The European Central Bank has launched its EU-wide banking stress tests for 2023, with baseline assumptions for Cyprus providing for 2.5% GDP growth, followed by 3.1% for 2024 and 2025. ECB supervisors
Larnaca-based TUS Airways announced a record number of passengers last year that spiked over 1,100% compared to 2021. It said that during 2022, the airline successfully operated over 600% more flights than
Cyprus remains the EU country with the highest stock of non-performing loans (assets) of the general government at 20.2% of GDP, according to Eurostat data. This was due to a large transaction
The endless parade of scandals and the short-term thinking during the Anastasiades administration have created the false impression that their policies have benefited the economy. To grow, do we need to sacrifice
Household debt reached €20 bln, equivalent to 77% of Gross Domestic Product in Q3 2022, marking a slight decrease compared to the previous quarter due to the increase in GDP, according to
Turkey is behind mass irregular migration to Cyprus, said Interior Minister Nicos Nouris during a review of his term in office. Nouris said that despite European efforts, there was no response on behalf
Three researchers at Cyprus universities are among 321 projects that will share €657 mln worth of grants from the European Research Council (ERC). The funding is part of the EU’s Horizon Europe
Some 92 Greek and Turkish Cypriot entrepreneurs have entered the Stelios Bicommunal Business Cooperation Awards 2023. There are 46 Bicommunal teams, consisting of one Greek Cypriot and one Turkish Cypriot entrepreneur, who
Cyprus Airways announced that after long negotiations, it secured permission and landing slots to operate up to three weekly flights to the United Arab Emirates’ most populous city, Dubai. Flights will operate
In a break with tradition, the UN Security Council has extended the UN Peacekeeping Force’s (UNFICYP) mandate for 12 months until January 31, 2024, instead of the usual six months. The resolution
