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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 ...
The Cyprus government has approved a bill providing for the establishment of a state-owned private company to offer aeronautical services, opening a new page in the field of air traffic control, Minister of Transport, Communication and Works Marios Demetriades said recently.
The state-owned Cooperative Central Bank said that it generated an after tax profit of €55m in the first six months of 2016 compared to €46.7m in the respective period of 2015.
Cyprus’ government had at the end of July 2016 almost €1.9bn deposited at the Central Bank of Cyprus, up from €976.4m the month before, the bank said.
Bank of Cyprus’ real estate management unit (REMU), assigned to manage properties acquired by the bank as part of loan restructuring agreements, increased its stock with assets in Cyprus worth €689m in the first half of 2016, the bank said.
The Board of Directors of Bank of Cyprus Public Company Ltd, decided toappoint Lyn Grobler as a Non-Executive member of the Board of Directors, subject to approval by the European Central Bank.
Hellenic Bank, Cyprus’ third largest lender, announced a net profit of €1.1m in the first six months of 2016, more than twice as much as it posted in the respective period of 2015.
Bank of Cyprus, the island’s largest bank, said that it generated an after-tax profit of €56m in the first half of 2016, as its profit in the second quarter shrank to €6m, in line with a profit warning issued on July 28.
A natural gas pipeline from the EEZ of Lebanon to Turkey would be much more economically beneficial and viable than a pipeline from Israel say Lebanon official circles, adding that Lebanon has its own natural gas deposits, on par with those of Cyprus, Israel and Egypt.
Legacy Laiki, the holder of assets that remained with the now defunct Laiki bank, reached an agreement with investors to sell its subsidiaries in Serbia, Russia and Ukraine, pending regulatory approval.
Bank deposits recorded a net rise in July 2016 for the fourth consecutive month, increasing by €1.13bn since March 2015, the Central Bank of Cyprus (CBC) said recently.
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