Average wages in six European Union countries including Cyprus are lower than 10 years ago, while in another three countries they are practically unchanged according to figures published by the European Trade Union Confederation (ETUC) on Monday.

The euro area (EA19) seasonally-adjusted unemployment rate was 7.4% in December 2019, down from 7.5% in November 2019 and from 7.8% in December 2018 and this the lowest rate recorded in the euro area since May 2008, according to data released today by Eurostat the statistical service of the EU.

The traffic control system software called ‘SCOOT’, a network used to maintain safe movements on roads, will be upgraded, Transport Minister Yiannis Karousos has said.

On Monday afternoon Cyprus will be ready to begin conducting specialised coronavirus tests, Health Minister Constantinos Ioannou said.

The head of the private hospitals’ association Pasin on Monday signed the long-awaited memorandum with the health insurance organisation (HIO) which forms the basis of negotiations for private clinics to enter Gesy.

Geopolitical uncertainty and trade tensions heavily impacted the 2019 IPO landscape, pushing overall IPO activity down in terms of deals and proceeds. 2019 has registered 1,115 IPOs with proceeds of US$198b – a 19% fall in deal volume and a 4% decrease in proceeds compared with 2018. However, as US-China-EU trade tensions, concerns about economic growth and other geopolitical issues – including Brexit and social unrest in Hong Kong – subside, a healthy increase in IPO activity is expected in 2020, particularly in the first half of the year, as markets are expected to become more volatile leading up to the US Presidential elections.

Insurance companies have to bear the costs of the ever rising number of car and motorcycle accidents in Cyprus – a phenomenon which is taking on alarming dimensions.

Developers said Friday banks made it difficult for people to get loans due to the strict criteria imposed by the central bank.

President Nicos Anastasiades said that multi-billion private developments and expenditure on public utilities, also amounting to several billion euros, are proof of the economy’s dynamic development and of restored confidence.

Cyprus has won back the halloumi trademark in the UK, more than 18 months after it lost it because of a blunder by Commerce Ministry officials.