The Conference of Presidents of the European Parliament, consisting of the President of the Parliament Martin Schulz and the presidents of the political groups, convenes Thursday in Nicosia, in view of the Republic’s upcoming Presidency of the Council of the European Union. As part of the visit, Schultz will meet in the afternoon with Cypriot

The government remains committed to achieving necessary structural changes and fiscal targets set, so that a return to growth is possible, Cyprus Ministry of Finance has said on Wednesday. A ministry press release issued here today comments on European Commission’s recommendations on the Cyprus economy and its special report on macroeconomic balances. The European Commission,

Minister of Labour and Social Insurance Sotiroula Charalambous has handed over to the Cyprus Airways Board of Directors and the employees union on Wednesday the government’s plan for the company’s restructuring. A two day deadline, ending at midnight on Friday has been given to both parties in order to reply to the proposals of the

The flow of deposits in the domestic banking system continued in April for the third month running, according to data released by the Central Bank of Cyprus. The Bank announced on Wednesday that deposits in domestic financial institutions recorded an increase of 0.5% in April on an annual basis or 816.6 million euro, reaching 71.60

Cyprus should take additional measures to reduce government spending and reform the health and pensions sectors in order to meet a national stability programme and for the economy to return to a path of growth, the European Commission said on Wednesday in its annual economic recommendations to all 27 member states. The European Union’s ruling

Ten years ago Cyprus was enjoying full employment and Germany was struggling with high jobless rates. Ten years later, Cyprus's unemployment has hit 10% and Germany's is just 5.6%. This could be linked to the fact that Germany's wage increases have been slower and its productivity growth higher than that of Cyprus. This, in turn

France will miss its deficit goal next year without additional spending cuts and tax reforms, the European Commission said on Wednesday, sending a message to new French President Francois Hollande that his growth agenda faces severe constraints. Hollande wants to shift Europe's strategy towards growth and ease the pace of German-led austerity some economists blame

 * Minimal impact from Greece * Hellenic Bank, the third largest lender in Cyprus where the Church has a significant stake, reported 8 mln euros in net profits for the first quarter, nearly tenfold its profits in the same quarter last year of just under a million. The bank, widely considered a conservative institution with