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The Deputy Ministry of Tourism recently launched a public consultation on Cyprus’ National Strategy for the Development of Diving Tourism, inviting stakeholders and the public to submit feedback before the strategy is finalised.
The Bank of Cyprus is expected to deliver another strong quarter, with analysts forecasting robust profitability and the potential for generous shareholder distributions, as Greek and Cypriot banks continue to benefit from credit expansion, resilient interest income and rising fee revenue.
Aircraft maintenance firm Bird Aviation announced on Wednesday that it has signed a long-term agreement with low-cost airline easyJet to provide scheduled aircraft maintenance services at its facilities in Larnaca, strengthening Cyprus’ position as a regional aviation maintenance hub.
Tourist arrivals to Cyprus surged in November, according to the state statistical service (Cystat), highlighting the sector’s continued strength a ...
Cyprus and Egypt are reportedly poised – perhaps even this week – to conclude an interstate gas export-import agreement.
The Central Bank of Cyprus said that following the upgrade of Cyprus’ sovereign credit rating to BBB- by Standard and Poor’s, Cypriot government securities have become again admissible for financial transactions in the Eurosystem.
Tourist arrivals reached a record high this August and in the first eight months of 2018, data released by the Cyprus Statistical Service recently show.
The upgrade of Cyprus’ sovereign rating back to investment grade by Standard & Poor’s after rating it junk for more than six years justifies the efforts of the past five years, the government said recently.
Non-performing loans in the Cypriot banking system rose by €13.9m in May 2018, to €19.9m, compared with April, mainly on households failing payments, the Central Bank said recently.
Hellenic Bank said it has agreed with the Finance Ministry to transfer another 4,559 overdraft accounts from the Co-op with a €21m balance and a limit of up to approximately €25m in an amendment of the agreement to acquire its operations signed on June 25, 2018.
There are 28 foreign banks operating in Cyprus.
Cyprus’ trade deficit shrank by 6.5% in the first seven months, to €2.4bn, mainly on a strong increase in exports which outstripped imports, the statistical service said.
A bill which will regulate the uncontrolled online rental of short-term accommodation moved a step closer to a vote in the plenary after recent discussion in the House Commerce Committee.
The economy expanded in the second quarter of 2018 by 3.9% compared to the same period of 2017, the statistical service said recently.
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