Cyprus Business News

Non-performing loans (NPLs) remained virtually unchanged in November, reaching € 4.24 billion from € 4.26 billion the previous month, according to a report by the Central Bank of Cyprus released on Friday. In contrast, ...

Targeted actions are being taken to promote Cyprus in the United Arab Emirates, including an event held in collaboration with the Abu Dhabi Chamber of Commerce & Industry, national promotion ...

This project has been continuously in the limelight during the last few weeks, but, worryingly, for the wrong reasons. Following many questions about the lack of progress, significant schedule slippage ...

By Yiannis Seitanidis The threat of severe economic sanctions was not enough to prevent Russia’s invasion of Ukraine. But the package of massive and severe sanctions is the EU’...

Cypriot financial technology company WiRE, which specialises in the property market, generating analysis, business insights and data reports, announced on Wednesday the successful completion of its seed funding round. The ...

Port management company DP World on Wednesday hosted Cypriot officials at its flagship terminal Jebel Ali Port in Dubai. Attending the site were Transport Minister Yiannis Karousos and Shipping Deputy ...

In February 2022, economic sentiment in Cyprus improved as the Economic Sentiment Indicator (ESI-CypERC) increased by 3.5 points compared with January 2022. According to a press release of the Economic Research Centre of ...

Russian state-owned VTB Bank (PJSC) has transferred all its shares in RCB Bank to Cypriot shareholders, making RCB a 100 per cent Cypriot-owned bank. VTB transferred to the Cypriot shareholders the 46.29 ...

The achievement a year early of the target to bring the NPL ratio down to single digits, combined with the return to profitability, allows the Bank of Cyprus to move ...

By Yiannis Seitanidis The life insurance sector maintains its momentum and the overall premium generation rate remained in double digits in 2021. According to the latest data from the Association of ...

Real estate agents being granted access to property price data is beneficial to property buyers, Council for Registration of Real Estate Agents president Marinos Kineyirou said on Wednesday. This refers ...

Cyprus’ booth at the Dubai Expo 2020 utilises a hologram of the goddess Aphrodite to greet guests, while special sensors filled the space with scents from the island, including jasmine and ...

The coronavirus pandemic has had less of an adverse on mergers and acquisitions across the world, according to a report on global trends by professional services network Lex Mundi. “The ...

President Nicos Anastasiades will oversee the signing of a number of partnership agreements, in the form of Memoranda of Understanding (MoU), between the Republic of Cyprus and the United Arab ...

The Bank of Cyprus posted an after-tax profit of €30 million and a profit after tax and before non-recurring items of €91 million in its financial results released on Monday. “2021 saw a ...

The government wishes to increase the stature and sales of Cypriot wines, both internationally and domestically, Disy leader Averof Neophytou said on Monday in an address to an event examining ...

The digital transformation of the Housing Finance Corporation, including to its internet banking services, is underway and scheduled to be completed by 2023, acting general manager Vassiliki Vassiliou said on Sunday. ...

The Cyprus Investment Promotion Agency, commonly known as Invest Cyprus, has entered a collaborative initiative with counterparts from 16 other EU member states seeking to attract technology industry employees to their ...

Cyprus’ representation at the Egypt Petroleum Show (EGYPS) in Cairo, which concluded on Wednesday, was a success, national promotion agency Invest Cyprus said on Friday. The agency said that Cyprus’ ...

The Cypriot government and the country’s public service are accelerating the reform of public resource management, the first phase of which is expected to take effect in 2023, Finance Minister ...

Revenues from tourism amounted to €1.46 billion in the period between January and November of 2021, a report by the Cyprus Statistical Service (Cystat) released on Friday revealed. The revenue reported reflects ...

Finance Minister Constantinos Petrides on Friday met with the Association of Cyprus Banks, discussing the issue of loans being mislabeled as non-performing, Estia scheme appeals, as well as non-viable borrowers, ...

The budget of the Cyprus Ports Authority for 2022 is projected to have a marginal surplus, the authority said on Thursday. The budgeted revenues of the Authority are expected to reach €30,460,125 ...

The Ministry of Energy, Commerce and Industry on Thursday announced a range of programmes to support households and businesses, worth €158 million in total, scheduled for launch throughout 2022. During a presentation ...