The share of public debt held by non-residents in the EU last year was highest in Cyprus (76%), followed by Latvia (74%) and Lithuania (73%), according to Eurostat. In contrast, the largest proportion of debt held by the (resident) financial corporation sector was recorded in Denmark (72%), ahead of Sweden (70%) and Italy (65%). From the
More
The Cyprus Stock Exchange (CSE) is deeply “dissatisfied and disappointed” with the approach taken by the Energy Ministry which rejected its bid to act as the country’s electricity market operator. The CSE, in cooperation with the Hellenic Stock Exchange and the Athens Stock Exchange had submitted a comprehensive proposal to the Ministry of Energy offering
More
Cyprus expects to suffer a 20% reduction in the tourist flow from the key German market in 2019, following recent contacts in Berlin and Vienna, the Deputy Ministry of Tourism said. Deputy Tourism Minister Savvas Perdios held contacts with senior officials from the major travel agencies and airlines of the two countries. The contacts confirmed
More
Cypriot President Nicos Anastasiades welcomed the EU adopting his recommendation for targeted measures against Turkey for violating Cyprus’ EEZ. The European Council discussed Thursday the issue of illegal Turkish activities in the Exclusive Economic Zone (EEZ) of Cyprus, raised by Nicosia. "The President of the Republic expresses his utmost satisfaction with the current unanimous decision
More
. The Persian Gulf region is heading for a possible showdown, as US and Arab states are accusing Iran of starting a possible tanker war. The attack on two oil product tankers in the Gulf of Oman last week is not only putting the Persian/Arab Gulf region on edge, but already has resulted in an
More
Consumers in Cyprus pay the highest prices in Europe for milk, cheese and eggs that are 136% above the EU average, according to data released by Eurostat. In Cyprus the prices for food and non-alcoholic beverages stand at the 108% of the EU average, bread and cereals at 123%, meat at 89%, milk, cheese and
More
Cyprus is set to enjoy a novel shopping experience as work on the island’s first designer outlet and entertainment village is set to begin in September and completed by May 2020. Construction is pending the issuance of the license from the Town Planning Department. Designed on European outlet shopping villages, which are gaining popularity across
More
Turkey sent a second ship to search for oil and gas off Cyprus, in a move expected to escalate tensions after the EU called on Ankara to stop its "illegal drilling activities". The region is believed have rich natural gas deposits, triggering confrontation between Turkey and Cyprus, which also plans to ramp up its exploratory
More
Cyprus business leaders say the exorbitant cost of high airfares to closest EU destination Greece are unacceptable and claim for prices to reach EUR 690, there must be manipulation of the market. Higher fares are linked to the void left by the demise of low-cost Cypriot airline Cobalt, which was not filled by other carriers,
More
An Equity Fund should be established to address the difficulties small and medium sized enterprises (SMEs) encounter in obtaining financing, the Cyprus Economy and Competitiveness Council has proposed. The recommendation has been submitted to the Finance Ministry for assessment. The Council said the fund could be set up with government money but later attract resources
More