The average gross monthly earnings of employees during the second quarter of 2014 amounted to €1,807, with males earning an average of €1,971 and females €1,624. According to the preliminary estimates of the Statistical Service, in comparison with the second quarter of 2013, a decrease of 3.9% was recorded in the average monthly earnings of

Cyprus farmers are expected to get about €4 mln in compensation from the €165 mln EU emergency fund for the withdrawal of 19,220 tonnes of citrus fruits, due to the Russian embargo, Agriculture, Natural Resources and Environment Minister Nicos Kouyialis. The total value of farm goods to Russia were estimated in the region of €13

By Fiona Mullen, Director, Sapienta Economics Ltd The ITE East Mediterranean Gas Conference in Paphos on September 9-10 underlined what a difficult job is faced by the energy minister, George Lakkotrypis, in making what is probably the single most important decision for the Cyprus economy in the next 20 years. I count at least seven

 * Demand high in forex, outlook “better” * With a rising trend in job placement advertisements, one would think that Cyprus has overcome its economic crisis and that unemployment levels were falling. However, that is far from reality with the national jobless rate stubbornly above the 15% threshold, but with some hope for optimism. The

A painting by Edgar Degas and other valuables worth a total 6.2 mln euros were stolen from a house on the outskirts of Limassol, police said on Tuesday.    The painting, one of the “Dancer” series of the 19th century French impressionist painter (similar to the photo), is estimated to be worth about 6 mln

The Economic Sentiment Indicator (ESI) for Cyprus fell slightly for a second consecutive month in September to 99.8 compared to 100.0 in August. The same trend, according to the European Commission, is recorded in the eurozone and the EU. In September, ESI decreased in both the euro area (by 0.7 points to 99.9) and the

The Cyprus economy is expected to record a flat growth rate of 0% next year, according to the Fiscal Council, which notes that the assumptions used by the Finance Ministry in drafting the 2015 state budget are “acceptable”. However, Council President Demetris Georgiades called on the Finance Ministry to be prepared to take the necessary

British Tornado fighter jets took off for the fifth time on Monday morning from the British Royal Air Force base in Akrotiri, in the southern coast of Cyprus, according to British media. Jets, armed with missiles, fly since Saturday morning over Iraq to identify possible jihadist targets, with no strikes having taken place yet. Pilots,

European Commissioner of Health Tonio Borg believes that the necessary reforms in the national health system (NHS) in Cyprus will be accomplished in a relatively short time, given the lessons learned from the country`s financial crisis. Speaking after a meeting with Cypriot Minister of Health Philippos Patsalis, he said “I can say that these reforms