President Nikos Christodoulides has urged banks to take concrete steps in absorbing some of the increased cost of borrowing from interest rate hikes burdening the economy and households. During an interview with
The number of registered unemployed decreased in August, both on an annual and monthly basis, according to data released Tuesday by the Statistical Service. Based on seasonally adjusted data reflecting the unemployment
Amid a rising wave of attacks and anti-migrant demonstrations, authorities and businesses warn that the economy would collapse should foreign labour be eliminated. In comments to news site Stockwatch, Labour Minister Yiannis
Cyprus’ Fiscal Council, advising the government on economic policies, is worried that borrowing from the Social Insurance Fund has reached a “tipping point” threatening to derail public finances. In a note to
Political parties are increasing the heat on banks to absorb part of the increased cost of borrowing from interest rate hikes burdening the economy and households. As the European Central Bank prepares
In July, the Prices Observatory conducted by the Consumer Protection Service (CPS) recorded increased prices for 32 out of 45 categories of staple foods. There were price deductions for 13 staple food categories. However,
Eurobank Cyprus, the local subsidiary of the Eurobank Group with a presence in six countries, has acquired the 17% stake in Hellenic Bank held by Pimco to become the local lender’s biggest
Cyprus banks are feeling the heat from political parties and the government to absorb part of the increased cost of borrowing created by interest rate hikes burdening the economy and households. According
The Finance Ministry fended off accusations fired by the opposition that government policy has taken its toll on the economy. “The Cypriot economy continues its upward trend, and unlike other European countries
Seasonally adjusted GDP in Cyprus dropped by 0.4% in the second quarter of 2023, compared with the previous quarter but was up by 2.3% annually, according to a flash estimate by Eurostat.
