Cyprus Business News

Construction costs and demand keep property prices high Housing prices in Cyprus continued their upward trajectory in the fourth quarter of 2022, driven by both increased construction costs and rising demand, ...

The total solvency ratio of the Cypriot banking sector remained stable at 21.2 per cent at the end of December 2022, the same level as in September 2022, which was the highest point ...

Cyprus cannot consider itself an energy hub despite its deposits of offshore hydrocarbons, and as long as the gas remains in the ground, it will never generate the wealth associated ...

The number of registered unemployed individuals in Cyprus decreased to 10,357 at the end of May 2023, compared to both the previous month, as well as May of the previous year, according ...

Cyprus President Nikos Christodoulides said enhancing Cyprus’ outward orientation by attracting more foreign investments and promoting integration with foreign ecosystems, leveraging the potential of the digital economy is an important ...

Luxury properties valued above €400,000 were the driving force in Paphos’ housing market in 2022 Cypriot firm Ask Wire on Thursday released a report examining the Paphos property market for 2022, including an ...

Ariana Resources, the AIM-listed mineral exploration and development company with mining interests in both Cyprus and elsewhere in Europe, this week released its financial results for 2022, posting a pre-tax profit ...

Non-profit organisation Junior Achievement Cyprus recently announced the successful completion of its StartUp Programme for 2023, which sought to support Cypriot startups and promote innovation on the island. “In the final ...

Cyprus’ unemployment rate rose to 6.8 per cent during the first quarter of 2023, despite the increase in the number of employed individuals, compared to 6.6 per cent in the same quarter of 2022, ...

Cypriot lender AstroBank on Wednesday announced that it is freezing the base interest rate for first-time homebuyers for all eligible borrowers. “AstroBank is moving forward with a programme to reward ...

Total new loans in Cyprus decreased to €473.9 million in April 2023, compared to €922.5 million in the previous month, according to a report released on Tuesday to the Central Bank of Cyprus (...

The economy of Cyprus is expected to experience a slowdown, with growth projected to reach approximately 2.5 per cent in 2023, according to a report released on Tuesday by the International Monetary ...

Here are the top business stories in Cyprus from the week starting May 29: A new plan is expected in the coming days to protect the primary home of people belonging ...

‘We have the right to develop at the same pace as other districts’ By Kyriacos Nicolaou The state should provide the necessary incentives so that the Famagusta district is able ...

Paphos regional board of tourism (Etap) representatives, along with a group of Cypriot hoteliers from the district, visited various Baltic countries this week, in order to participate in regional workshops ...

Deputy Minister of Tourism Kostas Koumis this week announced that the Cabinet of Ministers has decided to establish a new tourism promotion agency, with the goal of boosting Cyprus’ tourism ...

By Charles Ellinas Energy Minister, George Papanastasiou, initiated a debate around natural gas immediately following his appointment. In line with government goals, he has prioritized bringing natural gas to the ...

Students from the University of Pittsburgh had the opportunity to tour the facilities of Eurogate Container Terminal Limassol Ltd during a visit to Cyprus this week. According to a statement ...

In a recent working meeting between Cyprus and India held during the Best Invest Congress in Limassol, Marina Hadjimanoli, Deputy Minister of Shipping, emphasised the invaluable asset that shipping represents ...

Cyprus’ tourism revenue experienced a remarkable increase of 41.5 per cent in March 2023, according to a report released on Friday by the state’s statistical service. According to the report, Cyprus’ ...

Cyprus’ general government generated a surplus of €291.9 million in the first quarter of 2023, equivalent to 1 per cent of GDP, according to a report released this week by the Cyprus Statistical ...

Cyprus’ annual inflation rate in May decreased to 3.01 per cent, continuing its downward trend for the seventh consecutive month, mainly driven by a deceleration in the prices of petroleum products. ...

Cyprus’ Gross Domestic Product (GDP) for the first quarter of the year amounted to €6.2 billion, marking a 3.4 per cent increase on an annual basis when measured in volume and adjusted ...

Eurobank Cyprus this week said that its five-year support programme for non-profit organisation Cyprus Seeds, which aims to bolster the island’s entrepreneurial and innovation ecosystem, has borne fruit, with ...