Cyprus Business News

The Bank of Cyprus plans to reduce the number of its branches by 25 per cent and workforce by 15 per cent this year. In numbers, this means 500 jobs will go and ...

The Cyprus Shipping Chamber (CSC) on Friday announced that it welcomes the positions adopted by the Environment Committee (ENVI) of the European Parliament regarding the revision of the EU Emissions ...

The Bank of Cyprus on Thursday announced that it recorded a profit after tax of €21 million during the first quarter of 2022, €13 million higher than the corresponding period of 2021. Moreover, it ...

The Price Index of Construction Materials reached a historically high level in April 2022, with the prices of construction materials rising by 24.54 per cent year-on-year, according to a report by the ...

Deputy Minister for Research, Innovation and Digital Policy Kyriacos Kokkinos on Tuesday afternoon engaged with the local fintech community, during an event on digital assets, entrepreneurship and financial technology. The ...

The Cabinet of Ministers on Wednesday announced the approval of a 20 per cent tax cut for research and development projects. The tax cut is part of the broader strategy of ...

The growth rate of the Cypriot economy in the first quarter of 2022 remained positive, estimated to have risen by 5.8 per cent when compared to the corresponding quarter of 2021, according to ...

The positive year-over-year growth rate of the Cyprus Composite Leading Economic Index continues to slow down in April 2022. The index recorded a year-over-year increase of 2.4 per cent in April 2022, reaching ...

Cyprus Land and Building Developers Association general manager Mersina Isidorou on Tuesday said that the Cypriot construction sector can help the economy withstand the challenges that it is being faced ...

Hermes Airports on Tuesday announced that in May a total of 223 flights across 55 destinations are operating on a weekly basis from Paphos International Airport. In more detail, Paphos Airport this ...

Paphos hoteliers association (Pasyxe) president Thanos Michaelides on Tuesday said that hoteliers are currently faced with two challenges,the difficulty of finding staff, but also the high cost of of ...

The Cyprus Securities and Exchange Commission (CySEC) announced the launch of an online platform which will reinforce its efforts to curtail money laundering. CySEC, in a press release said that ...

An open letter outlining a range of measures for the government to implement, sent on Wednesday by the Cyprus Chamber of Commerce and Industry (Keve), has sparked a fierce reaction ...

Deputy Minister for Research, Innovation and Digital Policy Kyriacos Kokkinos announced on Friday the signing of a Memorandum of Understanding (MoU) with IDEA Innovation Centre president Charis Pouangare. The MoU ...

The government will continue supporting households and especially the vulnerable amid the rising inflation, Finance Minister Constantinos Petrides had told CNA, warning that tackling inflation is difficult due to its ...

The recent approval by the Cabinet of Ministers of a scheme to further incentivise the relocation of foreign workers and companies creates major opportunities for Cyprus, Invest Cyprus CEO George ...

Finance Minister Constantinos Petrides on Thursday defended the government’s actions to deal with the recent rise in consumer prices, saying that the measures that have been taken so far ...

By Yiannis Seitanides A significant gap remains as to the way a reduction in staff can be achieved at Hellenic Bank, despite an agreement among stakeholders, including the bank’s ...

Council for Registration of Real Estate Agents president Marinos Kineyirou on Wednesday said that the Cypriot property market is not currently going through a bubble, despite the concession that prices ...

Cypriot banks were presented with bad checks worth a total of €438,000 in April, according to data released on Wednesday by the Central Bank of Cyprus (CBC). This is the largest ...

MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group, on Wednesday announced that it has appointed Yannis Matsis as managing director and head of its office ...

Fitch Ratings on Tuesday said that the ratings of the Bank of Cyprus and Hellenic Bank have been kept on Positive Outlook in spite of the escalating global economic dangers ...

Cyprus’ trade deficit in February amounted to €429 million, according to the finalised trade published by the Cyprus Statistical Service (Cystat) on Tuesday. In addition, the trade deficit in March 2022 reached €729 ...

The Cabinet of Ministers on Tuesday approved a new tax incentives scheme aimed at attracting foreign companies and high-quality workers to Cyprus. The scheme also seeks to repatriate Cypriot professionals ...