Cyprus Business News

The unemployment rate fell to 6.6 per cent in the first quarter of 2022, a fall of 2 per cent year-on-year, with total employment increasing by 28,659 people, according to a report by the ...

The Producer Price Index in Industry for the month of April 2022 reached 123.8 points (base 2015 = 100), recording an increase of 19.5 year-on-year, according to a report by the Cyprus Statistical Service (Cystat) released ...

The Industrial Production Index for the month of March 2022 reached 135.7 points (base 2015 = 100), recording an increase of 6.9 per cent year-on-year, according to data released this week by the Cyprus Statistical Service (...

University of Cyprus economics professor Marios Zachariadis on Tuesday said that tackling inflation requires an immediate and drastic increase in interest rates combined with targeted fiscal measures that will not ...

For a company’s business strategy to work successfully, it must be based on changes taking place in the economy and in each sector, on political developments and on the ...

By Nicos Andronicou Never has the world needed sustainable action more vigorously than it does at the present moment. If the global pandemic taught us anything, it is that the ...

Non-performing loans at the end of February 2022 fell to 11.3 per cent of total loans, according to data released by the Central Bank on Monday. This represents a 0.4 per cent month-on-month ...

The Democratic Labour Federation of Cyprus (Deok) on Monday called the government’s measures to curtail soaring inflation disappointing and inadequate. “Unfortunately, the long-awaited government measures to deal with the ...

Cryptocurrencies are a potential risk to consumers and the economy due to their high volatility, Cyprus Central Bank (CBC) senior director of banking operations division Christos Phanopoulos said on Sunday. ...

Finance Minister Constantinos Petrides on Thursday evening said that Cyprus should maximise its comparative advantages in order to turn the investment funds sector into a means of attracting investments from ...

There was a net increase in both total deposits and total loans in April, when compared to March, according to a report published on Friday by the Central Bank of ...

Cyprus Cyber Security Competition winners also confirmed The first-ever Cypriot edition of the European Coding Challenge was successfully completed in Nicosia earlier this month. The event was jointly organised by ...

The Nicosia Tourism Board (Etap Nicosia) announced on Thursday the successful completion of the Facilitating Accessibility in Support of Tourism (FAST) programme, which took place on May 18-19, 2022. The event ...

Economic sentiment in Cyprus experienced a slight improvement in May, according to a business and consumer survey report by the University of Cyprus released on Thursday. The Economic Sentiment Indicator (...

Employers and Industrialists Federation (Oev) president Antonis Antoniou on Wednesday said that it is the organisation’s duty to highlight possible pitfalls and sound the alarm bell where it sees ...

Cyprus-licensed bank AstroBank on Wednesday announced that it recorded an after-tax profit of €3.3 million in 2021, a notable improvement on the €18 million loss it sustained in 2020. Moreover, the bank recorded a ...

Hellenic Bank on Wednesday described the decision by the bank employees’ union Etyk to stage a 24-hour warning strike on May 31 as “sad and disappointing”. The Etyk executive council announced ...

Cyprus Airways on Wednesday announced that Paul Sies has been appointed to the position of chief executive officer, with Sies officially assuming the role on May 20. “Mr Sies has extensive ...

Universities and other educational institutions in Paphos, which have been increasing in number over the past few years, provide a valuable contribution to the development of the district, non-profit organisation ...

Cyprus Chamber of Commerce (Keve) vice president Andreas Demetriades on Tuesday called on the government and political parties to unite in order to best deal with the challenges posed by ...

A European Commission official on Monday urged the Cypriot authorities to proceed with the implementation of Cyprus’ National Recovery and Resilience plan, warning that Cyprus risks losing EU funds in ...

The number of investment institutions increased from 257 in December 2021 to 273 in March 2022, according to a report on Monday published by the Central Bank of Cyprus (CBC). Moreover, for the same ...

Lebanese banks are planning to close their branches in Cyprus, following a decision by the Lebanon Central Bank, according to a report by the Cyprus News Agency (CNA) released on ...

Cyprus continues to experience excessive macroeconomic imbalances, the European Commission said on Monday during the presentation of its 2022 European Semester Spring Package. “Overall, vulnerabilities are receding and are falling below ...