Cyprus Business News

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’ ...

The Cyprus Securities and Exchange Commission (CySEC) has approved Logicom’s public offer to acquire up to 100 per cent of Demetra Holdings’ issued share capital, it emerged on Wednesday. According ...

President Nikos Christodoulides this week said that Cyprus’ industrial sector’s “vast potential” has yet to be fully exploited. Speaking at the official dinner of the Agios Athanasios Industrialists’ Association ...

Cyprus-based Aloha Browser on Wednesday reported an impressive surge in European downloads, experiencing up to 15-fold growth in the year following the implementation of the EU’s Digital Markets Act (...

The economic climate in Cyprus registered a slight improvement in February 2025, the Economics Research Centre of the University of Cyprus (CypERC) reported this week. Specifically, the Economic Sentiment Indicator (ESI) ...

The Cyprus property market displayed stabilising trends in the fourth quarter of 2024, according to the RICS Cyprus Property Price Index by KPMG Cyprus, which tracks real estate price trends across ...

PwC Cyprus this week released the findings of its 14th Annual CEO Survey, revealing a significant increase in business leaders’ confidence in the local economy. The survey, presented at the ...

The Cyprus Borrowers Association (Syprodat) this week released a statement describing the “immediate and effective implementation of measures to tackle high living costs and secure a better future for young ...

The agreement for the sale of Ermes Department Stores’ investment in Superhome Centre DIY was finalised on Monday. In a statement issued by Ermes today, following its previous announcement on ...