Construction activity declined in October with approved building permits dropping 15.5% to 583 from 690 in the previous month of 2020, although Nicosia and Famagusta districts made gains. According to official data
Cyprus is among those EU countries most vulnerable to a sustained drop in tourist arrivals due to the pandemic while it is also a “high credit risk”, international ratings agency Moody’s said.
Annual earnings of Cyprus employees dropped from €24,530 in 2010 to €23,791 in 2018, an indication that pay has not yet recovered to pre-2012 levels when the banking collapse and financial crisis
Uncertainty looms over Cyprus’ economic future as it prepares to exit a prolonged crisis brought on by the pandemic with a less vibrant rebound from recession in 2021. The Central Bank of
PwC has issued a digital and green blueprint to restarting Cyprus’ battered economy following the coronavirus crisis and lockdown measures causing severe financial trauma. In a study entitled “Restart Cyprus: Now”, PricewaterhouseCoopers
The Cyprus Banks Association announced Thursday they would extend the freeze on foreclosures of primary homes introduced during the first COVID-19 lockdown. The freeze involves properties which are registered as the owner’s
Cyprus is joining the fifth-generation mobile network as its telecom providers go head-to-head at an auction for 5G broadband frequencies launched on Thursday after three postponements in as many months. The auction
Finance Minister Constantinos Petrides said the 2021 state budget will increase by €742 mln, or 10.6%, compared to last year, despite the coronavirus pandemic’s economic squeeze. Addressing the House plenary on Thursday,
Cyprus’ hospitality sector says it’s facing bankruptcy following the government’s decision to close restaurants, cafes, and bars in a bid to reduce the second wave of coronavirus. As of Friday, restaurants, pubs,
The Transport Ministry will spend €116 mln on development projects in 2021, up €25 mln from 2020, including the Cyprus museum, new roads, and the Nicosia orbital motorway. Briefing Parliament on Monday
