News

Cyprus banking: a number of contradictory announcements

Large Cyprus banks keep releasing contradictory announcements with regards to the banks’ workforce, teetering between plans of hiring new employees and providing early retirement of the existing staff members.


To sell or not to sell? Cyprus' Non Performing-Loan deadlock

Troika has made a decision to not allow borrowers to repay their loans at a discounted price, however without the immediate agreement of the DIKO party, the issue leads the Government towards to a deadlock and a plan overturn.


Cyprus to broaden economic activities with China

The President of Cyprus reiterated the government’s aim to support the development of business & economic relations between Cyprus & China.


Cyprus places in top 10 for improved economic reforms

According to a recent report by the World Bank’s Doing Business, Cyprus ranks 47th in the overall 2016 Ease of Doing Business.


Cyprus economy blooming following a 3 years’ drought

Last Friday, Fitch upgraded Cyprus’ long term foreign and local currency issuer default rating exponentially to B+ from B- previously, with “a positive outlook” for further recovery in the future.


Cyprus is a well-known regional financial hub

Cyprus is planning to introduce tax incentives to attract high net worth fund Managers, as well as reducing the personal income tax rate by half of those who earn over €100.000 a year.


Figures released show total number of Cyprus companies registered in 2015

The economy in Cyprus is definitely starting to grow. During 2013, Cyprus faced a big challenge in the Banking sector; however, it managed to successfully recover from the crisis with statistics showing that the economy is growing.