Cyprus Business News

The Bank of Cyprus has become the first bank in Cyprus to set up a dedicated management unit for technology companies that relocate to the island. The new technology hub ...

Total new loans granted by Cyprus’ banks decreased by € 72.6 million in October 2021, compared to the previous month, mainly due to the significant reduction of new loans to non-financial corporations for ...

The modernisation of internal procedures and the adoption of a more open approach were highlighted as urgent necessities in a report by the Cyprus Ports Authority released this week. The ...

According to a report released by the Cyprus Statistical Service (CyStat) this week, Cyprus’ GDP growth rate in real terms during the third quarter of 2021 is positive and estimated at 5.5 ...

Chamber of Commerce and Industry president Christodoulos Angastiniotis expressed ‘strong reservations and concerns’ about the potential introduction of the minimum wage in Cyprus on Wednesday, adding that the current system ...

Business activity in the accommodation and food services sector has increased significantly, rising by 84.1 per cent in the third quarter of 2021, according to a report by the Cyprus Statistical Service. ...

The Bank of Cyprus has posted an after-tax profit of €19 million for the third quarter of 2021, with after-tax profit reaching €20 million for the first nine months of the year, it ...

Hellenic Bank said Tuesday it has posted an after-tax profit of €21 million for the first nine months of 2021, as net interest income rose to €192.8 million. Non-interest income was €74.2 million. “Despite ...

Space Hellas, a technology solutions company operating in the fields of information technology, telecommunications and security, saw a consolidated turnover of €62.4 million during the first three quarters of 2021, reflecting a ...

The employment rate in the third quarter of 2021 stood at 60.3 per cent compared to 57.7 per cent in the same quarter of 2020, data released by the Cyprus Statistical Service (CyStat) on ...

The Central Bank of Cyprus has determined the O-SII buffer requirement for six banks. In a press release, the CBC says that in accordance with its policy for the designation ...

Regulatory reporting firm Point Nine has announced a partnership with US company FIS, looking to bolster its ability to provide trade and transaction reporting services to legal entities in overseas ...

The mining sector has a key role to play as the world transitions to a greener, low-carbon future, Euromines president and Venus Minerals’ chairman Mark Rachovides said during a panel ...

The COVID-19 pandemic has drastically altered our way of life with a devastating blow to our economies and societies and this new reality offers us the opportunity to focus on ...

The technology sector can become the Cypriot economy’s main source of growth while offering quality professional career opportunities to young Cypriots, a study by the IMR-University of Nicosia research ...

The Minister of Energy, Commerce and Industry Natasa Pilides will assume the presidency of the East Mediterranean Gas Forum on January 1, 2022, taking over from Tarek El Molla, the Minister of ...

The Cyprus University of Technology (Tepak) announced on Friday that it has managed to achieve significant savings in the total amount of property rents it pays to house its schools ...

A well-planned internal audit is a crucial tool in the fight against corruption and fraud, two things that often appear in tandem and must, Finance Minister Constantinos Petrides said on ...

The CEO of DP World Limassol, Nawaf Abdulla, took part in a panel discussion as part of DP World Group’s CARGOES Digital Trade Flow event, held on the side-lines ...

Deputy Managing Director of China Petroleum Pipeline Engineering Duan Bingquan pledged his determination to bring natural gas to Cyprus which is scheduled to be delivered at the end of June 2023. ...

Economic activity started recovering from the sharp recession as of the first half of 2021, driven mainly by domestic demand, although tourism activity still remains well below the pre-pandemic level, the ...

Efforts to bridge the gap between businesses and the academic community have been successful, the Cyprus University of Technology (Tepak) said on Wednesday. According to university data, a total of 88 ...

The Minister of Agriculture Costas Kadis said that the Department for the Environment is applying great efforts to inform all stakeholders about the LIFE programme in order to maximise Cyprus’ ...

“The protection of worker rights, through the actions of the Ministry of Labour and Social Insurance, has always been the government’s priority,” President Nicos Anastasiades said on Monday in ...