Cyprus and the EU are expediting the process to transform the state-owned Asset Management Company (KEDIPES) into a nationwide AMG to launch a mortgage-to-rent scheme. The scheme will cover non-performing loans collateralised
The rate of non-performing loans in the Cyprus banking sector increased to 11.7% of total loans in January from 11.1% at the end of 2021, data released by the Central Bank of Cyprus on
An agreement with the European Investment Fund to manage a new financial instrument to support startups and innovation is seen as a milestone in the government’s effort to enhance alternative financing. Finance
Cyprus is the first EU state to report full 5G population coverage, even in remote mountainous areas, boasted the telecoms authority Cyta. Cyta’s announcement came after its 5G network reached the village
Hellenic Bank, Cyprus’ second-largest commercial bank, is reducing its staff by some 300-350 people to bring down operating costs. According to news site Stockwatch, Hellenic’s CEO Oliver Gatzke has sent letters to
The government will invest €15 mln in incentives for developers to build student accommodation in the old town of Nicosia to address a shortage in the capital, announced Interior Minister Nicos Nouris.
At Thursday’s “Stelios Bi-Communal Awards for Business Co-operation 2022”, Sir Stelios Haji-Ioannou awarded 10 bi-communal teams, 10 Greek Cypriot and 10 Turkish Cypriot business people, with the cash prize of €10,000. Participation
Cyprus’ oldest dairy producer, Charalambides Christis, has quietly taken over the local dairy products market while diversifying its brand. With a €129 mln turnover in 2021 and 3,200 local clients, Charalambides Christis
Car dealers are frustrated with their turnover as they are forced to sit back helpless and watch the market crumble. According to the Cyprus Statistical Services data, passenger saloon cars registered in
Cyprus business seems to have discounted a doom-and-gloom fallout from the war in Ukraine, with economic sentiment for April improving by 2.8 points but still below the level before Russia’s invasion. The
