A cooperation protocol between Cyprus and Russia was signed Tuesday in Moscow at the end of the meeting of the Seventh Cyprus-Russia Intergovernmental Committee for Economic Cooperation. An official statement says the protocol provides for further strengthening relations in the two countries and reinforcing and developing cooperation in the fields of economy, commerce, tourism, transport,
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The EU`s Aviation Safety Agency (EASA) updated on Monday its guidance on the use of portable electronic devices on board (PED), including smartphones, tablets and e-readers, a press release of the EU Commission said. The updated guidance confirms that these devices may be used in non-transmitting mode, better known as "flight mode" (non-transmitting mode) throughout
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The Cyprus economy contracted at a slower pace than originally estimated between July – September of 2013, figures show. Third quarter gross domestic product (GDP) shrank by 5.3% in real terms over the corresponding quarter of 2012, an improvement on the original estimate of a 5.5% contraction. It is the ninth consecutive quarterly contraction for
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The average gender pay gap in the EU stands at 16%, according to the latest data published by the European Commission, on Monday. Cyprus is close to the European average with a 16.4% gender pay gap. According to a Commission press release the situation varies in other European countries, ranging from Estonia (27.3%) to Slovenia
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The Ministers of Finance of the Eurozone endorsed, in principle, the disbursement of the next tranche of financial assistance to Cyprus, worth €100 million. The formal decision will be taken on December 18 by the European Stability Mechanism. On December 20 the IMF Executive Board is scheduled to decide on the disbursement of €86 million.
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The use of mobile broadband connection in 2013 by Cypriot enterprises reached 56.2% compared to 49.0% in 2012, according to the results of the annual survey "Information and Communication Technologies Usage and E-Commerce in Enterprises 2013", announced Monday Cyprus` Statistical Service. With regard to e-Commerce, the percentage of enterprises that accepted orders remains stable at
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A significant drop in imports in the first nine months of 2013 resulted in a reduction of the trade deficit by €917.5 million compared to the same period of 2012, data published on Monday by the Cyprus Statistical Service show. According to the monthly report “Intra-Extra E.U Trade Statistics (Summarised Data)” for September 2013, total
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. By Christakis Christofides The controversial “haircut” of depositors’ funds held in Cyprus’s two largest banks, although unfair, at least compensated the fund-holders with Bank of Cyprus shares of equal face value to the sequestered amount. These shares have the chance of rising in value over the next years if the bank does well. By
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. Now that the centre-right Democratic Party has a new leader, it remains to be seen if the civil servant-dominated political group will change its mind on the privatisation of government services and utilities, or at least approach the matter with a more open mind. DIKO’s new president Nicolas Papadopoulos has masterfully avoided getting entangled
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* NPL definition is “foolish”, says BOCY CEO * Members of parliament are contemplating passing a bill whereby a first home would be exempt from foreclosure by banks, despite the lenders’ attempt to recover as much as they can from non-performing loans estimated to run into several billion euros. Even the central bank said it
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