Cyprus Business News

In June, the interest rates on deposits in the Cypriot banking system experienced the largest monthly increase since the European Central Bank (ECB) began its efforts to raise key interest ...

The Consumer Price Index (CPI) in Cyprus experienced a 1.5 per cent increase in July 2023, marking the slowest rate of inflation since March 2021, according to a report released this week by ...

The National Bank of Greece (Cyprus) this week released a statement in which it announced the appointment of Philippos Mannaris as an Independent Non-Executive Member and Chairman of the Board ...

There was a decrease of 6.8 per cent, totalling 958 individuals, recorded among the registered unemployed in Cyprus during July 2023, according to a report released this week by the state’s statistical ...

Cyprus bankers’ union Etyk this week released a statement conveying their positive outlook on the recent changes in the administration of Hellenic Bank, congratulating the interim Chief Executive Officer Antonis ...

Neocleous Tower invites corporations to discover the future of the workplace, with the launch of forward-thinking offices in central Limassol. Redefining the work lifestyle paradigm and setting a new standard ...

Cyprus saw its net new borrowing, excluding restructurings, reach €1.73 billion in the first half of 2023, showing a modest annual increase of 1.26 per cent, according to a report released this week ...

National flag carrier Cyprus Airways this week announced the appointment of Christos Limnatitis as the company’s new Chief Commercial Officer (CCO). According to the announcement, Limnatitis has previously worked ...

State-owned asset management company Kedipes on Thursday announced that in the coming days, it will be returning interest payments totalling €4.6 million to borrowers with restructured credit facilities for the first ...

In an effort to bolster the local research and innovation landscape, the Research and Innovation Foundation (R&I Foundation) on Thursday unveiled a new funding scheme worth €6 million. The ...

The Paphos district is making “intensive efforts” to upgrade and market its tourism experience, according to the Paphos regional tourism board (Etap) executive director Nasos Hadjigeorgiou. He said Paphos is ...

The Cyprus Real Estate Agents Registration Council on Wednesday noted that the local property market has performed better during 2023, although it looks forward to drawing more meaningful conclusions after the ...

The Cyprus Securities and Exchange Commission (CySEC) on Wednesday reported a positive growth trend in the Collective Investments sector for the first quarter of 2023, with the number of Management Companies ...

Debt management company Themis Portfolio Management this week announced the launch of a new initiative aimed at finding mutually acceptable solutions for vulnerable borrowers who have their primary residence valued ...

Restaurants and bars in Cyprus experienced occupancy rates ranging between 70 and 80 per cent in July, in another disappointing month for local business owners, according to Neophytos Thrasyvoulou, president of the ...

Eurobank Cyprus on Wednesday released its financial results for the first half of 2023, with the figures reflecting a solid performance characterised by strong capital adequacy and profitability. The bank’s ...

In an official statement released by Hellenic Bank this week, it has been confirmed that the bank has retained its position as the most adequately capitalised systemic bank in Cyprus, ...

The housing market in Cyprus experienced a notable upswing during the first quarter of 2023, as property prices continued to soar, particularly in the apartment segment, primarily driven by increased demand. ...

Cyprus’ retail trade boomed in June 2023, with both volume and value seeing a significant increase when compared to the same month in 2022. The Retail Trade Value Index rose by 8.4 per ...

In an unexpected move, Hellenic Bank on Tuesday announced that chief executive officer Oliver Gatzke will be stepping down from his position a year early. The decision comes after Gatzke ...

Cyprus has recorded a fiscal surplus of €155.5 million, equivalent to 0.5 per cent of GDP, during the first half of 2023, according to the latest preliminary results, released on Monday by the ...

The Central Government of Cyprus saw its total debt rise to €23.83 billion as of June 30, 2023, according to a report by the state’s Public Debt Management Office. The latest figures ...

The Bank of Cyprus Group on Monday released a statement in which it confirmed that it has successfully completed the EU-wide stress test for 2023. The announcement by the bank explained ...

Cyprus witnessed a significant surge in private debt during the first quarter of 2023, reaching a staggering 218 per cent of the country’s Gross Domestic Product (GDP), amounting to €60.1 billion, according ...