Promises, promises… Can Cyprus bring youth unemployment down from 44%? A new plan to try and combat record youth unemployment at 44% will be introduced in December, probably the sixth in as many months, with President Nicos Anastasiades telling his counterparts in Paris that the new measures will be proactive in an effort to identify
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Although Cyprus has improved its digital performance, it still lags behind and moves at a much slower pace than other EU member states, Communications and Works Minister Tasos Mitsopoulos has said. In order to achieve the broader goal to restructure the economy and create jobs the government has set six strategic objectives in its digital
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Hellenic Bank’s five day rally last week was cut short as the stock fell on Monday and Tuesday, wiping out the gains of the past few days and dragging the Cyprus Stock Exchange Index down with it. HB, that peaked above 11c last week, following the mammoth investment deal that recapitalised the bank by more
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The Finance Minister will select one of the big four international audit firms to carry out a fair value assessment of the Cooperative Institutions, one of the conditions of the €1.5 bln injection provided by the Troika of international lenders to cover the estimated capital shortfall, with the state acquired 99% of the Coops share
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Cyprus has achieved ‘very good progress’ as regards the implementation of the rescue plan agreed with its international lenders, a Eurozone official said in Brussels on Tuesday, adding that the Troika assessment on the Cyprus programme shows that ‘very good progress’ has been achieved in the fiscal sector, while significant progress was recorded in efforts
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The only ray of hope in the economy is a rise in exports in the first eight months of the year, which, coupled with a drop in imports, has helped reduce the trade deficit from 2.93 bln euros to 2.07 bln by the end of August. The Statistical Service said that total imports/arrivals in January-August
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The outlook for the UAE's banking system has been changed to stable from negative, Moody's Investors Service said in a new report. The outlook change reflects the continued improvements in the operating environment, as well as the ongoing recovery of the local real-estate market, which Moody's believes will lead to a decline in problem loan
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Emerging Asian currencies took a battering and regional shares tumbled to six-week lows on Wednesday as mixed signals from Federal Reserve officials raised fresh concerns about an imminent rollback of the U.S. central bank's asset-buying stimulus. The dour mood looked set to carry over into Europe, where financial spreadbetters predicted Britain's FTSE 100 to fall
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Some forecasts on the Cypriot economy by Credit Rating Agencies would be disproved much earlier, Finance Minister Charis Georgiades said Tuesday commenting on Fitch Ratings` gloomy forecasts for the Cypriot economy. Minister stressed also the need to “remain serious and committed “to the effort to restore trust and credibility to the Cypriot economy. Speaking to
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A package deal comprising the 2014 EU budget and the financing of EUR 400.5 million to remediate flood and drought damages in four member states was agreed today by the Council and the European Parliament at a meeting of the Conciliation Committee. The agreement on the 2014 EU budget, which is the first under the
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