Banking network shrinks by over half

Cyprus’ banking network has shrunk by a quarter in the past three years, as many branches have closed and the workforce reduced as banks go digital. According to the Association of Cyprus

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Economy performing better than pre-COVID

Cyprus’ economy is on the rebound following two and a half years of coronavirus restrictions, as indicators perform better than in pre-pandemic 2019. According to data released by the Cyprus Statistical Services,

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National minimum wage set at €940

The government is introducing a national minimum wage from January, set at €940 after six months in the job, announced Labour Minister Kyriacos Koushos. The decision is heralded as a “historic move”

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Cyprus unemployment rises to 5.1%

The seasonally-adjusted unemployment rate in Cyprus was lower than the European average at 5.1% in June, compared to 6.6% in the euro area and 6.0% in the EU, according to Eurostat. But

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Central Bank downgrades GDP growth

The Central Bank of Cyprus (CBC) has downgraded its forecast for 2022 GDP economic growth by 0.9 percentage points due to the negative effects of the Ukraine war and the sanctions against

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