Blog

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...
29/06/2018
At no point does a financial institution or lender want to have non-performing loans (NPL’s). When a lender loans a sum of money to another party, it is expected that the agreement will be fulfilled and the receiver of the loan will pay back in full including interest rate.The Cyprus News Agency (CNA) had followed and reported the progress of the merger of the Co-operative Bank in Cyprus and Hellenic Bank.The Co-operative Bank in Cyprus...

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