With some resistance, the Cyprus government, trade unions, and employers are getting down to the nitty-gritty of the thorny issue of introducing a national minimum wage. The Labour Ministry is determined to
The pandemic has caused new turmoil and highlighted the ongoing concerns within the European Authorities about the Union’s banking system. The turmoil accelerated the reassessment and upgrading of the operating rules of
Standard and Poor’s revised the country’s largest lender Bank of Cyprus’ outlook to positive from stable, following a new NPL transaction titled Helix 3, reducing its non-performing loans ratio to single digits,
The Cypriot economy has proven to be more resilient to the coronavirus crisis than initially expected, DBRS Morningstar says in a commentary. It also notes that compared with other southern European economies,
Agriculture Minister Costas Kadis attended Wednesday the first-ever production of the traditional Cypriot halloumi cheese bearing the EU product of protected designation of origin (PDO) certificate. The first badge of halloumi bearing
Insurers must innovate to sustain profits and growth as technology alters consumers’ insurance needs and changes the way they buy protection, Moody’s Investors Service said in a new report. Rapid take-up of
Cypriots worked harder in the second quarter of 2021, as, on average, employees put in 5.8% extra hours at their job compared to the previous three months. Across the EU, working hours
Finance Minister Constantinos Petrides and ESM chief Klaus Regling highlighted the importance of implementing the Recovery and Resilience plans to diversify the economy in boosting growth potential post-pandemic. Regling in Cyprus to
A week before businesses are obliged to scan customer Safe Pass documents electronically; retailers have expressed their concerns as the application (CovScan) has proved problematic. The government allowed a grace period for
European companies’ general optimism for 2022 is dented by concerns over affordable access to energy and raw materials and shortages in skilled workers. It said only 33% of Cypriot businesses are more
