Economy

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

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...

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...

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

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...

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

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...

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,...

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

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...

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

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...

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...

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...

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

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

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...

Volatility in the euro-dollar exchange rate surged to its highest in more than a year on Friday, as growing fears over a coronavirus outbreak...

The Republic of Cyprus fully repaid on Thursday an International Monetary Fund (IMF) loan granted to the country in the period 2013-2016. According to a...

Cyprus will strip three more foreigners of citizenship granted to them under a controversial investment programme, Phileleftheros reports. The latest decision which was recently taken...