The deputy tourism ministry on Monday announced a subsidy scheme designed to upgrade restaurants in certain areas of Cyprus.

Invest Cyprus, the organisation tasked with attracting foreign direct investment has created a special unit to help the National Tourist Strategy succeed in attracting 5 million tourists by 2030.

Negative interest rates by which a bank charges for cash deposits will be imposed on corporate customers by the big Cyprus banks from the beginning of next month. Individuals are safe as these will apply only to businesses, at least for now.

While deposit rates are at rock bottom with some banks even applying negative interest on large sums, Insurance companies argue that their investment funds may offer shrewd investors a way out.

Cyprus' central government debt declined to €20,739 million in December 2019, marking a reduction of €330 million compared with end-2018, according to new data released by the Ministry of Finance Public Debt Management Office (PDMO).

The Paralimni/Protaras area will be promoted as an ideal destination for couples as part of a new strategy by the Paralimni Municipality presented yesterday in the presence of Deputy Minister of Tourism Savvas Perdios.

HSBC has become correspondent bank for Bank of Cyprus for transaction services in dollars and this is a vote of confidence for the Cypriot lender, Phileleftheros reports.

Eurozone’s annual inflation rate was 1.4% in January 2020, up from 1.3% in December 2019, according to Eurostat data released on Friday.

Online auction of properties acquired by banks, mainly through debt-to-asset swaps to reduce their toxic loans, have started to take-off as many more are being sold off.

Cyprus shipping supports the Industry’s positions on the EU Green Deal and is fully committed to eradicating its greenhouse gas (GHG) emissions as soon as possible.