Business - Page 2

Cyprus bank deposits rise to €48 bln

Deposits in the Cypriot banking system registered a net increase of €191 mln in November rising to €48 bln according to data released by the Central Bank of Cyprus. Total deposits in

Cyprus hopes for Brexit with benefits

Cyprus is hoping to mitigate Brexit challenges while making the most of the UK’s withdrawal from the European Union with a trade deal after 47 years of membership. The last-minute deal between


Economic sentiment picks up in December

Economic sentiment in Cyprus improved in December, despite the worsening coronavirus situation, as the Economic Sentiment Indicator (ESICypERC) increased by 2.8 points to 81.3 from November, the same level as in August

Cyprus passports were given away like confetti

Cyprus handed out ‘golden passports’ to shady foreign investors because it did not conduct the necessary due diligence through the now-discredited Citizenship for Investment Scheme. A 53-page report from a committee tasked


Larnaca deprived of multi-million development

While Larnaca anticipates landscape-changing developments, other projects have been cancelled with investors backing out such as the Russian who wanted to build a €170 mln luxury hotel on the seafront. Larnaca is

Cyprus courts Big Tech

Following the collapse of the discredited Citizenship for Investment Scheme, and the consequent loss of foreign funds in real estate, Cyprus has turned to tech firms as the next big thing. Stakeholders