The annual growth rate of a leading indicator used to predict the future direction of economic movements in Cyprus, continued to improve for the sixth consecutive month in November, as a result
Capital Intelligence has upgraded the Bank of Cyprus ratings on the back of improved earnings and strong liquidity, but warned that revenues continue to rely on interest from central bank placements. The
The ruling coalition partners and the main opposition Democratic Rally (DISY) approved the Christodoulides administration’s second budget, that foresees a 3.25% increase in expenses and 4.1% higher revenues. In all, 37 of
Thomas Kazakos, the Director General of the Cyprus Shipping Chamber for the past three decades, has been appointed to the prestigious position of Secretary General of the International Chamber of Shipping. Kazakos
Capital Intelligence Ratings has upgraded Hellenic Bank’s ratings, but revised the outlook from ‘positive’ to ‘stable’, based on a strong capitalisation, the ability to absorb future shocks and the synergies expected from
Moody’s has upgraded the Government of Cyprus long-term issuer and senior unsecured ratings by two notches from Baa2 to A3, returning to investment grade for the first time in 13 years. This
The cost of construction materials in Cyprus dipped marginally in October, despite an annual increase, while a standoff in the concrete market could see prices spiralling again. The statistical service said the
Cyprus has the second worst record in Europe as regards utilisation of renewables in the energy mix, with the main obstacles being the delay in importing natural gas for power generation and
Two in every five cars registered in Cyprus this year are either electric vehicles or hybrids, with these engine types showing a healthy increase, while the share of petrol-powered vehicles dipped below
The trade deficit for the first nine months of the year narrowed by about €1.2 bln due to a significant drop in imports, as well as a decrease in exports, according to
