Cyprus Business News

State-owned asset management company Kedipes announced on Friday that it repaid €60 million in state aid during the fourth quarter of the previous year, with state aid repayments reaching €250 million for ...

We are all aware of the US State Department statement on 10 January finally abandoning the East-Med gas pipeline. Predictably, that attracted most of the attention, but a key part of ...

By Zenon Papaphilippou As the Investment Funds Industry in Cyprus continues to prolifically expand and record growth, the responsibility for high standards of ethical professionalism becomes more pertinent than ever ...

The financial support given to companies affected by the ongoing pandemic announced by the Ministry of Finance this week seems to be financially bearable without serious consequences on public finances, ...

The Larnaca Tourism Development and Promotion Company (Etap) presented on Thursday a number of upgrades and additions to both the city and district’s tourist infrastructure for 2022. “The Larnaca tourism ...

The European Court of Auditors (ECA) said on Monday that a number of EU member states, including Cyprus, were still behind with their 5G network rollout plans. Moreover, Belgium, Bulgaria, ...

The deputy tourism ministry announced on Wednesday 12 grant schemes that will come into effect this year as part of its national tourism strategy 2030. “The plans concern the development of special ...

The cabinet has approved a new €3 million scheme to support businesses in light of the recent restrictions imposed in some sections of the economy, Finance Minister Constantinos Petrides said on ...

Total non-performing loans (NPLs) decreased by €32 million at the end of October 2021, compared to the previous month, when total loans increased by €14 million to € 27.91 billion. According to data released on ...

Cyprus is suffering from a low level of judicial efficiency, excessive reliance on a limited number of countries for trade relations, as well as high costs for cross-border transactions, according ...

By George Christou Comment The increase in bank charges has become a big public issue in the last few weeks, the political parties, consumers associations and interest groups mounting a ...

Cyprus, alongside a handful of other countries, is still lagging behind with its 5G network rollout, the European Court of Auditors (ECA) said on Monday, calling for increased urgency in ...

The Cyprus University of Technology (Tepak) and the German embassy in Cyprus announced on Tuesday that the two discussed possible avenues of collaboration in areas of common interest. The meeting ...

The Cyprus Telecommunications Authority (CyTA) said Monday it is increasing its profits as well as its market share while giving back to the state over €1 billion in the form of ...

By Andreas Charalambous and Omiros Pissarides The importance of financial literacy has been increasingly acknowledged in recent years. Many analysts consider financial illiteracy, defined as the lack of skills and ...

Property prices in Cyprus rose during the third quarter of 2021, a report by the Central Bank of Cyprus released on Friday revealed. According to the central bank’s quarterly report ...

The annual Harmonised Index of Consumer Prices (HICP) rate in December 2021 reached 4.8 per cent, primarily fueled by rising energy prices, equaling the respective level of October 2008. According to data released ...

The Central Bank of Cyprus (CBC) announced on Thursday that it has signed a new collective bargaining agreement with the Cyprus Union of Bank Employees (Etyk). “Today’s agreement is ...

Cypriot biotechnology NIPD Genetics announced on Thursday that the agreement to sell a 68.3 per cent stake in the company to diagnostic services company Medicover was officially completed earlier this month. ...

The Cyprus Minister of Energy, Commerce and Industry announced this week that its commercial renewable energy system incentive schemes, including for the creation of photovoltaic parks, have been deemed successful. ...

By George M. Georgiou Debates about central bank independence have traditionally focused on monetary policy, specifically the setting of interest rates. A central bank, it is argued, should be free ...

The Price Index of Construction Materials increased by 17.1 per cent during December of 2021, compared to the corresponding month of the previous year, rising to 119.66 points (based on 2015 = 100), according to the ...

The Cypriot economy continued its recovery in December, carrying on with the trend of the two previous months, according to a report by the University of Cyprus Economic Research Centre ...

The hospitality industry has experienced a change in consumer behaviour during the coronavirus pandemic, according to research conducted by Insights Market Research (IMR) on behalf of Corporate Events and Media ...