Cyprus’ economic sentiment in July dipped 4.7 points from June, reflecting worsening consumer confidence and weaker business activity in services. Uncertainty among firms in all sectors and consumers painted a gloomier outlook.
EU Finance Ministers have approved Cyprus’ €1.2 bln Recovery and Resilience Plan to exit the pandemic during a scheduled videoconference on Monday. The government’s proposal is included in the second batch of
General Manager of McDonald’s Cyprus, credited with the organization’s charitable work on the island, Renos Andreou died after a long illness aged 67 on 21 July. Widely known for his charity work,
Third Point Hellenic Recovery Fund L.P. is selling its 12.6% stake in Hellenic Bank to Athens-based Eurobank SA for an estimated €41.6 mln, ending fund manager Daniel Loeb’s unproductive venture into the
Ireland’s Eurogroup President Paschal Donohoe praised Cyprus’ “impressive recovery” from the coronavirus outbreak, saying it was down to good national policies coupled with EU decisions. In his first visit since the pandemic,
Moody’s Investors Service has affirmed RCB Bank’s deposit rating and upgraded its outlook from ‘stable’ to ‘positive’, despite the pandemic-induced fragile economic environment. RCB Bank said, “the rating by Moody’s has remained
Venus Minerals said its ongoing drilling programme in Troodos had confirmed the discovery of gold as a significant component of its deposit in Kokkinoyia. The Cyprus-based exploration company has identified economically significant
Cyprus’ hospitality sector plans to protest against the government’s decision to make owners responsible for checking that customers carry a Safe Pass. Phanos Leventis, of the Leisure and Entertainment Establishment Owners Association,
By Panicos Demetriades Soon after the report on the ‘citizenship by investment’ scheme, fellow economist George Koumoullis convincingly made the case that Cyprus is a kleptocracy – a system of government in
The EU Commission forecast of economic progress for Cyprus shows the recovery of the Cypriot economy with projections of over 4% GDP growth in 2021 in line with Nicosia, the Finance Ministry
