Cyprus Business Now
Deputy Minister of Tourism Kostas Koumis this week addressed the growing need for foreign workers in Cyprus’ tourism sector, attributing it to the surge in tourist arrivals exacerbating labour shortages.
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Cyprus residents’ bank deposits rise by €318.5 million
The Central Bank of Cyprus (CBC) on Friday reported an increase in both loans and total deposits within the Cypriot banking system for March 2024.
According to the CBC, liquidity, measured ...
Cyprus tourism “cannot do without foreign labour”
Deputy Minister of Tourism Kostas Koumis on Friday acknowledged that the Cypriot tourism sector is in need of foreign workers, noting that the increase in tourist arrivals has further exacerbated ...
Invest Cyprus to spearhead campaign to bolster country’s reputation
President Nikos Christodoulides this week expressed confidence in Cyprus’ ability to successfully the current global climate, dominated by uncertainty and instability, despite numerous regional and geopolitical developments.
He also stated ...
CBC sets reference interest rate at 11.42 per cent
The Central Bank of Cyprus (CBC) has calculated the reference interest rate at 11.42 per cent, exercising the powers granted to it by Article 314A of the Criminal Code Law, Chapter 154.
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Cyprus Business Now
Hellenic Bank on Thursday announced that it has entered into exclusive negotiations and a put option with CNP Assurances for the acquisition of its subsidiary CNP Cyprus Insurance Holdings Limited, ...
Bank of Cyprus enacts €25 million share buyback
The Bank of Cyprus on Thursday announced new stock acquisitions, having obtained a number of ordinary shares worth €0.10 each from its appointed trader, the Cyprus Investment and Securities Corporation (CISCO), ...
CSE to introduce new government bonds worth €25 million
The Cyprus Stock Exchange (CSE) this week announced its acceptance of the introduction of government bonds to the market, in accordance with Article 58(1) of the Cyprus Securities and Stock Exchange ...
Keo posts €10.7 million profit in 2023
Cypriot beverage company Keo this week released its financial results for the fiscal year 2023, showcasing substantial growth in both turnover and profits compared to the previous year.
According to the ...
Hellenic Bank confirms talks to acquire CNP Cyprus for €182 million
Hellenic Bank on Thursday announced that it has entered into exclusive negotiations and a put option with CNP Assurances for the acquisition of its subsidiary CNP Cyprus Insurance Holdings Limited, ...
Bank of Cyprus issues €300 million green bond — 120 institutional investors express interest
The Bank of Cyprus on Thursday announced the successful launch and pricing of €300 million in green senior preferred notes under its EMTN Programme.
According to an official announcement by the ...
Cyprus research centre spearheads medical diagnostics project
The Cyprus Research and Innovation Centre (CyRIC) recently announced that a groundbreaking lab-on-chip platform, named MultiLab, has been developed to meet the growing demand for small, versatile sensors that can ...
Borrowers association calls for support against rising costs
The Cyprus Borrowers Association (Syprodat) this week released a statement urging the government to enact targeted measures to combat rising costs, endorsing the positions of political parties Disy and Akel ...
Cyprus Business Now
Hellenic Bank is reportedly on the verge of finalising a deal with French insurer CNP Assurances to acquire its insurance operations in Cyprus, it emerged on Wednesday.
Citing sources within ...
Helikon Investments increases stake in Bank of Cyprus
London-based investment fund Helikon Investments Limited has raised its stake in the Bank of Cyprus, according to an announcement by the bank.
The Italian investment fund disclosed that its voting ...
Cyprus travel expo attracts more than 10,000 visitors
The 25th edition of the Travel Expo Cyprus, held from April 19th to 21st at the Cyprus state fair grounds, welcomed more than 10,000 visitors, both local and international, who were ...
Hellenic Bank reportedly close to insurance company acquisition
Hellenic Bank is reportedly on the verge of finalising a deal with French insurer CNP Assurances to acquire its insurance operations in Cyprus, it emerged on Wednesday.
Citing sources within ...
Project to align higher education with job market — 13,000 businesses to take part
The Department of Higher Education of the Ministry of Education is set to implement a project aimed at linking the country’s higher education with the labour market, according to ...
Cyprus Business Now
President Nikos Christodoulides on Tuesday addressed the Cyprus Employers and Industrialists Federation (Oev), during the federation’s annual general meeting, where he reiterated the government’s support for the local ...
President reiterates support for businesses — wants to “turn challenges into opportunities”
President Nikos Christodoulides on Tuesday addressed the Cyprus Employers and Industrialists Federation (Oev), during the federation’s annual general meeting, where he reiterated the government’s support for the local ...
Cyprus Business Now
Cyprus’ Composite Leading Economic Index (CCLEI) fell by 0.9 per cent in March 2024, when compared to the same month from the previous year, according to a report released on Monday by ...
CBC confirms May bank holidays
The Central Bank of Cyprus (CBC) has released a statement notifying the public of scheduled closures for all banks on several upcoming dates.
The closures are as follows:
Wednesday, May 1, 2024: ...
CBC governor wants to address interest rate disparity
The newly appointed governor of the Central Bank of Cyprus (CBC) Christodoulos Patsalides has deemed today’s interest rate disparity between lending and deposit rates in Cyprus unsatisfactory, suggesting various ...
Cyprus government records €918.7 million surplus in 2023
The Cyprus government recorded a fiscal surplus of €918.7 million in 2023, constituting 3.1 per cent of the Gross Domestic Product (GDP), with government debt reaching €23.03 billion, accounting for 77.3 per cent of GDP, ...