Russian state-owned VTB Bank (PJSC) has transferred all its shares in RCB Bank to Cypriot shareholders, making RCB a 100% Cypriot-owned bank.

Cyprus’ Harmonized Index of Consumer Prices in January 2022 increased by an annual 5%, climbing to the highest level of the last 13 years, mainly pushed by prices increases in energy and transport.

The enhancement of trade relations between Cyprus and the UAE, was discussed on Wednesday in Dubai, during a meeting between Cyprus Energy, Commerce, and Industry Minister, Natasa Pilides, and UAE Minister of State for Foreign Trade Thani Ahmad Al Zeyoudi.

Seven out of ten businesses in Cyprus said their turnover took a hit from the coronavirus pandemic in 2021 while blaming the government for ‘not doing enough’ to guide them through the crisis.

Over 3,600 primary and secondary school students competed for the best green-business ideas that would help reduce plastic use and promote environmental sustainability as part of the mindREset programme.

Deputy Minister for Tourism Savvas Perdios has reportedly assured the tourism industry that the government is devising a contingency plan in the event of a flare-up in Ukraine and possible sanctions on Russia, adversely impacting tourist arrivals from that country but from Ukraine as well.

The ambassador of Italy, Federica Ferrari Bravo, visited the University of Nicosia last week following an invitation by the rector to explore possible areas for collaboration.

The University of Nicosia announced its advancement into the Top 180 among “young” universities globally this week.

The Bank of Cyprus posted an after-tax profit of €30 million and a profit after tax and before non-recurring items of €91 million in its financial results released on Monday.

The European Commission has approved under EU State aid rules Cyprus' map for granting regional aid from 1 January 2022 to 31 December 2027, within the framework of the revised regional aid Guidelines (`RAG`) which was recently adopted.