AstroBank grows by 55% by acquiring USB Bank

In conformity with its growth strategy, AstroBank Limited announced that it has signed an agreement with USB Bank PLC to acquire the banking business including the staff of USB, exclud [...]

MARKET TRENDS
|
BY Elena Economou
|
Aug 07 2018

World’s largest passenger plane drops in to Larnaca

The world’s largest passenger plane, an Airbus A380, landed in Larnaca early on Thursday after departing from Denmark at 8.15pm the day before. The plane, which ordinarily would be used to re [...]

EYE CANDY
|
BY Elena Economou
|
Aug 04 2018

Cyprus registers the largest annual unemployment drop in the EU

Unemployment rates in Cyprus further dropped to 8.2% (7.6% for males and 8.8% for females) or 35 000 individuals, in June 2018, from 8.3% in May 2018 and 11% or 47 000 in [...]

MARKET TRENDS
|
BY Elena Economou
|
Aug 01 2018

Cyprus’ interests defended at International Arbitration Tribunal

The Law Office has successfully defended Cyprus’ interests in the proceedings commenced by Marfin Investment Group (MIG) against the Republic of Cyprus at the International Arbitrati [...]

MARKET TRENDS
|
BY Elena Economou
|
Jul 30 2018

Trade unions endorse VRS for 900 employees in the CCB

Trade Unions PEO, SEK and PASYDY endorsed on Thursday a voluntary retirement scheme (VRS) for 900 employees of the state-owned Cyprus Cooperative Bank (CCB) in the context of a deal [...]

FINANCE
|
BY Elena Economou
|
Jul 27 2018

Hellenic Bank: CPC gives green light for the acquisition

Hellenic Bank announced that it has received clearance of the Acquisition by the Commission for the Protection of Competition (“CPC”) of the Republic of Cyprus. According to a st [...]

FINANCE
|
BY Elena Economou
|
Jul 26 2018

Town Planning permit issued for Geroskipou

The Town Planning and Housing Department has approved a permit application from ATUM Developments Ltd to build on a plot of land in Geroskipou. Town Planning Permit PAF/412/2017 conce [...]

MARKET TRENDS
|
BY Elena Economou
|
Jul 25 2018

Agreement for operation of 'satellite casino' at Larnaka Airport

Hermes Airports Ltd and Integrated Casino Resorts Cyprus Ltd (ICR Cyprus) announce the signing of a commercial agreement with which the airport operating company provides ICR Cyprus wi [...]

MARKET TRENDS
|
BY Elena Economou
|
Jul 24 2018

FinMin: Assures of government's commitment to balanced budget

Minister of Finance Harris Georgiades has assured the leadership of the Fiscal Council of the government`s firm commitment to balanced budgets and the avoidance of any fiscal deficits. [...]

FINANCE
|
BY Elena Economou
|
Jul 23 2018

Moody’s: Cyprus broadens capital-gains tax waiver, a credit positive for banks

Rating agency Moody’s says in its weekly “Credit Outlook” that extension of the government’s waiver of the 20% capital- gains tax to all properties sold when proceeds are used [...]

FINANCE
|
BY Elena Economou
|
Jul 20 2018