Fitch Ratings has upgraded the Long-Term Issuer Default Rating (IDR) of the Bank of Cyprus (BoC) to BBB- from BB+, assigning a positive outlook. This marks a significant milestone for the bank, reflecting its strengthened financial position and the broader stability of the Cypriot banking sector. “The upgrade mainly reflects BoC’s improved asset quality from a reduced stock of legacy problem assets […]
Alpha Bank Cyprus this week presented its future strategy during a corporate event held at at the Four Seasons Hotel in Limassol. According to an announcement released on Tuesday, the bank said that it is “shaping the country’s banking landscape, strengthening the national economy, and solidifying its position as a rising force in the sector“. It added that the […]
Kykkos monastery is expected to proceed with a major new development on land it owns in Engomi, according to reports released on Tuesday. Spanning 331,450 square metres, the plan includes a five-star hotel, residential units, commercial spaces, office buildings, medical facilities, and educational institutions. In addition, it involves green areas and a large section reserved for parking spaces. According to […]
The 4th tournament of the FIDE Women’s Grand Prix 2024–2025 series began with the opening ceremony on Friday, March 14, in Cyprus’ capital Nicosia. Organised under the auspices of the International Chess Federation (FIDE) and the Cyprus Chess Federation, the event is supported by its main sponsor, Freedom24. Ten of the world’s top female chess players will […]
The Holy Synod will convene in an extraordinary session on 24 March to consider approval for a substantial development project in Engomi on land owned by the Kykkos Monastery. The proposed development spans a total area of 331,450 square metres, with construction planned across 324,855 square metres of the site. Kykkos Bishop Nikiforos will present the proposal […]
The Central Bank of Cyprus has upwardly revised its forecast for Cyprus’ GDP growth rate for 2025 by 0.1% to 3.2% compared to its December 2024 projections. At the same time, it has maintained its forecast for GDP growth in the period 2026-2027 at 3.1% annually.
Many hotels across Cyprus’ tourist areas have undertaken partial or extensive upgrades in recent years, despite challenges facing the tourism sector. Hotel industry representatives highlight that Cyprus relies on its high-quality hotel facilities and services to maintain competitiveness in the region. Christos Angelides, general director of the Cyprus Hoteliers Association (Pasyxe), told Stockwatch that there is “cautious optimism” for 2025, noting that […]
Cypriot citizens are one step closer to the dream of hassle-free travel to the United States, as final approvals near for Cyprus’ inclusion into the US Visa Waiver Program (VWP). The Cypriot authorities have already done all the necessary groundwork to secure the final green light from the US. A team of experts from the […]
Malaysia’s trade performance in 2024 continued to deliver outstanding performance, recording another milestone with trade reaching new heights. Trade, exports and imports rebounded in 2024 with trade amounting to RM2.879 trillion, an increase of 9.2 percent year-on-year, surpassing the RM2 trillion mark for four consecutive years. Similarly, exports exceeded RM1 trillion for four consecutive years, […]
COFCO Bio-Energy Co Ltd, a major Chinese state-owned food processing and trading conglomerate, Friday signed a memorandum of understanding (MoU) with Hang Harvest Agriculture Co Ltd, a local company based in Oddar Meanchey province, to purchase 200,000 tonnes of dried cassava. Lim Lork Piseth, Secretary of State of the Ministry of Commerce (MoC), presided over […]
Cypriot citizens are one step closer to the dream of hassle-free travel to the United States, as final approvals near for Cyprus’ inclusion into the US Visa Waiver Program (VWP). The Cypriot authorities have already done all the necessary groundwork to secure the final green light from the US. A team of experts from the […]
Despite the economic progress in Cyprus, financial literacy levels remain below the EU average, President of the Republic Nikos Christodoulides has said, noting that the government has set the issue of financial education as a major priority. Speaking at the 1st International Conference of the Cyprus Financial Literacy and Education Committee (CyFLEC) entitled “Financial Literacy […]
Analysts covering the Bank of Cyprus have significantly raised their price targets following the release of the bank’s preliminary financial results for 2024. All recent revisions indicate a more optimistic outlook compared to previous estimates. A key factor driving these upward adjustments is the bank’s updated profit distribution policy. In its preliminary results announcement, the […]
The highly anticipated InvestPro Cyprus Limassol 2025, organized by Bosco Conference, is set to take place on April 7, 2025, in the business hub of Limassol, Cyprus. This event will bring together top industry experts, corporate executives, financial advisors, and investors for a day of insightful discussions, networking, and business opportunities. InvestPro Cyprus Limassol 2025 […]
Here are the top business stories in Cyprus from the week starting March 10: Out of 741 tourist units preparing to reopen in Cyprus, only 100 have secured a licence, accounting for just 13.5 per cent of the total. According to data from the Deputy Ministry of Tourism, shared on Monday by Stockwatch, this licensing shortfall […]
Paphos has established itself as the leading Cyprus destination for Polish tourists during the first quarter of 2025, continuing a trend that began last year. According to official statistics, approximately 49% of Polish visitors to Cyprus now stay in Paphos, making Poland a crucial market amid uncertainties surrounding the return of Israeli tourists due to ongoing Middle East […]