Cyprus Business News

The Cyprus Employers & Industrialists Federation (Oev) this week expressed its satisfaction with the approval of the Grants Scheme for Energy Upgrade and Competitiveness Enhancement for Large Enterprises. The proposal, ...

Finance Minister Makis Keravnos on Wednesday announced that the Cabinet has approved the revision of the strategic plan aimed at attracting foreign businesses to Cyprus. The revised strategy, according to ...

Cruise industry giant Royal Caribbean Group announced on Wednesday that it is now hiring members of staff based in Cyprus for its cruise ships, with a diverse set of roles ...

The Association of Large Investment Projects on Wednesday released a statement saying that large-scale projects, with a total value exceeding €8 billion, will take centre stage in Cyprus’ economic development journey ...

The Cyprus Chamber of Commerce and Industry (Keve) on Tuesday announced a state-of-the-art online course through its I-STARS (Innovative Strategies, Training, and Resources for Sustainability) project. According to the announcement, ...

Bank of Spain governor Pablo Hernández de Cos on Tuesday said that the European Central Bank (ECB) will proceed with cutting interest rates, without, however, specifying the timeline for ...

The Larnaca regional tourism board (Etap) announced on Tuesday that its participation in several European programmes will ultimately help to boost specialisation and professional qualifications in Cyprus’ tourism and hospitality ...

The share of renewable energy sources in transport in Cyprus stood at 7.2 per cent in 2022, without significant change compared to 2021, according to a report released this week by Eurostat, the ...

Paphos regional tourism board (Etap) representatives are visiting the city of Faenza, Italy, under the framework of the Interreg Euro MED European programme, titled ‘MED-Routes’, for the opening meeting of ...

Short-term rental properties are increasing in popularity in Cyprus, quickly becoming a mainstay in the accommodation choices of both travellers and locals, according to Yiannis Kotzias, general manager of operations ...

Consulting and advisory firm PwC Cyprus this week announced that it hosted another successful ACCA Award Ceremony, held at the organisation’s Experience Centre, in the presence of Philippos Soseilos, ...

The number of registered unemployed individuals in Cyprus saw a significant decrease of 12.3 per cent on an annual basis in January 2024, according to a report released this week by the ...

The Cyprus Securities and Exchange Commission (CySEC) has announced that it recently reached settlement agreements with two Cypriot companies, the Cyprus Trading Corporation, and Woolworth (Cyprus) Properties. In both instances, ...

Here are the top business stories in Cyprus from the week starting January 29: In maritime affairs, the Cyprus Shipping Chamber (Kne) announced on Monday that it is marking 35 years of ...

The Cyprus Chamber of Commerce and Industry (Keve) and the Cyprus Bank Association this week reached a preliminary agreement to collaborate on joint initiatives and public outreach concerning matters of ...

Cyprus experienced a modest uptick in inflation in January 2024, with a 1.7 per cent increase compared to a 1.64 per cent rise in December 2023. The annual inflation rate for January 2023 had reached 7.11 ...

Cyprus’ retail sector experienced a notable surge during 2023, with a remarkable 8.9 per cent increase in the value of turnover, according to a report released this week by the state’s ...

The Commission for the Protection of Competition (CPC) approved on Friday Eurobank’s bid to acquire Hellenic Bank’s share capital. The decision was taken with a majority vote in ...

The Cyprus Shipping Chamber (CSC) on Friday expressed its appreciation for the re-appointment of Deputy Director General Alexandros Iosifidis as a Goodwill Maritime Ambassador at the International Maritime Organisation (IMO), ...

The Association of Cyprus Tourist Enterprises (Stek) this week met with Labour Minister Yiannis Panayiotou and Deputy Minister of Tourism Kostas Koumis, discussing both the positive prospects and lingering uncertainty ...

New lending in Cyprus remained stable during 2023, a reflection of an economic environment dominated by high interest rates, which also pushed loan restructurings to historically unprecedented levels. According to a ...

The Cyprus Real Estate Agents Registration Council on Friday said that the local property market performed robustly during the fourth quarter of 2023, despite inflationary pressures, high interest rates, and soaring ...

The Bank of Cyprus on Friday announced that it has successfully returned a total of €2.2 million to up-to-date mortgage borrowers, as part of their ongoing reward plan. According to the ...

The Central Bank of Cyprus (CBC) this week released a quarterly report showing that the interest rate on household deposits with a maturity of up to one year increased to 2.29 ...