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
Labour unions rejected the mediation proposal by the Cyprus labour minister, aimed at avoiding an all-out conflict in the hotel sector, citing that the collective agreement should have a more solid legal
Germany wants to extradite an online scammer arrested in Cyprus on Thursday, involved in financial fraud worth €300 mln. A large-scale online investment scam was dismantled last week with the perpetrators allegedly
