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Fitch puts long-term credit rating at B+

Fitch puts long-term credit rating at B+

Fitch Ratings has affirmed Cyprus’ long-term credit rating at B+ with a positive outlook, even as risks continue to weigh… Read More

Recent Articles

25 July 2016

UCY revises 2016 growth forecast upwards to 2.9%

Cyprus’ economy is projected to expand 2.9%, which is the fastest pace since 2008, and beats the 2.2% and 2.7% updated forecasts by the Finance Ministry and the central bank respectively, even as Brexit… Read More

23 July 2016

CTO requests extra €12m to boost Cyprus tourist arrivals

The Cyprus Tourism Organisation (CTO) is seeking to beef up its promotion and advertising campaign for 2017 by asking for the government to cough up a further €12 million to add to… Read More

22 July 2016

Cyprus says 3rd round attracts more quality companies

Energy Minister Yiorgos Lakkotrypis said that some of the companies already involved in oil and gas exploration in Cyprus’ exclusive economic zone had submitted bids in Cyprus’ third licencing round. Read More

21 July 2016

Cyprus Industrial Turnover accelerates in April 2016

Cyprus' Industrial Turnover Index for April 2016 marked an increase of 0.9% year on year reaching 76.5 units, the Statistical Service (Cystat) has announced. Read More

21 July 2016

UCY to get a €32m loan from Council of Europe Development Bank

The Council of Europe Development Bank will extend a €32m loan to the University of Cyprus to finance the expansion of its campus, the Finance Ministry said. Read More

21 July 2016

Tourism indicators favourable for Cypriot banks, Moody’s says

Moody’s Investors Service said that it expects that 2016's strong performance of the tourism industry will help Cypriot banks via opportunities to extend new lending and sell assets in… Read More

21 July 2016

Cyprus’ NPLs drop to €25.4bn in May 2016

The amount of non-performing loans in the Cypriot banking system fell by €144.3m from April to May 2016, and by €1.6bn compared with May 2015, to below €25.4bn, which is the lowest… Read More

20 July 2016

Bids for Cyprus’ 7-year bond reach €2.5b

Bids for Cyprus' 7-year bond under the EMNT programme reached €2.462.698.000, exceeding by two and a half times the original target of the Ministry of Finance, with a yield of 3.80%. Read More

19 July 2016

Cyprus signs double taxation treaty with Jersey

The Republic of Cyprus signed an agreement for the avoidance of double taxation (‘DTT’) with Jersey, during a ceremony at London’s Cyprus High Commission on 11 July 2016. Read More

19 July 2016

Work on luxury residential towers at Napa marina begin in September 2016

The construction of luxury residential twin towers which will be part of the new Ayia Napa marina will start in late September 2016, Mayor Yiannis Carouses announced recently. Read More

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