Cyprus Business News

Samsung Electronics Co Ltd reported a likely 35 per cent drop in fourth-quarter operating profit on Tuesday, much worse than analysts expected as weak consumer demand persisted in many of its ...

According to a report released by the Cyprus Statistical Service (Cystat), in November 2023, Cyprus witnessed a notable 1.6 per cent increase in retail trade volume compared to October. This positive trend ...

In December, the Cyprus Statistical Service (CSE) reported an inflation rate of 1.6 per cent, slightly below Eurostat’s harmonised consumer price index, which recorded 1.9 per cent. This positions Cyprus with ...

In the third quarter of 2023, Cyprus experienced a notable increase in its current account deficit, reaching €517 million, compared to €399 million in the same period last year, according to preliminary data ...

Here are the top business stories in Cyprus from the week starting January 1: Mortgage-to-rent scheme a favourable arrangement, Hellenic Bank released on Tuesday a statement welcoming the recent launch of ...

The latest figures published by the Cyprus Statistical Service (CSE) on Friday, January 5, indicate a notable surge in tourism profits, witnessing an 8.3 per cent increase in October 2023, reaching €346.5 million. This ...

Minister of Finance Makis Keravnos, has confirmed that employees in both the public and private sectors, entitled to the Cost of Living Allowance (CoLA) will receive a 2.44 per cent wage ...

Cyprus’ registered unemployment figures witnessed an eight-month low in December 2023, according to seasonally adjusted data by the Cyprus Statistical Service (Cystat). According to the report, the number of registered unemployed ...

The Cyprus Investment Funds Association (CIFA) this week released a statement expressing an optimistic outlook for 2024, anticipating another favourable year for the investment funds sector in Cyprus, despite any challenges ...

Hermes Airports, which manages and operates Cyprus’ two international airports, on Thursday announced that it recorded a surge in passenger traffic during 2023, tallying over 11.6 million passengers by the end of ...

The cabinet on Thursday announced the new board of directors at the Natural Gas Public Corporation (Defa), the state-run entity with the exclusive rights to import and distribute natural gas ...

Director General of the Cyprus Shipping Chamber Thomas Kazakos said that there is an urgent need to address the Houthi attacks against ships sailing through the Red Sea, stressing that ...

In a proactive move aimed at fortifying the resilience of financial institutions against evolving cyber threats, the European Central Bank (ECB) has unveiled plans for a comprehensive stress test involving 109 ...

London-based firm Global Capital, which specialises in international capital markets, hailed Cyprus’ sustainable bond issuance of €1 billion in April 2023 as the top public-sector green and social bond for the year, ...

The economic climate in Cyprus worsened in December 2023, accompanied by increased economic uncertainty, according to a report released this week by the University of Cyprus’ Economic Research Centre (CypERC). According ...

Cyprus witnessed a significant surge in retail trade during November 2023, indicating promising growth within the sector, according to a report released this week by the Cyprus Statistical Service (Cystat). According ...

Hellenic Bank has rolled out a Sustainable Financing Framework, as part of its commitment to support the economy’s transition to sustainability, seeking to bring a long-term positive impact for ...

Restaurants and bars in the Larnaca district are content with the business they received during the Christmas and New Year holidays, according to Tony Konnaris, the district secretary of Pasika, ...

International credit rating agencies have confirmed the exact dates upon which they will announce the results of their evaluation of Cyprus’ economic standing in the coming year. It should be ...

Paphos hotels experienced a moderate occupancy rate in December, ranging between 35 and 40 per cent, according to Evripides Loizides, president of the Paphos Hoteliers’ Association (Pasyxe). Loizides also said that the ...

Cypriot banks saw a rise in deposits and loans during November 2023, according to the Monetary and Financial Statistics report, valid as of December 2023, released by the Central Bank of Cyprus (...

Consulting and advisory firm PwC Cyprus on Tuesday released its tax guide for 2024, providing a valuable source of information on the tax framework of Cyprus for 2024. According to the announcement, ...

Cyprus’ electronics and appliance market is expected to experience additional growth in 2024, according to John Vasilakos, Vice President and CEO of Kotsovolos – Dixons South East Europe. Speaking to local news ...

Hotels in the Famagusta district are expected to see occupancy rates ranging between 20 and 30 per cent during January and February, according to Panayiotis Constantinou, president of the Famagusta Hoteliers Association (...