Inflation slowed down in May, according to data released by the Statistical Service Cystat, with the Harmonised Consumer Prices Index up by 0.9% on an annual basis compared to May 2016, while in comparison to the previous month it was up a mere 0.1%. In April the annual increase of harmonised inflation was 2.1%.
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Rating agency warns NPLs and debt still “very high” DBRS Ratings Limited (DBRS) has upgraded the Republic of Cyprus’s long-term foreign and local currency issuer ratings from B to BB (low) and changed the trend from Positive to Stable. DBRS also confirmed the short-term foreign and local currency issuer ratings at R-4 and maintained the
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As iconic as a fashion item, red is representative of Italy’s leading brands, from clothes to cars, and an ambassador of Italian style in the world. This is Masi’s Campofiorin, which with the 2014 vintage, now out on the market, celebrates its fiftieth anniversary with a special, limited edition label. The prototype for an innovative
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Jamie’s Italian in Nicosia is constantly enriching its menu with fresh ideas and new choices to suit the seasons. Starting from Spring and leading to Summer, the new menu, inspired by Jamie Oliver and his friend and mentor Gennaro Contaldo, includes a choice of starters, namely the ‘Ultimate Plank’ with a big selection of cold
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. By Michalis Sarris and Yiannis Kitromilides The result of the UK referendum in June 2016 on continued EU membership and the election of Emmanuel Macron as President of France in May this year, are two significant recent events that are providing renewed impetus and urgency to the debate about the future of
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. A lot has been said in recent days about the allegedly biased attitude of senior UN officials, with mediators blamed time and again for tolerating Turkey’s bullying. But with so much going for Cyprus, what with the economy “recovering” after the 2013 meltdown and certain sturdy sectors, such as shipping, it is strange
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. The Stagnation of Banking Conventionalism By Renos Ioannides Financial Analyst There is a well-known axiom in the financial world which stipulates that no banking system, and as a matter of fact, no economy, can survive with non-performing loan (NPL) figures over 50%, as is the case in Cyprus; yes, they are stubbornly well over
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* Down from EUR50 mln in 1Q2016 * Bank of Cyprus Holdings, listed on the London Stock Exchange earlier this year as it continued on its recovery path, reported a net profit of EUR 2 mln in the first quarter of the year, down from 50 mln in the same quarter last year. However,
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* UCy maintains growth at 3.1%, better than in 2016 * Economic sentiment increased in May as the Economic Sentiment Indicator of the University of Cyprus Economics Research Centre (ESI-CypERC) rose by 2.3 points compared with April. The increase was driven by confidence improvements in services, retail trade and among consumers, the research centre said.
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Across Cyprus, residential prices for both houses and flats increased on a quarterly basis by 1.7% and 0.7%, respectively, in the fourth quarter of 2016, with the biggest increase being in Larnaca, 3.3% for flats and Limassol 1.8% for houses. According to the 29th RICS Cyprus Property Price Index, values for holiday homes on
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