Transparency International Cyprus has welcomed the European Commission’s first EU Anti-Corruption Report, an in-depth assessment of all 28 member states’ strengths and weaknesses in curbing corruption. The report also includes an 8-page section dealing with issues that the Cypriot Government ought to address. “They are issues that the citizens and politicians have been made aware

The Association of Cyprus Banks discussed with Troika technocrats its concerns over the new classification of non – performing loans and the impact this may have on the financial results of banks. Senior Officer of the Association Michalis Kronides told CNA that the discussion revolved around the latest guidelines issued by the Central Bank of

Non performing loans by commercial banks and the co – operative sector inside and outside Cyprus stood at 25.24 billion euro by September 30th 2013, according to figures published by the Central Bank of Cyprus. The data also shows that non performing loans from local operations reached 24.1 billion euro. The Central Bank figures are

Unemployment in Cyprus reached a new record high in January 2014, with 52,783 unemployed people registered, compared to 50,467 in December 2013. According to the Statistical Service of the Republic of Cyprus, unemployed persons, registered at the District Labour Offices in January 2013 stood at 45,933. Based on the seasonally adjusted data that show the

What Cyprus financial sector needs to resolvc the problems is facing is an investment, Chairman of Cyprus National Economy Council, Nobel prize winner Christoforos Pissarides, has said. Pissarides, who was speaking to the Press after a meeting the National Economic Council held with the heads of the Troika delegation currently in Cyprus for the third

Housing loan rates in Cyprus continued on a downward trend in December 2013, reaching their lowest level since June 2010. Consumer loan rates also fell reaching their lowest level in the last five years, Central Bank data showed. On the other hand, business loan rates were up in December following a downward trend recorded since last

Cyprus Energy, Commerce, Industry and Tourism Minister Giorgos Lakkotrypis said that the interim solution for the arrival of natural gas for energy production is expected to be clarified by March, when the proposals will be submitted by the companies concerned. Speaking after a meeting with the President of the European Party (EVROKO), and asked about