SATURDAY, 23 OCT 2021

 

CONNECT

Facebook Linked In Twitter
October_issue_leaderboard
GloriaJeans_266x90px
IMH LTD

P5 Must Deal With Ankara’s Discredit Of The UNSC Decisions, Says FM

Attorney General Discusses Cancelled Cyprus Investment Programme With Reynders

IMH LTD

ECONOMY

Rating-Agentur Expert RA GmbH Confirms Cyprus Ratings at ‘BB+’

Rating-Agentur Expert RA GmbH Confirms Cyprus Ratings at ‘BB+’

Rating-Agentur Expert RA GmbH confirmed the sovereign government credit rating (SGC) of Cyprus at ‘BB+’ (Sufficient level of creditworthiness of the government) in national currency and at ‘BB+’ (Sufficient level of creditworthiness of the government) in foreign currency.

Rating-Agentur Expert RA GmbH confirmed the country credit environment rating (CCE) of Cyprus at ‘BB+’ (Sufficient quality of credit environment of the country) in national currency and at ‘BB+’ (Sufficient quality of credit environment of the country) in foreign currency.


MAJOR FACTORS THAT INFLUENCED BOTH TYPES OF RATINGS:

Positive factors:
The debt structure improved further in 2017. Short-term debt amounted to 1% of GDP and 2,7% of budget revenues and represented only 1% of the total debt as of end-2017. Additionally, only 4% is issued in foreign currencies and 64% is in the form of official loans. However, the floating interest rate debt is slightly high and accounted for 46% of the total debt load by the end of 2017;
 
The fiscal stance improved in 2017 posting a surplus of 1,5% of GDP according to the Ministry of Finance. This surplus is mostly driven by an increase in tax collection and social security contributions, while on the expenditure side the subsidies declined. We expect further improvement of the fiscal stance driven by strong economic growth as well as the government’s commitment to a tight fiscal policy;
 
The country’s macro profile is encouraging as GDP per capita at PPP is projected to have remained solid at USD 36 600 and real GDP continued to grow by a robust 3,8% as of year- end 2017 (2,8% in 2016). The positive output dynamics remained driven by tourism, retail, construction and manufacturing;
 
High level of institutional development as Cyprus ranked 53rd out of 190 countries in the Doing Business ranking (45th in the previous report). Additionally, it has a very high Human Development Index (adjusted for inequality) at 0,762;
 
According to the World Bank’s Worldwide Governance Indicators, Cyprus is ranked 75th out of 214 territories in the Rule of Law Index which indicates a moderately strong confidence in contract enforcement, property rights, the police and the courts;
 
Net inflows of FDI in Cyprus amounted to 25% of GDP as of 2016 which is much higher compared to its peer countries1 (2,4% on average in 2016).
 
Restricting factors:
 
We expect private credit to GDP to have dropped further in 2017 to around 240% of GDP, compared to 266% by end-2016. All loan segments, including households, corporates and financial institutions followed a downward trend. Also, the banks’ assets to GDP ratio was estimated at around 360% in 2017 compared to 376% in 2016, but still remains the highest among its euro peers;
 
The unemployment rate continued to decline and reached 11% as of end-2017 remaining below its peers’ average. We expect this figure to continue its gradual decline driven by economic growth, particularly by the increase in private consumption;
 
Government guarantees stood at around 9,1% of GDP as of end-2016 compared to 15,4%
in 2015, which slightly reduced the risks associated to contingent liabilities;
 
The annual y-o-y inflation turned to negative ground in 2017 and stood at -0,4%. In line with the IMF, we still expect inflation to turn to positive territory over 2018 mostly driven by increases in prices of commodities, food, transportation and the tourism sector;
 
The Cypriot economy remains diversified but still highly focused in the services sector. As of 2017, the industry distribution in the three largest sectors was as follows: retail (21%), financial (10%) and real estate (9%);
 
The economy is moderately competitive. Cyprus is ranked 64th out of 137 countries in the Global Competitiveness Index report (2017-2018) prepared by the World Economic Forum (83rd in the previous ranking). Moreover, the trade balance widened to -2% of GDP in 2017 compared to -0,8 in 2016;
 
Despite  government  efforts  to  continue  with  the  privatization  program,  the  overall process remains delayed, shown by the recent parliament initiative to pass the law for scrapping the privatization unit within the Ministry of Finance. However, the government is still determined to go forward with privatization plans in order to further reduce the debt burden.
 
Negative factors:
 
The government debt level improved better than we anticipated in our previous revision.
As of end-2017, it stood at around EUR 18,7 bn, the lowest level since 2014. Additionally, supported by a robust GDP growth of 3,8% in 2017, the debt to GDP ratio declined to around 100% as of end-2017 compared to 106% in 2Q 2017 and still stands below the average level of debt among its euro peer countries. Even though we expect a continued decline of this metric in the following years boosted by GDP growth and fiscal surpluses, the still high level of government indebtedness remains a key negative factor;
 
The banking system continued its recovery through 2017. NPLs declined further as a share of total loans and stood at 43,7% as of November 2017 compared to 47% by end-2016, but remain substantially high. The profitability worsened as compared to 2016, with ROA standing at -1,3% by September 2017. Nevertheless, the banking sector is still well capitalized with capital to assets ratio at 9% and overall solvency ratio at 16,2% as reported by the Central Bank of Cyprus as of September 2017;
 
FX reserves continued to decline in absolute terms and stood at around 3,3% of gross government debt as of December 2017 and covered only half a month of imports in December 2016. Nonetheless, we do not expect this to affect the economy in case of a currency shock since most of their trade is done within the EU;
 
The stock market remains underdeveloped with 80 listed companies as of December 2017 (74 in January 2017). Furthermore, market capitalization stood at EUR 2,3bn (12,5% of GDP).
 
 
Support factors:
 
Participation in a strong currency and political union. Cyprus is part of the European
Economic and Monetary Union (EMU) since 2004 (moderately strong support factor);
 
The country has a very strong and important reserve currency (EUR) (moderately weak support factor).
 
Stress factors:
 
Dependence on partner-countries for provision of financial support in crisis situations has decreased since Cyprus left the three-year economic adjustment program European Stability Mechanism (ESM) and the International Monetary Fund (IMF) last year (weak stress factor).
 
 
ADDITIONAL FACTORS THAT INFLUENCED CCE RATINGS:
 
Positive factors:
Narrow spread between interest rates on loans and deposits at 2,8% as of December 2017 (3,12% in 2016 and 3,52% in 2015).
 
Restricting factors:
 
The Cyprus Stock Exchange General Index (CYSMMAPA) was stable in 2017 starting the year at 68,4 points in January and standing at 69,5 points as of December 2017.
 
Negative factors:
 
Marginal  quality  and  quantity  of  instruments  offered  in  the  financial  market  of  the country;
 
Private sector debt (domestic and external), despite declining over the years, remains extremely high at around 706% of GDP in 3Q 2017 (734,5% in 2016).
 
SENSITIVITY ASSESSMENT:
 
The following developments could lead to an upgrade:
 
Further improvement of the debt metrics driven by fiscal surpluses and solid GDP growth with declining unemployment and consolidation of the current account;
 
Reduction of NPLs ratio and further decline of private and external debt metrics. The following developments could lead to a downgrade:
GDP growth lower than anticipated which will result in higher debt levels and widening the current account deficit;
 
A  rebound  trend  of  NPLs  dynamics  followed  by  deterioration  of  the  banking  sector metrics.

 

“The Agency’s confirmation of the ratings of Cyprus at BB+ reflects better than anticipated GDP growth, a positive fiscal balance and, despite remaining the key risk for the economy, a slight improvement of the banking system metrics. Additionally, the government debt level declined further and we expect it to continue in a downward trend in the following years driven by GDP growth and expected fiscal surpluses. Finally, the level of unemployment is at new record low since the 2013 crisis. We could upgrade the rating in our next revision, if positive factors continue with the current trend and the negative variables improve further.” - Clarified Marko Denic, Rating Analyst of Rating-Agentur Expert RA GmbH.”

 

Research report on Cyprus is available at: https://raexpert.eu/reports/Research_report_Cyprus_06.04.2018.pdf

Next scheduled rating publication: 5 October 2018. The full sovereign rating calendar can be found at http://raexpert.eu/sovereign/#conf-tab-5

 

 

MORE ON ECONOMY

Need To Accelerate Efforts To Deal With Climate Change, Central Bank Governor Says

Cyprus’ Central Bank Governor Constantinos Herodotou has stressed the need for all ...

Survey Vessel 'Nautical Geo' In Block 1 Of Cyprus' EEZ

Survey vessel "Nautical Geo" is in Block 1 of Cyprus` exclusive economic zone.

Cyprus Trade Deficit Up By 23% Year On Year In January – July 2021

Cyprus trade deficit amounted to €3,165.7 million for the period of January to July 2021, ...

FROM AROUND GOLDNEWS

   

Harris Kyriakides Celebrates 45 Years Of Successful Operations

The European Day of Justice, celebrated every year on October 25, was chosen by Harris Kyriakides as the starting point for the celebrations of the firm’s 45 ...
   

Financial Literacy A Key Element For A Well-Functioning Economic System, Central Bank Governor Says

Financial literacy can be seen as a key element for a well-functioning economic system and thus as a prerequisite for sustainable economic growth and financial ...
   

Rapid Adaptation Must Be Core Of Our Collective Response, Fiscal Council Chairman Says

Rapid adaptation must be the core of our collective response, Fiscal Council Chairman Michalis Persianis said addressing on Friday the 12th Limassol Economic ...
   

Need To Accelerate Efforts To Deal With Climate Change, Central Bank Governor Says

Cyprus’ Central Bank Governor Constantinos Herodotou has stressed the need for all stakeholders, to accelerate efforts to deal with the consequences of climate ...
   

Underwater And Beach Clean-Up From Melco And Agios Athanasios-Germasogeia Municipalities

Melco Cyprus, operator of Cyprus Casinos (“C2”) and the upcoming integrated resort (IR) City of Dreams Mediterranean, in collaboration with the ...
   

Survey Vessel 'Nautical Geo' In Block 1 Of Cyprus' EEZ

Survey vessel "Nautical Geo" is in Block 1 of Cyprus` exclusive economic zone.
   

Deputy Ministry Of Tourism Updated The Website Delightfulcyprus

Cyprus Deputy Ministry of Tourism has announced the release of the updated website www.delightfulcyprus.com in Greek and English language, in the context of ...
   

Presidential Commissioner Meets German Ambassador To Cyprus

Presidential Commissioner Photis Photiou met on Thursday with the German Ambassador to Cyprus Anke Schlimm in the context of his initiative to brief ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Great_Place_to_work
digital-marketing_forum

LINKS

SITEMAP
Newsletter Subscription
Our Company
Business Media
Subscriptions
Advertising
ContactUs
Terms & Conditions
GOLD MAGAZINE
Top 300+ Limassol Based Companies
50+ Biggest Audit, Accounting & Tax Advisory Firms in Cyprus
80+ Leading Law Firms in Cyprus
First Place For Tsouloftas-Elia Crew Of Petrolina Racing Team At The Larnaca Acropolis Rally
John Christodoulou On His Career, Philanthropy And Painful Childhood Memories Of The 1974 Turkish Invasion
With Medochemie's Best Wishes, Our Champions Fly To Tokyo
Dr Despina Serghides Receives World Renewable Energy Network “Life Pioneers” Award
Emir of Kuwait Reaffirms His Country's Principled Position On The Cyprus Problem
Health Minister: Situation In ICUs Manageable
FTSE Bosses Earn 86 Times More Than Average Worker In 2020
Policy Groups Ask Apple To Drop Plans To Inspect Imessages, Scan For Abuse Images
Narratives Blaming The Greek Cypriot Side For The Failure In Crans Montana Are Refuted, President Says
Cyprus Government Denies Claim That Afghan President Was Seeking Asylum In Cyprus
Number Of COVID-19 Patients In ICUs Remains High But Stable
Education Minister And Chinese Ambassador Discuss Enhancement Of Bilateral Relations
Hackers Steal Nearly US$100m In Japan Crypto Heist
Amazon Reportedly Plans To Open Department Stores
Chief Of Lebanon's Armed Forces Pays Official Visit To Cyprus
Cyprus Cabinet Meeting Takes Place In Presidential Summer Residence In Troodos
Christodoulides: Discussions In Israel “Forward-Looking And Substantive”
EU Says No Recognition Of Taliban, No Political Talks
Price Of Bread And Cereals In Cyprus Ranks Sixth Highest In The EU
Trade Deficit Up In First Five Months Of 2021
Turnover Value Index Of Transport And Storage In Cyprus Significantly Up In Q2 2021
Changes In Epidemiological Risk Assessment Of Countries Concerning COVID-19 In Cyprus
Cyprus To Revoke Passports Held By 'Officials' Of Turkish Occupying Regime
Leading Economic Index Records Increase In July 2021, Uncertainty Remains Amid Increased COVID-19 Cases
The Importance of Sustainable Investing for Investors, Businesses and Society
Cyprus Health Ministry Releases Vaccination Numbers
Ursula Von Der Leyen Outlined The EU’s Initial Plans Regarding Afghanistan
Russia Must Not Use Gas Pipeline As Weapon, Says Merkel
Banks Expect Stricter Lending Criteria For Households And Increase In Loan Demand, CBC Survey Says
Six Investors Shortlisted For The Sale Of Loans By State-Owned Asset Manager KEDIPES
Cyprus Shipping Deputy Ministry Welcomes Opportunity For Shipping Leaders To Meet Again In Person At Biennial Conference
Powercash21 Announces Wix Payment Provider Integration
EU Commission Misses Deadline To Trigger Rule Of Law Mechanism
Charles Michel Calls for Wider G7 Engagement and International Action in Support of Afghan People
NPLs Down By €7 Million In May 2021, The NPL Index Stands At 18%
Anastasiades: Tatar's Remarks Are Invalid, Passports Revoked Only For Some Turkish Cypriots
The Worst Investment You Can Have Right Now Is Cash
Minister of Health Tells Students That Decision About Return To Universities Will Aim To Safeguard Their Health
Nord Stream 2 Pipeline Must Follow EU Competition Rules, Says German Court
Is Asynchronous Communication The Future Of Work? The Power Of A "No Meetings" Policy In Practice
Climate Change: Europe's 2020 Heat Reached 'Troubling' Level
Cyprus Hands Over 12% Of COVID-19 Vaccine Doses To Turkish Cypriot Community
UCY ERC: Economic Sentiment Rises In August, But Uncertainty Remains
Deposits Continue To Rise For Fifth Consecutive Month, Loans Mark Second Monthly Increase
Electricity Prices Skyrocket, As Natural Gas And Renewables Projects Still In The Pipeline
Health Minister: No Need For More Measures Now
Boris Johnson: UK To Continue Kabul Evacuations Despite Deadly Airport Attack
Apple Agrees To App Store Changes Letting Developers Email Users About Payment Options
The Rise Of IT Security Threats And The Need For Data Protection
House Speaker Says The Effort For A Reunified Cyprus Continues
Christodoulides: Republic Ready To Participate In Any Meeting UNSG Wishes To Call On Cyprus
From Betting Shop To International Product Company: The Transformation Of Parimatch Into Parimatch Tech
Coming Months And 2022 Will Be Crucial For Fiscal Sustainability Says Petrides
Cyprus President Receives Credentials Of New Ambassadors Of Austria, Romania And Palestine
IFLR100 Financial And Corporate Rankings Place Elias Neocleous & Co LLC as ‘Tier 1’ Legal Firm
Restarting The Global Economy… The Right Way!
House President Meets With Outgoing Greek Ambassador
Successful Presence Of Cyprus In European And International Olympiads In Informatics
As Societies Change So Do Properties
The Human Factors That Build Resilience
President To Meet With Negotiating Team On The Cyprus Issue
Toyota Restarts Driverless Vehicles After Accident
Revenue From Tourism In June At €135.8 Million
Deputy Minister For Shipping To Participate In European Maritime Transport Environmental Report Meeting
A Total Of 70% Of The EU Adult Population Fully Vaccinated
Biden Defends 'Extraordinary Success' Of Afghanistan Evacuation Amid Criticism
Industrial Output Prices Jump In June 2021
Pilidou: Resumption Of Exploratory Drillings In Cyprus EEZ At Final Stage Of Preparation
Bank Of Cyprus Posts €1 Mn Profit For First Half Of 2021
Blockchain and Cryptocurrency Technology Digital Conference
SAVE THE DATE: 12th Limassol Economic Forum
Foreign Minister To Participate In Gymnich Meeting In Slovenia
The Taycan Updated: More Range, More Connectivity, More Colours
General Government Deficit At 3.1% Of GDP For First Seven Months Of 2021
Eurostat: Cyprus Unemployment Falls To 5.2% In July From 7.9% Last Year
GDP Growth At 12.9% In The Second Quarter Of 2021
Cyprus And Israel Ministers Of Energy Discuss Next Steps In Common Projects
5th Business Leaders Summit
Cyprus President Outlines Proposal To National Council
Cyber Threats and Data Protection: The Complexities of a New Reality
Christodoulides Says EU Must Be More Actively Engaged In The Region
Petrides: Eurostat’s Unemployment Data Show Success Of Our Policies
Energy Prices Push August Inflation Spike
ECB Purchases Billions In Cyprus Government Bonds
Free Startup Mentorship Programme Launches Open Call For Applications
Hermes Airports: Significant Improvement Of Cyprus Tourism
EY And IIF Risk Management Survey Shows Climate Change Now A Top Concern For Banks
Anastasiades Praises Outgoing Cysec President Over Capital Market Growth
Energy Minister Satisfied With Cairo Energy Meetings
Ambassador: Cyprus And China Should Seize Opportunity To Forge Closer Ties
European Banks Still Booking Profits In Tax Havens, Says Report
Action Global Communications Appoints Dimitris Ioannides Group Innovation & Growth Leader
Lidl Is The First To Adopt Green Retrofit Programme With EDGE In Cyprus
Do You Want To Improve Your Country? Invest In Children’s Physical Activity! How Boost4Best Supports Young Athletes Of Cyprus
Government Will Continue Supporting Economic Activity, FinMin Says
BidX1: Unique Residential Opportunities In Upcoming Digital Sale
Agreement Reached On Ten Steps To Speed Up Banking Procedures
eToro Becomes An Official Partner Of Leeds United
Cabinet To Discuss Implementation Of Government Reforms, Projects And Policies
Cyprus And Egypt To Establish Joint Maritime Committee
Petrides: Recovery And Resilience Plan Important For Growth
Building Permits In First Half Of 2021 Mark Significant Recovery
Cyprus’ Comparative Investment Advantages Presented In Berlin
Useful Things To Consider Before Relocating To Cyprus
Allianz Under Investigation In Germany Over Investment Funds
CIM-UWL 10th Anniversary Celebrations
President Stresses Importance Of Timely Reform Implementation
Total Employment In Cyprus Up 1.2% In Q2
Merkel Implores Germans To Back Conservatives As They Hit Record Low
Von der Leyen Calls On Turkey To Reverse Actions Taken In Varosha
Information Security & Data Privacy Conference Presented By BDO
The 9th Invest Cyprus International Investment Awards
The 9th Invest Cyprus International Awards: Easybrain
The 9th Invest Cyprus International Investment Awards: ENESEL Limited
The 9th Invest Cyprus International Investment Awards: Exness
The 9th Invest Cyprus International Investment Awards: Nexters
The 9th Invest Cyprus International Investment Awards: Parimatch Tech
The 9th Invest Cyprus International Investment Awards: Plus500
The 9th Invest Cyprus International Investment Awards: Teddy Sagi
Cyprus And Saudi Arabia Explore Prospects For Further Enhancement Of Relations
Petrides: Banking Sector Challenges Ahead Despite Progress
The Winners Of The 9th Invest Cyprus International Investment Awards
Imarcomms Announces The New Release Of DMI’s Professional Diploma In Digital Marketing - Version 9
Karousos: Larnaca Port and Marina Is Cyprus’ Biggest Ever Project
Petrides Welcomes Disbursement Of Pre-Financing From RRF To Cyprus
Total Sales Of Cyprus Industrial Products Up In 2019
Trade Deficit Rises In June And First Seven Months Of 2021
Petrides to Attend Eurogroup And Thessaloniki International Fair
Porsche Presents Its Future-Driven Mission R Concept Study
Infocredit Group Facilitates Tax Research Using LexisNexis TolleyLibrary & TolleyGuidance
Qatar Airways launches global destination sale with special fares to over 140 global destinations
House President: The UN Must Create A Climate For Constructive Negotiations
TechIsland Congratulates Winners of 9th International Investment Awards
Apple Still Reliant On One Core Product As It Nudges $3tn Hurdle
Vaccination Coverage Of Adults In Cyprus Reaches 80%
Zela Aviation And Precision Air Strategic Agreement
Cyprus President Anastasiades Begins Official Visit To Bahrain
CIFA: Investment Funds Sector In Cyprus Continues To Grow
Outgoing CySEC Chairwoman Calls On Her Successor To Continue With Vision For Safe And Reliable Capital Market
Cyprus And Bahrain FMs Sign Visa Waiver Agreement
Spehar: UN To Decide About A Trilateral Meeting On Cyprus
Commission Approves 22 Million For Cyprus Village Wastewater Collection System
Teddy Sagi’s Kape Buys Rival ExpressVPN For $936m
Τotal Government Employment Reached 52,321 Persons This August
Health Minister: Vaccination Rates Allow Us To Look Into Future With Optimism
Climate Anxiety As Global Study Reveals Three-In-Four Young People Think 'The Future Is Frightening'
US and EU Pursuing Global Deal To Slash Planet-Warming Methane
Pilides Discusses Investments And More With Bahraini Ministers
Demetriou: Cyprus and Sweden To Further Enhance Bilateral Relations
UK Delays Post-Brexit Border Checks On EU Imports Again, Citing Supply Chain Issues
Ioannis Matsis Is The New Chairman of Invest Cyprus
Infocredit Group Proudly Sponsors the 7th International Compliance Forum
eBOS Technologies Ltd Launches Video Series On H2020 Projects
Cyprus Commercial Air Transport Reduced But Recovering
Cyprus At International Chamber Of Shipping Meeting In London
VTTI Acquires Bioenergy Project In The Netherlands
George Theocharides Becomes New CySEC Boss, With George Karatzias Appointed as Vice-Chairman
PMI Cyprus Chapter Online Seminar: The Neuroscience of Leadership
Christodoulides To Meet Austrian EU And Constitution Minister
Anastasiades To Attend EUMED And UN General Assembly
Cyprus-Egypt To Proceed With ‘Aphrodite’ Natural Gas Transfer Study
Cyprus Chessemakers Association Challenges Halloumi’s PDO Status
Brussels Must Not Invent New Conditions For EU Membership, Says Merkel
Circular Economy And The Redefinition Of Mode Of Production
Cyprus Marine Club Event On New Innovative Technologies And Decarbonization
Dr. George Theocharides: “CySEC Will Continue To Act As A Protective Shield For Investors”
Parliament Postpones Local Authority Elections Until May 2024
EU Launches Health Crisis Body To Prepare For Future Pandemic
GOLD New Issue: Smart Shipping
Cyprus President To Brief EUMED Counterparts
US Attempts To Curb French And EU Backlash Over Indo-Pacific Pact With UK And Australia
Austria Sends Cyprus Messages Of Solidarity And Support
Cyprus' Participation In Bright Star Exercise ‘The Largest One Abroad’
Bitcoin Uses More Power In 2021 Than All Of 2020 As Climate Debate On Crypto Mining Heats Up
Loukaidis: Cyprus Among Top EU Countries In Research And Innovation
Cyprus President Continues Official Visit To New York
GHS To Spend €1.29 Billion By Year’s End
CI: Cyprus’ Sovereign Ratings Affirmed And Outlook Revised to Positive
Karousos To Attend EU Informal Council On Pollutant Reduction
FinMin In Consultations With Stakeholders About 780 Estia Applicants
Investments In The Pipeline For Green Hydrogen Production
The 7th International Funds Summit Sets The Bar High
EY Announces The Launch Of EY Entrepreneur Of The Year™ In Cyprus
Cyprus President meets on Tuesday with UN Secretary General in New York
Pilides: Transitioning To A Circular Economy The Answer To The Liner Model
World Tourism Day 2021 Theme Coincides With National Tourism Strategy
Contribution Of Industrial Sector To GDP ‘Could Increase’
Bidx1 Introduce New “Bird’s Eye” Tour: A 360° Interactive Platform To View Properties
Swedish Riksbank Holds Course, No Rush To Exit Pandemic Policies
UK Government Borrowing Higher Than Expected In August
Nouris: Efforts To Attract Investors Should Not Allude To Terminated CIP
Petrides: European Defence Fund To Co-Fund Ten Cyprus-Linked Proposals
EU Considers Postponing Major Cooperation Summit With US
Foreign Minister Christodoulides Continues Contacts In New York
President Anastasiades And UNSG Guterres Discuss Cyprus Issue
Demetriou: Parliament Should Prioritise Equality, Diversity And Integration Reforms
Regulatory Challenges And Solutions For FX Brokers
How the Global Know-How in Digital Marketing Can Enhance Your Digital Strategy
KPMG: Global CEO Confidence Returns To Pre-Pandemic Levels
Millions In Income Anticipated If Cyprus Hosts FIBA Eurobasket 2025 Group Phase
German Auto Giants Place Their Bets On Hydrogen Cars
Cyprus Forum- Launching A New Sustainable Horizon: Cyprus 2040
Spehar: Citizens Need To Get Engaged And Contribute To A Solution
Eurogate Welcomed The US Ambassador To Cyprus
Energy Minister: Financing Companies Should Be Facilitated To Avoid Losing EU Funds
Wholesale Trade Turnover Significantly Up In First Half Of 2021
ETUC: Almost 46% Of Cypriot Workers Can’t Afford Heating
Eurostate: Cyprus Third In EU In 2019 Most Cars Per Inhabitant List
Hermes Airports Senior Human Resources Manager Elected Chairperson Of The Leadership And HR Forum Of ACI Europe
The Limassol Boat Show Is Back Bigger And Better
German Election 2021: Who's Who In The Race To Replace Angela Merkel As Chancellor?
EY Reports Global Revenues Of US$40b In 2021 And Outlines Record US$10b Investment Plan Over Next Three Years
Last Week Of Privileged Registration For The Professional Diploma In Digital Marketing
UEFA Has Doubled Prize Money For Women's EURO 2022 Football Tournament
GOLD Magazine Presents THE FINTECH REVOLUTION- October Issue, 2021
Cyprus To Take Part In EXPO2020 To Be Held In Dubai
Cyprus President Anastasiades To Address The UN General Assembly
Cyprus House Plenary Votes For The Opening Of The Electricity Market
Government To Discuss Energy Programme With Exxonmobil Officials In New York
Energy Ministry And Cyprus Marine And Maritime Institute Sign Memorandum of Cooperation
Commission Approves Cypriot Support Scheme For Wine Producers
Percentage Of Cypriots Working From Home In 2020 Lower Than Most European Regions
Fears Grow For China Evergrande After Interest Deadline Missed
Hellenic Bank: Ongoing Resilient Performance In A Challenging Period
Petrolina Racing Team With Dynamic Presence At 49th Cyprus Rally
PwC Cyprus’ Annual Meeting: The Results And Strategy For The Future
Kyriakides: HERA Is The Authority We Should Have Had From The Pandemic’s Beginning
Petrides: Cyprus To Move From COVID Support Measures To Recovery
UN Secretary-General Meets With Anastasiades-Tatar On Monday
Some UK Fuel Stations Running On Empty
Fitch Affirms Cyprus’ Long-Term Credit Rating At BBB- Maintaining Stable Outlook
Cyprus Aims To Boost EV Sales To 25% Of Total Car Sales And 1,000 Charging Points
Hermes Airports Celebrates World Tourism Day
Cyprus Stands Ready To Establish A Cooperative Corporate Climate In The East Med, President Says
Electronic Money And Payment Institutions Launch Professional Association
Anastasiades: UNSG Oriented Towards Appointing A Special Envoy On Cyprus
Differences With Turkey Can Be Resolved Only Through International Law
Τοtal Deposits In August Record An Increase Of €495.6 mln, Decrease In Total Loans
Cyprus Composite Leading Economic Index Records Increase
Economic Sentiment In Cyprus Deteriorates This September As ESI Drops By 1.5 Points
UK Petrol Supply: Army Put On Standby To Ease Fuel Crisis
Ford Announces US$11.4bn Investment In Electric Vehicle Plants
GOLD Magazine Presents CORPORATE SOCIAL RESPONSIBILITY (CSR) IN CYPRUS- October Issue, 2021
Huawei: Innovating Nonstop For Faster Digitalization
Recapturing The Spirit Of The Old Nicosia Airport – The NIC Project
DP World Limassol: Return Of Cruising Fuels Economic Recovery
Johansson To Seek Common Ground With Turkey On Cyprus Irregular Arrivals
Canada's High Commissioner Reconfirms Support Of Cyprus' Sovereignty
Cypriot Company Among Gold Winners Of The EU Product Safety Award
Oil Price Rises Above $80 For First Time In Three Years
Justice Minister Highlights Justice Reform And Fight Against Corruption
German Election: How Could A New Government In Berlin Affect Brussels?
iSPIRAL Featured On CNN Greece As A Member Of Visa Innovation
7th International Compliance Forum: Reinventing Compliance
No Statement On Cyprus Yet, UN Spokesperson Says
Pelekanos: Greece - France Defence Deal Is A Positive Development
Industrial Production Accelerates By 9.3% In January – July 2021
UAE Ambassador Speaks Of High Strategic Value Of UAE-Cyprus Relations
Grant Thornton Cyprus Launches Sustainability Services
The Popular Robotex Robotics Competition Returns!
Tsouloftas Wins The 49th Cyprus Rally
“Pandemic, Social Distancing And Teleworking”
Driving Awareness About Safer Gambling
Alphamega Hypermarket Ensures Safe Work Environment With ISO Certification
TheSoul Publishing Reveals Its First Digital Music Artist
Christodoulides: Implementation Of Green Deal A Challenge For Cyprus
Nicosia Consents To Colin Stewart As The UNSG's Special Representative
Promote Your Company Through The U.S. Embassy
Creative Women International Platform Exclusive Networking Event
Eurostat: Unemployment Significantly Lower In Cyprus This August
Revenue From Tourism Increased Significantly In July
Revenue From Tourism Increased Significantly In July
GOLD Magazine presents special feature: HUMAN RESOURCES, RECRUITMENT & TRAINING
North Korea Reopens Hotline With South In Bid To Mend Ties
'Democracy Is Under Attack' Says Merkel At German Reunification Ceremony
Hellenic Life And Pancyprian Insurance Are Implementing SAP Solutions To Comply With The New IFRS 17 Regulation
Retail Trade Turnover Value And Volume Up In First Seven Months Of This Year
Cyprus Moves From Recovery To Growth Phase, Finmin Says Highlighting Need For Reforms
Foreign Minister On The Phone With Israeli And Maltese Counterparts On EEZ
No Wrongdoing Attributed To Anastasiades, Presidency Says On Pandora Papers
New And Redesigned Commercial Areas At Larnaka Airport
UN Secretary‑General In Contact With Security Council On Cyprus, Says His Deputy Spokesperson
Facebook, Whatsapp And Instagram Back After Outage
Recovery Plan and Non-Performing Loans
CySEC: The Public’s Financial Education Is Imperative
GenPro Sets Sights On Sustainability At Recent Blue Day Seminar
Leaders To Discuss EU Geostrategic Role At International Stage During Informal European Council Meeting In Slovenia
Foreign Minister To Pay Working Visit To Lebanon
Anastasides: The Government Invests In The Human Capital Of The Country
Central Bank Reports Deterioration Of Balance Of Payments, International Investment Position, External Debt in Q2
The ACCA Vision Of The Young People Determined To Go To The Top
Tradewind Middle East Limited Appoints Cedar Rose To Provide Critical Business Information Services
Facebook Harms Children And Is Damaging Democracy, Claims Whistleblower
Welcome To Payabl, Powered By Powercash21
ECB to Zoom In On Inflation Expectations
Cyprus President Informs EU Leaders Of Recent Developments In Cyprus Problem
Cyprus ready to support Lebanon’s sovereignty, stability, territorial integrity and unity, FM says
Number Of Jobless Plunges By 63% In September 2021 Driven By Tourism And Trade
Invest Cyprus Carries Out Targeted Meetings For Middle East And Persian Gulf Markets
Biden, Xi Plan U.S.-China Virtual Summit Before Year's End, U.S. Says
The 5th Project Management Conference
EY Presents The 17th CFO Management Forum And The CFO Awards 2021
Presidents Of Cyprus And Poland Meet In Nicosia To Mark Close Bilateral Cooperation
Mukesh Ambani: Asia's Richest Man To Launch 7-Eleven In India
KPMG In Cyprus Announces Partnership With RICS
Cyprus Forum 2021: Sustainable Policies In The Spotlight
Cyprus Parliament Approves Supplementary Budget Of €91.7 Million For The Needs Of The Pandemic
House Prices In Cyprus Down 4.9% In The Second Quarter 2021
Cyprus’ Inflation At 4.1% In September
Public Debt Estimated To Decline To €24.1 Billion By End-2021, PDMO Says
State Budget For 2022 Provides For “A Significant Fiscal Correction” Finmin Says
Cyprus Interior Minister Travels To Luxembourg For EU Home Affairs Council
President Anastasiades Welcomes Common Will Of Cyprus And Poland To Strengthen Their Cooperation
Tesla Moving Headquarters To Texas From California
Venus Minerals: Gold, Zinc And Copper Confirmed In Kokkinoyia Sector
SEPAGA E.M.I Successfully Participates In World-Renowned iFX Expo International
Desirable Properties Available For Purchase In Upcoming Bidx1 Digital Sale
Cabinet Approves Grant Scheme For New Entrepreneurial Activity In British Bases In Cyprus
Revenue Up And Significant Deficit Reduction In Cyprus State Budget For 2022
President Anastasiades Criticizes Turkish Side For Toppling Appointment Of UN Envoy On Cyprus
US Must Stand With Cyprus, Senator Menendez Says On Turkey's Provocations In Cyprus EEZ
Cyprus Welcomes OECD Tax Deal On Global Minimum Tax Rate
Lebanon Restores Power Supply After Complete Halt
Inflation To Remain Higher For Two Years, Warns OECD
Mass Protests In Poland Amid EU Exit Fears
What Is The New Global Minimum Tax Deal And What Will It Mean?
Merck Seeks First U.S. FDA Authorization For COVID-19 Tablet
Leptos Blood Donation In Memory Of Michael Leptos
Greece And Cyprus Address Challenges Through International Law, House President Says After Meeting With Greek PM
Cyprus Trade Deficit Accelerates To €3.55 Billion According To Provisional Data
Government Employment Rises Due To Temporary Employees
Cyprus Cabinet Approves Visa Waiver Agreement With Bahrain
Evergrande Misses 3rd Round Of Bond Coupon Payments, Intensifying Contagion Fears
Venus Minerals And Hellenic Copper Mines To Join Forces For Development Of The Apliki Mine
In Cyprus 88% Of Adults Say They Use The Internet Daily, Compared To 80% In The EU
Infocredit Group Sets The Standards In Legal Research With LexisLibrary
Agriculture Council Of The EU Discusses Support To Livestock Farmers, Fisheries, Turkish Actions In The Aegean
President Anastasiades Pledges Full Support To Shipping Industry
IMF Revises Upwards Its Forecasts For Growth Of The Cypriot Economy
Defence Minister Calls On Companies And Young Researchers To Show Interest In EU Defence Projects
Grant Thornton Cyprus: Team Bonding Event
Energy Security Dominates EU-Ukraine Summit, As Prices Continue To Surge
PwC Announces Global Revenues Of US$45 Billion
We Stand At A Critical Juncture, FM Says Of Global Challenges, Sees Endless Opportunities For Cooperation
CySEC Promotes Basic Investor Education
President Asks Merkel To Exert Pressure For Resumption Of Cyprus Talks
Pelekanos: Government Exhausting All Means To Put An End To Illegal Actions Of Turkey And T/C Side
State-Owned KEDIPES Cash Collections Exceed €1 Billion After Three Years Of Operation
LA Port To Open Round The Clock To Tackle Shipping Queues
Creative Women International Platform Exclusive Networking Event
ESG Principles Set The Scene For Sustainable Finance
Agriculture Minister To Issue Decree For The Accumulation Of 4% Reserves In Grain By March 2022
We Need To Maintain Adequate Connectivity For All, Transport Minister Tells ICAO Conference
GOLD New Issue: The 9th Annual Invest Cyprus International Investment Awards
Cyprus Aspires To Become A Regional Hub For Science And Technology Companies
Government Concerned Over Price Increases And Looking To Prevent Economy Risks
Tourist Inflow In The Winter Season Through Scheduled Flights, Says Perdios
Cyprus And Egypt To Sign Electricity Interconnection MoU
China Coal Prices Hit Record Highs, Early Winter Chill Adds To Energy Woes
Skandalis: Compliance Is The Key Catalyst To Restarting The Economy The Right Way
FMs Of Cyprus And Russia To Hold Talks In Moscow On October 21
FM Christodoulides Travels To Luxembourg, Turkish Illegal Activities In Varosha On The Agenda
Efforts For A Just And Viable Solution To The Cyprus Issue Must Continue, Says House President
Philippos Soseilos Elected As The New CEO Of PwC Cyprus
Alphamega Hypermarkets Rewards Customers With MasterChef Products
Techisland Welcomes The Approved Incentive Package For Attracting Companies In Cyprus
Trilateral Summit Between Greece, Cyprus And Egypt Takes Place In Athens On Tuesday
Facebook Plans To Hire 10,000 In EU To Build 'Metaverse'
President Anastasiades And British High Commissioner Discuss Cyprus Problem And Turkish Provocations
Cyprus Finance Minister Presents Budget To House Committee, Talks About Recovery
FM Travels To Budapest, EEZ And Varosha On The Agenda
The Greece-Cyprus-Egypt Trilateral Summit To Be Held In Athens Tuesday
Eurostat: 17.6% Of Cypriots Were At Risk Of Poverty And Social Exclusion In 2020
Cyprus' High Commissioner To South Africa Presents His Credentials To President Ramaphosa
Apple Doubles Down On Chip Strategy With New Premium-Priced MacBooks
Fail Whilst Trying To Change The World
Road Safety Week 2021: Let’s Not Let Our Dreams Fall Apart!
Central Bank Reports Slowdown In The Price Of Houses, Apartment Prices Go Up
Cyber Security Conference
Εastmed And Mideast Region Needs To Work Together To Tackle Climate Crisis, Prof. Sachs Tells CNA
A Two-State Cyprus Solution Is Unacceptable, Mitsotakis-Anastasiades Say
Trilateral Summit Aimed At Strengthening Ties And Tackling Challenges In The Region, Egypt Says
Strict Or Flexible? Brussels Kicks Off Debate To Reform Fiscal Rules
New Collaboration Between KEAN Trading And Kouroushis Dairies
Greek Cypriot Side Focused On The Resumption Of The Negotiations, House President Tells Israeli Ambassador
Cypriot And Russian FMs To Discuss Cyprus Problem And Turkish Provocations On Thursday
S&P Affirms RCB Bank’s “BB-” Rating With Stable Outlook
EY: Conditions Are Ripe For Rapid Growth In Renewables Generation, Inadequate Grid Investments May Be A Major Challenge
The Cyprus Composite Leading Economic Index (CCLEI)
GOLD magazine presents: INTERNATIONAL BANKING SERVICES IN CYPRUS
Finance Minister Says Green And Digital Transition To Revamp Economy In Cyprus
Cyprus Chief Scientist Promoted Cyprus As A Regional Research And Innovation Hub In Dubai
Tourist Arrivals In Cyprus Up By 153.7% Annually In First Nine Months Of 2021
UK And New Zealand Strike Free Trade Deal
Construction Materials Prices Up By Nearly 15% Annually This September
Consumer Prices Harmonised Index Up By 3.6% Annually In September, Down By 0.5% Monthly
Annual Inflation Rate At 3.6% In Cyprus And At The EU Level, At 3.4% In The Eurozone
iSPIRAL Participated In The ATHEX Innovation Program
12th Limassol Economic Forum
Attorney General Discusses Cancelled Cyprus Investment Programme With Reynders
P5 Must Deal With Ankara’s Discredit Of The UNSC Decisions, Says FM
Cyprus And India Reaffirm Potential For Further Cooperation On Many Sectors
President Anastasiades To Inform European Council On Turkey's Actions, Measures Against Rising Energy Prices, Migration
Cyprus Trade Deficit Up By 23% Year On Year In January – July 2021
Presidential Commissioner Meets German Ambassador To Cyprus
Deputy Ministry Of Tourism Updated The Website Delightfulcyprus
Survey Vessel 'Nautical Geo' In Block 1 Of Cyprus' EEZ
Underwater And Beach Clean-Up From Melco And Agios Athanasios-Germasogeia Municipalities
Need To Accelerate Efforts To Deal With Climate Change, Central Bank Governor Says
Rapid Adaptation Must Be Core Of Our Collective Response, Fiscal Council Chairman Says
Financial Literacy A Key Element For A Well-Functioning Economic System, Central Bank Governor Says
Harris Kyriakides Celebrates 45 Years Of Successful Operations
IMH LTD