Amidst a serious shortage of IT specialists, Cypriots received training from tech experts at the first European coding challenge in Nicosia this month.

Universities and other educational institutions in Paphos, which have been increasing in number over the past few years, provide a valuable contribution to the development of the district, non-profit organisation Oxygono said on Tuesday.

Hotels in the Famagusta region are expected to see 80% occupancy rates through local interest over the weekend of Kataklysmos, the festival of the flood, from June 10 to 13, they said on Wednesday.

Six out of ten of Cypriots aged 25 to 34 hold a tertiary degree, the third highest rate in the EU and well above the bloc’s target of 45% by 2030, according to figures published by Eurostat on Tuesday.

Total new bank loans in Cyprus recorded an increase in 2021 compared to the previous year but the war in Ukraine has created a new environment – one that exacerbates pre-existing headwinds to growth.

Branches of Lebanese banks operating in Cyprus will shut down following a decision by the country’s Central Bank. A Central Bank of Cyprus (CBC) official has confirmed to CNA the decision taken by the country’s banking regulator.

A four-day workweek is being piloted in the Republic of Cyprus, with a big accounting firm on the island testing the waters of better work-life balance this summer.

The goal for Cyprus is to see over two million foreign visitors until the end of the year, Deputy Minister of Tourism Savvas Perdios said on Tuesday.

Total exports of goods to the EU Member States and to third countries in January - February 2022 increased by 55.2%, compared to the same period last year, according to the monthly report published by the Statistical Service of Cyprus. At the same time, the trade deficit fell to €955 million in the first two months of this year compared to €999.1 million in the first two months of 2021.

GDP growth in Cyprus this year will decelerate to 2.3% from the previous estimate of 3.6%, while inflation will more than double due to negative geopolitical developments associated with the war in Ukraine, Central Bank governor Constantinos Herodotou said.