Cyprus Business Now
Tourist arrivals reached 391,638 in October 2021, reflecting an increase of 288.6 per cent year-on-year, according to data released by the Cyprus Statistical Service (Cystat)...
Cyprus Business News
S&P raises Bank of Cyprus’ outlook to positive following NPL sale
Rating Agency Standard and Poor’s revised Bank of Cyprus’, the country’s largest lender outlook to positive from stable, following a new NPL transaction titled “Helix...
Cyprus Business Now
Inflation in Cyprus reached 4.4 per cent during October of this year, according to the European statistical service (Eurostat). Cyprus’ inflation figure is slightly above...
Cyprus economy recovering ‘faster than expected’, credit rating agency says
Cyprus’ economy is recovering at a swifter rate than previously thought, with real GDP on track to reach pre-pandemic levels by the fourth quarter of...
High stakes: achieving a sustainable banking sector
By Nicos Panteli Supervisory authorities constantly remind banks that they need to drastically cut costs Without a doubt the Covid-19 pandemic has left its mark...
Cyprus IT services market value surpassed €100 million this decade
The Cypriot IT services market exceeded €100 million in total value this decade, reaching €113.16 million in value during the previous year, a rise of...
Cyprus Business Now
The Cyprus Ministry of Finance said on Wednesday the economy’s performance during the third quarter of 2021 reaffirm the resilience of the economy and bode...
Cyprus Business Now
Cyprus Deputy Minister for Tourism Savvas Perdios said that the current level of tourist arrivals has been deemed satisfactory. Tourist arrivals between January and October...
Banking digitisation urgently needed says Hellenic CEO
The digitisation of banking services is ‘not an option, but an urgent need’, the Hellenic Bank CEO Oliver Gatzke said on Monday at The Economist’s...
Cyprus Business Now
The cabinet has decided to increase the government subsidy for the ferry connection between Cyprus and Greece by €500,000 due to the rise in fuel...
Bank of Cyprus brings NPL ratio down to single digits
The Bank of Cyprus announced on Monday that it had successfully completed the sale of a non-performing loans (NPLs) portfolio with a gross book value...
Cyprus labour market shortage in numbers
The Cyprus Employers and Industries Federation (OEB) has released the results of a study revealing the true labour needs of Cypriot businesses. The study takes...
Cyprus economic recovery continues despite property market cooldown
The recovery of the Cypriot economy remains on an upward trajectory, with most indicators boding well for future growth, according to a report by the...
Cyprus Business Now
My Mall Limassol, Cyprus’ third-largest shopping centre, will see Israeli involvement in its ownership structure, with 46 per cent of its shares due to be...
ECB autumn forecast paints positive picture for Cyprus
The European Commission’s Autumn 2021 Economic Forecast which was presented on Thursday shows positive prospects for Cyprus, including an increase in GDP by 5.4 per...
Cyprus Business Now
The Cyprus University of Technology (Tepak) has signed an agreement for the opening of a satellite school in Paphos. Specifically, the university will run a...
LNG import terminal a ‘transformational project’ for Cyprus
The LNG import terminal project would be transformational for Cyprus said Symeon Kassianides, the chairman of the Natural Gas Public Company (DEFA), said on Thursday...
Nicosia restaurant to accept crypto currencies
A Nicosia restaurant announced it will be accepting payments with cryptocurrencies, the first such business to introduce this, it said on Thursday. Think 30, located...
Cyprus must act swiftly to meet Green Deal objectives, Pilides says
Cyprus must move quickly to implement the projects necessary to meet the objectives mandated by the EU’s Green Deal and simultaneously lower electricity prices, Energy...
Cyprus Business Now
Cyprus’ trade deficit recorded an annual increase of €715.1 million during the first nine months of 2021 according to the Cyprus Statistical Service (Cystat). Based...