Economic sentiment in Cyprus improved slightly in May, with the monthly Economic Sentiment Indicator (ESI-CypERC) up by 1.1 points from April due to stronger business confidence in services.

Cyprus-licensed bank AstroBank on Wednesday announced that it recorded an after-tax profit of €3.3 million in 2021, a notable improvement on the €18 million loss it sustained in 2020.

Limassol has been ranked as the tenth best coastal city break destination in the world by UK price comparison website Comparethemarket.com.

The Cyprus fund industry has reached records of €11bn+ AuM, and pace of growth is expected to continue through 2022 and onwards. Whilst discussion around protective legislation and compliance is a key component to creating a successful ecosystem, there was little attention on the need for well-educated skilled investment professionals with the required level of ethical and professional standards to meet that growth.  

The Women in Business Law Europe Awards recognise leading women for their contributions to the practice of business law and also firms that have developed the most progressive initiatives towards diversity and inclusion from throughout the continent.  The awards attract entries from the most prestigious law firms across Europe and the UK with past winners including Clifford Chance, Baker Mackenzie, Herzog, and Sidley Austin.   It therefore gives Elias Neocleous & Co LLC enormous pleasure to announce that Senior Associates, Kyriaki Stinga and Elena Christodoulou, have both been deservedly selected as individual finalists in the 2022 awards.  In addition, Elias Neocleous & Co LLC. has been listed as a finalist for the South-East Europe Jurisdiction Award.

Amidst a serious shortage of IT specialists, Cypriots received training from tech experts at the first European coding challenge in Nicosia this month.

Universities and other educational institutions in Paphos, which have been increasing in number over the past few years, provide a valuable contribution to the development of the district, non-profit organisation Oxygono said on Tuesday.

Hotels in the Famagusta region are expected to see 80% occupancy rates through local interest over the weekend of Kataklysmos, the festival of the flood, from June 10 to 13, they said on Wednesday.

Six out of ten of Cypriots aged 25 to 34 hold a tertiary degree, the third highest rate in the EU and well above the bloc’s target of 45% by 2030, according to figures published by Eurostat on Tuesday.

Total new bank loans in Cyprus recorded an increase in 2021 compared to the previous year but the war in Ukraine has created a new environment – one that exacerbates pre-existing headwinds to growth.