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Deposits in Cyprus banking system at €48.5 billion in January 2020

Deposits in the Cypriot banking system in January 2020 amounted to €48.5 billion whereas loans were €33.6 billion, according to data released on Thursday...

Cystat: 6.3% unemployment in 4th quarter 2019

The unemployment rate in the fourth quarter of 2019 was 6.3% of the labour force,  the Cyprus Statistical Office said on Thursday citing the...

EC: Real estate activity in Cyprus to slowdown in medium term

Real estate activity in Cyprus is set to slowdown in the medium term, according to the European Commission’s semester report released on Wednesday. The registration...

CIP applications still reviewed on the basis of old criteria

Interior Minister Nicos Nouris has said that new regulations over the controversial Cyprus Investment Programme have not come into effect as yet. And that...

Cyprus economy still experiencing large economic imbalances says EC

Cyprus’ economy is still characterised by large economic imbalances, which, unless addressed, may impede its medium-term economic prospects, the European Commission said on Wednesday. In...

Economic sentiment in Cyprus falls in February due to weaker business confidence in services

In February 2020, economic sentiment in Cyprus deteriorated as the Economic Sentiment Indicator (ESI-CypERC) decreased by 0.7 points compared with January 2020. According to Economics...

Finishing touches to minimum wage bill

The island’s Ministry of Labour seems to have what it takes to enable it to introduce a national minimum wage,   Phileleftheros reports. Studies by the...

Sterling rebounds after selloff though outlook cautious

Sterling rebounded on Tuesday as markets worrying about the spread of coronavirus found some stability, encouraging investors to pare back their rush into dollars...

New hope over status of open contract civil servants

The island’s Legal Service must substantially amend a proposal by the island’s Solidarity Party changing the status of some 4,000-5,000 civil servants on open...

Cyprus won’t attract companies operating in black-listed jurisdictions

Cyprus is trying hard to attract foreign companies since the services sector is one of the economy’s main pillars, Phileleftheros reports. The recent announcement by...

Turkish economy grew 5% in Q4, 2019 growth just above forecast

Turkey's economy grew 5% in the fourth quarter and expanded 0.6% in the year as a whole, just above the government forecast, a Reuters...

MOKAS confiscates assets worth €221.5m

Cyprus' Unit for Combating Money Laundering (MOKAS) has frozen and confiscated cash and assets worth €221.5 million so far. These include cash, bitcoins, real estate,...

Eurozone inflation rises to 1,4%, stable at 0.7% in Cyprus

Eurozone's annual inflation rate was 1.4% in January 2020, up from 1.3% in December 2019, according to Eurostat data released on Friday. In Cyprus, inflation...

Longer-dated bonds lead euro zone debt rally

Longer-dated euro zone government bonds led a broad rally on Thursday as concern about an economic slowdown in the region and damage to Asian...

Fewer made in China products due to coronavirus

Cyprus has also been affected by the global economic impact of coronavirus, with more and more business people recording shrinking stock. Others have already had...

Fewer Cypriots now go overseas for work

Fewer Cypriots now go overseas for work while the domestic market is flooded with more and more migrants seeking a job and a better...

Germany’s Merkel rejects reduction of EU budget rebates

Chancellor Angela Merkel said on Wednesday that Germany rejected the reduction of rebates in negotiations on the European Union budget. Germany had a fundamental interest...

Up to €1 billion in owed taxes to be written off

The island’s Department of Tax is in the process of writing off almost €1bn in outstanding tax to bring the amount owed to €1.4bn,...

Scope: Strong growth prospects but contingent liabilities remain

Strong growth prospects and sustained fiscal discipline places Cyprus' public debt on a firm declining path but contingent liabilities, healthcare and public sector wage-related...

Private sector services keep the state going

Ministries, semi-state authorities and other government services are reaching out to the private sector for all kind of services in a bid to meet...

Reunification would boost income by 7% in a decade, World Bank says

The reunification of Cyprus, divided since the 1974 Turkish invasion, accompanied by the appropriate supportive policies would see the income of both Greek Cypriots...

Top Stories

Coronavirus patient critical at Limassol hospital

A coronavirus patient at Limassol hospital is reported to be in critical condition and has been placed on a respirator. According to the State Health...

24 coronavirus patients at the Famagusta reference hospital

Nine more coronavirus patients have been admitted to the Famagusta hospital, the reference institution for confirmed cases, raising the number to 24. According to CNA...

Man attacks police during restriction checks, in custody

A 30 year old Georgian man was remanded in custody for 2 days by the district court in Limassol after attacking officers and damaging...

First batch of Chinese medical aid to Cyprus is ready

The first batch of the Chinese medical supplies assistance to Cyprus in aid of its coronavirus fight, is ready for transport, said Ambassador Huang...

Hope shines-Wuhan, source of virus, lifting lockdown

Τhe Chinese city of Wuhan, where the coronavirus outbreak first emerged, began lifting a two-month lockdown today by restarting some metro services and reopening...

Taste

Village salad

A must-have with every meal is a village salad. You will find it in every tavern or greek restaurant you visit in Cyprus. Make...

Courgettes with eggs

Heat the oil in a frying pan and fry the courgettes at a medium heat until they soften. Add salt and add the eggs....

Classic Pastitsio

Prepare the mince sauce: heat the butter in a pan and sauté the mince with the onion and garlic until nicely browned, mixing well....

Grilled vegetable and goat cheese rolls

Brush the vegetables with olive oil and season. Heat a pan/griddle and cook them carefully until golden on both sides, making sure their shape...