Cyprus, as an innovative economy, based on European indicators, currently ranks 10th, compared with 22nd until five years ago, when it did not have the institution of the Chief Scientist, Deputy Minister Research, Innovation and Digital Policy Deputy, …
Category: Market
Commission approves €7.75 million Cypriot state aid scheme to help agricultural producers deal with effects of Russian invasion
The European Commission has approved a 7.75 million euro Cypriot scheme to help some agricultural producers through direct grants, in order to deal with the side effects of Russia’s invasion of Ukraine.The measure will be open to the agricultural secto…
CySEC warns investors of incidents of impersonation of its representatives and fake websites
The Cyprus Securities and Exchange Commission (“CySEC”) has warned investors about incidents of impersonation of its officers and representatives and
Tourist arrivals of 2023 may exceed those of 2019, Transport Minister says
Tourist arrivals in 2023 may exceed those of 2019 through concerted efforts between relevant Ministries and the airports operator, Transport,
Commission proposes public investments and targeted support, Alert Mechanism Report calls for reviews for 17 countries including Cyprus
The European Commission called for a continuation of coordinated fiscal policies to reduce inflation to 2%, a high level of
Trade deficit at €5.1 billion for January-August 2022
The trade deficit was €5,129.3 mn in January – August 2022 compared to €3,638.7 mn in the corresponding period of 2021, according to the monthly electronic publication “Intra & Extra EU Trade Statistics (by commodity and country)” for January – August …
Number of investment funds in Cyprus up for sixth quarter in Q3, assets decline
The number of investment funds registered in Cyprus rose for a sixth consecutive quarter in the end of September 2022, while their assets declined by 5.48% compared with June 2022, figures released by the Central Bank of Cyprus show.According to the CB…
Cyprus-China bilateral trade more than doubles in 2022 while several investments in the energy sector are in progress
China is ready to work with other countries to jointly create an even better future for the world, said Liu Yantao, the country’s Ambassador to Cyprus. Bilateral trade between China and Cyprus in the first nine months of 2022 is worth 651 mln euros and…
Labour costs and access to raw materials the main problems of Cyprus’ businesses in 2023, survey shows
High labour costs and unhindered access to energy and raw materials are the main challenges expected to be faced by Cypriot businesses in 2023, based on the 30th annual edition of the Eurochambers ?conomic Survey.In a press release concerning the outco…
Cyprus and Australia to start negotiations on “Double Tax” treaty
Cyprus Finance Ministry has expressed satisfaction for the positive reaction of Australian authorities to initiate bilateral negotiations for the conclusion of the Convention for the Elimination of Double Taxation with respect to Taxes on Income and th…
GDP growth rate at 5.5% for Q3, 2022, according to CyStat flash estimate
GDP growth rate in real terms during the third quarter of 2022 is positive and it is estimated at 5.5% over the corresponding quarter of 2021, according to a flash estimate of the Cyprus Statistical Service (CyStat), on Tuesday.Based on seasonally and …
Growth rate up by 5.5% in Q3 2022, Finance Minister says
Finance Minister, Constantinos Petrides, said on Tuesday that the growth rate of the Cypriot economy records an increase of 5.5% during the third semester of 2022.In statements at the Presidential Palace, after a meeting of the Council of Ministers, Pe…