Seasonally adjusted GDP rose 0.5% in the last quarter of 2016 in Cyprus compared to the previous quarter and by 2.8% compared to the same quarter of 2015, according to Eurostat estimates.   The same index rose by 0.4% in the euro area (EA19) and by 0.5% in the EU28 during the fourth quarter of

Moody’s has assigned Caa2 long-term local and foreign currency deposit ratings, in its first ever rating for the state-owned Cooperative Central Bank.   The rating agency also assigned Not-Prime short-term local and foreign currency deposit ratings and a caa2 baseline credit assessment (BCA) with a ‘stable’ outlook, as well as long- and short-term Counterparty Risk

Having overcome all the challenges and difficulties of the past four years, Cyprus has succeeded to build new prospects for the economy, Finance Minister Haris Georghiades said at the launch of the new Limassol Del Mar residential project.   “Today’s official launch makes this project a point of reference for Limassol and the economy in

Dr Olga Kandinskaia, a full-time resident faculty at the Cyprus International Institute of Management (CIIM) has won a top prize in the prestigious annual case writing competition organised by the Case Centre for her work on the toy-building startup, Engino.   This is a first for Cyprus and for the CIIM. Other recipients included professors

Economic sentiment in Cyprus deteriorated in February 2017 as the Economic Sentiment Indicator (ESI-CypERC) decreased by 1.9 points compared with January 2017.   The decline resulted from the worsening of business confidence in services and retail trade, and the weakening of consumer confidence, according to the monthly survey of the Economics Research Centre of the

The auction for EUR 100 mln in 13-week treasury bills yielded 0.04%, according to the Finance Ministry’s Public Debt Management Office.   Tenders for a total amount of EUR 313 mln were submitted on Tuesday, during a 13 Week Treasury Bills Auction, with the PDMO saying that it accepted tenders amounting to EUR 100 mln

Air transport boomed last year due to the establishment of new airlines in the island and seems to have been unaffected by the closure of loss-making Cyprus Airways.   Data from the Statistical Service Cystat showed that the air transport turnover value index reached 3.93 units in the 12 months of 2016, compared to 0.3