Global economy is probably in recession
By John Kemp The global economy is probably in recession, with most cyclical indicators showing business activity is flat or falling. Recessions become obvious only once...
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A second great recession or a second cold war?
By Gwynne Dyer Ten years ago this month the financial services firm Lehman Brothers filed for bankruptcy protection, triggering the 2008 Crash and the subsequent Great...
Greece, in recession again last year, eyes recovery in 2017-18
Greece fell into recession again last year, confounding its international creditors who had predicted some growth after years of budget austerity and bailouts. The country’s leading...
Greece expects growth, lower debt, unemployment to ease in 2017
Recession-hit Greece on Monday predicted a return to growth in 2017 and a drop in its huge debt burden via a tax-heavy draft budget submitted...
Bank of England cuts rates, ready for ‘whatever action necessary’ after Brexit vote
The Bank of England cut interest rates on Thursday for the first time since 2009, revived its bond-buying programme and said it would take “whatever...
UK economy wilting fast after Brexit vote, as PMI shows record drop (Updated)
By Andy Bruce and Douglas Busvine Britain’s economy is shrinking, the broadest survey of business confidence since last month’s historic vote to quit the...
‘Tourists go home’: Spain tourism surge brings backlash
By Sarah White On the walls of the grand old houses of this Balearic port which attracts millions of foreigners every year, a new kind...
President expresses support to Greece’s efforts to exit recession and address the refugee crisis
President Nicos Anastasiades on Friday expressed Cyprus` support for Greece`s efforts to exit its deep economic slump, and in addressing its refugee crisis. During a...
Troika due back in Cyprus November 3 for eighth evaluation
A Troika delegation (IMF, EC, ECB) returns to Cyprus on November 3 for the eighth evaluation of the island`s adjustment programme which ends on March...
CBC to announce measures to reduce lending rates
The CBC Board of Directors will announce measures aiming at reducing lending rates, CBC Governor Chrystalla Georghadji told the Board of the Employers and Industrialists...
Russian crisis could keep Cyprus in recession for longer
By Michele Kambas Economic woes in Russia are tempering prospects of bailed-out Cyprus returning to growth in 2015 and mean the island nation risks a...
Central bank chief sees return to growth in 2015 (Updated)
By Elias Hazou CYPRUS IS expected to return to growth in 2015 and this year’s slowdown should be shallower than expected, Central Bank (CBC) governor...
Government bond rating upgrade from Moody’s (Updated)
By Constantinos Psillides BOND CREDIT ratings business Moody’s has upgraded Cyprus’ government bond rating to B3 from Caa3 and has also changed the outlook on...
Cyprus remains in recession, pace of decline levels (Update)
Cyprus’ economy remained stuck in recession in the third quarter of the year, flash data showed on Friday, with the pace of decline flattening out because...
EU autumn forecast: modest economic recovery for Cyprus expected to begin in 2015
Cyprus is expected to record a growth rate of 1.6 per cent in 2016 according to the European Commission`s Autumn Economic forecast. The forecast for...
Georgiades: recession seems to have run its course
The finance minister said on Tuesday the downturn on the island appeared to have bottomed out, after the economy showed an improvement over the past...
‘2015 will be the year of recovery,’ Georgiades tells MPs; 2014 recession narrower
By Angelos Anastasiou THE fiscal deficit is projected to be lower this year than the 3 per cent threshold set by the European Union and...
House prepares for marathon state budget discussions
By Angelos Anastasiou DISCUSSION of the government budget for 2015 will commence at Friday’s House finance committee session, in the presence of Finance Minister Harris...
Cyprus sees shallower recession at 3.0 pct vs earlier 3.5 pct drop
Cyprus’ economy will shrink in 2014 by less than first thought, the island’s public debt management agency said on Wednesday, revising its forecast to a...
Recession eases in Q2 thanks to tourism boost
The island’s recession-hit economy contracted at a slower pace in the second quarter thanks to strong tourism arrivals, official data confirmed on Wednesday. Cyprus recorded...
