News

Cyprus tax revenues down by 3% from 2013

From January to July this year, the tax revenues have dropped compared to this time last year. Whilst it is only by 3% (€973.2m in total for 2014, and €1.002b for 2013) there have been significant drops in income tax paid by both public and private sector employees alike. The state collected €71,851m…


Hellenic Bank is following Bank of Cyprus

Following Bank of Cyprus which introduced extra measures to support customers who are facing difficult times because of the recession, Hellenic Bank also offered its customers more favourable terms of the loan repayment. “Hellenic Bank addresses the issue of non-performing loans in a way that supports,…


Bank of Cyprus supports its customers who are facing difficult times

The recession in Cyprus had a bad impact on jobless people, low income families and small businesses. Bank of Cyprus (BoC) decided to help and introduced extra measures to support customers who are facing difficult times because of the recession. The Bank said that unemployed individuals with housing…


Russian embargo – a chance for Cyprus to find new markets?

The Russian embargo could be a good chance for Cyprus to find new importers. Cyprus Agriculture Minister Nicos Kouyialis suggested that some products affected by the Russian embargo on the EU would be sold to other markets. One of the potential markets is the United Arab Emirates. Traders from the United…