Cypriot Finance Minister Charilaos Stavrakis presented last Thursday to the House of Representatives the 2009 state budget, ahead of a ''difficult year'' in the wake of a prolonged....

The production and supply of electricity will be opened up to private industry with effect from January 1, 2009 as Cyprus gradually frees up its energy market, Commerce Minister Antonis Paschalides sa....

The Cabint appointed three new members to the board of the Central Bank, Government Spokesman Stefanos Stefanou announced. Stefanou said that on the recommendation of the Finance Minister, the cabinet....

Cyprus government to offer notebooks for gymnasium students

The government of Cyprus has decided to offer to all students enrolled at gymnasiums a budget of EUR 350 per student to purchase notebooks. Education Minister Andreas Demetriou believes that because t....

Cyprus inflation falls sharply in November

Inflation in Cyprus fell rapidly in November mainly as a result of falling international oil and food prices. The consumer price index in November 2008 decreased by 1.0% compared with the previous m....

Supermarkets see highest turnover for card payments

Supermarkets have seen the highest turnover this year in terms of payments by credit or debit cards, according to data from JCC, the plastic card joint venture run by the commercial banks. Supermark....

Nearly half of Cyprus households have Internet access

Nearly half of households in Cyprus had access to the Internet during the first quarter of 2008, up from 39% from the respective period a year ago, but still lower than the EU27 average of 60%. Mean....

Cyprus 2009 growth forecast lower

EU Ministers of Finance agreed on Tuesday on the guidelines for the European Commission's plan for the recovery of the European economy. The plan worth 200 billion euros translates into 1.5% of t....

Cyprus petroleum sales up only 0.8% in Jan-October

Sales of petroleum products rose by only 0.8% in January-October 2008, compared with the corresponding period of the previous year, according to the latest figures from the Statistical Service Cystat.....

Cyprus outbound tourism up 1.4% in October

On the basis of the results of the Passengers Survey, 98,527 residents of Cyprus returned from a trip abroad in October 2008 compared to 97,131 in the corresponding month last year recording an increa....

Central Bank sees Cyprus GDP growth in 2009 at 2%

Cyprus's economy is expected to register a slowdown to growth of around 2% in 2009, with inflation seen falling below 3%, Central Bank Governor Athanasios Orphanides said. 'The assessment ....

Chicken prices up 9.4%, milk up 19.3% in Q3

The production of cows’ milk for August decreased to 11,710 tonnes from 11,960 tonnes in the previous month. Compared to the same month of the previous year, however, it increased by 4.18%. Mi....

Cyprus tourism revenue down 3.7% in October

Revenue from tourism in Cyprus fell by 3.7% year on year in October, even steeper than arrivals which dropped by 2.6% in the same month. On the basis of the results of the Passenger Survey, revenue ....

Fewer than 7% of Cypriots shop online

Fewer than 7% of Cypriots shop online according to the annual survey by the Statistical Service covering households and enterprises. The household survey covered 1,599 households and 3754 indiv....

Cyprus turnover data show hotels down, professional services up

The turnover value of the “Hotels and Restaurants” sector for the period July-September 2008 recorded a decrease of 1.2% compared to the corresponding period of 2007, in keeping with falli....

Cyprus industrial production up 2.6% in September

The industrial production index reached 129.2 in September 2008, recording an increase of 2.6% compared with September 2007. For the period January - September 2008, the index recorded a rise of 3.4....