Cyprus’ Investment Funds sector is on an upward trajectory and has developed rapidly, with over €11 billion under management. Total Assets Under Management have risen from €6.3 billion in 2018 to €11.1 billion in the first quarter of 2022, according to Cyprus Securities and Exchange Commission (CySEC) data. Officials believe Cyprus has all the guarantees
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Authorities have greenlighted the creation of the island’s first crematorium, finally allowing people to choose their burial method several years after the law was passed. The landmark crematorium is to be built by a funeral home in the Paphos village of Ayia Varvara. The development comes more than six years after the legislation was introduced
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After Cyprus suffered a 5-1 humiliating defeat by Kosovo in the UEFA Nations League, they now face Gibraltar in a relegation playout to avoid dropping into the tournament’s bottom rung. The match in Pristina, in League C Group 2, ended with the Cypriot team finishing in the last place, behind Northern Ireland, despite having gathered
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The average gross monthly earnings of Cyprus employees increased by €100 in the second quarter of 2022, according to provisional data published by the Statistical Service. Wages reached €2,081, compared to €1,982 in 2021, recording an increase of 5%. Although the salary increase is way behind almost double-digit inflation. The average gross monthly earnings of men during
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The EU tourism industry has rebounded from the COVID-19 pandemic strongly, with data for 2022 approaching 2019 levels, according to Eurostat. The total number of nights spent in tourist accommodation in the first half year of 2022 was still lower than during 2019 (1.01 billion in 2022 compared to 1.18 bln in 2019) but better
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Cyprus is expected to join Hungary and Malta in opposing tougher European Union sanctions on Russia over its invasion of Ukraine, reported the Financial Times. The bloc has already issued seven sanction packages, approved by all 27 members, but an update of measures has already been vetoed by Hungary, with Malta and Cyprus appearing sceptical.
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Economic sentiment improved during September by 4.5 points compared with August, as consumer confidence recovered, according to the Economics Research Centre of the University of Cyprus (CypERC). The increase in the ESI-CypERC index from 96.7 to 101.2 was driven by confidence gains in all sectors and consumers. However, the index is still lower than in February
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Environmental NGOs BirdLife and the Committee Against Bird Slaughter (CABS) raised the alarm on the “repeated and illegal bird killings taking place around Lake Soros in Meneou”. In a joint statement, BirdLife Cyprus and CABS said, “the illegal slaughter of birds has continued for another year, despite calls for a permanent ban on hunting in
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By Craig Erlam We’re in for another day of risk-off trade, with parts of Asia recording heavy losses and Europe opening on the backfoot. Fear of tightening-induced recessions has wiped out the recovery we saw in stock markets over the bulk of the summer, as investors were once again burned by an over-eagerness to catch
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Business owners in Cyprus are still worried over the growing impact the war in Ukraine is having on the island’s economy, a business to business (B2B) survey carried out by the employers’ lobby group has found. Seven out of ten (68%) businesses interviewed for the survey said they are primarily concerned over the impact of
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