Cyprus Business News

Hellenic Bank on Tuesday announced a further reduction in the reference rate for all loans linked to the European Central Bank’s (ECB) base rate. Specifically, the interest rate has ...

Cypriot banks are expected to prioritise new lending in 2025 and beyond, as they seek to offset the impact of lower interest rates and capitalise on a historically low loan-to-deposit ratio. ...

Deputy Shipping Minister Marina Hadjimanolis strengthened Cyprus’ maritime ties with Oman by signing two crucial Memoranda of Understanding (MoUs) this week in Muscat. These agreements focus on maritime cooperation and ...

Bank cards remain the most widely used payment method in Cyprus by total transaction volume, according to the Central Bank of Cyprus’ (CBC) latest payment statistics report. The report, which ...

The retail trade turnover index in Cyprus increased by 5.8 per cent in December 2024 compared to the same month in the previous year, according to data released by the Cyprus Statistical ...

Interest rates on deposits and loans in Cyprus and Greece vary significantly, with Cypriot banks generally offering lower deposit rates than their Greek counterparts, In addition, according to a report ...

The government on Monday announced the launch of a fast-track process for the issuance of building licences for certain types of residential units, saying the step would also go some ...

The protection of borrowers hinges not only on legal compliance but also on the social responsibility of banks and credit acquisition companies (CACs), according to Costas Melas, president of the ...

Deputy Minister of Innovation Nicodemos Damianou will meet with the Greek Minister of Digital Governance Dimitris Papastergiou in Athens this week, according to an announcement released on Monday. The two ...

Cyprus’ cruise sector is set for a significant upturn, expecting a 30 per cent surge in ship arrivals this year, according to Deputy Shipping Minister Marina Hadjimanolis. In addition, 139 vessels are ...

The National Bank of Greece (Cyprus) recently presented its activities in the Cypriot business environment during a conference held in Athens. In a speech delivered at the event, Marilena Sevastidou, ...

Non-profit social venture and think tank CyprusInno, powered by SocialTech Lab, has successfully concluded the 2024 Academy for Women Entrepreneurs (AWE) in Cyprus, according to an official announcement. Now in its ...

Cyprus’ industrial producer prices decreased by 1.9 per cent in 2024 compared to the previous year, according to the latest data from the state statistical service. The Producer Price Index (PPI) for ...

Here are the top business stories in Cyprus from the week starting January 27: The Limassol Chamber of Commerce and Industry (Evel) has called for a comprehensive and environmentally conscious approach ...

Kyndryl, the world’s largest IT infrastructure services provider, with a presence in Cyprus, hosted a well-attended event on Thursday, January 23, 2025, focusing on IT readiness and modernisation.  Themed “Navigating IT ...

The Bank of Cyprus on Friday announced that it has responded to the European Central Bank’s (ECB) interest rate reduction decisions, lowering its reference rate for loans linked to ...

Economic sentiment in Cyprus experienced a slight downturn in January 2025, with the Economic Sentiment Indicator (ESI-CypERC) decreasing by 0.6 points compared to December 2024. According to the Economics Research Centre of the ...

Parliament has approved the Cyprus Stock Exchange (CSE) budget for 2025, with 35 votes in favour and two abstentions. The budget is expected to run at a deficit of approximately €1.88 million. Specifically, ...

The Central Bank of Cyprus (CBC) has set the reference interest rate at 11.5 per cent, following the authority granted under Article 314A of the Criminal Code, Cap. 154. This new rate ...

Deputy Shipping Minister Marina Hadjimanolis is set to travel to the Sultanate of Oman on Saturday, February 1, according to an announcement released on Friday. This visit comes following an official ...

There was a 5.4 per cent increase in average gross monthly earnings for Cyprus employees in the third quarter of 2024, reaching €2,351, compared to €2,230 in the same period of 2023, according to the ...

The Cyprus Securities and Exchange Commission (CySEC) on Friday published a consultation paper setting out plans for financial entities regulated under DORA to pay an annual ICT oversight fee and ...

The Bank of Cyprus on Friday announced that it has responded to the European Central Bank’s (ECB) interest rate reduction decisions, lowering its reference rate for loans linked to ...

Finance Minister Makis Keravnos on Friday expressed satisfaction with the European Central Bank’s (ECB) decision to further reduce key interest rates by 0.25 per cent. In a written statement, Keravnos ...