Cyprus Business News

High labour costs and unhindered access to energy and raw materials are the main challenges expected to be faced by Cypriot businesses in 2023, based on the 30th annual edition of ...

One of the most promising biotech companies in Cyprus currently is Promed Bioscience. They produce collagen-based biomaterials including highly purified medical-grade atelocollagen among others. They have announced the closing of €800...

The law passed last week by the House set to freeze foreclosures until the end of January 2023 has a slew of interpretive issues, financial ombudsman Pavlos Ioannou said on Monday. ...

The world is moving towards renewable energy, such as PV, in an effort to limit climate change and offset dwindling and progressively more expensive and difficult to extract conventional (coal, ...

By Antonis Loizou FRICS Our protests about the non-functional common expenses law and other related legal disputes are well known. While the issue is very serious and its results are ...

Reflect Festival, the largest technology and entrepreneurial event of its kind in Cyprus, wrapped up on Friday evening, October 21, welcoming approximately 5,000 attendees in the process, who flocked to Limassol’s ...

National investment agency Invest Cyprus on Friday announced that through a mission in Kuwait made a series of contacts and presented to local government officials and investors Cyprus’ business and ...

The Cyprus Investment Funds Association (CIFA) this week announced that Cyprus has been chosen to host the 36th iteration of the International Investment Funds Association (IIFA) conference, something which the ...

Cyprus-based education technology company Gear Education on Friday announced that it has entered into an official partnership agreement with software company Jamf. The primary aim of the collaboration is to ...

The Association of Cyprus Tourist Enterprises (Stek) on Thursday issued a warning against the dangers posed by short-term rentals, saying that the rapid expansion of such practices in Cyprus needs ...

Unemployment in Cyprus rose by 1.9 per cent year-on-year in October, according to a report released on Thursday by the Cyprus Statistical Service (Cystat). According to the report, based on the ...

Non-performing loans (NPLs) in Cyprus fell by a total of €30 million in August, with the percentage of NPLs against total loans standing at 10.9 per cent, down from 11 per cent during ...

Cyprus’ recorded a general government surplus of €587 million, 2.2 per cent of GDP, during the first nine months of 2022, compared to a deficit of €453.3 million, 1.9 per cent of GDP, in the ...

Tourism revenue in Cyprus reached €399.7 million in August 2022, compared to €272.5 million recorded in August 2021, marking an increase of 46.7 per cent, according to a report released this week by the Cyprus ...

Minister of Energy, Commerce and Industry Natasa Pilides this week said that Cyprus’ business community continues to carry on unabated, displaying great resilience, despite the numerous exogenous challenges it faces. ...

Cyprus Mail reporter PANIS PIERI is attending the Web Summit tech conference in Lisbon, the biggest festival in the world about startups, technology and innovation. The Cyprus Mail is in ...

The Central Bank of Cyprus (CBC) on Monday released a report on household debt in Cyprus, with the current figure standing at €20.1 billion at the end of June 2022, with the ...

The Association of Cyprus Tourist Enterprises (Stek) on Monday warned that soaring energy costs will have an extremely negative impact on the Cypriot tourist industry, stressing that it will severely ...

Government strategy to attract foreign talent and digital nomads viewed as a success The Civil Registry and Migration Department this week said that it has received 9,090 applications for relocation from ...

The total sales of petroleum products in Cyprus experienced a small increase of 0.9 per cent year-on-year in September 2022, with sales from gas stations recording a decrease of 6 per cent year-on-year, ...

The economic sentiment in Cyprus improved slightly in October 2022, with the Economic Sentiment Index (ESI) increasing by 0.4 points compared to September 2022. According to a statement released this week by the ...

The Cyprus Hotels Association (Pasyxe) on Thursday welcomed the cabinet’s decision to approve a €165 million incentive plan for airlines for the period 2023-2027, whose primary objective is to bring ...

PwC Cyprus CEO Philippos Soseilos this week explained that the correct application of environmental, social and governance (ESG) criteria in the shipping industry requires a holistic approach by the companies ...

The total amount of deposits in the Cypriot banking system reached the highest level of the last nine years in September 2022, while loans stood at a five-month low, according to ...