Cyprus tourism revenue falls 14.8% in July

Revenue from tourism in Cyprus reached EUR 232.5 mln in July 2009 compared with EUR 272.9 mln in the corresponding month of the previous year, according to the Passenger Survey conducted by

Roubini warns of double-dip recession: report

Nouriel Roubini, one of the few economists who accurately predicted the magnitude of the world's recent financial troubles, sees a "big risk" of a double-dip recession, according to an opinion piece posted

Cyprus tourism arrivals drop 11.2% in July

Tourism arrivals fell for the eighth consecutive month in July, as arrivals of tourists fell by 11.2% over the year earlier to reach 304,126, compared with 342,554 in July 2008. The largest

Bank of Cyprus closing UK branches

 — Clients to be serviced by Lloyds TSB — Bank of Cyprus is winding down its retail operations in the UK, having already reduced the number of its traditional branches from eight

Société Générale to stay in Cyprus

 — Ownership change will not affect operations — Société Générale Cyprus (SGC) will continue to operate as usual under its present management and structure, remaining under the operational control of Soc Gen

Cyprus is officially in recession

Cyprus officially recorded a recession in April-June, as GDP contracted over the previous period for the second quarter in a row. According to the latest “flash” estimate from the Statistical Service, real