Cyprus Business News

The Central Bank of Cyprus on Tuesday released its Monetary Financial Institutions (MFIs) deposits and loans statistics for October 2023, revealing a decrease in both deposits and loans during this period. ...

CBC governor Constantinos Herodotou on Tuesday underscored the evolving European economy’s nuances and the impacts of prevailing monetary policies, during a conference hosted by the Central Bank of Cyprus ...

The government has given energy giant Chevron until Friday to put its position in writing concerning the commercial development of the offshore Aphrodite gas field, the energy minister revealed on ...

The Israel-Hamas war is a crisis but, in terms of energy, what happens is dependent on the extent and duration of the fighting. The concern is that the main combatants ...

Here are the top business stories in Cyprus from the week starting November 20: Energy Minister George Papanastasiou on Monday opened this year’s Industry Week by reaffirming the government’s ...

Energy Minister George Papanastasiou on Saturday stated that both the Cypriot government and Chevron are highly optimistic that they will come to a mutually accepted plan over the Aphrodite gas ...

The Deputy Ministry of Research, Innovation, and Digital Policy has set its sights on positioning Cyprus as a dominant force in research, innovation, entrepreneurship, and high technology. In an ambitious ...

The recent 8th Greek Raw Materials Community Dialogue in Athens placed a spotlight on the Critical Raw Materials Act and its potential to fortify technological advancement and green energy production. ...

Aristos Philis, a Limassol native, stands at the helm of Lemissoler Navigation Company’s Strategic Development department while simultaneously holding the positions of CEO and co-founder at KeelX. Philis is ...

President of the Cyprus Ports Authority Antonis Stylianou this week underlined the impact of green transition processes within ports, describing the authority’s actions as exemplary practices. This discussion took ...

Cyprus has emerged as a thriving hub for video game developers and tech innovators, drawing in global gaming companies owing to its skilled workforce and creative environment. In this context, ...

In a groundbreaking development reflecting the International Maritime Organisation’s (IMO) commitment to gender equality, Despina Theodosiou, a notable figure in the Cypriot shipping industry, has been honoured with the ...

Cypriot Deputy Minister of Tourism Kostas Koumis took part in the ‘Mediterranean Tourism Forum Minister’s Summit’ this week, calling for pragmatism in the implementation of climate change plans in ...

Alpha Bank Cyprus on Friday announced that it expanded its product range by offering a new deposit interest rate of 2.75 per cent annually for deposits exceeding €100,000. According to the announcement, ...

In the evolving landscape of educational solutions, I.G. Perfect eClass Limited, a Paphos-based startup, stands as a notable example of success, reflecting a commitment to innovation and resilience in ...

ESG expert Nicole Phinopoulou this week released a piece of analysis that underscores the increasing global economic relevance of Environmental, Social, and Governance (ESG) frameworks. For countries like Cyprus, embracing ...

The Nicosia Chamber of Commerce & Industry (Evel) held its annual general assembly this week, highlighting critical proposals aiming to boost development in the Cypriot capital, improve the quality of ...

The European Commission this week projected a significant 30 per cent decrease in Cyprus’ public debt, as a percentage of its Gross Domestic Product (GDP), by the end of 2024. This projection ...

Cyprus’ transport and storage sector experienced a robust annual growth of nearly 10 per cent during the third quarter of 2023, according to a report released this week by the Cyprus Statistical ...

Α Larnaca resident, owner of a residential apartment, this week sent a letter to the House Standing Committee on Internal Affairs, advocating for changes to the legal framework regulating multi-owner buildings. ...

Scope Ratings, a German rating agency, this week upgraded the long-term rating of the Republic of Cyprus from BBB to BBB+, maintaining a stable outlook for the Cypriot economy. This ...

The annual growth rate of Cyprus’ Composite Leading Economic Index (CLEI) remained positive in October 2023, despite a slight deceleration, according to the University of Cyprus Economic Research Centre. Based on ...

The Construction Materials Price Index in Cyprus experienced a marginal decrease of 0.13 per cent in October compared to the previous month, according to the latest report from the state’s ...

The ability of Cypriot banks to reduce operating costs while investing in digital transformation will be key to offsetting inflationary pressure and still-high credit provisions, rating agency Standard and Poor’...