Eurobank is moving closer to a takeover of the island’s second-largest lender after solidifying its position as Hellenic Bank’s major shareholder acquiring another 3.2%, essentially buying out Senvest Management LLC. Combined with
A nascent, but promising innovation ecosystem, will get another boost as authorities gear up to launch the Cyprus Equity Fund, said the Finance Ministry. In an update to the House Finance Committee,
Retail sales during Christmas reached pre-pandemic levels, but small businesses’ turnover was below expectations and want government support. “It went very well, beyond our expectations, it was at satisfactory levels, similar to 2019, and we
Electric vehicle (EV) manufacturer Tesla is undergoing a turbulent moment recording a sharp decline in market capitalisation, as the company battles internal and external factors threatening its market dominance. One key driver
The landmark National Minimum Wage of €940 per month and €885 for the first six months of employment became active on January 1 by the decree of Labour Minister Kyriacos Koushos. Some
Over the last three years, Cyprus banks had struggled to deal with their past and unload non-performing loans from their balance sheets when governments were fighting the worst pandemic in a century.
The technology sector’s (ICT) contribution to the Cypriot economy is estimated to reach €3 bln this year, boosting its diversification and resilience. According to the latest data, more than 1,200 foreign companies,
The four international rating agencies have published their potential rating dates for Cyprus’ credit rating in 2023, where decisions could impact confidence. The ratings will take place in a year marked by
Cypriot start-ups no longer have to rely on banks to obtain finance, as a ground-breaking crowdfunding platform offers local entrepreneurs an alternative way to raise capital. In a first for Cyprus, Crowdbase,
Kassatly Group Holding, a major player in the regional beverage sector, will expand to Cyprus next year, boosting its manufacturing and exports while putting the island on the radar of other major
