growth rate

Cyprus based fintech exceeds $1 trillion in trading volume , — island praised for friendly business environment

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Cyprus based fintech exceeds $1 trillion in trading volume , — island praised for friendly business environment

Capital.com, a global trading platform and fintech group headquartered in Cyprus, announced that total client trading volumes exceeded .2 trillion in 2023, marking the first time volumes breached the trillion mark since the company’s establishment in 2016. The company was ranked as the number one fastest-growing technology company among 50 nominees in the 2023 Deloitte Tech Fast 50 rankings. Group CFO Ariel Segev praised Cyprus as a dynamic and thriving tech hub, stating that the country’s business-friendly ecosystem, deep talent pool, and facilitative legislation make it an ideal jurisdiction for tech scale-ups.

OECD upgrades global growth outlook as US outperforms

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OECD upgrades global growth outlook as US outperforms

The global economy is growing faster than expected, with the US activity being resilient and inflation converging quickly with central banks’ targets, according to the OECD.

Real economic growth to pick up in 2025, says UCy

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Real economic growth to pick up in 2025, says UCy

Real activity growth in Cyprus is expected to continue at a similar pace as in 2023 and gather momentum in 2025, with real GDP growth forecasted at 2.6% in 2024 and 3.3% in 2025. The growth forecasts have been revised up from previous estimates.

Cyprus residents, ’ bank deposits rise by €318.5 million

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Cyprus residents, ’ bank deposits rise by €318.5 million

The Central Bank of Cyprus reported an increase in both loans and total deposits within the Cypriot banking system for March 2024. The liquidity exceeded €27 billion, with total deposits seeing a net increase of €252.1 million. Cyprus residents’ deposits increased by €318.5 million, while total loans recorded a net increase of €133.1 million. The balance of total deposits in March of that year stood at €52.2 billion, and the balance of total loans reached €25.1 billion.

Cyprus sees Surge in deposits and loans in March

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Cyprus sees Surge in deposits and loans in March

In March 2024, total deposits in Cyprus increased by €252.1 million, with a total balance of €52.2 billion. Total loans also increased by €133.1 million, reaching a balance of €25.1 billion. Deposits from residents of Cyprus rose by €318.5 million, while loans to Cypriot residents increased by €134.0 million.

President reiterates support for businesses , — wants to “turn challenges into opportunities”

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President reiterates support for businesses , — wants to “turn challenges into opportunities”

Fact: President Nikos Christodoulides addressed the Cyprus Employers and Industrialists Federation (Oev) during their annual general meeting and reiterated the government’s support for the local business community. He emphasized that businesses are the driving force behind economic development and highlighted the importance of cooperation between the public and private sectors to facilitate a better environment for businesses, promote innovation, and achieve sustainable economic growth.

Direct tax collections shoot past budget target by Rs 1.35 lakh cr in 2023-24 – Greater Kashmir

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Direct tax collections shoot past budget target by Rs 1.35 lakh cr in 2023-24 - Greater Kashmir

The net direct tax collections for the financial year 2023-24 exceeded the Union Budget Estimates by Rs 1.35 lakh crore or 7.4%, reaching Rs 19.58 lakh crore.

Growth rate slows in March , – CCLEI survey

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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.