The European Union’s monetary authority has raised the alarm over the performance of Cypriot banks, as the island’s banking system lags behind all other eurozone states. The Single Supervisory Mechanism (SSM), in
German authorities have caught Cypriot cheesemakers exporting Halloumi products that do not meet the required EU standards under its PDO (Product of Designated Origin), increasing fears Cyprus could lose its flagship export.
Some 200 Bank of Cyprus employees have pushed the ‘exit’ button taking the ‘generous’ offer for early retirement with compensation, as the bank seeks to offload 500 staff before resorting to redundancies.
Invest Cyprus, the state authority for attracting foreign investment, has awarded seven international companies for their vote of confidence in the Cypriot economy. The seven firms awarded at the 10th Invest Cyprus
Commissioner Elisa Ferreira said on Thursday that Cyprus is the first EU state to have its Cohesion Policy programme approved for access to €1 bln in regional development and cohesion funds. Financial
The introduction of a national minimum wage is up in the air, as social partners appear to be dangerously drifting apart, instead of converging, after meeting President Nicos Anastasiades. The sides were
New credit granted by Cypriot banks increased by nearly 30% in the first five months of the year compared to 2021, pushed upwards by higher demand for household and business loans. According
The Bank of Cyprus has announced plans to downsize its staff, officially offering a Voluntary Retirement Plan to 500 – 600 employees from its 3,400 workforce to maintain profitability. The news comes
A government financial watchdog is concerned over the delays in Cyprus implementing its Recovery and Resilience Plan, warning that further delays will adversely affect economic growth and unemployment. In a statement, the
It is a fact that until quite recently, managing and executive directors believed that Corporate Sustainability/ESG matters, and the Corporate Sustainability Responsibility at large, were more of a trend than the core
