Finance Minister Constantinos Petrides confirmed that European monetary bodies consider resorting to interest rate hikes to deal with high inflation. Addressing a conference on the future of Europe organised by the Glafcos
The pandemic has accelerated banks’ plans to downsize by closing more branches and merging others while making the most of technological advancements. News site Stockwatch quoted Hellenic Bank sources saying the group
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
