The European Central Bank decided on Thursday to cut interest rates by 75 base points to 2.50%. This move – probably the most aggressive in the past 10 years – follows similar moves of the Bank of...
In an announcement released recently, IACA referred once again to the sharp increase in airport duties in Cyprus. The Association stressed that one of the reasons that the tourist industry becomes...
04/12/2008
According to Eurostat revised forecasts, compared with the third quarter of 2007, seasonally adjusted GDP rose by 0.6% in the euro area and by 0.8% in the EU27, after +1.4% and +1.7% respectively for...
04/12/2008
According to CYSTAT data released on Thursday, inflation in November 2008 fell to 3.43%, the lowest since October 2007. This is due to the fuel prices and the significant contribution of the...
04/12/2008
The Cypriot businesses operate with lower margin of profits in 2008 to maintain their turnover. The results of the blue chips have already reflected the repercussions of the global credit crisis and...
04/12/2008
The major issues in today’s financial press are the competition in loans and deposits between the Cooperatives and the banks, the Council of Ministers’ decision to allocate extraordinary benefits to...
04/12/2008
The Cyprus Telecommunications Authority and the Syrian Telecommunications Establisment (STE) signed a number of bilateral agreements. As the CNA reports, the two parties signed an agreement for the...
03/12/2008
The Cooperatives and Hellenic Bank have been pressured strongly by the competition in loans and deposits in the past year. The share of the 130 Coops that are active on the island has shrunk by four...
03/12/2008
According to Eurostat data released on Wednesday, the volume of retail trade in Cyprus in August 2008 grew by 5.8% against 9.6% in July. This increase is the second highest in Europe. The highest...
03/12/2008
Analysts expect that the European Central Bank will proceed with a fresh cut of its intervention rate by at least 50 base points tomorrow. The positive figures for the course of the euro area...
03/12/2008