With word on the street intensifying on a possible deal between banks in Cyprus, 2019 is likely to become a time of flux and change for the banking sector as it braces for game-changing shifts.

Cyprus and Portugal have underlined their wish to further enhance their cooperation in the sector of maritime transport during an official visit of Shipping Minister Natasa Pilides to Lisbon recently.

Over recent months the British High Commission has supported a series of Innovation Workshops delivered by the Northern Ireland Cooperation Overseas (NICO) in Famagusta, Kyrenia and Nicosia.

The Ministry for Tourism will work to render sports tourism an integral part of Cyprus’ tourist product, Deputy Minister Savvas Perdios said.

The European Central Bank has called on European banks with high NPEs to submit documents describing their strategy to bring down their non-performing loans.

The Cyprus economy may be demonstrating positive growth rates, but the persisting high levels of public debt and non-performing loans (NPLs) must be addressed, the Chamber of Commerce has said.

Hellas Direct, a next-generation insurance company, has teamed up with Bazaraki.com, the leading e-commerce online platform in Cyprus.

Despite its strong growth, the Cypriot economy still has key vulnerabilities, like the high level of bad debts, which could be compounded by the worsening external environment, EU officials said recently.

Cyprus has the second highest emigration rate in the EU, and the third highest immigration rate, according to a newly published Eurostat report.

Fitch Ratings has upgraded Hellenic Bank Long-Term Issuer Default Rating to ‘B+’ from ‘B’, the credit rating agency said recently.