Even though the economic situation in Cyprus doesn’t seem to be getting any better (some would argue its getting worse), car sales continue to increase. According to the Cyprus Statistical Service, private saloon-type car sales increased by 30.2% (10120 cars registered) during the first 7 months of 2014 compared to the same period last year. […]
According to an article in today’s issue of Phileleftheros newspaper, the Attorney General’s office is planning to purchase a server which will cost more than 600,000 euro in order to analyse the thousands of documents relating to economic scandals. The purchase was proposed by a British expert on the field in order the “strengthen the […]
CYTA (Cyprus Telecommunications Authority) and EAC (Electricity Authority of Cyprus) are the first two semi-government organisations that will be privatized. In order to make the organisations more efficient and subsequently more favourable for sale a number of their employees are to be laid off voluntarily and compensated. The parliament is called to approve an updated […]
Bank of Cyprus announced yesterday that according to the preliminary financial results of 2011, it took a hit of about 1.32 billion euro.
During the past 12 months Cyprus faced the second largest increase in its unemployment rate compared to the rest of European Union. Statistics made public yesterday by Eurostat indicate that the unemployment rate in Cyprus in December 2011 was 9.3%, up from 6.1%, the rate of December 2010. This was the largest recorded increase after […]
According the statistical data made public yesterday by Eurostat, unemployment in Cyprus has reached a record breaking rate of 8.2% in October (an increase of 0.3% from September). The change is a result of the continuing deterioration of the economic conditions in Cyprus, the uncertainty about its future and the inability of the government to […]
According to the Cyprus Statistical Service, employees of the Cypriot Public Sector earn 30% more than their private sector counterparts.