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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, Italy, Greece and Israel agreed recently to back the construction of a gas pipeline from newly discovered fields in the eastern Mediterranean to Europe.
The countercyclical capital buffer (CCyB) rate for the period 1 January 2018-31 March 2018 has been set at 0%, the Central Bank of Cyprus said recently.
A new research centre on Interactive media, Smart systems and Emerging technologies (RISE) has opened in Nicosia – it is hoped the centre will rejuvenate a deprived area, very close to the buffer zone.
The number of property transactions rose an annual 39% in November to 906, the highest figure this year, the Department of Lands and Surveys said.
DBRS Ratings Limited (DBRS) has confirmed Cyprus’ Long-Term ratings at BB (low) and changed the trend to positive from stable, according to a recent announcement.
Cyprus continues to be a highly competitive centre for international businesses, despite the economic difficulties the country faced in the last few years, President of Cyprus Nicos Anastasiades has said.
Finance Minister Harris Georgiades said the Cypriot economy will expand 4% this year, up from a previous forecast of 3.5%, and will continue growing an average 3% over the next three-year period.
Bank of Cyprus said recently it will outsource the management of up to €800 million in non-performing loans to Australia’s Pepper Europe (UK) Ltd as part of a ‘strategically important’ agreement after it got the go-ahead from its board of directors and its workers’ union, Etyk.
The Central Bank of Cyprus said it fined RCB Bank €800,000 citing the Russian-owned lender’s failure to comply with provisions of anti-money laundering legislation.
The euro area (EA19) seasonally-adjusted unemployment rate was 8.8% in October 2017, down from 8.9% in September 2017 and from 9.8% in October 2016.
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