Bank loan restructuring up 400%

Loan restructurings recorded a 400% increase in the first six months of the year, reaching €1.4 bln, Cyprus Central Bank Governor Constantinos Herodotou told MPs. Herodotou, addressing Monday’s House Finance Committee on

Hoteliers fear labour shortages

Rising labour shortages across sectors of the economy, particularly in tourism, have hoteliers worried they will be unable to respond to increased tourist arrivals in 2022. The Association of Cyprus Tourist Enterprises

Take charge of your IBAN

The International Bank Account Number (IBAN) is a standard account number structured according to the specifications issued by the European Committee for Banking Standards (ECBS) and the International Organisation for Standardisation (ISO).


Cyprus vegan start-up

A Cyprus start-up company hopes to contribute to a food revolution, moving away from a meat-based diet to a more sustainable plant one, satisfying the taste buds of everyone. The Mighty Kitchen,

November inflation rises to 4.3%

Inflation in Cyprus kept rising to 4.3% in November due to the sharp increase in the price of electricity and petroleum products. According to the Statistical Service, in November, the Consumer Price

Hellenic Bank profits halved to €21 mln

Hellenic Bank saw its nine-month after-tax profits halved to €21 mln, from €40 mln in the same period last year, following a flat third quarter. It reported €8.2 mln in after-tax profits

BoC Q3 turnaround, NPLs dip further

Bank of Cyprus is on track to return to steady profits after it announced a third-quarter after-tax profit of €19 mln and a significant reduction in its non-performing loans. The bank reported

List of high tech firms grows

Courting Big Tech and Fintech firms is paying off; as more companies pack their bags to set up shop in Cyprus, Eurisko Mobility, active in digital transformation, announced plans to relocate. Eurisko

Black Friday off to slow start

Many retailers reported their Black Friday sales campaigns were off to an underwhelming start as inflation and the worsening coronavirus landscape have taken their toll on consumer psychology. Shopkeepers were banking on

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