PwC Cyprus adds two new partners
Consulting and advisory firm PwC Cyprus this week announced the admission of two new partners, Petros Metaxas and Alexandros Papadopoulos, with the decision coming into effect on July 1, 2024.
The company ...
S&P upgrades Bank of Cyprus’ credit rating to BB+ with positive outlook
International credit rating agency Standard & Poor’s (S&P) this week upgraded the long-term credit rating of the Bank of Cyprus to BB+ with a positive outlook.
This ...
Moody’s reviews Hellenic Bank for potential upgrade
International credit rating agency Moody’s this week announced that it has initiated a review for a possible upgrade of all ratings and assessments of Hellenic Bank.
According to the ...
Central Bank of Cyprus revises GDP growth forecast to 3 per cent — increased domestic demand cited as key reason
The Central Bank of Cyprus (CBC) this week revised its forecast for the country’s GDP growth in 2024 to 3 per cent, up from the 2.8 per cent predicted in March, primarily ...
Cyprus Business Now
Cypriot state officials on Tuesday used their attendance at the annual general meeting of the Association of Cyprus Banks to call for a reduction in lending rates and a narrowing ...
Fisker’s ride from Tesla competitor to bankruptcy
Fisker filed for bankruptcy protection late on Monday, becoming the latest electric-vehicle startup to collapse after Arrival and Lordstown Motors in a tough market dominated by Tesla and Chinese automakers.
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Ford plans further job cuts in Europe, according to council
Ford (F.N) plans further job cuts in Germany, Spain and the UK, the head of the worker’s council for the US automaker in Germany told Reuters on Tuesday.
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Hadjimanolis acknowledges maritime agents’ contribution to Cyprus shipping
Cyprus Deputy Minister of Shipping Marina Hadjimanolis has recognised the significant contributions of maritime agents to Cypriot shipping during an official dinner held on June 14 by the Cyprus Shipping Association.
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Cyprus to issue new €1 billion 7-year bond
The Republic of Cyprus on Tuesday announced the appointment of investment banks Citi, Deutsche Bank, Goldman Sachs Europe, and HSBC as advisors for the issuance of a new €1 billion 7-year ...
AstroBank CEO Aristides Vourakis takes helm at Cyprus banking association
AstroBank CEO Aristides Vourakis on Tuesday was elected as president of the Association of Cyprus Banks for the next two years, with Antonis Rouvas, interim CEO of Hellenic Bank, stepping ...
Cyprus inflation hits six-month high in May
Inflation, as measured by the harmonised index of consumer prices in Cyprus (HICP), has climbed to a six-month peak in May 2024, increasing by 3 per cent compared to the same month ...
Paphos tourism board to distribute €375,000 to 15 local businesses
The Paphos Regional Tourism Board (Etap) hosted on Monday partners of the SMARTIES for SMEs project, in a move that seeks to bolster the competitiveness and resilience of small and ...
Cyprus state officials convey ‘cries of anguish’ over high lending rates at banks association AGM
Cypriot state officials on Tuesday used their attendance at the annual general meeting of the Association of Cyprus Banks to call for a reduction in lending rates and a narrowing ...
Sophic secures over 80 per cent of Cyprus Treasury Bills for clients
Cypriot investment platform Sophic, which is provided by Athlos Capital, has secured over 80 per cent of the latest issuance of Treasury Bills by the Republic of Cyprus for its clients, ...
Cyprus construction material prices fall in May
Cyprus’ Construction Materials Price Index recorded a decrease of 1.32 per cent in May 2024, when compared to the same period from the previous year, according to a report released on Tuesday ...
Cyprus financial literacy committee to implement national strategy
The newly-established Cyprus Financial Literacy and Education Committee (CyFLEC) is set to implement the national strategy for enhancing financial literacy in Cyprus, according to an announcement released on Tuesday by ...
Cyprus Business Now
Tourist arrivals in Cyprus displayed a slight yet steady increase in May 2024, compared to the same month last year, with the primary markets sustaining robust performance levels, the Cyprus Statistical ...
Asking prices for UK houses stagnate in June, Rightmove says
Asking prices for British homes coming to the market were flat this month, adding to signs of a recent cooling off in the housing market upswing, a survey from property ...
Standard Chartered loses bid to cut US sanctions breach claims from UK lawsuit
Standard Chartered on Monday lost a bid to cut from a London lawsuit allegations that it broke US sanctions against Iran in a more widespread way than it has previously ...
Global gasoline refining margins slump on slow summer driving season
Oil refiners are making less money selling their gasoline as demand during the peak summer driving season has fallen short of what they expected when many of them boosted production.
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Freedom Holding Corp. doubles revenue to $1.6 billion in record fiscal year
Freedom Holding Corp. (FRHC), the parent company of Freedom24, this week reported record-breaking results for the fiscal year ending March 31, 2024.
During this period, the holding company’s revenue doubled to $1.6 ...
Cyprus tourist arrivals rise in May — UK leads the way
Tourist arrivals in Cyprus displayed a slight yet steady increase in May 2024, compared to the same month last year, with the primary markets sustaining robust performance levels, the Cyprus Statistical ...
Cyprus hourly labour costs rise by 4.9 per cent in first quarter
Hourly labour costs (total costs) in Cyprus saw a 4.9 per cent increase during the first quarter of 2024, when compared to the same period during the previous year, according to a ...
Larnaca ranks fifth in Europe’s most scenic driving destinations
The Larnaca regional tourism board (Etap) on Monday announced that Larnaca has clinched the fifth spot in DiscoverCars.com’s survey of Europe’s top 20 most scenic driving destinations.
This ...