Blog

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,...
04/08/2018
The Cypriot government, following complaints voiced by European politicians and negative press coverage, revised its citizenship-through-investment scheme.Officially, since August 1, 2018, new regulations have been put in place. In the wake of the decisions taken in January for a tougher framework for controlling investor service providers, on Tuesday, July 31, the Cyprus Investment Services Provider's Register was published.The list of the...
31/07/2018
After conducting an amplitude of research on Cyprus’ economy, the Economic Research Center (ERC) of the University of Cyprus has concluded that the likelihood of economic growth in Cyprus is promising. The projected economic growth is 3.9%, indicating that the main contributing factors are low interest rates and inflation, foreign direct investment, and tourism.Through modernising Cyprus’ insolvency framework and as well as the...
20/07/2018
The rating agency described the sale of Bank of Cyprus UK as positiveBank of Cyprus announced last Tuesday it signed a binding agreement to sell Bank of Cyprus UK to Cyenergy Capital Limited, owned by a consortium of UK-based investors, a sale for a consideration of €117 million and a profit of €3 million.Rating Agency, Moody’s {https://www.moodys.com}, has described the sale of Bank of Cyprus subsidiary, Bank of Cyprus UK, as...

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