Cyprus Business News

Cyprus has seen a slight improvement in IMD’s world competitiveness rankings, moving from 45th to 43rd place among 67 evaluated countries, according to an announcement by the University of Cyprus’ ...

Consulting and advisory firm PwC Cyprus this week announced the admission of two new partners, Petros Metaxas and Alexandros Papadopoulos, with the decision coming into effect on July 1, 2024. The company ...

International credit rating agency Standard & Poor’s (S&P) this week upgraded the long-term credit rating of the Bank of Cyprus to BB+ with a positive outlook. This ...

International credit rating agency Moody’s this week announced that it has initiated a review for a possible upgrade of all ratings and assessments of Hellenic Bank. According to the ...

The Central Bank of Cyprus (CBC) this week revised its forecast for the country’s GDP growth in 2024 to 3 per cent, up from the 2.8 per cent predicted in March, primarily ...

Cypriot state officials on Tuesday used their attendance at the annual general meeting of the Association of Cyprus Banks to call for a reduction in lending rates and a narrowing ...

Cyprus Deputy Minister of Shipping Marina Hadjimanolis has recognised the significant contributions of maritime agents to Cypriot shipping during an official dinner held on June 14 by the Cyprus Shipping Association. ...

The Republic of Cyprus on Tuesday announced the appointment of investment banks Citi, Deutsche Bank, Goldman Sachs Europe, and HSBC as advisors for the issuance of a new €1 billion 7-year ...

AstroBank CEO Aristides Vourakis on Tuesday was elected as president of the Association of Cyprus Banks for the next two years, with Antonis Rouvas, interim CEO of Hellenic Bank, stepping ...

Inflation, as measured by the harmonised index of consumer prices in Cyprus (HICP), has climbed to a six-month peak in May 2024, increasing by 3 per cent compared to the same month ...

The Paphos Regional Tourism Board (Etap) hosted on Monday partners of the SMARTIES for SMEs project, in a move that seeks to bolster the competitiveness and resilience of small and ...

Cypriot state officials on Tuesday used their attendance at the annual general meeting of the Association of Cyprus Banks to call for a reduction in lending rates and a narrowing ...

Cypriot investment platform Sophic, which is provided by Athlos Capital, has secured over 80 per cent of the latest issuance of Treasury Bills by the Republic of Cyprus for its clients, ...

Cyprus’ Construction Materials Price Index recorded a decrease of 1.32 per cent in May 2024, when compared to the same period from the previous year, according to a report released on Tuesday ...

The newly-established Cyprus Financial Literacy and Education Committee (CyFLEC) is set to implement the national strategy for enhancing financial literacy in Cyprus, according to an announcement released on Tuesday by ...

Tourist arrivals in Cyprus displayed a slight yet steady increase in May 2024, compared to the same month last year, with the primary markets sustaining robust performance levels, the Cyprus Statistical ...

Freedom Holding Corp. (FRHC), the parent company of Freedom24, this week reported record-breaking results for the fiscal year ending March 31, 2024. During this period, the holding company’s revenue doubled to $1.6 ...

Tourist arrivals in Cyprus displayed a slight yet steady increase in May 2024, compared to the same month last year, with the primary markets sustaining robust performance levels, the Cyprus Statistical ...

Hourly labour costs (total costs) in Cyprus saw a 4.9 per cent increase during the first quarter of 2024, when compared to the same period during the previous year, according to a ...

The Larnaca regional tourism board (Etap) on Monday announced that Larnaca has clinched the fifth spot in DiscoverCars.com’s survey of Europe’s top 20 most scenic driving destinations. This ...

Employment in Cyprus’ broad public sector exceeded 75,000 people in the first quarter of the year, reflecting an increase of 4.1 per cent, primarily due to a rise in employment within the ...

Cyprus’ general government recorded a surplus of approximately €600 million in the first quarter of 2024, reflecting a 58 per cent increase from the previous year, driven by revenue growth outpacing expenditure, according ...

The Finance Ministry is contemplating a return to financial markets in the near future, aiming to capitalise on the Cypriot economy’s positive momentum, which has been further reinforced by ...

Here are the top business stories in Cyprus from the week starting June 10: President of the Famagusta Hoteliers Association (Pasyxe), Panayiotis Constantinou, remains cautiously optimistic about the future of tourist ...