A European Union directive to reduce the size of homes entitled to lower 5% VAT endangers the recovery of the construction sector and the economy, say, real estate experts. According to a
The European Commission’s winter forecast confirms the positive course of the Cypriot economy, with real GDP increasing 5.3% in the first ninth months of 2021 and a further increase of 4.1% projected
The government is trying to find ways to absorb a hefty 16% hike in tariffs announced by the three concessionaires at Limassol port, with the business community up in arms, saying this
Cyprus real estate and construction sectors are stressed from skyrocketing prices of building materials, making it harder to recover from the pandemic and scrapping of the ‘golden passports’ scheme. According to the
October 2021 was the most profitable October for the tourism sector as income from tourists holidaying on the island hit an all-time high for the month. According to data by the Cyprus
The Cypriot economy in 2021 recovered the output lost during the COVID crisis and will continue to grow at an average of 3.7% GDP in 2022 – 2024, the Central Bank of
Cyprus will introduce a national minimum wage next year, as social partners are set to agree on the monthly income for workers that could be closer to €1,000 a month. According to
Cyprus bank deposits in November increased 5.8% annually while loans decreased, according to Central Bank data. According to the data, total deposits in November recorded a net increase of €480.8 mln, compared
Sales of petroleum products in Cyprus have taken off, as they recorded an increase of 24.9% in November 2021, compared to the same month in 2020, with 115,658 tonnes of fuels sold,
Last minute shoppers saved Christmas for retailers who went from reporting another dismal holiday season, to seeing their turnover increase by 7-7.5% compared to last year. Cypriots’ habit of leaving shopping for
