Cyprus Business News

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 ...

The need to rethink and further strengthen international supply chains was a key message by stakeholders attending the Supply Chain & Logistics Conference & Exhibition recently held in Nicosia. The ...

Cyprus Chamber of Commerce & Industry (Keve) president Christodoulos Angastiniotis on Monday sent an open letter to Eurochambres president Luc Frieden, protesting the latter’s decision to visit Turkey for ...

By George Pirishis An explosive mix of rising prices is expected in the next period of time in both fuel and electricity as the frenetic course of energy prices continues ...

By Yiannis Seitanidis After tourism, which is clearly experiencing negative effects as a result of the imposition of sanctions against Russia, the services sector is beginning to feel the impact ...

Credit rating agency Standard and Poor’s affirmed Cyprus’ long-term credit rating at BBB-, while maintaining a positive outlook, stressing that despite the Ukrainian crisis and economic sanctions against Russia, ...

The vice president of the European Investment Bank (EIB), Liliana Pavlova, visited the University of Cyprus this week in order to review the activities and funded projects of the EIB ...

KODAP released its 2022 budget in early February. Out of €119million, over €34 million is allocated to the construction of a strategic oil reserve storage at Vasiliko, with another €23million budgeted to ...

By George Pirishis A large number of people based in Russia who work for companies registered in Cyprus have expressed an interest in moving to the island, non-profit organisation TechIsland ...

Minister of Finance Constantinos Petrides met with the vice president of the European Investment Bank (EIB) Liliana Pavlova on Friday, discussing the current state of the economy, as well as ...

Rising fuel costs, electricity, fruit and vegetables have caused inflation to go up by 6.6 per cent in February, according to data published on Thursday by the Cyprus Statistical Service (Cystat). ...

Unemployment fell to 6.3 per cent of the workforce in the fourth quarter of 2021, compared to 8 per cent in the corresponding quarter of 2020. According to a labour force survey conducted by ...

By George Pirishis In an effort to contain costs from the rising fuel prices, the government has decided to temporarily reduce the excise tax on petrol and diesel by 7 cents ...

The interest rate on deposits from households with an agreed maturity of up to one year remained unchanged at 0.06 per cent, compared to December 2021, according to Cyprus Central Bank. At ...

The vice president of the European Investment Bank (EIB), Liliana Pavlova, who oversees financing operations for Cyprus, among other countries, will pay an official visit to the island on March 3, 2022, ...

The economic sanctions imposed against Russia following its invasion of Ukraine are not affecting Cyprus to a large extent as the island’s banking system has no exposure to Russia, ...

Cyprus-based financial technology company SquaredFinancial announced on Tuesday that it will be the first organisation to utilise iQbyQi, an advanced retail trading analytics tool. “SquaredFinancial, the fintech brokerage headquartered in ...

The services sector turnover index increased in 2021, compared to 2020, with particularly strong growth being observed in accommodation and catering services, according to data released this week by the Cyprus Statistical ...

By Marilena Evangelou & Yiannis Seitanidis The imposition of severe economic sanctions in Russia has made the daily life of those Cypriots who are in the country for work or ...

Cyprus’ cash reserves exceed the financing needs for 2022, the Public Debt Management Office said on Monday. In its February bulletin, the office explained that general government debt at the end ...

Cyprus’ government deficit fell to €409.1 million or 1.8 per cent of GDP in 2021 in 2021, primarily due to the impressive 16 per cent increase in revenues, according to a preliminary report released by ...