The Central Bank has confirmed that its counterpart in Lebanon has decided to close the branches of Lebanese banks in Cyprus. Sources confirmed to CNA that the Lebanese Central Bank had closed
Supermarkets expect no goods shortages as the Ukraine war has not created dents in Cyprus’ supply chain, while competition is keeping prices in check. The executive secretary of the Pancyprian Supermarkets Association,
Investment funds increased from 257 in December 2021 to 273 in March, but their total assets decreased by 0.55% to €8.692 bln in March, €8.740 bln. According to the Investment Funds statistics from the
Cyprus banks are worried over growing tension between Hellenic Bank and its employees as the sector heads for strikes following HB’s decision to make 350 staff redundant. Hellenic, Cyprus’ second-largest commercial bank,
Big tobacco companies chose Cyprus among the first countries to launch their campaigns to reduce the health impact of their business by encouraging smokers to switch to less risky alternatives. As people
Bank of Cyprus posted after-tax €21 mln profits for the first quarter of 2022, compared to a net profit of €8 mln a year ago. It announced a record €618 mln in
The banking sector is in choppy waters after employees backed their union to strike over Hellenic Bank’s intention to make 350 staff redundant, while Bank of Cyprus is also cutting branches. The
The Cabinet has granted a 20% tax deduction for research and development expenses in a campaign to attract foreign investments and businesses to Cyprus. After Wednesday’s meeting, Minister of Finance Constantinos Petrides
The loss of tourists from Russia due to sanctions for invading Ukraine has taken its toll on tourism-dependent businesses, including car rentals in popular resorts like Ayia Napa. Car rental associations sound
Modernisation of state infrastructure and speeding up the adoption of cloud services in Cyprus are the main aims of a Memorandum of Understanding signed with Amazon Web Services (AWS). Deputy Minister of Research,
