The government expects an abrupt slowdown of the GDP growth to 3% from 3.7% in 2009 due to the financial crisis. Speaking after the submission of the State Budget 2009 to Parliament, Finance...
The political parties welcomed the Finance Ministry’s decision to increase the guarantee of the bank deposits. DISY Deputy President, Averof Neophytou stated that this move shows that the state is...
Within the framework of a press conference in the presence of MP, Nicos Katsourides, MP Stavros Evagorou said that after the Central Bank’ announcement, which ensured that no bank faces problems in...
The international credit crunch becomes bigger and bigger, despite the approval of the bailout plan by the US House of Representatives on Friday. The strong majority (263-171) was not enough to...
The government’s efforts to attract Chinese businessmen in Cyprus have mounted. Therefore, a delegation of Chinese entrepreneurs accompanied by the Chinese Ambassador to Cyprus, Zhao Yali, had a...
The government supports that it has €2 billion at its disposal to strengthen the banking system if financial conditions deteriorate. According to Finance Minister, Charilaos Stavrakis, this sum has...
During its last meeting, SEK examined a number of pending issues and urged the government to find the proper solutions. The trade union urged the Labour Ministry to hasten the deliberations for the...
The Cyprus Tourism Organization prepared an action plan against the crisis in the banking sector. The plan will be submitted to its Board of Directors on September 30 and will be presented to...
Finance Minister, Charilaos Stavrakis stated on Friday that property prices will go through a phase of correction, boosting beliefs that the sector is simply facing a crisis. “Normally, property...
DISY Vice President, Averof Neophytou referred once again to Central Bank’s gold stocks. In a written statement, Mr. Neophytou said that the injections by the regulatory authorities for the...