Category Archives: Market

Positivity rate in Cyprus at 2.19% as Ministry of Health announces 244 new COVID-19 cases

Cyprus Ministry of Health announced on Friday 244 new COVID-19 cases after conducting 11,163 tests (PCR and rapid), bringing the total number of cases since the beginning of the pandemic to 28,609. Positivity rate decreased, to 2.19% from 2.33% on

Cyprus house prices see biggest decline in EU

House prices in Cyprus recorded an annual fall of 1.4% in the third quarter of 2020 marking the biggest drop in the European Union, official data shows.Cyprus not only had the biggest annual fall in house prices in Q3 but

A new budget rejection will push Cyprus to default, FinMin says

A new rejection of the 2021 state budget could lead Cyprus to default on its payments, Minister of Finance Costantinos Petrides warned on Friday, stressing that without fiscal support to businesses and self-employed to face the difficulties due to the

Banks need to find new business model to adapt to new era, Cyprus Central Bank Governor says

Banks need to find a new business model to adapt to the new era, Cyprus Central Bank Governor Constantinos Herodotou has said.Herodotou, who was addressing the online 8th Banking Forum & FinTech Expo on Friday, referred to measures taken by

Euro area international trade in goods surplus €25.8 bn, €25.3 bn surplus for EU, for November 2020

The first estimate for euro area exports of goods to the rest of the world in November 2020 was €196.7 billion, compared with November 2019 (€198.6 bn), this is a decrease of 1.0% but it nevertheless indicates a return to

COVID19: Lockdown II will test Cyprus banks

Although the government has announced financial support to buffer the effects of a second lockdown, there is a larger credit-negative economic effect for Cyprus banks as the pandemic endures.The lockdown measures will squeeze business revenue and cash ...