The decline came despite a slight improvement in consumer confidence and upward revisions in business expectations for turnover in the next quarter. At the same time, the Economic Uncertainty Index recorded an increase in June following five months of decline.
CypERC stated that the drop in the ESI was driven by a deterioration in business sentiment in retail trade and manufacturing, as well as another decline in economic confidence in the services sector.
“The weakening of sentiment in services resulted from a worsening of the current situation, with firms’ assessments of their financial condition and turnover dropping significantly for a third consecutive month,” the report said.
Seven students from the University of Cyprus and seven from the Cyprus University of Technology (Tepak) were selected based on a combination of academic performance at the end of their first year and their socioeconomic background.
“This initiative forms part of one of the three strategic pillars of the PwC Foundation, Education and Culture, and reflects our commitment to strengthening local communities and enhancing the quality of life for individuals across Cyprus,” PwC Cyprus said.
The awards were presented during two official ceremonies, held at Tepak on June 17 and at the University of Cyprus on June 23.
According to the published figures, the average deposit interest rate offered to eurozone-resident households fell to 1.26 per cent in April, down from 1.41 per cent in March.
Eurobank offered the highest deposit rate at 1.65 per cent, although this marked a decline from 1.88 per cent the previous month. Jordan Ahli Bank followed with a rate of 1.38 per cent, compared to 1.50 per cent in March.
National Bank of Greece (Cyprus) Ltd offered a rate of 1.29 per cent, down from 1.61 per cent, while the Housing Finance Corporation offered 1.17 per cent, a drop from 1.31 per cent in March.
According to a statement from the chamber, the convention represents the first global legal framework that ensures ships are recycled in a safe and sustainable manner, protecting both human health and safety as well as the environment.
The chamber stated that it has “strongly supported the adoption and implementation of the Hong Kong convention”, recognising that for a global industry like shipping, it is “important to have uniform international regulations for ship recycling”.
At the same time, the credit rating agency affirmed the company’s long- and short-term issuer credit ratings at ‘B+/B’.
The improved outlook, the agency explained, reflects the company’s efforts to strengthen its risk management framework and its continued rapid expansion across Europe.
S&P also revised the outlook to positive for several other subsidiaries of Freedom Holding Corp., including Freedom Finance JSC, Freedom Finance Global PLC, and Freedom Bank Kazakhstan JSC.
These subsidiaries also retained their ‘B+/B’ long- and short-term credit ratings.
The decision was made during the company’s annual general meeting held on June 25.
The proposed record date for determining shareholders entitled to receive the dividend is Monday, July 7, 2025.
Shares will trade cum-dividend until the end of trading on Thursday, July 3, 2025.
From the beginning of trading on Friday, July 4, 2025, the shares will trade ex-dividend.
The company stated that this preliminary estimate is based on the financial data available to date.
“Results for the first half of 2025 are expected to show an improvement compared to the results for the corresponding period in 2024” the company said.
The anticipated improvement is “primarily attributed to a higher gross profit margin and increased contribution from associated companies”.
However, the company stated that these positive developments are being “partially offset by a rise in operating expenses“.
The announcement was made on the Cyprus Stock Exchange’s (CSE) regulated market and falls under the category of a profit-loss warning.
He said he had raised the issue at the European People’s Party meeting earlier in the day.
European leaders, he said, need to “look at” some of the planned measures, which had been the products of “decisions which we took in the past, when the facts were different”.
If all the planned green taxes are implemented now, he added, they would “affect the EU’s competitiveness even more”.
The cabinet had on Wednesday approved a bill providing for working remotely on certain days a year as well as working in the office.
It also approved regulations for reduced working hours and extending the flexible work schedule within the civil service.
The decision is part of reforms included in the recovery and resilience plan.
When the new plan will come into effect will be decided at a later date, depending on when the bills are passed by parliament.
The establishment of the CECC was welcomed by the Minister of Labour and Social Insurance, Yiannis Panayiotou, and the Chinese Ambassador to Cyprus, Liu Yantao, who expressed their confidence that the Chamber will contribute significantly to strengthening friendship and business cooperation between the two countries.
In his address, the Minister of Labour wished the new initiative every success, expressing his confidence that “the long tradition of friendship and cooperation between our countries and peoples will continue in the same direction.”
The CBC explained that, in accordance with the Macroprudential Oversight of Institutions Laws of 2015 to 2022, it deemed it appropriate to keep the buffer unchanged.
“The countercyclical capital buffer rate will remain at 1.5 per cent,” the bank stated.
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