. One of the many ambitious targets set by the government to revive the economy was to offer incentives to the film industry to set up shop in Cyprus. This would either be done by registering production companies here or by offering business and financial services at attractive rates. But we have yet to hear
More
A deal has been signed for a satellite casino to be created at two locations within the terminal building at Larnaca airport. One casino will be situated in the departures area, accessible only to departing passengers, whilst the second will be in the arrivals lounge and accessible to the general public. The casino in departures
More
Finance Minister Harris Georgiades reassured the Fiscal Council on Friday that the government will remain focused on keeping state budgets balanced by avoiding deficits. Georgiades met with the council on Friday, in a meeting which was the first since President Anastasiades was re-elected and Georgiades reappointed as Minister in March. President of the council Demetris
More
Cyprus should experience robust GDP growth of 3.9% in 2018 and 3.3% next year, the University of Cyprus (UCY) economic research centre said Friday. The island enjoyed the best economic performance for a decade last year also with 3.9% GDP growth buoyed by a booming tourism sector. The main drivers of the outlook in 2018
More
Hellenic Bank is duty bound are to respect terms and conditions of any loans or bond obligations they acquire via the takeover of the Co-op, said a leading banking executive. The transfer of accounts and data from the Co-op to Hellenic is expected to be completed in September. Andreas Kostouris, spokesman for the Association of
More
Public debt in Cyprus recorded the biggest annual drop in the EU falling 11.3 points from 106% of GDP last year to 94.7% in Q1 2018, according to Eurostat. Government debt levels declined form €19.548 bln in Q1 2017 to €18.725 bln in Q4 2017 and €18.451 bln in Q1 2018, an -11.3 points annual
More
A price survey of supermarkets confirms what consumers already know, that people must shop around to find the best bargains. Nicosia showed the biggest difference in price range for the same trolley of goods with the dearest 17.60% more than the cheapest supermarket. The Consumer Protection Service of the Ministry of Commerce on Thursday listed
More
The pay gap between those working in the public and private sectors is set to grow with top civil servants earning up to €40 an hour. When many Cypriots scrape by on €5 an hour those in the public sector earn a lot more and many would perceive this unfair. Public sector employees will be
More
Extending the waiver of 20% capital- gains tax to all properties sold when proceeds are used to repay problem loans, and to properties sold or relinquished to credit-acquiring companies, will help banks claw back debt, said Moody’s. Until now, this tax break was applicable only to properties sold in debt-for-asset swaps with banks. “The benefit's
More
More than 11,450 people have signed an online petition demanding a ferry link be restored between Cyprus and Greece, but officials argue it’s a financial no-go. The petition is the initiative of a group of people suffering from aerophobia (fear of flying), with signatures being collected on the popular www.avaaz.org to exert pressure on Nicosia
More