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Invest Cyprus chairman Evgenios Evgeniou addressed foreign investors at the 13th Invest Cyprus International Investment Awards in Nicosia on Wednesday, reaffirming the organisation’s commitment to working with the international investment community to build a more diversified and innovative Cyprus.
Chief Scientist Demetris Skourides recently completed a high-level business visit to the United Arab Emirates, according to an announcement just released.
Property sales in Cyprus recorded an annual increase of 17 per cent in June, driven by a 44 per cent surge in Larnaca, while Nicosia posted the smallest gain at just 2 per cent, according to data released by the land registry.
Cyprus is growing as a top choice for foreign direct investment (FDI) in Europe, said Invest Cyprus CEO Marios Tannousis. Tannousis addressed an i ...
Cyprus’ economy expanded 4% in the first quarter of 2018 compared to the respective three-month period last year and 1% compared to the quarter before, the statistical service said recently.
Third Point LLC, the US hedge fund which is Hellenic Bank’s largest shareholder is in talks with prospective investors to sell its 26.2% stake in the Cypriot lender, Bloomberg reported recently.
The reduction of non-performing loans (NPLs) by Cypriot banks has picked up pace, international ratings agency DBRS has said adding that it expected to see further progress.
Inflation was up by 1.3% in Cyprus this May on an annual basis, data released by the Cyprus Statistical Service show.
The Cyprus Cooperative Bank and Hellenic Bank have made progress in their negotiations for the acquisition of the Co-op’s operations and the two sides are likely to reach an agreement in principle within the next days, the Cyprus News Agency (CNA) reported recently.
The US and Cyprus have entered a new level of relations in the field of energy, especially after the third licensing round with ExxonMobil signing an exploration and production sharing contract for block 10 of the island’s EEZ, Disy leader Averof Neophytou said
The Finance Ministry and the Central Bank of Cyprus recently presented political parties with proposals to resolve the non-performing loans problem by improving the current legislative framework as banks are running out of time, participants said.
The International Monetary Fund (IMF) said that it expects economic growth in Cyprus to pick up at 4% this year and 4.2% next year even as risks related to the high-stock of NPLs undermine the economy’s prospects.
Building permits increased an annual 27% in the first quarter of 2018 and 30% in terms of construction area and value, to 378,933 square meters and €410.4m respectively, driven by investment in commercial projects, the statistical service said.
The number of property transactions rose an annual 10% in May, to 828, the highest in 2018, on a strong increase in Nicosia and Famagusta, the land department said.
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