Bank of Cyprus named best bank, best investment bank
Bank of Cyprus was named the Best Bank and Best Investment Bank in Cyprus by Global Finance in 2024.
Cypriot economy
Twin banking honours for BoC at 2024 Global Finance awards
Global Finance named Bank of Cyprus the Best Bank and Best Investment Bank in Cyprus in its 2024 awards.
Cyprus showcased as investment destination in Middle East
Invest Cyprus showcased Cyprus as a reliable investment destination with a stable business environment and favorable tax regime during its participation in the Annual Investment Meeting (AIM) in Abu Dhabi.
InvestCyprus at AIM Congress in Abu Dhabi
Invest Cyprus participated in the Annual Investment Meeting 2024 in Abu Dhabi to promote Cyprus as an investment destination and gateway to the EU. The delegation, led by CEO Marios Tannousis, focused on attracting investments, creating job opportunities, and strengthening the Cypriot economy. They also visited Kuwait to discuss investment opportunities and challenges with high-profile officials.
Larnaca port: Strike cancelled as labour minister calls for dialogue
Discussions between the Minister of Labour, employer, and trade union representatives resulted in a commitment to engage in scheduled dialogues to resolve discrepancies and implement agreed-upon measures. The Minister emphasized the importance of cooperation among social partners to maintain stability in the country. The parties involved have agreed to participate constructively in the dialogue process with the aim of avoiding confrontations and achieving a mutually beneficial outcome.
Major developments underway in Cyprus
Cyprus is experiencing a significant development boom with billions of euros being invested in various projects, including infrastructure improvements, new marinas, hotels, medical centers, university buildings, golf courses, schools, and residential properties. These projects are expected to bring multiple benefits to the country, transforming its landscape and contributing to economic growth. Major investments include golf resorts like Limassol Hills and Eagle Pine, as well as marinas such as Larnaca Marina and the upcoming Paralimni Marina. Education-related developments are also underway, and road infrastructure projects across the island are crucial for improving residents’ quality of life.
Cyprus property market continues to be sustained by foreign buyers
Foreign buyers account for four out of ten property sales in Cyprus in the first quarter of 2024.
Growth rate slows in March , – CCLEI survey
The Cyprus Composite Leading Economic Index (CCLEI) saw a year-over-year decrease of 0.9% in March, indicating a slowing economy on the island.
CBC governor wants to address interest rate disparity
The newly appointed governor of the Central Bank of Cyprus, Christodoulos Patsalides, has expressed dissatisfaction with the interest rate disparity between lending and deposit rates in Cyprus.
Turkish Cypriot economy is not the worst in its history
Fact: Unemployment in Turkish Cyprus fell to 5.1 per cent in 2023, the lowest level since 2004, and the economy experienced a growth of 13.3 per cent in 2022, the fastest pace since the post-Annan Plan referendum period.