Cyprus lagging in research spending

According to Eurostat, Cyprus spends far less on research and development than most other European Union countries, as just 0.85% of the Gross Domestic Product (GDP) or €184.8 mln, went into research

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Cyprus wary of harsher Russia sanctions

Cyprus is expected to join Hungary and Malta in opposing tougher European Union sanctions on Russia over its invasion of Ukraine, reported the Financial Times. The bloc has already issued seven sanction

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Cyprus joins EU strong innovators

Cyprus’ technology performance continues to improve after being promoted to the group of “strong innovators” on the 2022 European Innovation Scoreboard, prepared by the EU Commission. With a performance of 106.9% of

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Hourly labour cost rises over 5%

The hourly labour costs (total cost) rose by an annual 5.2% in the second quarter of 2022, according to provisional data by the Statistical Service of Cyprus. The two main components of

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Minimum wage ‘better than it looks’

The government has defended criticism from unions over the national minimum wage, arguing that €940 a month is among the highest in the EU, offering low earners more purchasing power than their

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