New loans up, mortgages dip in H1

Pure new credit (excluding renegotiated loan facilities) rose by an annual 1.26% in the first six months, with rate hikes by the European Central Bank affecting mortgages which marked a reduction of

/

Private debt at €218% of GDP

Private debt in Cyprus (households and non-financial corporations) was 218% of GDP in the first quarter of 2023, with debt in absolute numbers totalling €60.1 bln, the Central Bank of Cyprus (CBC)

/

May tourism revenue jumps 40.7%

A substantial annual increase of over 40% was recorded in tourism revenue for May as holiday arrivals climbed. According to the official data, tourism revenue in May – when 420,000 tourists arrived

/

Economic sentiment deteriorates

Economic sentiment in Cyprus deteriorated in July due to weaker business confidence in the services sector and lower consumer optimism, according to a University of Cyprus index. The Economic Sentiment Indicator (ESI-CypERC)

/

UCY: 2023 GDP growth, inflation at 3%

GDP growth and inflation will drop to 3% in 2023, according to forecasts of the University of Cyprus’ Economic Research Centre. The ERC noted the projection for 2023 remains unchanged compared to

/

Unions demand access to casino resort

Trade Unions are demanding to unionise staff at Europe’s first super casino resort, City of Dreams Mediterranean, officially opened by President Nikos Christodoulides in Limassol. The employer considers it has the legal

/

Four-day week gaining traction

The four-day week is gaining traction, as civil servants’ union PASYDY has officially tabled a demand to test drive the idea during the summer in a meeting with the Finance Ministry last

/
1 … 10 11 12 13 14 … 52