Cyprus’ banking sector has the sixth highest Liquidity Coverage ratio (LCR) in the EU, exceeding 200%, a European Bank Authority (EBA) report shows. The EBA report on liquidity measures notes that EU banks have continued to improve their LCR. “At the reporting date of 31 December 2017, EU banks` average LCR was 145% and the
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. We have reported before that one of the best investment returns are the villas to let (Airbnb), especially for popular localities such as the Famagusta region and to a lesser extent Paphos. Due to the increase of tourists and the lack of beds (so far), this “new” method of leasing, which on most occasions
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Cypriot consumers are in uproar over new increases in the price of electricity while environmentalists blame the situation on the government’s lack of a green energy policy. The price hike comes on top of other increases over the past few years, with electricity prices spiking by almost one third since October 2016. Consumers are to
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Businessman Photos Photiades, better known for starting the first Carlsberg brewery outside Denmark in 1969, died on Friday, aged 98. The patriarchal head of the Ph. Photiades Group started his professional career as a teacher but submitted to his entrepreneurial spirit to embark on his first retail and distribution business in 1942, aged 22.
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US energy giant ExxonMobil said on Friday it plans to begin test drilling for hydrocarbons offshore Cyprus later this year despite Turkey warning international firms against such moves. “Our plan is to drill some time in the fourth quarter, we haven’t got an exact date right now,” senior vice chairman of ExxonMobil Neil Chapman told
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Ankara has warned international energy companies not to bid for an exploration license in block 7 offshore Cyprus, claiming it belongs to Turkey. Turkey has reacted angrily to a decision by Nicosia to invite energy giants Total, ENI and ExxonMobil to bid for a new license to exploit oil and gas in block 7 of
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Hydrocarbons can be a catalyst for enhanced regional stability and should serve as an incentive to reach a Cyprus settlement, said Judith Gail Garber, nominee for US Ambassador in Nicosia. Garber told the US Senate Committee on Foreign Relations, if her nomination is confirmed, she would work to advance in Cyprus the fundamental US interest
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The first Cyprus Film Summit will be held in Nicosia on 10 October, bringing together 120 participants from around the world to promote the island as a film destination. The Summit is being organized by the Cyprus Investment Promotion Agency (Invest Cyprus), the Cyprus Tourism Organisation (CTO) and the Press and Information Office. This is
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Total new loans dropped 25.7% to €211 mln in August from €284.1 mln in the previous month as spending slowed, data released by the Central Bank of Cyprus showed on Thursday. The Central Bank said that new loans for consumption fell 27% to €12.7 mln, compared with €17.4 mln in July, whereas new loans for
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Cypriot employers are showing more trust towards graduates from local Universities despite many students going abroad to study, according to a survey conducted with the participation of 740 businesses. According to the results of the Stockwatch survey, the average score of the eight private and public universities rose to 7.55 out of 10 from 7.5
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