Capital Intelligence Ratings has affirmed the long-term foreign currency rating (LT FCR) and short-term foreign currency rating (ST FCR) of Hellenic Bank at ‘BB-’ and ‘B’, respectively, as well as a ‘stable’
Bank of Cyprus announced after-tax profits of €4 mln in the third quarter, somewhat easing the pain of €122 mln in losses during the nine months, while its chief executive warned of
The European Bank for Reconstruction and Development (EBRD) will end its engagement in Cyprus at the end of 2020 after completing a six-year mandate in which it invested about €600 mln. The
Retailers are turning to online sales to make the most of the few opportunities left, unable to lure consumers to brick and mortar shops, especially after the coronavirus has almost cancelled Christmas
Economic sentiment in Cyprus weakened in November from a deterioration in the construction sector as well as consumer confidence dipping. According to a survey by the Economics Research Centre of the University
Consumers hoping to land a Black Friday bargain are urged to do their homework before reaching into their pockets at malls, electronic goods stores or purchasing online. Shoppers are lured by ad
Cyprus’ state budget 2021 is not affected by the recent surge of coronavirus cases which has led to a local lockdown of Limassol and Paphos, triggering more financial support for employees and
In an effort to boost sales, retailers hit by coronavirus measures will prolong Black Friday discounts for a week while promoting online purchases. In comments to website Stockwatch, chairman of the Cyprus
Tackling non-performing loans (NPLs) remain at the heart of economic policy with a stable legal framework on foreclosures and an effective insolvency process, the Finance Ministry said. It said there was “enormous
Cyprus is the first EU member-state to benefit from low-cost financing of €479 mln from the SURE facility to protect the labour market from the adverse impact of the coronavirus pandemic, the
