Cyprus Deputy Minister for Tourism Savvas Perdios and Egyptian Minister for Tourism Rania al Mashat decided to step up their cooperation in the field of tourism, the Cyprus News Agency reports. Perdios met with Mashat on Monday in Cairo. The two officials have laid the groundwork for joint tourist packages which could bring the countries … Continue reading CYPRUS AND EGYPT TO FURTHER ENHANCE THEIR COOPERATION IN TOURISM
Larnaca’s Metropolis Mall has secured all the necessary licences and its construction is about to begin. South African development company Acsion Ltd is behind the 40,000 square metre shopping centre while ‘Iacovou Brothers’ is responsible for the project’s construction. Both the local authorities as well as Acsion Ltd have confirmed the latest developments. The Group … Continue reading CONSTRUCTION OF FIRST MALL IN LARNACA ABOUT TO BEGIN
The island’s biggest lender Bank of Cyprus has made a positive start to the year posting a €95 mln net profit for the first quarter of 2019, although NPLs still weigh heavy. The Bank reported a “good capital position”, as at 31 March 2019 the CET1 ratio was 14.9% and the Total Capital ratio was … Continue reading BANK OF CYPRUS POSTS EUR 95 MLN PROFIT IN 1Q 2019
The Cyprus Investment Promotion Agency (Invest Cyprus), recently held a business breakfast for the Indian companies operating in London. The business breakfast falls within the scope of Invest Cyprus’ mission to promote Cyprus as an investment destination and business hub, as well as the Agency’s broader effort to capitalise on the opportunities that arise from … Continue reading INDIAN BUSINESSES INTERESTED TO INVEST IN CYPRUS
Lanomex Co Ltd, the company behind “Larnaca Tower” project in the area of Finikoudes in Larnaca, has submitted the final environmental report to the Environmental Department for the erection of the two impressive towers that will transform Larnaca Real Estate & Development. One of the two multi-storey buildings of the already known project will operate … Continue reading LARNACA 30 FLOOR TOWER COMING SOON
Between 2016-2017, the number of high-growth enterprises increased by more than the EU average in 16 EU Member States, the spike was highest in Cyprus (57%). However, the absolute number of high-growth enterprises in Cyprus is relatively low (102 in 2016 and 160 in 2017). Slovenia came second (20%), followed by Finland (19%) the Netherlands … Continue reading EUROPE: CYPRUS SEES BIGGEST INCREASE IN HIGH-GROWTH ENTERPRISES
The euro area (EA19) seasonally-adjusted unemployment rate was 7.8% in February 2019, stable compared with January 2019 and down from 8.5% in February 2018. This remains the lowest rate recorded in the euro area since October 2008. The EU28 unemployment rate was 6.5% in February 2019, stable compared with January 2019 and down from 7.1% … Continue reading UNEMPLOYMENT IN CYPRUS DROPS TO 7.1%
Invest Cyprus (the Cyprus Investment Promotion Agency), accompanied by leading Cypriot companies active in the professional services and real estate development sectors, participated in the international MIPIM Exhibition (Marché International des Professionnels de l’ Immobillier), which took place at the Palais des Festivals in Cannes, France between 12-15 March. MIPIM is considered to be the … Continue reading PROMOTING CYPRUS AT THE MIPIM INTERNATIONAL PROPERTY EXHIBITION IN CANNES
Kanika Hotels & Resorts, one of Cyprus’ leading hotel groups, now celebrates the addition of the highly-anticipated luxurious 5-star Amavi hotel. Carving out novel territory as the first custom designed couples-only hotel on the sun-kissed island, the idyllic Amavi stands proud as the flagship of Kanika’s Made for TwoTM brand. As such, it heralds a … Continue reading AMAVI: CYPRUS’ FIRST COUPLES-ONLY HOTEL OPENS ITS DOORS
Fitch Ratings has upgraded Hellenic Bank (HB) Long-Term Issuer Default Rating (IDR) to B+ from `B` and Viability Rating (VR) to b+ from b. The Outlook on the Long-Term IDR is Stable. Moreover, it has affirmed Bank of Cyprus (BoC) Long-Term Issuer Default Rating (IDR) at B- and Viability Rating (VR) at `B-`. The Outlook … Continue reading FITCH UPGRADES HELLENIC BANK AFTER CO-OP DEAL
