The Bank of Cyprus’ voluntary retirement plan, which recently received approval for the departure of 550 people at a cost of approximately €99 million, was described as credit positive in a report released this week by rating agency Moody’s.

Cyprus’ seasonally adjusted unemployment rate stood at 5.1% in June 2022, lower than the 6.6% in the Euro area and 6.0% in the EU, Eurostat data showed on Monday.

Drug abuse and addiction are high on the government’s list of priorities said Deputy Minister of Social Welfare Anastasia Anthousi, following Monday’s signing of a memorandum of cooperation between the ministry and the National Addictions Authority.

Transport Minister Yiannis Karousos inspected on Monday the three new pilot bus stops installed along Makarios Avenue, Nicosia as part of a wider infrastructure project.

Business and household debt in Cyprus reached €56.2 billion in the first quarter of 2022, according to data from the Central Bank of Cyprus.

Labour Minister Kyriakos Koushos held new talks with employers’ organisations on Friday as he seeks to bridge differences between social partners ahead of the introduction of a national minimum wage.

Hoteliers in the Famagusta district are satisfied with the number of tourists’ arrivals this summer, especially considering the difficult circumstances posed by the ongoing conflict in Ukraine.

Cyprus tourist numbers have rebounded this summer following two years of much-needed revenue lost during the COVID-19 pandemic.

The number of immigrants employed in Cyprus in 2021 amounted to 180,344, corresponding to 28.8% of Cyprus’ total labour force, the Cyprus statistical service (Cystat) has said.

Embria, a Cyprus-based venture builder firm that founds, funds and grows startups from the ground up, on Thursday announced that it has provided a $500,000 seed investment in 10K Riders.