Cyprus Business News

Cyprus’ trade deficit increased by 38.9 per cent between January and November 2022, reaching €6.8 billion compared to €4.9 billion in the corresponding period of 2021, according to a report released this week by the ...

Cyprus successfully navigated three periods of serious calamity, outgoing president Nicos Anastasiades said on Monday, during an event held in his honour by the Cyprus Chamber of Commerce and Industry (...

Grant Thornton Cyprus, one of the leading tax and specialist advisory services firms on the island, on Monday announced that it has struck a deal that will result in increased ...

The Bank of Cyprus on Monday released its preliminary financial results for 2022, posting a profit after tax of €71 million for the entire year, marking a considerable increase over the €30 million ...

The Ministry of Energy, Commerce and Industry this week issued a call for proposals under its digital upgrade scheme for businesses. The scheme is included in the Cyprus Recovery and ...

A European Union initiative to secure critical raw materials and bolster supply chains could prove pivotal in rejuvenating Cyprus’ mining sector, according to Cypriot mining company Venus Minerals. “The Critical ...

The Paphos regional tourism board (Etap) announced that a delegation travelled to Israel this week in order to promote the district as a travel destination, particularly in the context of ...

Tourist arrivals to Cyprus amounted to 90,549 visitors in January 2023, compared with 43,944 during the same month of 2022, marking an increase of 106.1 per cent year-on-year, according to a report released on Friday ...

The Central Bank of Cyprus (‘CBC’) on Friday released a statement informing the public, businesses and depositors that an entity under the name ‘Turkish International Investment Bank’, to which reference ...

Limassol port management company DP World Limassol on Friday announced that it has completed six years as operator of the multi-purpose and cruise terminal, stating that it remains committed to ...

The real estate sector in Paphos experienced a double-digit increase in sales during 2022, with the volume of transactions rising by 31 per cent year-on-year, according to PwC Cyprus’ latest edition of ...

The association of large investment projects (SMA) this week welcomed the decision by the cabinet of ministers to approve the creation of a marina in Paphos, a major project for ...

TUS Airways on Thursday announced the launch of seven weekly direct flights between Larnaca and two large Slovak cities as of this summer. Flights will start to Bratislava and Kosice ...

The Famagusta branch of the hotels’ association Pasyxe on Wednesday expressed concern ahead of the upcoming summer tourist season, noting that labour shortages remain an ongoing issue, despite the positive ...

The Association for the Protection of Borrowers (Syprodat) this week said that the new government should engage in dialogue with Cypriot banks in order to resolve the issue of non-performing ...

The Bank of Cyprus on Wednesday announced that it recently received the Quality Recognition Award from global finance giant JP Morgan Chase Bank, in recognition of the bank’s excellence ...

Increased property availability could help to stimy soaring rental prices The city of Nicosia could have an additional 10,180 apartments, which could alleviate rising rental costs and soaring real estate prices, ...

International hydrocarbon exploration and production company Energean on Tuesday announced that Israel has now officially entered the oil exporters club, after hydrocarbon liquids were transported from Karish. “Energean is delighted ...

i-BrainTech’s decision is seen as a vote of confidence in Cyprus Israeli sports technology company i-BrainTech, a pioneer in athletic brain training, on Tuesday announced its plan to expand ...

Artificial intelligence will play a vital role in the future of the energy sector, especially as it continues to become more digital and decentralised, according to Cyprus Energy Regulatory Authority (...

The Cyprus-Greece Business Association on Monday released a statement congratulating newly elected president Nicos Christodoulides and wishing him “all the best with his challenging task”. In its statement, the association ...

The European Union’s economy will avoid recession but headwinds continue to be an issue, according to the European Commission’s interim winter economic forecasts for 2023, presented by Economy Commissioner ...

The four-day workweek has numerous benefits for the organisations that implement them, both in terms of employee satisfaction, but also to their customers, according to a piece of analysis released ...

The presidents of the Institute of Chartered Accountants in England and Wales (ICAEW) and The Institute of Certified Public Accountants of Cyprus (ICPAC) on Friday announced that they have signed ...