Cyprus Business News

Artificial Intelligence (AI) is set to transform both the business and maritime sectors, according Christina Orphanidou, Director of Engineering, AI, and Data at Deloitte. Speaking at the recently held Capital ...

The European Investment Bank (EIB) has directed €225 million into improving Cyprus’ infrastructure, focusing on sectors such as transport, social infrastructure, student housing, and energy. During a presentation of the EIB’...

Eurobank has announced a cash dividend of 10.5 cents per share and a €288 million share buyback programme as part of its financial results for 2024. The bank’s three-year plan aims for ...

The legal merger between Eurobank and Hellenic Bank is expected to be completed within the first quarter of 2025, with the final step, the operational merger, scheduled to take place over ...

The Mall of Cyprus on Friday announced the sale of its Annex 3 office building to Karakyr Properties Ltd, a member of the E-Cars Group, for €4.6 million. It should be noted ...

Cyprus’ banking sector is undergoing significant changes, with recent mergers reshaping the financial landscape, according to a report from Stockwatch. At the same time, Cypriots are paying the highest mortgage ...

Total bank deposits in Cyprus recorded a net decrease of €211.3 million in January 2025, following a significant net increase of €977.4 million in December 2024, according to the Central Bank of Cyprus (CBC). ...

A Cypriot fintech company is playing a role in the digital transformation of Greece’s mortgage market through a partnership with Attica Bank. Ask Wire, which specialises in real estate ...

Cyprus’ petroleum product sales saw a slight dip in January 2025, falling by 2.9 per cent from the previous year to 106,552 tonnes, according to the Cyprus Statistical Service (Cystat).    Despite the overall ...

The Industrial Production Index for January–December 2024 increased by 3 per cent, compared to the same period the year before, according to a report from the Cyprus Statistical Service (Cystat). Among ...

Hellenic Bank on Thursday reported a net profit of €383 million for the full year 2024, highlighting its strong financial performance and solid capital position. “2024 was a landmark year for Hellenic Bank ...

Alpha Bank on Thursday announced a binding agreement to acquire the total assets and liabilities of AstroBank Public Company Ltd for €205 million, a move strengthening its presence in the Cypriot ...

Cypriot startups are set to receive a significant boost with €26 million in funding secured by venture capital firm 33East in partnership with the European Investment Fund (EIF). The fund aims ...

Hellenic Bank on Thursday reported a net profit of €383 million for the full year 2024, highlighting its strong financial performance and solid capital position. “2024 was a landmark year for Hellenic Bank ...

Unemployment in Cyprus fell to 4.6 per cent in the fourth quarter of 2024, according to a report published by the Cyprus Statistical Service on Thursday. The number of unemployed people stood ...

The Famagusta branch of the Cyprus Hoteliers Association (Pasyxe) together with the local tourism board (Etap), celebrated the successful conclusion of their online campaign ‘Live Unforgettable Moments’. The campaign, which ...

The future of Cyprus’ tourism industry depends on sustainable development, according to Association of Cyprus Tourist Enterprises (Stek) president Akis Vavlitis. The Stek president on Thursday explained that “while the ...

Cyprus has leapt nine places in the 2024 StartupBlink Ecosystem Index, marking it as the fastest-growing startup ecosystem within the European Union, the Research and Innovation Foundation (RIF) has reported. According ...

Hellenic Bank made payments totalling €13.7 million in 2024 to Logicom Solutions Limited and its subsidiary, NewCytech Business Solutions Ltd, according to an announcement following the bank’s preliminary financial results for ...

The Cyprus Securities and Exchange Commission (CySEC) on Thursday released a practical guide on maintaining effective and efficient sanctions screening systems. The guide incorporates the latest findings from CySEC’s ...

The Environment Department has approved the request by Napa Rock Estates Ltd for modifications and extensions to the existing Tasia Maris Hotel in Ayia Napa, with an estimated cost of €1.2 ...

President Nikos Christodoulides on Tuesday announced his intention to introduce sweeping tax reforms. Speaking at an event held to present the government’s proposals at the presidential palace, he promised ...

The prospect of developing joint travel packages for markets such as China and the USA was a key topic of discussion when Deputy Tourism Minister Kostas Koumis met with Greece’...

Cyprus is involved in the efforts for the next step in medical technology at the European level, according to Chief Scientist Demetris Skourides. “The use of a ‘virtual human twin’ ...