Cyprus Business News

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 ...

The Recovery and Resilience Plan will facilitate the path towards improved productivity and significantly affect GDP growth, the Economics Research Centre of the University of Cyprus (CypERC) has said in ...

The commission’s market supervision area of activities has enjoyed significant growth, Cyprus Securities and Exchange Commission (CySEC) chairman George Theocharides said on Monday following a meeting with the house ...

Used car sales in Paphos fell by 10 per cent during the previous year, president of the Pancyprian Automobile Trade Association of Paphos (Pasyea) Andreas Shikkis told the Cyprus News Agency (...

TechIsland, an NGO representing 137 Cyprus-based technology companies, announced this week that it has completed its pledge to rebuild a school in fire-stricken Arakapas. “TechIsland members are donating a total of 900,000 ...