recession | Cyprus Mail

Central Bank: all previous projections ‘upside down’, expect ‘serious recession’

Source: Cyprus News AgencyMay 28, 2020May 28, 2020

By Source: Cyprus News AgencyMay 28, 2020May 28, 202002953

Central Bank Governor, Constantinos Herodotou, expects the economy to experience a “serious recession” in 2020 due to the pandemic, he said on Thursday. “The economy’s...

Guest Columnist Opinion World

Global economy is probably in recession

Reuters News ServiceAugust 11, 2019

By Reuters News ServiceAugust 11, 201901360

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...

CM Regular Columnist Opinion

A second great recession or a second cold war?

Gwynne DyerSeptember 23, 2018September 23, 2018

By Gwynne DyerSeptember 23, 2018September 23, 20180129

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...

Business Europe Greece World

Greece, in recession again last year, eyes recovery in 2017-18

Reuters News ServiceOctober 17, 2017October 17, 2017

By Reuters News ServiceOctober 17, 2017October 17, 201713 223

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...

Business Greece

Greece expects growth, lower debt, unemployment to ease in 2017

Reuters News ServiceOctober 3, 2016November 3, 2016

By Reuters News ServiceOctober 3, 2016November 3, 20160117

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...

Business

Bank of England cuts rates, ready for ‘whatever action necessary’ after Brexit vote

Reuters News ServiceAugust 4, 2016August 4, 2016

By Reuters News ServiceAugust 4, 2016August 4, 201612 123

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...

Brexit World

UK economy wilting fast after Brexit vote, as PMI shows record drop (Updated)

Reuters News ServiceJuly 22, 2016November 7, 2016

By Reuters News ServiceJuly 22, 2016November 7, 2016126 164

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...

Europe World

‘Tourists go home’: Spain tourism surge brings backlash

FORMER STAFFMay 30, 2016November 9, 2016

By FORMER STAFFMay 30, 2016November 9, 20161100

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...

Cyprus

President expresses support to Greece’s efforts to exit recession and address the refugee crisis

FORMER STAFFMarch 25, 2016March 26, 2016

By FORMER STAFFMarch 25, 2016March 26, 201669 129

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...

Cyprus

Troika due back in Cyprus November 3 for eighth evaluation

Jean ChristouOctober 31, 2015November 2, 2015

By Jean ChristouOctober 31, 2015November 2, 201518 88

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...

Cyprus

CBC to announce measures to reduce lending rates

CyprusMailFebruary 12, 2015

By CyprusMailFebruary 12, 201510 74

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...

Business Cyprus

Russian crisis could keep Cyprus in recession for longer

George PsyllidesJanuary 14, 2015

By George PsyllidesJanuary 14, 201527 247

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...

Business Cyprus

Central bank chief sees return to growth in 2015 (Updated)

Elias HazouDecember 1, 2014February 9, 2016

By Elias HazouDecember 1, 2014February 9, 20160124

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...

Business Cyprus

Government bond rating upgrade from Moody’s (Updated)

CM Guest ColumnistNovember 15, 2014November 16, 2014

By CM Guest ColumnistNovember 15, 2014November 16, 20140121

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...

Business Cyprus

Cyprus remains in recession, pace of decline levels (Update)

CyprusMailNovember 14, 2014November 14, 2014

By CyprusMailNovember 14, 2014November 14, 201439 125

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...

Business Cyprus

EU autumn forecast: modest economic recovery for Cyprus expected to begin in 2015

Jean ChristouNovember 4, 2014November 4, 2014

By Jean ChristouNovember 4, 2014November 4, 201420 118

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...

Business Cyprus

Georgiades: recession seems to have run its course

Jean ChristouNovember 4, 2014November 5, 2014

By Jean ChristouNovember 4, 2014November 5, 201452 124

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...

Cyprus

‘2015 will be the year of recovery,’ Georgiades tells MPs; 2014 recession narrower

Jean ChristouOctober 18, 2014October 18, 2014

By Jean ChristouOctober 18, 2014October 18, 201422 137

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...

Cyprus

House prepares for marathon state budget discussions

FORMER STAFFOctober 14, 2014

By FORMER STAFFOctober 14, 20140121

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...

Business Cyprus

Cyprus sees shallower recession at 3.0 pct vs earlier 3.5 pct drop

George PsyllidesOctober 8, 2014

By George PsyllidesOctober 8, 2014045

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...