Cyprus Business News

Cyprus experienced a decrease in acceptance deposit rates (for new placements) within its banking system during the month of July, despite consecutive increases in the European Central Bank’s (ECB) ...

The Cypriot economy experienced a notable deceleration in its growth rate during the second quarter of 2023, with GDP growth slowing to 2.1 per cent compared to the same period in 2022. This ...

By Andrey Afanasiev Embedded finance changes the way people interact with financial services. Nowadays, financial companies are the points of contact for financial services customers. For example, when we purchase ...

The local real estate market has also seen a surge in property sales in Larnaca The Cyprus Real Estate Registration Council this week has unveiled a comprehensive analysis of the ...

The Cyprus Borrower Protection Association (Syprodat) on Thursday said that the “serious and vigorous efforts” made by the Minister of Finance to provide relief to borrowers have been warmly welcomed ...

The City of Dreams Mediterranean casino resort is playing host to its inaugural major conference, as the three-day “M&I Europe Summer 2023” forum kicked off in Limassol earlier this ...

Wargaming, a prominent player in the gaming industry, has announced its decision to sell its remaining stake in Hellenic Bank to Eurobank. The deal, valued at €65.9 million, encompasses Wargaming’s 6.8 ...

The Cyprus Tourist Enterprises Association (Stek) on Wednesday issued a warning about the unchecked operation of short-term rentals and the escalating influx of tourists into the occupied areas, highlighting “asymmetric ...

The proposed measures by the government aimed at reducing non-performing loans (NPLs) will not effectively contribute to their reduction, the Association for the Protection of Bank Borrowers (Syprodat) said in ...

The Cyprus Chamber of Commerce and Industry (Keve), a member of the Enterprise Europe Network Cyprus, on Wednesday extended an invitation to an exclusive seminar designed to equip Cypriot companies ...

The spokesperson of the Association of Cyprus Banks Andreas Costouris on Wednesday stated that the association does not agree with how Finance Minister Makis Keravnos is presenting the situation surrounding ...

Hellenic Bank announced on Wednesday that it posted a profit of €160.2 million during the first half of 2023, a result that underscores the resilience of its business model amidst a challenging ...

The Cyprus Research & Innovation Foundation (Idek) on Tuesday announced a groundbreaking opportunity for the Cypriot startup, innovation and research ecosystem, allowing successful applicants to engage in international collaborations. According ...

The Cyprus fuel sector experienced a notable 9.7 per cent increase in total sales during July 2023 in comparison to the same period in 2022, according to a report released this week. This ...

After experiencing a notable increase over the past two months, both deposits and loans in the Cypriot banking system witnessed a decline in July 2023. According to data released this week ...

The Cyprus Association of Tourism Enterprises (Stek) and the Crete regional authority joined forces on Tuesday in an effort to enhance and diversify their tourism product while extending the tourist ...

National flag carrier Cyprus Airways on Monday announced a remarkable 70 per cent surge in passenger numbers in July, transporting a total of 77,656 passengers, compared to 45,578 passengers during the same month ...

International credit rating agency Fitch recently released a piece of analysis on the acquisition of Hellenic Bank by Greek lender Eurobank, with the agency noting that the completion of all ...

Here are the top business stories in Cyprus from the week starting August 21: Entertainment venues in coastal towns are still seeing heightened traffic after the 15 August public holiday, according to ...

Cypriot firm Ask Wire this week released a report detailing the value of the ten most expensive property sales transactions completed in July 2023, along with the cumulative value of the ...

Cyprus-based Multimarine Services Ltd this week announced that it has marked a significant achievement with the successful construction of a floating electrical hub, heralding the island’s entrance into the ...

Eurobank on Friday announced a further increase in its ownership share of Hellenic Bank, with the bank disclosing that it has reached an agreement with Senvest Management LLC to acquire ...

Invest Cyprus CEO Marios Tannousis this week praised the crucial role played by the Cypriot diaspora in promoting the country on the international stage. Speaking at the Global Cypriot Diaspora ...

The chairman of the Cyprus Securities and Exchange Commission (CySEC) George Theocharides on Thursday stated that Eurobank should proceed with a mandatory public offer to the shareholders of Hellenic Bank ...