MARKET TRENDS

EBRD projects stronger growth for Cyprus

The European Bank for Reconstruction and Development (EBRD) has upgraded its growth forecast for 2017 and 2018, by 1% and 0.3% respectively, for the Cypriot economy, with concerns however regarding th [...]

BY Elena Economou
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Nov 09 2017

Unions stand by strike threat over future of EAC

Unions at the state power company EAC on Monday appeared still poised to go through with an announced two-hour strike for later this week, amid fresh pleas from the government to put off the industria [...]

MARKET TRENDS
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BY Elena Economou
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Nov 07 2017

Parliament approves VAT on building land bill

Parliament on Friday approved a bill imposing 19 per cent VAT on the sale of building land, fulfilling an EU condition some 10 years after the original deadline. The bill passed with the votes of 26 M [...]

MARKET TRENDS
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BY Elena Economou
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Nov 04 2017

FinMin: Funds choose Cyprus

Cyprus is gaining recognition as an attractive fund domicile with a potential for further significant growth, says Monday Minister of Finance Harris Georgiades, addressing the 3rd International Funds [...]

MARKET TRENDS
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BY Elena Economou
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Oct 31 2017

Lebanon wants stronger economic and trade cooperation with Cyprus

S Lebanese Prime Minister Saad Hariri, who met President Nicos Anastasiades late Saturday, said he would like to see stronger economic and trade cooperation, noting that Beirut values its relations wi [...]

MARKET TRENDS
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BY Elena Economou
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Oct 29 2017

Cooperative Bank explores more radical solutions to reduce NPLs, CEO says

The Cooperative Cyprus Bank (CCB) is exploring “more radical solutions” in a bid to achieve a swifter reduction of the non-performing loans (NPLs) weighing on its balance sheet, the CCB’s Chief [...]

MARKET TRENDS
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BY Elena Economou
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Oct 23 2017

Police warn Cyta subscribers of scam

Police are urging the public not to answer missed calls to their mobiles made from unknown overseas numbers. Since Wednesday noon, some 350,000 such calls were placed to Cyprus Telecommunications Auth [...]

MARKET TRENDS
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BY Elena Economou
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Oct 20 2017

The tallest building in Nicosia is under construction

The tallest building in Nicosia, the “360”, will be erected on Makarious Avenue, giving new impetus to the capital city with a cost of €80 million. The creators of the project are focusing on it [...]

MARKET TRENDS
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BY Elena Economou
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Oct 19 2017

Passport investment scheme a ‘useful tool’ to boost economy

The government does not directly receive any cash from the citizenship-through-investment scheme, the finance minister said on Monday. “The state does not collect a single euro. The benefit is an in [...]

MARKET TRENDS
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BY Elena Economou
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Oct 17 2017

House prices up 3.6% in Q2, Cystat says

The Cyprus division of the Royal Institute of Chartered Surveyors (RICS) said that in August that house and flat prices rose a quarterly 2.3 per cent and 1.3 per cent in January to March.