Total deposits in the Cyprus banking system amounted to €47.53b in January 2019 marking a net reduction of €342.7m compared to December, data released by the Central Bank of Cyprus (CBC) showed.

MTN Cyprus and Chinese telecoms giant Huawei have agreed on a strategic cooperation on the development of a 5G network in Cyprus, initially through a joint research programme and then using a commercial set of services.

Cyprus faces ‘excessive’ budgetary imbalances, the European Commission said recently in its winter package report approved by the College of Commissioners and presented in Brussels by Vice-President Valdis Dobrobowski, Commissioner Moscovici and the Commissioner Tysen.

A 5% increase in turnover of retail trade in 2018 has encouraged local and foreign businesses to invest in the Cyprus sector.

When it comes to e-commerce Cyprus business is lagging behind most of Europe with web sales below the EU average at only 3% turnover putting it among the bottom four.

Taxation for the first phase of the NHS is due to start on March 1 2019, while the first phase of the system is expected get underway on June 1.

President Nicos Anastasia's will soon receive a delegation of ExxonMobil, headed by its vice president Tristan J. Aspray, to be briefed on the findings in plot 10 of the island’s exclusive economic zone.

Environmental authorities have turned down an application for a golf resort in the Ayia Napa area because of the negative irreversible effects on the natural environment.

An agreement seems to have been reached between Greece’s Marfin Investment Group (MIG) and real estate investment company NBG Pangaea for the acquisition by the latter of the Hilton Cyprus, reports said recently.

Despite recent record years Cyprus’ tourism continues to face great challenges due to geopolitical developments, recession and competition from neighbouring countries, speakers at the 41st annual conference of the Cyprus Hotel Association (Pasyxe) said recently.