports on time,...

Standard & Poor’s affirms Cyprus’ growth prospects, points out coronavirus risks 

Standard & Poor’s Global Ratings has affirmed its `BBB-/A-3` long- and short-term foreign and local currency sovereign credit rating on Cyprus with a stable...

Unemployment in February down; highest recorded in hotel industry

The number of registered unemployed in Cyprus in February 2020 dropped to its lowest level since August 2009, according to data released by the...

Tax Department returns tens of millions

The Tax Department has returned up to €53 million  to 212,689 payers between 2017 and 2019 in a bid to sort out pending obligations...

Jobless decline by an annual 14% in February

The number of registered unemployed persons in February 2020 declined to 25,620 persons marking a reduction of 13.9% or 4,131 persons compared with the...

US State Department very positive over Cyprus’ anti-money laundering bid

The Republic of Cyprus continues to upgrade its established anti-money laundering legal framework, according to the US State Department’s Anti-Money Laundering (AML) report released...

Cyprus targets Ukrainian, Polish tourist markets

The Deputy Ministry of Tourism aims to reduce Cyprus' dependence on its two major markets of Britain and Russia. That is why it has...

Cyprus property sales drop in first two months of 2020

Property sales this year are on the decline with the first two months recording a 7% drop. Sales in three districts were down with...

Cyprus in 2019 marks five years of consecutive economic growth

Cyprus in 2019 marked its fifth consecutive year of economic expansion since the 2013 financial crisis, with the Ministry of Finance noting that the...

From traditional bank employees to managers of NPLs

The transformation of Cyprus’ banking sector also marked the transition of employees into a new "parallel" market focusing on the management of non-performing loans. That’s...

Top Stories

162 new cases, five deaths announced on Monday

The Health Ministry announced the death of five persons due to COVID-19. This raises the death toll from the virus in Cyprus to 175,...

Where to get antigen rapid tests on Tuesday

The Health Ministry announced the following antigen rapid test sites for Tuesday, 19 January 2021: LIMASSOL Apostle Loucas Church, Agios Athanasios 08:30-16:30 Agios Stylianos Church, Linopetra 08:30-16:30 Cultural...

Searches for 70 year old woman missing at sea suspended due to bad weather

Searches to find a 70 year old woman missing off the Phiikoudes beach in Larnaca have been suspended due to extremely bad weather conditions...

Tourist arrivals plunge by 84% in 2020 in one of Cyprus’ worst tourist seasons due to Covid

Tourist arrivals in Cyprus reached a mere 631,609 plunging by 84.1% year on year in one of the worst ever season for Cyprus’ tourist...

Germany demands release of Kremlin critic Navalny

Germany on Monday demanded the release of Kremlin critic Alexei Navalny, detained on Sunday on his return to Russia, and said it would discuss...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...