For the government of Cyprus the relations with Russia “were and remain of strategic importance”, Finance Minister Harris Georgiades said in his address to the business forum on “Russia and Cyprus: Lessons from the crisis and prospects for cooperation” in Moscow.   In his speech, Georgiades said that conditions of stability have been established in

Deposits in the Cyprus banking system dropped by €95.5 mln in March to €45.7 bln, according to Central Bank of Cyprus data.   In February, deposits increased by €78.4 mln, while on an annual basis, deposits in March rose by 2.0% year-on-year compared to an increase of 1.9% in February. Meanwhile, total loans in March

Cyprus issued 13-week Treasury bills amounting to €100 mln with the average yield rising to 0.84%, compared to 0.58% in the February 29 auction, according to the Public Debt Management Office of the Ministry of Finance. The PDMO said that it received bids worth €116 mln and accepted tenders of €100 mln. The accepted yields

Cyprus ranks second among EU member states, behind Lithuania, with just over half its 30-to-34 age group having attained university education, and far exceeding the ‘Europe 2020’strategy target of 40%.   In Cyprus, 54.6% of this age group had university education, according to the Eurostat survey for 2015, with Lithuania in the lead with 57.6%

The economic climate improved in April, the Economics Research Centre of the University of Cyprus said on Monday. The Economic Sentiment Indicator was by 2.1 points in April, compared with March, the Centre said in its monthly survey. “This increase is due to an improvement in the economic climate in all sectors except for services,

The Public Debt Management Office at the Ministry of Finance announced that the fifth series of the 6-year retail bonds (May) attracted a total of 17,457,800 euros, far above the monthly target of 10 mln. Of the 46 bidders, 39 were from local investors, while the seven foreign applicants accounted for 15.8 mln euros, corresponding

Fitch Ratings upgraded the Bank of Cyprus Long-Term Issuer Default Rating (IDR) to ‘B-’ from ‘CCC’ on Monday and Hellenic Bank’s Long-Term IDR to ‘B’ from ‘B-’.   The rating agency said the outlook for the two banks’ Long-Term IDRs is ‘stable’. “These rating actions reflect Fitch’s expectation that some improvement in the economic environment

 * Concession agreements signed with Eurogate and DP World * A new era begins for Limassol Port with the arrival of leading international operators that will boost revenues for the Republic of Cyprus by 1.9 billion euros throughout the duration of the concessions, Transport Minister Marios Demetriades said during the signing of concession agreements with