Economic sentiment in Cyprus improved slightly in March, as the Economic Sentiment Indicator increased by 0.2 points compared with February 2023. The marginal increase was driven by confidence gains in industry, according to the Economic Research Cent…
Category: Market
PRESS RELEASE – BW – Vaultree Achieves Google Cloud Ready – AlloyDB Designation
Vaultree, the Data-In-Use Encryption leader, today announced that it has successfully achieved Google Cloud Ready – AlloyDB designation for AlloyDB for PostgreSQL, Google Cloud’s newest fully managed PostgreSQL-compatible database service for most dem…
Finance Ministry stresses importance of stable legislation for out of court auctions in tandem with insolvency framework
The Finance Ministry has stressed the importance of having a stable legislation regulating out of court auctions, in tandem with an effective insolvency framework in order to achieve a reduction of bad loans.It is “extremely important under present di…
Minister of Finance says financial economic policy will be in line with strict fiscal discipline
Minister of Finance, Makis Keravnos expressed the government position in favor of continuing with the provision of the cost of living allowance (COLA), and noted its commitment to the implementation of an economic policy within the framework of strict…
Initiatives on NPLs aim also to deal with a possible increase, says CBC
The Central Bank of Cyprus (CBC) initiatives on non-performing loans (NPLs) aim to ensure that the Cyprus banking system will be ready to deal with not only existing NPLs, but also the negative consequences that may arise from a possible future increa…
IMF calls for continued vigilance as risks to financial stability increase
International Monetary Fund chief Kristalina Georgieva has said that risks to financial stability have increased and called for continued vigilance although actions by advanced economies have calmed market stress.The IMF managing director reiterated on…
Germany at standstill as transport workers go on biggest strike in decades
Trade unions are calling for a 24-hour strike to increase pressure on the government and public transport companies in an ongoing dispute over pay and conditions.Tens of thousands of transport workers have brought Germany to a standstill in what is bei…
John Lewis: Ex-boss says changing ownership model would be a tragedy
A former John Lewis boss has said it would be a “tragedy” if the retailer changed its ownership model, which has been in staff hands for 70 years.Andy Street, managing director from 2007 to 2016, told the BBC’s Sunday with Laura Kuenssberg that John Le…
John Lewis: Ex-boss says changing ownership model would be a tragedy
A former John Lewis boss has said it would be a “tragedy” if the retailer changed its ownership model, which has been in staff hands for 70 years.Andy Street, managing director from 2007 to 2016, told the BBC’s Sunday with Laura Kuenssberg that John Le…
CBC adopts climate-related risk considerations and SRI strategies to contribute to a green EU economy
The Central Bank of Cyprus (CBC) has adopted a number of climate-related risk considerations and Sustainable and Responsible Investment (SRI) strategies, to contribute to the transition to a green and low-carbon EU economy, according to its annual cli…
Deposits in Cyprus banks up by pound 357.1 million in February
Total deposits in February 2023 recorded a net increase of pound 357.1 million, compared with a net decrease of pound 583,8 million in January 2023.According to data released on Monday by the Central Bank of Cyprus, the annual growth rate stood at 0.3…
Petroleum products sales down in February by 7% yoy
The total sales of petroleum products recorded this February an annual decrease of 7% to 107,779 tonnes, according to data published by the Statistical Service of Cyprus, on Monday.During the period January – February 2023, the total sales of petroleu…