The Cyprus economy shrank by 1.7% in 2009, according to the latest full figures on the national accounts. In the fourth quarter real GDP rell by 3.0% over the corresponding quarter of 2008. Based on....

Wholesale trade performed badly in 2009 according to the latest figures. The turnover value index of wholesale trade except motor vehicles and motorcycles for January-December 2009 recorded a decrea....

The Statistical Service has announced that total registrations of motor vehicles decreased by 18.7% to 6,984 in January - February 2010, from 8,586 in January – February 2009. Private saloon c....

Domino’s Pizza is back in Cyprus

After an absence of nearly ten years, Domino’s Pizza is back in Cyprus and is about to give other pizza companies a run for their money. Having started with two outlets in the mid 1990s, the l....

Shacolas receives flight safety award for Cyprus Hermes Airports

The Flight Safety Foundation/South East Europe – Middle East – Cyprus presented Nicos Shacolas, Chairman of Hermes Airports Ltd, with the Flight Safety Award, “for his outstanding co....

Cyprus cdbbank opens branch, reports ’09 profits

The cdbbank (formerly Cyprus Development Bank) opened its first branch in Nicosia and hosted a reception where the bank’s president, Rena Rouvitha Panou, announced that 2009 was a year of profit....

EIB signs €50 mln deal with Cyprus Co-op bank

The European Investment Bank has signed a EUR 50 mln agreement with the Co-operative Central Bank for financing small and medium-sized enterprises in Cyprus. The EIB increased its total lending volu....

Cyprus inflation nears 3% in February

Consumer price inflation in Cyprus continues to accelerate, with inflation reaching nearly 3% in February. According to the consumer price index, prices rose 2.9% over the same month of the previous....

Cyprus jobless rise, but at a slower pace in February

Unemployment continued to rise in February but at a slower pace than in previous months, according to the latest data from the Statistical Service. The number of unemployed registered at the Distric....

Cyprus tourism down again by 2.4% in February

Tourism arrivals dropped over the same period of 2009 by 2.4% in February to 55,250, compared with 56,626 in February 2009. This was the same pace of decline recorded in January, although one consol....

Turkish Cypriots spent EUR 2.5 mln in the south in Jan-Feb

Turkish Cypriots spent EUR 2.5 mln using credit and debit cards in the southern part of Cyprus during the first two months of the year, according to data from the credit card company JCC. In February ....

Cyprus credit card spending leaps in February

Credit card spending by locals jumped in February according to data from the credit card company JCC. Local plastic card use by Cyprus residents rose by 12% over the year earlier to EUR 156,263,219 ....

Cyprus company sues Genzyme biotech over Ukraine deal gone sour

A Cyprus company is suing the world’s third-largest biotechnology company, Genzyme Corp. of Massachusetts, over a major pharmaceuticals supply deal to the Ukraine that it claims went sour 13 yea....

Cyprus business confidence shows mild recovery

Business confidence in February improved by 2.2 points to 68.3 on a monthly basis according to the Business and Consumer Survey conducted by the Economic Research Centre of the University of Cyprus in....

UK MoD delays Cyprus contract decision till March 17

The British Ministry of Defence (MoD) has delayed the awarding of a GBP 200mln contract to support British servicemen in Cyprus as officials take extra time to evaluate the bids. "Project Wavel....

Cyprus to have natural gas network by 2014

Cygas calls for pipeline tenders Cyprus will have its own natural gas network according to Giorgos Shammas, Chairman of the Cyprus Energy Regulatory Authority who was briefing the House Finance Co....