Blog

21/09/2018
In a move that’s been hailed by Cypriot authorities as a testament to the island’s steady return to growth, Standard & Poor’s has upgraded Cyprus’ sovereign rating by assigning it a BBB- last Friday. The news of Cyprus’ return to investment grade, comes after more than six years of S&P having downgraded the Cypriot rating to junk.In its announcement, S&P explained the rationale behind its decision in...
14/09/2018
Andreas Eliades’ controversy over both the legal aspect and the rationale for the decision was expressed by General Prosecutor Kostas Clerides, who was asked to comment on the Supreme Court's acquittal, following a similar appeal register.Mr Clerides said that "the Legal Service is working to ensure that, in the context of investigating the causes of the collapse of the financial system in Cyprus, wherever possible criminal...
12/09/2018
In recent years, Turkey has been one of the fastest-growing economies in the world, even outperforming economic giants China and India.In the second quarter of 2018, the country reported 7.22 percent growth in its gross domestic product (GDP).Nevertheless, the free fall in the Turkish Lira of the past months, has sparked fears of an economic fallout that could spread over to other emerging markets and the banking systems in Europe.The expansion...
19/08/2018
Achilleas Amvrosiou, one of the leading figures behind the Artemis system and the CEO of the company which manages the system, is excited to introduce the new digital banking age to Cyprus. The Artemis system is an AI which uses algorithms to decide how credible and reliable an individual is, when applying for a loan.The AI project, Artemis commenced in 2009. At the time, the Central Bank had asked that all banking data be recorded in Artemis,...
10/08/2018
2018 and still Cyprus’ heavy industry is not the promising startups ecosystem, nor the shipping sector but tourism.During the “heart of summer”, the the airports along with the beaches and the hotel’s pools of the island are literally “sinking”.Everyday hundreds of flights, to and from Cyprus, are made and thousands of tourists are traveling through the two airports.According to Hermes Airports statistics,...

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