Bank of Cyprus recently announced a third-quarter net profit of €19m, and €119m for the first nine months of 2019, as it continued to repair its balance sheet.

The House commerce committee decided unanimously to cut the renewable energy charge on electricity bills by half per KwH from one cent currently in force, starting in 2020.

Cyprus is set to sign a contract to supply natural gas to the domestic market by the end of the year, Energy Minister Yiorgos Lakkotrypis said recently.

The grant scheme for installing renewable energy sources (RES) in homes will continue in 2020 the Energy Ministry announced recently.

Ayia Napa will be the first municipality in Cyprus to use blockchain technology, the town’s mayor said recently.

The economic contribution of small businesses in Cyprus is huge with more than 75% of total value added generated in the non-financial business economy.

An online e-auction platform was launched by a subsidiary of the Cyprus Banks Association in an attempt to boost the sale of mortgaged properties belonging to defaulted borrowers.

Unemployment in Cyprus dropped to 6.7% in the third quarter of 2019, according to the latest Statistical Services report.

High property prices in the real estate sector have begun to deflate as the 3rd quarter of 2019 paints an entirely different picture to what Cyprus has grown accustomed to over the past few years.

International credit rating agency Capital Intelligence has affirmed the long term and short-term ratings of Hellenic Bank at ‘BB-’ and ‘B’, respectively.