Last year, Cyprus had the EU's highest deficit to GDP ratio (4.4%) while its government debt ratio (100.6%) was the fourth biggest, according to newly updated Eurostat figures. Only two Member States
By Hussein Sayed, Chief Market Strategist at FXTM Traders around the world were eagerly anticipating the opening of forex markets Monday morning and Sterling, following Saturday’s House of Commons (non-) vote on
Cyprus has yet again failed to improve its position in another economic competitiveness report compiled by an international body while offering no national blueprint to rectify the situation. Following its poor performance
Hoteliers are fuming over having to jump obstacles created by state bureaucracy and legislators while trying to recover from the multi-million loss caused by the collapse of tour giant Thomas Cook.
A change in pay policy for local bank staff is unavoidable and management needs to engage with the unions on this issue, new Bank of Cyprus CEO Panicos Nicolaou argues. “The banks
By Han Tan, Market Analyst at FXTM Most Asian stocks were lower early Friday, after China’s Q3 GDP came in slightly below market expectations at 6%. September industrial production growth far exceeded
Cyprus hoteliers are complaining over a long delay by the Legal Service in examining the bill on criteria for a new ranking system for hotels and tourist accommodation. As a result, hotels
Cyprus financing needs for 2020 will be covered by bond issuances on international capital markets amounting to €1.25 bln, the Finance Ministry’s Public Debt Management Office (PDMO) said. In an investor presentation,
Fitch Ratings has revised Bank of Cyprus conditional pass-through (CPT) mortgage covered bonds Outlook to Positive from Stable and affirmed the rating at A. The rating action follows the Outlook revision to
Non-performing loans (NPLs) rose for a second consecutive month in May amounting to €8.05 bln with non-performing exposures (NPEs) dropping by €11 mln to €10.13 bln, or some 30.8% of total loans.
