Economy

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...

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...

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...

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

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...

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

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 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...

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...

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

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 while the domestic market is flooded with more and more migrants seeking a job and a better...

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...

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,...

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...

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...

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