Egypt warns Turkey over East Med economic interests

Egypt on Wednesday warned Turkey against any infringement of its economic rights in the eastern Mediterranean under a maritime border demarcation agreement signed in 2013 with Cyprus that allows explo [...]

Hints of encouraging gas finds, but experts urge caution

ENI and Total may have made a substantial gas discovery at their Calypso prospect in Cyprus’ offshore block 6, according to reports in the foreign press. Israeli financial daily Globes has reported [...]

Building permits up 45% in January to November

Less than 30 per cent of the construction activity which received the go-ahead from the local administration is in Nicosia while that in Limassol makes up more than 37 per cent, Cystat said. Around 13 [...]

Banks in Britain and US ban Bitcoin buying with credit cards

Banks in Britain and the United States have banned the use of credit cards to buy Bitcoin and other “cryptocurrencies”, fearing a plunge in their value will leave customers unable to repay their d [...]

Second term for Anastasiades, says more still left to do

Nicos Anastasiades comfortably held on to the presidency on Sunday, winning a second five-year term with a 12 per cent lead over Akel-backed Stavros Malas and garnering 55.99 per cent of the vote to h [...]

Property for passports?

IT IS THE PARADISE island in Europe which has not suffered from deteriorating relations between Moscow and the West. Quite the opposite. Cyprus is home to thousands of Russians seeking sun, tax bene [...]

Bitcoin skids to two-month low

Bitcoin, the world’s largest cryptocurrency, skidded 11 per cent on Thursday to its lowest since late November, as a Facebook ban on cryptocurrency adverts and a growing regulatory backlash against [...]

Economic sentiment strengthened in January 2018

Economic sentiment in Cyprus strengthened as the Economic Sentiment Indicator (ESI-CypERC) increased in January 2018 by 3.3 points compared with December 2017.According to a press release by the Unive [...]

Jobless rate seen at 11.3% in December, Eurostat says

Unemployment among youths in September, which was the latest available figure for Cyprus, was marginally revised upwards to 25 per cent, Eurostat said. The unemployment ratio in Cyprus among males an [...]

BOC ready to unconditionally compensate funds with €23m

The compensation to the provident funds will supplement a scheme announced by the government last year. In 2013, the government made €300m to compensate up to 50 per cent of the funds’ losses and [...]
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