The Eurozone economy is recovering gradually with a growth of 0.4% expected in both of the first quarters of 2017 respectively, after 0.4% growth in the fourth quarter of 2016, according to forecasts by the Ifo Institute (Munich), INSEE (Paris) and ISTAT (Rome). This development will be driven by private and public consumption, the
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. BOOK REVIEW Adair Turner: “Between Debt and the Devil”, (Princeton University Press, New Jersey) 2016. By Dr. Jim Leontiades Cyprus International Institute of Management A new book by Professor Adair Turner, former chairman of Britain’s Financial Services Authority during the recent recession, takes a fresh look at the role of banks, credit and much
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. By Antonis Loizou F.R.I.C.S. – Antonis Loizou & Associates Ltd – Real Estate & Project Managers It is with great disappointment that we observe a clear lack of direction and strategy from the state to the Land Surveys Dept. and other government services as regards leasing and development of public land. As a result,
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. Despite employers’ demands to abolish the costly and unproductive inflation-based wage indexation system – the automatic cost-of living allowance slapped on salaries – trade unions have once again found solace in the Labour Ministry’s appeal to employers not to cut salaries. And this, because the Ministry estimates that a rate of deflation will remain,
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* Anastasiades and Akinci continue on governance, EU and economy * President Nicos Anastasiades and Turkish Cypriot leader Mustafa Akinci will hold a meeting on Wednesday to discuss the territorial aspect during the ongoing talks in Geneva and the two sides are expected to exchange maps for the first time. The outcome of the
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Economic sentiment in Cyprus improved in December 2016 as the Economic Sentiment Indicator (ESI-CypERC) increased by 3.1 points compared to November following a pickup of business confidence in services, retail trade and construction. According to the Business and Consumer Surveys conducted by the Economics Research Centre of the University of Cyprus, the Services Confidence
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* Shares to debut on LSE, resume CSE trading from January 19 * Bank of Cyprus reached another milestone on Thursday (January 5) when it announced it had fully repaid its bailout-imposed debt and was on track to list its new shares on the London Stock Exchange on January 19. Finance Minister Harris Georgiades promptly
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The number of unemployed persons registered at the District Labour Offices dropped by 6.1% year-on-year to 41,852 in December, the statistical service Cystat said. The drop was mainly in construction (a decrease of 1,088 unemployed persons), manufacturing (-575), trade (-426), public administration (-425), transportation (-356) and newcomers in the labour market (-238). Based on
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Cyprus recorded its first rate of inflation in 24 months in December. The Harmonised Price Index (HICP) for December increased by 0.1%, compared to December 2015, while for the 12-month period between January and December, the HICP dropped 1.2% from a year earlier. The HICP for December, compared to November, increased by 0.3%. Compared
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Nearly 9 mln passengers travelled through Larnaca and Paphos airports last year, an increase of 18% from 2015, according to operator Hermes Airports. A significant increase was recorded in the number of passengers processed through both airports and a further boost to Cyprus’ connectivity, with the entrance of new airlines and the introduction of
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