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General government surplus at 0.8% of GDP in Q1 2020

The general government surplus grew to 0.8% of GDP for the first quarter of 2020, according the preliminary General Government fiscal results, which are...

Work resumes on City of Dreams Mediterranean

  Melco has announced that construction works at City of Dreams Mediterranean resumed on Wednesday,  setting course to deliver Cyprus’ first and only licensed Integrated...

Cyprus economy to shrink by 7.4% in 2020 — EU

The Cyprus economy will shrink by 7.4% in 2020, public finances will record a -7.0% deficit, domestic demand is expected to fall moderately and...

Israel, Greece, Cyprus mull tourism ‘safe zone’

With the coronavirus pandemic already taking a toll on the sector,  the Tourism Ministers of Israel, Greece and Cyprus have been discussing a proposal...

Cyprus to extend ENI/TOTAL exploration contract amid Covid-19 pandemic

The Ministry of Energy is planning to extend the exploration contracts of the Italian-French ENI/TOTAL consortium due to the impact of the coronavirus pandemic,...

Investors keen to move ahead with Larnaca port marina project

  Investors of the joint development plan for Larnaca Port and Marina have assured the town's mayor that planning is continuing and that they wish...

Doing business following a state of emergency & measures to stimulate businesses in Balkans

Eurofast is hosting a webinar on May 5 titled “Doing business following a state of emergency & measures to stimulate businesses in the Balkan...

Cyprus shipping applauds its seafarers around the world

The Cyprus Shipping Chamber, through its Member-companies, participated in a global initiative, in view of Labor Day, sounding the horns of ships in Limassol...

Aviation sector in Cyprus must be supported, says FSF-MED director

The aviation sector in Cyprus must be supported, Executive Director of the Flight Safety Foundation- Mediterranean (FSF-MED) Christos Petrou has told CNA, urging the...

March jobless rise to 6.6% in March

In March 2020, the month when COVID-19 containment measures began to be widely introduced by Member States, the euro area seasonally-adjusted unemployment rate was...

Investment in alternative sectors can boost growth (opinion)

Mining industry can become a significant contributor to the Cyprus economy By Peter van der Borgh* A crisis can often teach us valuable lessons or drive...

Retail businesses contribute €1b to country’s GDP, FinMin says

  Finance Minister Constantinos Petrides said on Thursday that the businesses selected to open in the initial stages of restarting the economy were based among...

FinMin says current phase of Covid-19 response most difficult and dangerous

The second phase of managing the Covid-19 crisis which Cyprus enters in the next few days, is the most difficult and dangerous, as Minister...

BoC reports €70 m net loss for 2019

Bank of Cyprus, the island’s largest lender, said it will update macroeconomic assumptions underlying the IFRS9 calculations which may lead to increased organic provisions...

General Government’s deficit at €277.4 m in Q4 2019

The General Government's deficit increased by €104.4 million in the fourth quarter of 2019 on an annual basis, the Cyprus Statistical Service announced on...

Revenue from tourism down 5.5% in February

Revenue from tourism reached €49.5 m in February 2020 compared to €52.4 m in the corresponding month of the previous year, recording a decrease...

Spike in credit card use amid coronavirus outbreak

Cypriot consumers are increasingly turning to credit cards as opposed to traditional cash payments for their daily needs amidst the coronavirus pandemic, data by...

Survey: Foreign investors satisfied with Covid-19 response

There is a high degree of satisfaction among foreign investors in Cyprus with the measures taken by the government to tackle coronavirus pandemic. This was...

Deposits in the banking system decline by €452min March

Deposits in the Cypriot banking system declined by €452.4 million in March amid the coronavirus pandemic, according to data released by the Central Bank...

CyGas says committed to planning introduction of natural gas in Cyprus

CyGas submitted an application for the management of the Liquefied Natural Gas (LNG) facility on Friday, April 24 to the Cyprus Energy Regulatory Authority...

Economic Sentiment Indicator slumps 21.9 points

In April 2020, economic sentiment in Cyprus deteriorated further as the Economic Sentiment Indicator (ESI-CypERC) of the University of Cyprus decreased by 21.9 points...

Top Stories

Anastasiades unveils new package to boost economy

  President Nicos Anastasiades on Wednesday announced a new package of 10 measures to help the economy through the coronavirus crisis that includes liquidity, guarantees...

NPLs in the Cyprus banking system decline below €9 billion

Non-performing loans (NPLs) in the Cypriot banking system declined to €8.97 billion in the end of 2019, with the NPL rate amounting to 27.9%...

Prodromou says no intention to discriminate against disabled pupils, asks parents to work with experts on solutions

Education Minister Prodromos Prodromou addressed anew on Wednesday the backlash that followed an announcement on May 20 that children with disabilities were not to...

No new Covid-19 cases on Wednesday

  There were no new Covid-19 cases in Cyprus on Wednesday the Health Ministry said, only the second time of zero cases since the start...

Paphos most booked holiday destination for Britons in April, May 2021

  Paphos is the most booked destination for British holidaymakers in April and May next year, the Daily Mail reported on Wednesday citing data collected...

Taste

Traditional salads that will blow your mind away

This traditional salads will make you actually love salads! Cyprus may be famous for souvla and kleftiko but if you try the traditional salads with...

Honey Balls

As you stroll down Onasagorou street in the old city of Nicosia and suddenly feel the need for something sweet, follow the smell of...

Octopus with Oregano

Ingredients: (Serves 4) 1 kg octopus ½ tsp dry oregano Pepper 3 tbsp olive oil 2 tbsp vinegar or lemon juice Preparation: Clean the octopus thoroughly under cold running water. Place the octopus...

Fish meatballs

In a bowl, mix the finely chopped onion and parsley. Boil the fish, cut into small pieces and add to the bowl. Add salt...