Cyprus is looking into ways of expanding a relief scheme subsidising borrowers with toxic mortgages to cover borrowers who failed to make the first cut, as they were found unviable. Acting government
The cost of bricks jumped by a quarter last year, together with other construction materials, driven by the Covid-driven slowdown in global supplies, as well as the drop in crude prices that
The writing is on the wall – if Cyprus continues to put all its eggs in one basket and does not diversify its tourism product, it will face the same fate as
Although the government has announced financial support to buffer the effects of a second lockdown, there is a larger credit-negative economic effect for Cyprus banks as the pandemic endures. The lockdown measures
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
