* Dogged by NPLs, provisions hiked to €1 bln * The Bank of Cyprus said it will more than double its provisions for 2015 to EUR 1 bln, effectively resulting in an
* Charting of sub-sea route ready in 100 days; vessel embarks on survey for 2,000MW link * The EuroAsia Interconnector project has commenced its implementation, with the research vessel launched from Limassol this
Energy Ministers Yiorgos Lakkotrypis of Cyprus and Yuval Steinitz of Israel have agreed to meet again in a month’s time to continue discussions on a Framework Agreement for the joint exploitation of
The Cyprus economy is expected to continue on its recovery path over the next quarters, with real GDP forecast to grow at a pace of 2.7% this year, according to a University
Foreign Minister Ioannis Kasoulides told members of parliament that Cyprus can play an important role in Europe’s energy security due mainly to four factors, which need to co-exist. Speaking before the
The business environment registered significant improvement in Cyprus last year, according to the World Bank’s annual “Doing Business Report 2016” presented by the Cyprus Investment Promotion Agency (CIPA), in the presence of
Small countries like Estonia and Cyprus need to focus on services in order to be wealthy and prosperous, the Baltic state’s visiting Prime Minister, Taavi Roivas, said during a lecture at the
* “More and better opportunities to support Europe’s future generations” * In its first year, Erasmus+, the enhanced EU programme for education, training, youth and sport with a budget of over EUR
* Lexus Centre upgraded with 30% growth target * Having celebrated its 50th anniversary in the Cyprus market last year, the local Toyota distributor plans to reach new milestones in 2016, a
While the recovering economy is supporting loan recoveries and depositor confidence, Bank of Cyprus’ (deposits Caa3 stable, baseline credit assessment caa3) and Hellenic Bank’s (Caa2 stable; caa3) extremely weak loan quality will
