Cyprus GDP shrank in real terms by 2.2% during the second quarter of this year compared with the same quarter of the previous year, data released by the Cyprus Statistical Service, on Wednesday, show. According to the data, GDP stood at €3,494 million in the 2nd quarter of 2014 compared to €3,571.2 million in the

While lending interest rates in Cyprus are somewhat higher than elsewhere in the Euro area, they have been falling lately, European Commissioner for Economic and Monetary Affairs and the Euro Jyrki Katainen said in a written reply to a relative question by Cypriot MEP Takis Hadjigeorgiou. Katainen said that “the Commission is aware of the

The Council of Ministers approved on Wednesday the Action Plan of Digital Strategy for Cyprus. According to an official press release issued here today, the Action Plan aims to modernize the public sector to operate without paper, by simplifying administrative processes and reducing costs while providing citizens and businesses with a more friendly environment. The

Parliamentary parties will continue discussions on a government bill on foreclosures Thursday as disagreements between the parties and Cyprus` international lenders remain. During a closed meeting of the parliamentary committees of Financial and Internal Affairs in the presence of the Minister of the Interior and the Attorney-General, Finance Minister Harris Georgiades gave the Troika`s response

By Jameel Ahmad, Chief Market Analyst at FXTM   Since the USDJPY surpassed the 103 psychological resistance level around two weeks ago, which had acted as somewhat of a ceiling for the pair since early April, the USDJPY has been on quite the bull run. The pair further advanced by around another 90 pips yesterday,

 * Directors investigated for 2009-2011 dealings * President Nicos Anastasiades has set an ambitious target to make the first arrests of crooked bankers that led to the economy’s collapse by the end of the year. Lax supervision by state and Central Bank officials, senior bankers, as well as board members resulted in Cypriot banks buying

The Troika of international lenders is expected to give its final nod of approval or rejection of amendments to the controversial foreclosures bill, that has to be passed by parliament prior to Friday’s Eurozone finance ministers’ meeting.   President Nicos Anastasiades said Tuesday that the government was continuing its deliberations with the parliamentary parties ahead