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Moody’s: Payment holidays shield banks in 2020, deterioration very likely in 2021

    The high level of loan payment holiday in Cyprus may shield the banks in 2020 but suggests that asset quality deterioration is “still very...

New property general manager of City of Dreams Mediterranean, Cyprus Casinos

    Melco has announced the promotion of Grant Johnson as Senior Vice President, Property General Manager of City of Dreams Mediterranean and Cyprus Casinos “C2”. With...

EU current account surplus of €59.9 bn in Q1 2020, €0.9 bn deficit in Cyprus

EU seasonally adjusted current account of the balance of payments recorded a surplus of €59.9 billion (1.8% of GDP) in the 1st quarter of...

Cyprus industrial production value and employment increased in 2018

Cyprus industrial production value and employment in the sector increased in 2018 by 11.4% and 7% respectively on an annual basis, data released by...

CySEC fines Commerzbank AG €650,000 for market manipulation

    The Board of the Cyprus Securities and Exchange Commission (CySEC) completed its investigation regarding the compliance of the now defunct Cyprus Popular Bank (CPB)...

New espresso blends at Alphamega Hypermarkets’ cafeterias

    Alphamega Hypermarkets are investing in the coffee culture that has grown significantly in Cyprus over these past few years, making sure to offer high-quality...

Household saving rate all time high at 16.9% in the euro area

The household saving rate in the euro area increased to 16.9% in the first quarter of 2020, from 12.7% in the fourth quarter of...

KEDIPES proceeds plunge by 35.6% due to coronavirus pandemic

Revenue of KEDIPES, the state-owned asset management company plunged by 35.6% in the first quarter of 2020 compared with Q4 of 2019, due to...

Inflation plunged by an annual 2% in June affected by Covid-19

Inflation in Cyprus plunged by an annual 2% in June, marking the highest yearly drop since July 2015, as prices continue to decline affected...

Industrial producer prices in Europe and Cyprus decrease in May

In May 2020, industrial producer prices fell, compared with April 2020, by 0.6% in the euro area by 0.5% in the EU and by...

Property sales recover following lockdown easing

Property sales island-wide are back to February levels in June following the lockdown brought about by the Coronavirus outbreak, Insider reports. According to data from...

Spike in Cyprus’ debt due to Covid-19 transitory, Moody’s says

    Moody's anticipates the spike in Cyprus public debt will be transitory and will return to a sustained downward path after the coronavirus crisis wanes,...

Cyprus’ current account further deteriorates in Q1 2020

  The current account of Cyprus recorded a significant deterioration in the first quarter of 2020, while the international investment position of Cyprus marked a...

President to lay foundation stone for Cyprus LNG Import Terminal

    In a ceremony on July 9, President Nicos Anastasiades will lay the foundation stone of Cyprus LNG Import Terminal, which will pave the way...

Suspended installments at request of borrowers at € 1.31 b in June

    The total amount of suspended installments at the request of borrowers rose to €1.31 billion on June 5 2020, from €1.26 billion on May...

Greek, Cypriot finance ministers upbeat as economies emerge from lockdown

  The Finance Ministers of Cyprus and Greece Constantinos Petrides and Christos Staikouras have sent positive signals over the two economies’ prospects following a successful...

Euro area annual inflation up to 0.3% in June, at -2.5 in Cyprus

In June 2020, a month in which many COVID-19 containment measures have been gradually lifted, Euro area annual inflation is expected to be 0.3%,...

INVEST CYPRUS: Quality Investments for the Country

The facts may have changed the Cyprus Investment promotion agency's action plan, but not the main core of its efforts, the attraction of quality...

Industrial production down by 10.6% in first four months of 2020, by 35.3% in April

Industrial production was down by 10.6% on an annual basis in the first four months of the year, while it fell by 35.3% in...

Monthly earnings of Cyprus employees up by 3.3% in Q1 2020

Monthly earnings of employees in Cyprus were up by 3.3% in the first quarter of this year on an annual basis, provisional data released...

Economic Sentiment and Employment Indicators in June regain 30% of crisis losses, rises to 79.7 in Cyprus

In June 2020, the recovery of the Economic Sentiment Indicator (ESI), which had tentatively started in May, intensified, according to  data released today by...

Top Stories

11 new Covid cases in Cyprus, number steadily down, tests rising

  11 new cases of Covid-19 were announced today in Cyprus, out of a total of 3,314 diagnostic tests, taking the total number to 1233. New...

Police fire tear gas at Beirut protesters furious after explosion

  Lebanese riot police fired tear gas at demonstrators trying to break through a barrier to get to the parliament building in Beirut during a...

82 year old killed in Paphos while trying to move his car off the pavement-victim named

  An 82 year old man was killed this morning in Paphos, as he was trying to move his car away from a pavement near...

Paphos fire has scorched 5 square kilometres, still raging, destruction ‘biblical’ (update)

  A fire that broke out early this morning near the Paphos community of Archimandrita and spread on a 20 kilometre front near the villages...

Brazil COVID-19 deaths reach 100,000 and barrel onward

  Brazil’s death toll from COVID-19 is expected to hit 100,000 today and continue to climb as most Brazilian cities reopen shops and dining even...

Taste

Octopus ‘Kathisto’ (or Octopus braised in Wine)

Ingredients: 1/2 cup Greek extra virgin olive oil 2 medium onions, chopped fine 1 large octopus, about 2kg (cleaned and kept whole) 3/4 cup dry red wine 1/3 cup...

Homemade lemonade

Ingredients: 1 cup lemon juice 1 cup sugar Method: Thoroughly wash the lemons with soap and warm water. Roll each lemon with the palm of your hand, pressing...

‘Striftaria’ mini cheese pies

Ingredients 1 ½ cup milk 2 tbsps. flour 4 tsps. of butter 3 eggs, slightly beaten + 1 extra with 1 tbs. of milk for spreading 1 pack of...

Mini potato canapes baked on salt

Ingredients Serves: 12 1kg small Cypriot potatoes rock salt, as needed 250g salted butter 300ml full fat cremé frâiche 1 pot cod or salmon roe Method Prep:20min › Cook:35min › Ready in:55min Take...