Cyprus business & economy daily wrap-up
The Central Bank of Cyprus (CBC) has reported a rise in interest rates on consumer loans, which increased to 6.67 per cent in July, up from 6.18 per cent in the previous ...
Saudi minister visits Limassol’s Eurogate terminal
Saudi Arabia’s Transport Minister Saleh Al Jasser visited the Eurogate Container Terminal in Limassol this week to review its upgraded infrastructure and operations.
According to Eurogate, During the visit, ...
Cyprus development expenses hit 29 per cent of budget
The implementation rate of development expenses from the state budget stood at 29 per cent at the end of July, according to a report by the Treasury.
This is slightly higher ...
Ministry launches new round of rural tourism scheme
The Deputy Ministry of Tourism this week announced the launch of the second round of its grant scheme for the revival of rural, mountainous, and remote areas.
The scheme is ...
Cyprus registered unemployed decrease by 8.9 per cent in August
The number of registered unemployed individuals in Cyprus decreased by 8.9 per cent in August 2024 compared to the same month in 2023.
According to a report released on Wednesday by the Cyprus ...
Cyprus admin services lead second quarter growth, real estate up 10.5 per cent
Administrative, support and real estate services in Cyprus performed well during the second quarter of 2024, according to the latest services turnover value index report.
Specifically, according to the Cyprus Statistical ...
Cyprus consumer loan rates increase in July
The Central Bank of Cyprus (CBC) has reported a rise in interest rates on consumer loans, which increased to 6.67 per cent in July, up from 6.18 per cent in the previous ...
KV Fund invests €300,000 in Paphos startup
Darefore, a Paphos-based startup founded by brothers Marios and Panayiotis Kyriakou, has been incorporated into the KV Fund portfolio.
According to an official announcement released this week, the company’s ...
Cyprus business & economy daily wrap-up
The Cyprus property market saw apartments emerge as the preferred choice among buyers during the second quarter of 2024, according to a report released on Tuesday from the Cyprus Real Estate ...
Rising costs push Cypriot property buyers towards apartments, estate agents say
The Cyprus property market saw apartments emerge as the preferred choice among buyers during the second quarter of 2024, according to a report released on Tuesday from the Cyprus Real Estate ...
Cyprus petroleum sales increase by 4.6 per cent in July
Cyprus saw an increase in the sales of petroleum products during July, which totalled 134,484 tonnes, marking a 4.6 per cent increase compared to July 2023.
According to a report released on Tuesday ...
Globeducate expands Cyprus presence with acquisition of Olympion
Globeducate, one of the world’s leading K12 education groups, this week announced the acquisition of Cypriot educational group Olympion.
This notable group of private Greek schools, situated near Nicosia, ...
Cyprus lagging behind in EU recovery fund requests
The European Court of Auditors on Tuesday raised concerns about the slow absorption of the Recovery and Resilience Facility (RRF) funds across the European Union, warning of potential risks to ...
Cypriot AI startup raises €1 million in pre-seed funding
Cypriot startup Placy has secured €1 million in pre-seed funding, according to an announcement released on Tuesday.
The company provides an AI-powered virtual companion that aims to reshape how real estate ...
Cyprus business & economy daily wrap-up
Saudi Arabian Transport Minister, Saleh Bin Nasser Al-Jasser, on Monday visited DP World Limassol’s general cargo and cruise terminal, where he discussed avenues for further cooperation in areas of ...
Saudi Transport Minister visits Cyprus, discusses future collaboration
Saudi Arabian Transport Minister, Saleh Bin Nasser Al-Jasser, on Monday visited DP World Limassol’s general cargo and cruise terminal, where he discussed avenues for further cooperation in areas of ...
Cyprus GDP reaches €6.61 billion in Q2 — construction, ICT, finance key sectors
The Cypriot economy grew by 3.6 per cent in the second quarter of 2024, compared to the same period in 2023, according to a report released this week by the Cyprus Statistical Service (...
Bank of Cyprus completes 41 per cent of share buyback programme
The Bank of Cyprus completed approximately 41 per cent of its maximum share buyback programme value by the end of August, according to an announcement by the bank.
The announcement noted ...
Cyprus retail trade grows in July
Cyprus’ retail sector experienced growth in July, according to a report released on Monday by the Cyprus Statistical Service (Cystat).
According to the report, the retail trade turnover value index ...
What did Cyprus discover at Mission Possible?
The European Researchers’ Night, under the motto “Mission Possible,” drew thousands of visitors to the Cyprus state fair on September 27, offering an insight into research, innovation, and science.
Organised by ...
Cyprus industrial producer prices index rose in July
Cyprus’ Industrial Producer Prices Index (PPI) experienced a 0.9 per cent increase in July 2024 compared to the previous month, reaching 124.2 points, according to a report from the Cyprus Statistical Service (Cystat).
...
Financial institutions react to the FinTech challenge
By George Markides, George Kassinis, Andreas Soteriou
Over the past two decades, financial technology (FinTech) has transformed the established financial sector by introducing more efficient and innovative methods of providing ...
Cyprus Business Now: weekly wrap-up
Here are the top business stories in Cyprus from the week starting August 26:
Starting with the economic landscape, the value of Cypriot bonds held by the Eurosystem has decreased to €6.38 ...
Cyprus Business Now
Hellenic Bank on Friday posted a profit after tax of €189 million for the first half of 2024, marking an 18 per cent increase compared to the same period during the previous year.
...