Cyprus has yet again failed to improve its position in another economic competitiveness report compiled by an international body while offering no national blueprint to rectify the situation. Following its poor performance on a digital competitiveness report earlier this month, ranking 54 from 63 economies just one spot above the Philippines, Cyprus has failed to
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Cyprus’ six MEPs have pulled together in an effort extend the freeze on a 2004 EU recommendation that would allow direct trade between the bloc and Turkish Cypriots in the north of the divided island. The pending matter was brought before a newly elected European Parliament committee to decide whether the matter should be put
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. One can only wonder how the government machine works in Cyprus when everything comes to a halt caused by a multitude of strikes (state doctors, ports, electricity authority), most of the time over pay without discussing productivity issues and our depreciating competitiveness. But the question is also a rhetorical one, addressed to the
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Hoteliers are fuming over having to jump obstacles created by state bureaucracy and legislators while trying to recover from the multi-million loss caused by the collapse of tour giant Thomas Cook. A revised version of the draft law regulating the licensing of short-term rentals through online Airbnb-type platforms has prompted a strong reaction from
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Melco is backing Celine Dion’s first ever Cyprus concert as the event’s main sponsor as it commits to bringing world-class entertainment to the region. The award-winning French-Canadian singer’s “Celine Dion Courage World Tour, Cyprus, presented by Melco Resorts and Entertainment” will take place at GSP Stadium, Nicosia on 2 August 2020. Craig Ballantyne of Cyprus
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A change in pay policy for local bank staff is unavoidable and management needs to engage with the unions on this issue, new Bank of Cyprus CEO Panicos Nicolaou argues. “The banks will need to move fast in engaging with the unions to promote a fair remuneration system based on productivity and job description,” Nicolaou
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Tens of thousands of euros have been spent on 6 water fountains and 38 benches — supposedly resembling raindrops but look like torpedoes — being installed in Nicosia’s new Eleftheria Square. Public opinion is divided on whether the strangely-shaped benches serve their purpose or are simply a distraction. They were ordered from a factory in
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Cyprus tourist arrivals, boosted by Russian and Israeli holidaymakers, hit a new record high for September with 524,707 visitors, improving 0.9% on the previous year. It was the highest volume of tourist arrivals ever recorded in Cyprus for that month, despite the collapse of Thomas Cook, official data shows. For the first nine months to
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By Han Tan, Market Analyst at FXTM Most Asian stocks were lower early Friday, after China’s Q3 GDP came in slightly below market expectations at 6%. September industrial production growth far exceeded market forecasts at 5.8%, while retail sales posted a year-on-year increase of 7.8%, in line with market expectations. China’s GDP figures should come
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A Cypriot anti-corruption MP took to social media calling out the government over allegations that allies of Cambodia’s ruler obtained Cyprus EU passports for cash under a maligned investment scheme. Opposition communist AKEL MP Irene Charalambides urged for clarification after disclosures that relatives and associates of Cambodia’s long-ruling prime minister, Hun Sen acquired Cypriot passports.
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