The Central Bank of Cyprus said the Cypriot economy will contract this year 2.6% compared to 2013 mainly on a better than expected course of private consumption which is expected to fall by 1.7%.

Paphos has been awarded a gold medal for the quality of its coast and has been included in the top 20 most clean, green and in harmony with nature, sustainable destinations for holidays.

Bank of Cyprus said that its share will commence trading a total of 8,904,425,940 of its outstanding shares on the Cyprus Stock Exchange and Athens Exchange from Tuesday, 16 December 2014 at a starting price of €0.24 per share.

The holiday season is typically one of the busiest times of year and this is true for businesses of all shapes and sizes. Whether you are a small start-up company or a large multinational corporation, the seasonal period is always likely to place a heavier strain on your current team who are under immense pressure to meet additional obligations and tight deadlines.

Investments aimed at boosting growth and creating jobs is the only way to tackle unemployment, Minister of Labour Zeta Aimilianidou told the EU Council of Labour and Social Policy, which convened in Brussels recently.

The per capita GDP of Cyprus was 89% of the EU average in 2013, according to the revised statistics of Eurostat, falling from 93% in 2012 and 96% in 2011.

DBRS, Inc. has confirmed the long-term foreign and local currency issuer ratings for the Republic of Cyprus at B (low), with the short-term foreign and local currency issuer ratings confirmed at R-5 and the trend on all ratings remaining ‘stable’.

Bank of Cyprus Chief Executive John Hourican said that the Cyprus economy is now within a state of political and fiscal stability, seeing the prospects for 2015 as positive.

2015 will be a year of economic recovery, reform and change, said Finance Minister Harris Georgiades, saying there will be no new taxes or cutbacks in the 2015 budget.

Finance Minister Harris Georgiades said the government is considering requesting international lenders to allow Cyprus use €1 billion of bailout money initially earmarked for the recapitalisation of the cooperative banks to refinance existing debt.