Eurobank Cyprus announced on Friday that it is terminating negative interest rates on deposits held by legal entities.

Cyprus has achieved the biggest improvement in the field of innovation at the European level since 2015, according to the annual report of the European Innovation Scoreboard 2022 of the European Commission.

Kyndryl, one of the world’s largest providers of IT infrastructure services with offices in Cyprus, announced a new digital integration platform that gives businesses real-time access to valuable information around their complex IT infrastructure, and greater control than ever before in the ability to configure its critical functions.

Despite the war in Ukraine and the subsequent international sanctions imposed on Russia, the Central Bank of Cyprus sees no recession hitting the Mediterranean island this year, apart from the rising inflation which is already affecting consumers.

The Central Bank of Cyprus (CBC) on Thursday said that the Cypriot economy’s primary macroeconomic figures for the years 2022-2024 are favourable according to its projected medium-term forecasts, which were released this month.

The visit of Deputy Minister of Research, Innovation and Digital Policy Kyriakos Kokkinos to Romania has been branded a success. The delegation focused on discussing cybersecurity, digital transformation matters and creating a better bond between the entrepreneurial communities in both countries.

For the first time in its history, TUS Airways will start offering direct flights from Larnaca to Heraklion, Crete. The Larnaca - Heraklion route starts on December 16, with flights twice a week, Monday and Friday, and a fare from just €59 one way.

Almost 50,000 French tourists arrived in Cyprus by the end of August this year, and this is more than good news, according to the deputy minister for tourism Savvas Perdios.

The government has extended reduced excise duties on fuel until 15 January 2023 in a bid to alleviate the effects of soaring inflation driven by the war in Ukraine.

The adoption of the New Strategy for Attracting Business and Talent has led to an impressive increase in interest from foreign companies to establish their presence in Cyprus, said Interior Minister Nikos Nouris, noting that 5,475 applications were submitted in 2021, while by August 2022 the number of applications reached 7,883.