Cyprus Cooperative Bank

Constantinos Herodotou, governor of the Central Bank of Cyprus (CBC), has called for the preservation of fiscal space, as economic prospects are deteriorating due to Russia's war in Ukraine.

The IMF said on Tuesday that economic growth in Cyprus is gradually decelerating but remains strong, buoyed by the services and construction sectors which are partly financed with foreign direct investment.

The average gross monthly earnings of employees in Cyprus stood at 1,827 euros in the third quarter of 2018 compared to 1,772 euros during the third quarter of 2017, an increase of 3.1 percent, according to provisional data published by the Statistical Service on Monday.

Fitch and Moody's made positive assessments of the Cypriot economy following moves by the government to deal with an upheaval in the banking sector of the Eastern Mediterranean island, statements issued on Thursday said.

Cyprus's President Nicos Anastasiades did not accept Finance Minister Harris Georgiades's resignation offer despite strong demands by all opposition parties, a statement said on Monday.

The Cypriot Parliament has passed legislation aimed at providing state guarantees to Hellenic Bank in its acquisition of Cyprus Cooperative Bank's healthy portfolio.

A banking era came to an end with the ironing out of the last details of a deal under which Hellenic Bank, Cyprus's third largest lender, will acquire the operations of the Cyprus Cooperative Bank (CCB), banking sources said on Thursday.