Total scientific research and experimental development (R & D) expenditure in Cyprus reached just 0.43% of GDP in 2008 according to the results of the ad hoc survey carried out by the Statistical ....

Industrial turnover grew fairly strongly in May, as the Industrial Turnover Index rose by 5.6% compared with May 2009. However, the manufacturing turnover the index for May 2010 was the same level a....

Fugitive tycoon Asil Nadir is flying back from the Turkish occupied Cyprus to Britain on Thursday in order to face multi-million fraud charges from which he fled after the collapse of his Polly Peck e....

Cyprus economic sentiment up 2 pts

Cyprus business sentiment improved in August in line with an increase in economic sentiment, a survey showed on Tuesday. The economic sentiment indicator (ESI) rose 2 points to 73 units in August co....

Travel abroad accelerates y/y in July

More people travelled abroad in July 2010 than in July 2009, according to the results of the Passengers Survey published by the Statistical Service Cystat. The survey showed that 138,801 residents o....

Cyprus revenue rises faster than expenditure in Q2

Government revenue rose faster than expenditure in the second quarter of 2010, according to preliminary data on the General Government accounts for the period April-June 2010. Total revenue amounted....

Cyprus wine festival opens in Limassol on Friday

The 49th Wine Festival, held annually in the southern coastal town of Limassol, the main winegrowing region of Cyprus, will open its doors on Friday. The Wine Festival, to last until September 5, is....

Baghdatis loses to Federer in Cincinnati Masters semifinals

Cyprus tennis star Marcos Baghdatis lost 2-0 set to Roger Federer, seeded second, in the semifinals of the Cincinnati Masters Tournament on Saturday and is out of the games with 360 points, which brin....

Piraeus Bank seen swinging to Q2 loss

Piraeus Bank, Greece's fourth-largest lender, is expected to report a second-quarter loss, hit by a one-off austerity tax and higher loan-loss provisions as the recession deepened. Piraeus will....

Cyprus construction prices rise 2.7% in July

The price Index of construction materials for July 2010 reached 120.29 units (base year 2005=100.00) recording a rise of 2.73% over July 2009 and a decrease of 0.31 % over June. For the period Janua....

Lebanon ship will not head for Gaza from Cyprus on Sunday

A ship carrying women activists and aid will no longer head to Gaza via Cyprus from Lebanon on Sunday, the organisers said, after Nicosia announced it would not allow the vessel to sail from its ports....

Powerful Cyprus ace Baghdatis beats Nadal to advance in Cincinnati

World number one Rafa Nadal fell to Cyprus's Marco Baghdatis 6-4 4-6 6-4 in the quarter-finals of the Cincinnati Masters Friday as three of the top four seeds lost out. Britain's Andy Mur....

Greek betting firm OPAP Q2 net seen down 61%

Greek betting firm OPAP's profit is expected to have more than halved in the second quarter, hit by a windfall tax the government imposed on businesses to shore up its ailing finances. Analysts....

Cyprus government revenue up 2% in January-July

A mild recovery of 2% was recorded by state revenue in January – July compared with the corresponding period of 2009. Property and capital gains tax led the state revenue for the first seven mon....

Drop in Cyprus ship registry in first half of 2010

The number and the gross tonnage of ships registered under the Cyprus flag dropped in the first six months of 2010, compared to the corresponding period a year ago. The number of registered ships wa....

Fourth suspect in media-boss murder case extradited to Cyprus

Gregoris Xenofontos, the fourth suspect in the murder case of Andis Hadjicostis, managing director of the Dias media group, was extradited to Cyprus late Wednesday evening from Moldova where he fled a....