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Inflation in Cyprus dropped to 2.6 per cent in July, reflecting a slowdown from the 3 per cent rate observed in both June and May, according to preliminary estimates released by Eurostat on Wednesday.
Households in Cyprus hold more than €56 billion in financial assets, with a significant portion held in cash, deposits, and loans, while also reducing their debt burden, according to a report released on Wednesday by the Central Bank of Cyprus (CBC).
Cyprus ranks fifth among EU countries in the progress achieved regarding research and innovation, Theodoros Loukaidis, Director General of the Res ...
Cyprus-based TUS Airways said recently it was expanding its operations offering direct flights from Larnaca to Thessaloniki.
Cyprus’ trade deficit widened in 2017 an annual 17%, or €727.3m, to €5.1bn, the highest since 2010 mainly on increased imports, the statistical service said.
As part of an effort to develop the next generation of supercomputers Cyprus became the fifteenth country to sign a European declaration on high-performance computing (HPC) this week, the European Commission said in a statement recently.
Company registrations in January rose by 13% to 1,198 compared with the same month in 2017, the Department of the Registrar of Companies and Official Receiver said recently.
The Treasury said the government’s actual revenues last year rose to €6.5bn from €5.9bn the previous year, against over €6bn provided in the 2017 budget.
Italy’s energy giant Eni said that it made a lean gas discovery off the coast of Cyprus after drilling an exploratory well at Calypso, the target of exploration in block 6 of the island’s exclusive economic zone (EEZ).
Some 3,000 new tourist beds are expected to operate this year in Ayia Napa and Protaras, ahead of the peak summer season.
The use of plastic money rose 9% in January to €227.1m compared to the respective month of 2016, the payment processing joint venture of Cypriot banks, JCC Payment Systems Ltd said.
The amount of non-performing loans in the Cypriot banking system fell in October 2017 by €51.7m to €21.4bn compared to September and by €2.7bn in a year, the Central Bank of Cyprus said.
The European Commission said that it expects economic growth in Cyprus to moderate to 3.2% this year and to 2.8% in 2019 after reaching 3.8% in 2017.
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