1 eurozone’s economic growth

manufacturing industrial production

Cyprus Business Now: A Snapshot of Economic Activity

Cyprus’s Industrial Production Index rose to 142.9 units in September, with manufacturing leading the way with a 4.0% increase. Water supply and material recovery also saw significant growth, while mining and electricity supply faced reductions. Education initiatives and environmental recognition are supporting sustained economic development.

legislative modernization global standards

Cyprus Tech Sector Anticipates Growth from Citizenship Legislation Overhaul

The new citizenship legislation in Cyprus aims to boost its tech sector by attracting highly skilled professionals through simplified and updated regulations. Key qualifications for citizenship include Greek language proficiency, understanding of local culture, and a minimum monthly salary requirement, ensuring the integration and contribution of foreign talent to fill the local expertise gap in the tech sector.

banking ecb policies

Cyprus Banks’ Soaring Profits Amid Economic Indifference

Cyprus banks are enjoying soaring profits thanks to interest rate hikes by the European Central Bank (ECB). However, they are showing reluctance to support growth projects and instead prefer to deposit funds with the ECB, which offers a secure 4% return. This conservative approach is posing a challenge for policymakers who want the banks to play a role in supporting the real economy.

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