In its announcement, the bank detailed key measures such as interest rate reductions and a customer rewards programme, aimed at reducing loan servicing costs to borrowers.
“We have implemented significant measures over the past months to mitigate the challenges brought about by elevated market interest rate fluctuations,” the bank said.
It added that “these actions aim to lower the cost of loan servicing and offer tangible benefits to borrowers”.
The EY Attractiveness Forum also addressed key economic challenges and opportunities, bringing together a number of influential stakeholders. This included investors, government officials, and a number of business leaders.
Ronald Attard, Country Managing Partner of EY Cyprus, emphasised the need for public-private collaboration to drive innovation and boost competitiveness.
He concluded that there is a growing optimism among investors community that Cyprus’ FDI is on a positive trajectory.
According to data published by the Cyprus Statistical Service (Cystat) on Friday, employment reached a total of 507,323 people during this period.
Of these, 454,850 individuals were employees, while 52,473 were self-employed.
The total volume of beer deliveries for November reached 2.12 million litres, a decrease from 3.16 million litres in November 2023.
Beer deliveries for the domestic market saw an even steeper decline, down by 33.7 per cent, totalling 1.96 million litres.
Exports, on the other hand, dropped by 23.2 per cent, amounting to 0.16 million litres, compared to 0.21 million litres in the same month last year.
This initiative, backed by the EU Recovery and Resilience Plan, seeks to promote energy-saving investments with a total budget of €24 million.
Applications will open on a date yet to be announced by the ministry.
Chief Scientist Demetris Skourides and Ambassador Nikos Panagiotou held high-level talks with leading Indonesian research officials in Jakarta, it was announced this week.
During the visit, Skourides met Laksana Tri Handoko, Chairman of the National Research and Innovation Agency of Indonesia (BRIN), at BRIN Headquarters.
“Cyprus is keen on strengthening its research excellence and innovation ecosystem,” Skourides said.
The new scheme is designed to support certified innovative companies in Cyprus by providing grants of up to €300,000.
Under the Boost scheme, certified companies can access grants covering up to 50 per cent of their secured equity-based investments, provided the investment is at least €200,000.
To assist interested parties, RIF will host an informative webinar on January 30, 2025, at 11:00 AM.
Over the first nine months of 2024, the index recorded a cumulative increase of 2.2 per cent compared to the corresponding period in 2023.
In September 2024, the Industrial Turnover Index reached 143.5 points, with 2021 acting as the base year set at 100 points.
The Cyprus Stock Exchange (CSE) ended Friday, December 6 with profits.
The general Cyprus Stock Market Index stood at 212.46 points at 12:20, representing an increase of 0.39 per cent.
The FTSE / CySE 20 Index was at 129.44 points, reflecting a rise of 0.40 per cent.
The total value of transactions amounted to €419,175 at the aforementioned time during trading.
In terms of the sub-indexes, the main, alternative and investment firm index rose by 0.43 per cent, 0.36 per cent, and 1.14 per cent respectively. The hotel index remained stable.
The biggest investment interest was attracted by the Bank of Cyprus (+0.9 per cent), Hellenic Bank (-0.21 per cent), Demetra (+1.18 per cent), Salamis Tours (no change), and Vassiliko Cement Works Public Company (+1.24 per cent).
