Following the announcement of a revived corporate identity, Cybarco has launched its new website. Featuring the company’s history, heritage and iconic developments, the elegant image-led portal is a one-stop platform for all things “Cyprus property”.

Confidence in the mergers and acquisition (M&A) market is rising, with 58% of technology, media and entertainment, and telecommunications (TMT) executives planning to pursue M&A in the next year – up from 42% six months ago. This is according to the 20th edition of the EY Global Capital Confidence Barometer (CCB), which indicates that concerns around regulatory headwinds and competition are not preventing businesses from harnessing the transformative power of M&A.

Cyprus unemployment further dropped to 6.5% in May 2019 from 6.8% in April and 8.3% in May 2018, recording the second biggest annual decrease in the EU, according to Eurostat.

Deposits in monetary credit institutions recorded an increase of 1.7% on an annual basis, data released by the Central Bank of Cyprus show.

Hellenic Bank said recently it has generated a first-quarter net profit of €14.9m on the acquisition of the co-op bank and de-risking its balance sheet.

The island’s economy has entered a new, promising period and the hardship suffered in previous years is history, Finance Minister Harris Georgiades said recently, addressing over 150 foreign entrepreneurs and investors in Limassol.

Bank of Cyprus announced recently the completion of the sale of €2.7b non-performing loans known as Project Helix for €2.1b.

Standing by their commitment of Building a Better Working World, which requires the support of exceptional people, EY Cyprus announces the appointment of Nicolas Pavlou as Partner and Katerina Mina, Sakis Moyseos and Panayiotis Thrasyvoulou as Associate Partners. The new Partners are expected to take up their new role as of July 1st, 2019.

Cyprus companies, active or start-ups, now have the opportunity to raise funding from three new programs, aiming to boost innovative entrepreneurship and help globalize innovative products and services.

Local energy giant Petrolina’s new fuel storage facilities at the Vassiliko hub will be ready by the end of 2019, with the company’s main shareholders hoping to utilise the vacated land on the Dhekelia road for commercial and property development.