Recession is expected to ease in Cyprus in 2014 and growth is set to return in 2015 as domestic demand recovers, according to the European Commission`s winter 2014 forecast released on Tuesday. Following a better than expected performance last year, the fiscal situation is set to improve further this year and next, it is noted.
More
More Cypriots live in poverty today than in the period November 2013 to January 2014, according to the Commissioner for Volunteering Yiannis Yiannaki, who said that 13,000 families are supported by charity organizations. “We are talking about 45,000 persons who receive assistance from volunteer organizations in order to make ends meet. This includes some 13,000
More
The European Commission revised for the better the forecast of November 2013 regarding the recovery rate, while Commission Vice-President for Economic and Monetary Affairs and the Euro Olli Rehn appeared satisfied with the developments, noting however that growth was still fragile. The European Commission`s winter forecast foresees a continuation of the economic recovery in most
More
Art lovers will have the opportunity to enjoy a unique collection of works of art from Cyprus, Greece and Europe, as of March 23, when the doors of Anastasios Leventis Gallery, in Nicosia, officially open to the public. The gallery is housed in a modern 4,500 sqm² environment friendly building in Leonidou street, in the
More
The outlook for Egypt's banking system is negative, unchanged since 2011, Moody's Investors Service said in a new report, despite recent steps towards political stabilisation. The rating agency said that the outlook reflects continuing political and social tensions and the government's strained finances, which continue to undermine investor and consumer confidence. Furthermore, the banks' high
More
The volatile situation in the Ukraine is affecting tourist arrivals in Cyprus, according to the Cyprus Tourism Organisation (CTO), which nonetheless hopes to make up for the loss of revenue with tourist arrivals from Russia. CTO Director General Marios Channides told today CNA that in the past few years tourism from Ukraine has increased. Specifically
More
Cyprus and Norway have signed an Agreement on the Avoidance of Double Taxation and the Prevention of Tax Evasion, concerning Income Taxes, as well as a relevant Protocol. The Agreement was signed on Monday at the Ministry of Finance in Nicosia between Minister of Finance Harris Georgiades and Norwegian Ambassador to Cyprus Sjur Larsen. In
More
The financing of Cyprus` economy by the Troika of international lenders is the only option available at the moment and the non approval of a bill for the privatisation of semi-governmental organisations or even the adoption of a significantly amended bill may jeopardise and possibly halt the financing of the Republic of Cyprus, Minister of
More
Electricity Authority of Cyprus (EAC) and Cyprus Telecommunications Authority (Cyta) staff are on strike on Tuesday while MPs continue to discuss a privatization of semi-governmental organisations Bill. EAC employees will be going on strike again on Tuesday, after an initial 12 hour strike on February 17 and a limited strike (office personnel only) on Monday.
More
Action Global Communications moves full steam ahead with exciting new expansion plans in Russia planned for the second quarter of 2014, as it fast becomes the very first public relations company to launch a network spanning across the entire Russian territory. Action Russia was founded in 2002, having quickly established itself as a leading independent
More