Cyprus Business News

Cyprus experienced a modest uptick in inflation in January 2024, with a 1.7 per cent increase compared to a 1.64 per cent rise in December 2023. The annual inflation rate for January 2023 had reached 7.11 ...

Cyprus’ retail sector experienced a notable surge during 2023, with a remarkable 8.9 per cent increase in the value of turnover, according to a report released this week by the state’s ...

The Commission for the Protection of Competition (CPC) approved on Friday Eurobank’s bid to acquire Hellenic Bank’s share capital. The decision was taken with a majority vote in ...

The Cyprus Shipping Chamber (CSC) on Friday expressed its appreciation for the re-appointment of Deputy Director General Alexandros Iosifidis as a Goodwill Maritime Ambassador at the International Maritime Organisation (IMO), ...

The Association of Cyprus Tourist Enterprises (Stek) this week met with Labour Minister Yiannis Panayiotou and Deputy Minister of Tourism Kostas Koumis, discussing both the positive prospects and lingering uncertainty ...

New lending in Cyprus remained stable during 2023, a reflection of an economic environment dominated by high interest rates, which also pushed loan restructurings to historically unprecedented levels. According to a ...

The Cyprus Real Estate Agents Registration Council on Friday said that the local property market performed robustly during the fourth quarter of 2023, despite inflationary pressures, high interest rates, and soaring ...

The Bank of Cyprus on Friday announced that it has successfully returned a total of €2.2 million to up-to-date mortgage borrowers, as part of their ongoing reward plan. According to the ...

The Central Bank of Cyprus (CBC) this week released a quarterly report showing that the interest rate on household deposits with a maturity of up to one year increased to 2.29 ...

Cyprus-based ship management company Intership Navigation, founded 35 years ago by German ship owner Alfred Hartmann, recently announced its separation from the Hartmann Group through a management buyout by its long-term ...

Finance Minister Makis Keravnos and Cyprus Central Bank (CBC) governor Constantinos Herodotou held a meeting on Thursday, discussing a potential decrease in interest rates by the European Central Bank (ECB) ...

The Non-Performing Loan (NPL) ratio in Cyprus remained unchanged at 8.3 per cent in November 2023, according to a report released on Thursday by the Central Bank of Cyprus (CBC). According to ...

Copper prices set to soar by more than 75 per cent over next two years Mark Rachovides, chairman of Venus Minerals and a member of Euromines, the voice of the European ...

Private debt in Cyprus, including households and non-financial companies, reached 206 per cent of GDP at the end of the third quarter of 2023, according to a report released this week by ...

TechIsland, the largest technology association in Cyprus, and member company Adsterra, on Thursday announced the launch of “Advocate For Yourself,” an educational programme under the Women in Tech Cyprus initiative. ...

The economic climate in Cyprus showed signs of improvement in January 2024, according to a report released this week by the University of Cyprus’ Economic Research Centre (CypERC). The Economic Sentiment ...

The Producer Price Index (PPI) in Cyprus’ industrial sector for the year 2023 witnessed a notable decrease of 4.5 per cent on an annual basis, according to a report released on Wednesday ...

Tourism revenue in Cyprus surged to nearly €3 billion during the January-November 2023 period, indicating a remarkable 22.5 per cent annual increase, according to a report released on Wednesday by the state’s ...

President of the Cyprus Institute Stavros Malas this week presented an innovative proposal for the establishment of a Centre of Excellence for Smart and Sustainable Farming (SMARTFARM) to the House ...

Cyprus’ Deputy Ministry of Tourism on Wednesday stated that it sees a feasible opportunity for a further increase in tourist arrivals from Switzerland, estimating the number of visits from the ...

Limassol-based Tototheo Maritime, a leading provider of maritime satellite communications and technologies, on Tuesday announced its partnership with Orion Reederei, a prominent ship management company based in Germany. The company ...

Finance Minister Makis Keravnos and Ambassador of Jordan to Cyprus Basheer F. Zoubi on Tuesday met at the ministry’s offices in Nicosia, with the discussions primarily focusing on economic ...

Deputy Minister of Tourism Kostas Koumis this week addressed long-lasting competitiveness issues in the Pernera area, between Protaras and Paralimni, acknowledging the closure of eight tourist accommodation units since 2006. “Concerning ...

Wargaming, an award-winning online game developer and publisher headquartered in Nicosia, on Tuesday announced a number of opportunities for students and recent graduates, which are set to take place in 2024. ...