Cyprus Business News

Fitch Ratings announced that it has affirmed Cyprus’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-‘ with a Stable Outlook. The credit ratings agency said that Cyprus’ rating is ...

RCB Bank on Tuesday announced that it has agreed to the sale of a performing loan portfolio to Hellenic Bank, including any related funds on the accounts belonging to the ...

With the war in Ukraine causing a range of short and long term issues, with the global economy likely requiring years to recover, Cyprus should shift its focus to the ...

Hellenic Bank announced on Monday the successful completion of a conference it held during the previous week to support small-to-medium-sized enterprises (SMEs), with participants having had the opportunity to share ...

Cyprus has work to do in order to accelerate its switch to greener forms of energy, but has already accomplished a fair amount, Energy Minister Natasa Pilidou said during a ...

The Cyprus Investment Promotion Agency (Invest Cyprus) on Friday announced that its national stand had a great presence at one of the most important European real estate exhibitions, MIPIM (Marche ...

The Research and Innovation Foundation (Idek) on Thursday announced a new funding programme called Collaborative Development – Co-Develop, seeking to bring together Cyprus’ research community with local industry. The programme, aimed ...

The benefits of digital solutions and the resulting improvement in business competitiveness were highlighted at an event in Nicosia on Wednesday. The event was organised by IBM spinoff Kyndryl, whose ...

State-owned asset management company Kedipes announced on Thursday the launch of a new voluntary retirement scheme (VRS) in order to reduce the number of its employees, which the company considers ...

The Cypriot economy continues to grow, showing improvement over the performance of the previous year, but external factors are contributing to a loss of momentum, according to a report by ...

Director-General of the Ministry of Finance George Panteli, who represented Cyprus at the EU Economic and Financial Affairs Council (Ecofin) which ended yesterday in Brussels, said on Wednesday that sanctions ...

By George Pirishis There are new developments regarding the introduction of the minimum wage in the market since the general director of the Federation of Employers and Industrialists (OEB), Michalis ...

Cypriot company Tototheo Maritime, a leading maritime technology integrator and provider, announced on Tuesday that it has been appointed as the official distributor and service partner for marine technology manufacturer ...

International magazine Global Banking & Finance Review on Tuesday named the Bank of Cyprus’ asset management division (BOCAM) as the best asset management company in Cyprus. The award was given ...

By George Pirishis Significant questions arise with regard to the expected impact on the Cypriot economy following the decisions to impose European sanctions on Russia. While the services sector may ...

Hellenic Bank on Tuesday announced that it has negligible direct exposure to Russia, while its indirect exposure through any adverse effects on the Cypriot economy hinges on a number of ...

Baker Tilly South East Europe chief executive officer Marios Klitou on Tuesday will receive the title of National Order for Faithful Service of the Rank of Knight by the Romanian ...

Cyprus’ trade deficit increased in January 2022 by 19.4 per cent, to €518.72 million, compared to €434.34 million in January last year, according to provisional data, published by the Statistical Service of Cyprus. At ...

Cyprus’ GDP could be affected by between 1.5 to 2 per cent during 2022 if Cypriot airspace remains closed to Russia for the entirety of 2022, rating agency DBRS Morningstar said on Monday. The ...

Justice Minister Stefi Drakou on Thursday held a meeting with Institute of Certified Public Accountants (Selk) president Pieris Markou, with their discussion focusing on the implementation of the anti-corruption legal ...

By George Pirishis The EU sanctions against Russia do not exclude the “golden passport” and “golden visa” programmes since a legislative initiative report of the European Parliament calls on the ...

Rating agency Standard & Poor’s on Thursday downgraded RCB Bank’s long-term issuer rating from BB- to B+ and placed the bank on negative watch, citing the lack of ...

The discussion between Hellenic Bank and the Cyprus Union of Bank Employees (Etyk) have broken down, resulting in the bank now seeking mediation from the Department of Labour Relations. “It ...

RCB Bank announced on Tuesday that it has donated €50,000 to the Cyprus Red Cross Society (CRCS) in support of the organisation’s relief and humanitarian efforts on the ground for ...