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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 ...
Revenue from tourism rose in October 18% to €266m compared to the respective month of 2015, the statistical service said.
An extraordinary shareholders’ general meeting of the Cooperative Central Bank (CCB) approved the lender’s merger with the 18 separate cooperative saving banks (CSBs) it administers,the bank said.
Deposits in the Cyprus banking system registered a net increase of €358 million in November 2016, whereas loans recorded a marginal decline, figures released by the Central Bank of Cyprus (CBC) show.
Greece’s largest lender Piraeus Bank said that it had completed the sale of a majority stake in its Cyprus subsidiary to Holding M. Sehnaoui SAL for €3.2m, reducing its stake to 17.7%.
Representatives of the three successful bidders in Cyprus’ third energy licensing round are meeting with Energy Minister Giorgos Lakkotrypis to jot down plans for negotiations early next year.
A deal has been struck between the consortium holding the marine services concession at the port of Limassol and EDT Offshore, allowing French oil major Total to drill its first exploratory well on schedule.
The unemployment rate dropped in the third quarter of 2016 to 13%, compared with 14.8% in the respective period of 2015 and 12.1% in the second quarter, the statistical service said.
The Finance Ministry said that it intends to issue by the end of 2016 a decree defining the obligations of multinational enterprises on the 'country-by-country' reports.
The Central Government Debt increased by €670m, reaching €19,38b at the end of September 2016, from €18,71b at the end of June 2016, according to provisional figures released by the Public Debt Management Office of the Ministry of Finance.
This past year was an overall good year for the Cyprus economy, with a fairly high likelihood that 2017 will be positive as well, according to the Bank of Cyprus Economic Research department.
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