However, the agency mentioned that Cyprus continues to stand out with a positive outlook.
Commenting on the report, government spokesman Konstantinos Letymbiotis said that this “is an irrefutable vote of confidence in the Cypriot economy, the government’s policies, and the collective efforts of the state and society, which are delivering tangible results”.
Letymbiotis also referenced the recent upgrade by Moody’s, which lifted Cyprus’ credit rating to ‘A3’, restoring the island to the ‘A’ grade for the first time since 2011.
The acquisition, which involves the legal and operational merger of the two banking entities, signals a new chapter in Cyprus’ financial sector.
Market analysts have praised the move, stating it reflects renewed confidence in the Cypriot banking system by institutional investors and regulatory authorities, which actively encouraged and approved the transaction.
In the presence of Limassol MPs, the president of the Limassol district office (EOA), the Limassol mayor, and members of the public, Panikos Hambas, the president of the society, outlined plans for reviving the cooperative movement in Cyprus.
“Conditions are now ripe for the establishment of a new cooperative bank,” he said.
A longstanding supporter, payabl.’s Group CEO, Ugne Buraciene, has served on TechIsland’s Board since 2023. Headquartered in Limassol, payabl. champions Cyprus’ potential as a global business and tech hub.
As a European fintech pioneer, it offers diverse payment solutions and fosters growth in local and international tech sectors.
TechIsland’s General Manager, Tanya Romanyukha, praised payabl.’s expanded support, underscoring its alignment with the association’s vision for a tech-driven Cyprus.
A Pasyxe announcement said Rousounides successful tenure had left “s strong legacy”.
Angelides will assume duties as of January 1, 2025.
The association said he has extensive experience in the hotel industry.
The event, held from November 5-10, 2024, served as an excellent opportunity to enhance Cyprus’ trade relations with China and other nations.
The Cypriot booth, managed by the Cypriot Trade Centre in Beijing on behalf of the Ministry of Energy, Commerce, and Industry, welcomed a large number of visitors, including consumers, entrepreneurs, traders, and officials from China and beyond.
It added that the sale would include “all the companies which make up the group”.
“Negotiations are in their final stages and official announcements will be made once they are completed,” it said.
Founded in 1999, Politis has the second-largest circulation of any Greek-language newspaper in Cyprus.
In an announcement, the service urges shoppers not to buy products simply because they’re on sale.
If there is a product or products they’re interested in, consumers should check the prices beforehand and then compare on the day.
The Cyprus Stock Exchange (CSE) ended Tuesday, November 26 with profits.
The general Cyprus Stock Market Index stood at 211.67 points at 13:04, reflecting an increase of 2.65 per cent.
The FTSE / CySE 20 Index was at 128.94 points, reflecting a rise of 2.72 per cent.
The total value of transactions amounted to €1.87 million at the aforementioned time during trading.
In terms of the sub-indexes, the main and investment firm indexes rose by 3.8 per cent and 10.47 per cent respectively. The alternative index fell by 0.24 per cent while the hotel index remained unchanged.
The biggest investment interest was attracted by the Bank of Cyprus (+0.45 per cent), Hellenic Bank (+0.43 per cent), Logicom (+8.67 per cent), Demetra (+10.65 per cent), and Mitsides (no change).
