Cyprus Business News

The growth rate for 2022 is expected to be 2.7 per cent, while inflation will rise to 7 per cent, according to the revised June forecasts, published by the Cyprus Central Bank on ...

Construction companies and other industry stakeholders continue to be faced with the persisting challenges posed by rising domestic inflation, as well as the adverse effects of global supply chain disruption ...

Cyprus’ trade deficit increased by 22.79 per cent year-on-year in the period January-April 2022, according to preliminary data published on Thursday by the Cyprus Statistical Service (Cystat). The deficit amounted to €2.24 billion, ...

Approximately half of young Cypriots purchase fake products or access pirated digital content, according to a report by the European Union Intellectual Property Office (EUIPO) released on Wednesday. The 2022 edition ...

Quant Insight (Qi), a Limassol-based quantitative financial market analytics and trading insights provider, on Wednesday announced that it has entered into a collaborative initiative with Goldman Sachs. The collaboration will ...

Total employment for the first quarter of 2022 increased by 1.9 per cent when compared to the corresponding quarter of 2021, according to a preliminary estimate by the Cyprus Statistical Service (Cystat) released ...

Liquid fuel prices in Cyprus increased by 33.63 per cent between January to May 2022, according to data by the Cyprus Statistical Service (Cystat) and subsequently processed by the Cyprus Consumers Association. ...

By Yiannis Seitanidis The sixth package of sanctions against Russia, which came into force on Friday afternoon with the publication of the relevant legal acts in the Official Journal of ...

By Yiannis Seitanidis The deal between Greece and Saudi Arabia agreed earlier this week to launch a joint venture to lay fibre optic data cable that will link Europe with ...

Major business stakeholders got together at the Limassol Business and Investment Summit on Friday to discuss the ways in which the city can continue to capitalise on the notable growth ...

The Cyprus Chamber of Commerce and Industry (Keve) earlier participated and presided over the first annual general meeting of the Association of Balkan Chambers for 2022. The Association of Balkan Chambers ...

Chief Scientist and Research and Innovation Foundation president Nikolas Mastroyiannopoulos on Wednesday praised the role of the state in fostering innovation and promoting the use of technologically advanced solutions in ...

The International Monetary Fund (IMF) executive board on Wednesday evening concluded its article four consultation for Cyprus, which included an assessment of the country’s economic and financial developments. According ...

Business deposit rates fell further in April, turning negative for the first time in the history of the banking system, according to a report by the Central Bank released on ...

The growth rate of the Cypriot economy grew by 5.9 per cent year-on-year in the first quarter of 2022 according to a report by the Cyprus Statistical Service (Cystat) released on Wednesday. ...

The unemployment rate fell to 6.6 per cent in the first quarter of 2022, a fall of 2 per cent year-on-year, with total employment increasing by 28,659 people, according to a report by the ...

The Producer Price Index in Industry for the month of April 2022 reached 123.8 points (base 2015 = 100), recording an increase of 19.5 year-on-year, according to a report by the Cyprus Statistical Service (Cystat) released ...

The Industrial Production Index for the month of March 2022 reached 135.7 points (base 2015 = 100), recording an increase of 6.9 per cent year-on-year, according to data released this week by the Cyprus Statistical Service (...

University of Cyprus economics professor Marios Zachariadis on Tuesday said that tackling inflation requires an immediate and drastic increase in interest rates combined with targeted fiscal measures that will not ...

For a company’s business strategy to work successfully, it must be based on changes taking place in the economy and in each sector, on political developments and on the ...

By Nicos Andronicou Never has the world needed sustainable action more vigorously than it does at the present moment. If the global pandemic taught us anything, it is that the ...

Non-performing loans at the end of February 2022 fell to 11.3 per cent of total loans, according to data released by the Central Bank on Monday. This represents a 0.4 per cent month-on-month ...

The Democratic Labour Federation of Cyprus (Deok) on Monday called the government’s measures to curtail soaring inflation disappointing and inadequate. “Unfortunately, the long-awaited government measures to deal with the ...

Cryptocurrencies are a potential risk to consumers and the economy due to their high volatility, Cyprus Central Bank (CBC) senior director of banking operations division Christos Phanopoulos said on Sunday. ...