Crisis or not Cypriots are now buying more cars

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. […]

Cyprus Attorney General’s office to buy 600000eu server

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 […]

600 employees to leave CYTA within a year

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 […]

Unemployment Rate is Skyrocketing, reached 9.3%

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 […]

Cyprus faces record high unemployment rate

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 […]