Households emptying savings accounts 

Cypriot families find it impossible to squirrel away any savings as they grapple with hefty loan payments and sky-high interest rates as household deposits decline for a fourth month. According to the


November economic sentiment improves

The Economic Sentiment Indicator (ESI-CypERC) improved in November, compared to October, mainly due to strengthening business sentiment in the services and construction sectors, according to the University of Cyprus Economic Research Centre.


Turkey encroaches buffer zone again

An incident involving Turkish soldiers taking up a position in the UN-controlled buffer zone appears to be part of the broader approach by Ankara to challenge the status quo, said government spokesperson

Tourism revenue boosting economy

Highlighting the sector’s pivotal role in the economy, official forecasts predict an increase in tourism’s contribution to the GDP this year to 12.8%, up from 12.2% in 2022. Tourist arrivals for January


Cyprus-Qatar sign MoU in higher education

The Republic of Cyprus and Qatar signed a Memorandum of Understanding Monday in Doha for cooperation in higher education, scientific research, and technology. According to a presidential statement, the Memorandum of Understanding


233 illegal migrants repatriated

Some 233 people who resided illegally in Cyprus have departed the country within a week as part of Police efforts to deport third-country nationals to their countries of origin. Police said that in addition, ten people who