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31. Can Cyprus withstand yet another crisis?

The recent Houthi attacks on commercial vessels navigating the Red Sea have triggered another disturbance in the intricate web of the global supply chain...

32. Dr. Anastasatos forecasts bright future for Cyprus economy

Eurobank group's chief economist, Dr Tasos Anastasatos, expresses optimism about the Cyprus economy, emphasizing that the decision to expand the group's banking presence in Cyprus is linked to these positive economic prospects....

33. Cyprus tax reform targets green initiatives and economic revitalization

By March 2024, the initial six phases of the tax transformation project commissioned by the Ministry of Finance to the Centre for Economic Research of the University of Cyprus will conclude,...

34. Finance Ministry undergoes administration overhaul

35. EY Cyprus redefines corporate reporting landscape at 3rd annual insights event

EY Cyprus organised its 3rd Annual Corporate Reporting Insights event titled ‘Connectivity: Reforming Corporate Reporting.’ ...

36. Cyprus gets BBB+ boost in latest ratings, but challenges persist

The German Scope Ratings have given a positive sign for Cyprus by upgrading the country to BBB+ last Friday from the previous BBB while keeping the outlook of the economy stable. ...

37. Cyprus banks bracing for profit squeeze according to Moody's

Moody's believes that Cyprus' small and saturated banking sector, the banks' limited loan portfolio, and low fee and commission income will restrict opportunities for growth in domestic banks' activities and profitability in the long term....

38. Cyprus banks secure Moody's upgrade to investment status

After 12 years, Moody's has upgraded the ratings of Cyprus' two major banks, Bank of Cyprus and Hellenic Bank, placing them in the investment category....

39. Real estate boom in Greece and Cyprus

The real estate landscapes of Greece and Cyprus are undergoing significant transformations, with both nations showcasing promising growth and recovery. However, beneath the surface of these top-line numbers, there are underlying challenges and disparities that need to be addressed....

40. Focus on growth, employment control, and surplus in the 2024 budget

The 2024 state budget to be tabled to the Council of Ministers for approval next week will have three key characteristics, Minister of Finance Makis Keravnos told CNA....

41. CEO confidence in artificial intelligence tempered by social, ethical and security risks

CEOs globally are embracing opportunities created by AI, but also remain wary of unknown, unintended consequences, according to the findings of the latest EY CEO Outlook Pulse survey. ...

42. Frontex predicts increased migration from Turkey

Cyprus and Greece are likely to face “increased migration activity’’ from Turkey in the period 2023/2024, EU border agency Frontex says in a risk analysis, published on Monday....

43. Money blues: Why's the economy going South?

"Currency developments validate predictions made some time ago. The high interest rate environment will be a new reality accompanying us for several years," former Minister of Finance Constantinos Petrides stated in a post on the platform 'X'....

44. Strongest work-from-home rights for Australians

Before COVID-19 sent one-third of the global workforce home, the Melbourne property surveyor that employs drone operator Nicholas Coomber called its 180-strong staff into the office every day at 9 a.m. to hand out assignments....

45. ECB dilemma with core inflation at 5.5%

The European Central Bank (ECB) is almost certain to raise interest rates by 25 basis points in its meeting tomorrow, though what happens next is unclear....

46. Loan demand in Cyprus falls, interest rates rise

The Cypriot banking institutions are holding a small basket for demand in new loans....

47. European stocks rally on hope of interest rate peak

Eurozone inflation fell more than expected to 5.5 percent in June, its lowest rate since the start of last year, but a slight rebound in core consumer price growth tempered any relief for policymakers....

48. Christodoulides' pledge to safeguard Cyprus' reputation

President of the Republic Nikos Christodoulides has stressed that the government will not allow a very small minority of people in the country to tarnish Cyprus' reputation, which was built after many years of effort....

49. IMF says Cyprus untouched by war fallout

The economy of Cyprus is expected to slow to around 2.5% in 2023, reflecting an erosion in household incomes, tighter financial conditions, and delayed impacts from sanctions against Russia, International Monetary Fund forecasts, after the conclusion of the Article IV consultation with Cyprus...

50. Central Bank governor projects higher economic growth for 2023

On Tuesday, Constantinos Herodotou, the Governor of the Central Bank of Cyprus, announced that the Cypriot economy is projected to grow in 2023 at a higher rate than the Eurozone average. ...

51. CBC estimates GDP growth at 2.6% in 2023

The Central Bank of Cyprus (CBC) has marginally upgraded its projections for GDP growth this year citing the slightly improved prospects in the external economic environment and the anticipated lower energy prices, amid the continued war in Ukraine....

52. Akamas compensation guidelines poses risks, says Finance Minister

"The guidelines for compensating landowners in Akamas for the loss of land value they have incurred and providing assistance to the neighborhood are speculative and ill-defined....

53. EY presents report on the Future of Banking in Cyprus

The report showcases the importance and contribution of Cypriot banks to the wider economy and society, and identifies current and upcoming challenges and opportunities...

54. Banks are revising lending rates

Cypriot banks are preparing new loan rates in an effort to redesign the pricing of loans. In the first half of 2023, Cypriot banks will see significant changes in the pricing of new loans, accompanied by increases in interest rates, ...

55. PWC survey: Seven out of ten CEOs are pessimistic about 2023

According to the 26th Annual Global CEO Survey conducted by PwC between October and November 2022, nearly three-quarters (73%) of respondents expect global economic growth to slow over the next 12 months....

56. Finance Ministry: 'Cyprus economy will not enter a recession'

There will be a significant slowdown in economic activity next year, we will be affected by increased energy prices and borrowing costs, but "inflation in Cyprus is being reined in at lower levels" compared to other European member states, ...

57. ECB raises interest rates by 0.5%

Christine Lagarde warned markets not to expect an early end to rate rises next year, on a day when the European Central Bank and the Bank of England lifted borrowing costs to their highest levels in 14 years....

58. Cypriot parliament approves state budget

The House of Representatives plenary approved the 2023 state budget on Thursday evening, the last to be tabled by the 10-year administration of Nicos Anastasiades...

59. Nicosia stays course as economic growth loses steam

Cypriot public finances have improved due to increased growth, although they are expected to be adversely affected due to a projected slowdown in the next few months, according to the 13th Post-Programme Surveillance Report for Cyprus...

60. Cyprus gets taste of EU’s €85 million with a caveat

Cyprus will get Friday the first tranche of €85 million from the EU's Recovery and Resilience Mechanism, with European Commission technocrats also pointing to repeated suspensions of foreclosures in Cyprus that create problems in terms of achieving the goal of further reduction of NPLs...