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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 ...
Government Spokesman Nikos Christodoulides has said that negotiations on the Cyprus problem are at one of their most critical junctures, since all chapters will be thoroughly discussed by September 14, 2016, during the UN-led talks.
Lending became more affordable for bank customers in Cyprus as interest rates for new loans to households and corporations dropped in July 2016, the Central Bank of Cyprus said.
Cyprus is trying to expedite development of an offshore gas field with a view to supplying the Egyptian market, Energy Minister Yiorgos Lakkotrypis said recently.
Capital Intelligence, the Limassol-based rating company, said that it affirmed Cyprus’ B+ long-term foreign currency sovereign rating, maintaining their positive outlook threatened by substantial risks.
Energy Minister Yiorgos Lakkotrypis and Egypt’s minister of Mineral Resources Tarek El Molla recently signed an agreement for the transport of Cypriot natural gas to offshore and onshore installations in Egypt.
Cyprus’ major banks reduced their overall stock of NPLs in June 2016 by almost €1.9bn, or 7.8%, in the first six months of 2016 to €22.3bn, according to an analysis of bank data.
Cyprus’ consumer price index fell in August 2016 0.4% compared with the respective month of 2015, following an annual deflation rate of 0.2% in July, the statistical service said recently.
Unemployment in Cyprus continues to decline from 11.8% in June 2016 to 11.6% in July of the same year, according to Eurostat – which translates to 1,000 fewer persons being unemployed.
Cyprus’ revenue from tourism rose 16% year-on-year in June, to €301m, boosted by an almost 23% annual increase in arrivals, the statistical service said recently.
Eurobank Cyprus Ltd said that it generated an after-tax profit of €20.1m in the first half of 2016, compared to a profit of €39.1m in January to December 2015.
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