Cyprus and the EU

Latest business news about Cyprus and the European Union.

Cyprus gets first tranche of EUR 2.5bn Russia loan — 29 December 2011, 17:58 CET

Debt-laden Cyprus on Thursday received the first tranche, worth 590 million euros, of a 2.5-billion-euro Russian loan agreed to last week, the Cyprus News Agency reported.

Cyprus austerity strikes shut down airports, ministries — 15 December 2011, 11:32 CET

Cyprus government services and airports came to a halt on Thursday as thousands of civil servants went on strike over austerity measures to reduce a bloated fiscal deficit.

Cyprus hit by strikes over austerity package — 14 December 2011, 23:20 CET

Thousands of civil servants in Cyprus staged an impromptu strike on Wednesday in protest at a two-year salary freeze among other government austerity measures to avoid an EU bailout.

Cyprus public sector strikes over austerity — 13 December 2011, 12:25 CET

Thousands of public sector workers in Cyprus staged a three-hour stoppage Tuesday in protest over government moves to freeze salaries for two years as part of an austerity drive to avoid an EU bailout.

Cyprus' troubled banks threaten austerity package — 29 November 2011, 23:04 CET

Debt-burdened Cyprus is desperate to enforce a new wave of austerity measures to avoid a European Union bailout, but it could be a lost cause if its banks have to be rescued from outside, experts warn.

Cyprus approves expansion of EU bailout fund — 29 September 2011, 18:18 CET

The Cypriot parliament overwhelmingly ratified on Thursday a proposed expansion of the eurozone's 440-billion-euro ($599 billion) bailout fund, the European Financial Stability Facility.

EU urges Turkey to avoid threats in Cyprus gas row — 19 September 2011, 14:01 CET

The European Union called on Turkey on Monday to refrain from making threats in a gas drilling dispute with Cyprus, an EU member whose government is not recognised by Ankara.

Turkey threatens ties freeze if Cyprus takes EU helm — 19 September 2011, 15:30 CET

Turkey will freeze its relations with the EU if Cyprus takes the union's rotating presidency next year before a solution is reached on the divided island, the deputy prime minister said late Saturday.

Erdogan threatens freeze with EU during Cypriot presidency — 19 July 2011, 16:28 CET

Turkish Prime Minister Recep Tayyip Erdogan has threatened to freeze relations with the EU while Cyprus holds the union's rotating presidency next year, drawing condemnation from the Cypriot president.

Cyprus economy flat in first quarter — 13 May 2011, 12:51 CET

The Cyprus economy recorded zero growth in the first quarter of 2011 pointing to a suttering recovery in the Mediterranean island, official data showed on Friday.

Croatia could sign EU entry deal this year, Poland says — 09 May 2011, 21:38 CET

Croatia could sign its European Union entry deal this year, Poland's Prime Minister Donald Tusk said Monday as his country prepares to take the helm of the 27-nation bloc.

EU Med states under pressure from unrest migrants — 19 April 2011, 17:14 CET

Five southern Mediterranean countries on Tuesday called on the European Union to do more to help them tackle intense migratory pressure from political upheaval in the region including Libya.

EU pledges migration help to southern Med countries — 13 April 2011, 16:08 CET

European Council president Herman Van Rompuy said Wednesday the EU could do more to assist southern Mediterranean countries tackle an influx of illegal migration in the region.

Turkish Cypriots free Greek Cypriot ex-MEP — 14 March 2011, 17:55 CET

Two Greek Cypriots including a former MEP arrested with two Polish European parliament members in Turkish-occupied northern Cyprus at the weekend were released on Monday after being fined.

Greek Cypriot released on bail in north Cyprus — 13 March 2011, 22:18 CET

A Greek Cypriot who is charged with entering an off-limits military area in Turkish-occupied northern Cyprus was released on bail Sunday pending the trial, Turkey's Anatolia news agency reported.

Euro-MPs, Greek Cypriots detained in north Cyprus — 12 March 2011, 23:55 CET

Two Polish Euro MPs and two Greek Cypriots were arrested on Saturday after entering an off-limit military area in Turkish-occupied northern Cyprus, allegedly to visit destroyed Orthodox churches there.

Representation of the European Commission in Cyprus — 17 October 2009, 23:10 CET

This website provides information and contacts of the European Commission representation in Cyprus.

Setting up a business in Cyprus — 17 October 2009, 23:10 CET

An overview of the process of starting a new business in Cyprus and the documents required.

Cyprus Investment Climate 2009 — 17 October 2009, 23:09 CET

Cyprus, a full member of the European Union since 1 May, 2004, has a liberal climate for investments. The sectors of niche tourism, energy, shipping, desalination and water management services offer excellent potential for inward investment. At the same time, the Government of Cyprus offers incentives in the field of research and technology.

Cyprus: Economy Overview — 09 December 2010, 18:57 CET

The area of the Republic of Cyprus under government control has a market economy dominated by the service sector, which accounts for nearly four-fifths of GDP. Tourism, financial services, and real estate are the most important sectors.

Cyprus and the euro — 03 February 2008, 23:56 CET

Cyprus joined the European Union in 2004 and adopted the euro on 1 January 2008.

Convergence Reports 2007 - Cyprus — 16 May 2007, 13:28 CET

On 16 May 2007, the European Commission concluded that Cyprus has achieved a high degree of sustainable economic convergence with the other Member States and that it fulfils the necessary conditions to adopt the euro. On the basis of its Convergence Report, the Commission is proposing to the Council that Cyprus adopts the euro on 1 January 2008. The final decision will be taken by EU finance ministers in July, after consultation of the European Parliament, and following a discussion by the Heads of State or Government at their summit in June. In its Convergence Report, the Commission assesses whether Cyprus has achieved a high degree of sustainable convergence, measured against the criteria set out in Article 121(1) regarding the government budgetary position, price stability, exchange rate stability and convergence of long-term interest rates. Compatibility of the legal framework with the Treaty is also examined.

Cyprus country profile — 03 January 2010, 00:32 CET

Cyprus is the largest island in the eastern Mediterranean, and is situated south of Turkey. Cyprus joined the European Union on 1 May 2004.

Cyprus Business Guide — 05 August 2006, 15:08 CET

Whether you are looking for new markets or just wish to keep up-dated, the annual Cyprus Business Guide is your affordable, comprehensive reference tool.

Doing Business in Cyprus (Ernst & Young) — 05 August 2006, 14:12 CET

2006 edition of Ernst & Young's full text publication "provides the busy executive a quick overview of the investment climate, taxation, forms of business organization, business and accounting practices, as well as other aspects pertaining to initiating and developing business in Cyprus". (pdf)

International Tax and Business Guide Cyprus (Deloitte) — 08 February 2010, 23:48 CET

Business guide from Deloitte featuring information on the Investment Climate, Labour Relations and Work Force, Business Regulations, Foreign Investment, Choice of Business Entity and Corporate Taxation in Cyprus.