Cyprus Business News

Paphos hoteliers are pessimistic about the volume of guests they will see in the coming weeks, citing low visitor numbers, based on the reservations they have recorded so far. President ...

Cyprus Chamber of Commerce and Industry (Keve) president Stavros Stavrou, along with members of the chamber’s executive committee, on Thursday met with the UN Secretary-General’s recently appointed envoy ...

The Consumer Protection Service (CPS) and the Advertising Control Agency (ACA) this week signed a 5-year memorandum of understanding (Mou), aiming to inform consumers about the commercial pursuit of posts ...

Shuna Group, an international investment company, recently hosted a three-day event in Larnaca, showcasing the opportunities for investing in the city’s real estate sector, with this initiative receiving support ...

The Cyprus Shipping Chamber (Kne) this week held a meeting focused on the regulatory framework governing the EU Emissions Trading System (EU ETS), which came into effect on January 1, 2024. The ...

“In the realm of digital and business transformations, the path to success is fraught with challenges, with a startling reality that 70 per cent of these initiatives fail”, said Andreas Papadopoulos, ...

For yet another year, Cablenet has achieved double-digit revenue growth. Specifically, in 2023, it reached €74.3 million compared to €63.9 million in 2022, translating to a 16.2 per cent increase. This growth is largely attributed ...

Eurobank has surpassed initial expectations with its financial results for the year 2023, setting the stage for a robust business plan spanning 2024 to 2026, with the aim of positioning the group as ...

The Council of Ministers has greenlit a forward-thinking budget aimed at facilitating the installation of electric car chargers in businesses. “This initiative is strategically designed to address the burgeoning demand ...

Employment in the broader public sector witnessed a notable annual increase in Q4 of 2023, rising by 2,765 people, or 3.8 per cent, compared to the corresponding quarter of 2022. According to Cystat, the ...

The Famagusta Tourism Board (Etap) and businesspeople of the district were at the “ITB BERLIN 2024” international tourism exhibition, held last week, in an effort to promote bookings in Germany. Giorgos ...

The Cyprus economy has showcased its strong resilience, in a particularly difficult period recording, “comparatively one of the highest growth rates in the European Union,” said Dr Giorgos Mountis, CEO ...

Finance minister Makis Keravnos expressed satisfaction with the eurozone’s fiscal policy orientation for 2025, as Cyprus’ conservative fiscal approach was already in line with it. He added that the joint ...

Eurozone finance ministers decided to gradually phase out energy support measures in 2024 in favour of fiscal prudence, aimed at reducing government deficits. The gradual abolition of energy support measures was ...

According to the Cyprus Statistical Service (Cystat) report ‘Registration of Motor Vehicles’ for the period January-February 2024, vehicle registrations increased by 45 per cent. Furthermore, the share of electric vehicles has reached 3.1 ...

Cyprus saw a significant reduction in its trade deficit, which stood at €566.5 million in January 2024, according to the Cyprus Statistics Service Cystat. This was a marked decline compared to €1.419.9m ...

The Deputy Minister of Shipping, Marina Hadjimanoli said Cyprus was committed to attracting young people to the maritime profession as well as more women as part of its effort to ...

Finance Minister Makis Keravnos is in Brussels for the Eurogroup meeting at which ministers are set to discuss macroeconomic developments and prospects in the Eurozone. Their focus will be on ...

REALTYon, the only event in Cyprus dedicated to the entire property industry, is returning for its second edition, with a further-reaching direction and an exciting agenda of topics. Scheduled to ...

Here are the top business stories in Cyprus from the week starting March 4: Recently, consulting and advisory firm PwC Cyprus hosted a significant event to present its annual report on ...

The fourth quarter of 2023 witnessed a notable surge in Cyprus’ overall employment, recording a 1.1 per cent increase compared to the same period in 2022. According to data released this week by ...

Eurobank Cyprus on Friday released its financial results for the year 2023, posting an after-tax profit of €199.4 million, reflecting a significant increase of 111 per cent over the previous year. In addition, ...

By Theodoros Zachariadis The European Union adopted the European Climate Law (Regulation (EU) 2021/1119) in 2021, which requires the EU to reach net zero emissions in 2050 – that is, if emissions still exist, ...

The Cyprus general government recorded a surplus of €455.9 million in January 2024, equivalent to 1.4 per cent of the GDP, according to the preliminary fiscal results released on Friday by the Statistical ...