PwC Cyprus presented its financial results for 2019, during the Annual Meeting of the organisation, which was held on Friday, 27 September in Limassol. The organisation’s revenue for the fiscal year that ended in June 2019 amounted to €81m, while its total contribution to government revenues over the same period, amounted to €28,3m.

With the tourist industry still trying to calculate the cost of Thomas Cook’s demise, Finance Minister Harris Georgiades said he did not expect the impact would be permanent or long term.

Cyprus’ leading retail bank Hellenic announced after-tax profits of €59.1 million for the first six months of 2019, with results partly reflecting the negative goodwill of acquiring the healthy portfolio of the Co-op.

Limassol port will see over 90 cruise ship arrivals in 2019, almost double the 2018 figure, the operator of the new cruise terminal at Limassol port, DP World Limassol, announced recently.

The Cyprus Chamber Of Commerce and Industry (CCCI) announced today the launch of the Cyprus - Kazakhstan Business Association, aiming to further promote, expand and encourage business relations between Cyprus and Kazakhstan.

Moody’s Rating Agency changed its Cyprus economy outlook from stable to positive due to reduction of sovereign exposure to event risks coming from the banking sector, as well as improving economic strength surpassing previous expectations.

The International Monetary Fund (IMF) foresees a cocktail of challenges and risks for the Cyprus economy, as external headwinds are decelerating GDP growth expected to be 3% this year and in 2020.

Moody’s rating agency said recently that Thomas Cook's liquidation was credit negative for Bulgarian, Cypriot and Greek banks as tourism would be negatively affected.

Public debt grew by €2.6b in 2018 primarily due to the state offering government bonds to Hellenic Bank as part of a deal where the latter absorbed the ‘good part’ of the state-run cooperative bank, MPs heard recently.

Total deposits in Cyprus banking system reached their highest level in the past 11 months in August 2019, according to figures released by the Central Bank (CBC), while loans remained at historically low levels, despite a net increase in the eighth month of this year.