Cyprus Business News

Credit rating agency Fitch Ratings reported on Wednesday that it has revised Hellenic Bank’s outlook to positive from negative, while also affirming the bank’s Long-Term Issuer Default Rating (...

American credit rating agency Fitch Ratings announced on Wednesday that it has revised the Bank of Cyprus’ outlook to positive from negative, while at the same time affirming the bank’...

The number of job vacancies suffered a 3 per cent decrease during the third quarter of the year, according to the Cyprus Statistical Service (CyStat), with the number of job vacancies ...

The total value of Assets under Management (AuM) of Collective Investments reached €11.6 billion in the third quarter of 2021, according to a report released on Wednesday by the Cyprus Securities and ...

As is the case with the global and European economies, the course of the Cypriot economy continues to greatly depend on the pandemic but despite being characterised by uncertainty, the ...

Point of sales (POS) terminals have seen a 15 per cent rise in Cyprus between 2018 and 2020, according to a survey of 14 countries in central and eastern Europe conducted by technology company ...

International healthcare and diagnostic services company Medicover has acquired a controlling stake in Cypriot biotechnology NIPD Genetics, according to a statement released by the two companies earlier this month. “This ...

Cyprus telecommunications company Cablenet has renewed its broadcasting and sponsorship agreement with Nicosia club Apoel, a statement announced on Tuesday. “Apoel is pleased to announce the start of a sponsorship ...

Minister of Finance Constantinos Petrides earlier this week led a group of Cypriot representatives on a trip to Dubai, aiming to promote Cyprus as an investment and business centre to ...

A report by the Parliamentary Committee of Financial and Budgetary Affairs on the State Budget for 2022 ahead of the plenary debate and vote this week, stresses the significant uncertainties affecting ...

Central Bank of Cyprus governor Constantinos Herodotou said on Monday that he is seeking ways to expedite banks’ client digital onboarding and reviewing processes, with Cypriot banks participating in this ...

The Cyprus University of Technology said on Thursday it had participated in the Huawei Road Show event. The event, which took place for the first time in Cyprus earlier this ...

The Cyprus Investment Promotion Agency, commonly known as Invest Cyprus, announced on Friday that it has signed a memorandum of understanding with its Indian counterpart Invest India. The memorandum was ...

RCB Bank CEO Kirill Zimarin earlier this week presented the bank’s new Nicosia Banking Centre, in conjunction with his thoughts on the banking sector, explaining that the relationship between ...

By Maria Demertzis The discovery of the latest Omicron variant of COVID-19 sent stock markets into a freefall on Black Friday. However, markets recovered on Monday and have since shrugged ...

Banks need to rethink their business model to be able to better compete with financial technology (fintech) companies, Central Bank of Cyprus governor Constantinos Herodotou said at the Banking Forum ...

The total sales of motor vehicles decreased by 9.4 per cent year-on-year between January and November of 2021, according to a report by the Cyprus Statistical Service (Cystat). Meanwhile, total registrations in ...

Venus Minerals has announced that it has revised its mineral resource estimate at Kokkinoyia by 240 per cent The Kokkinoyia sector is part of the Magellan Project, 100 per cent owned by ...

The government plans to go ahead with taxation reform after 20 years, including raising the corporation rate and introducing carbon tax and fossil fuels taxes to achieve the country’s environmental ...

The Research and Innovation Foundation (RIF) unveiled on Wednesday three new programmes of a total budget of €13 million, in the framework of Cyprus` recovery and resilience plan. The programmes were ...

The future sustainability of the banking sector in Cyprus hinges on cutting costs for banks, including through the closure of branches and the downsizing of staff numbers, Hellenic Bank CEO ...

Cypriot airline Cyprus Airways announced on Wednesday that it has commenced ticket sales for its winter destinations for this year. The Larnaca-based airline will operate flights to Greece, the United ...

The University of Cyprus announced on Wednesday that it has signed a partnership agreement with the Cyprus Marine and Maritime Institute (CMMI). The partnership will encompass cooperation in the fields ...

Cyprus’s Shipping Deputy Minister Vassilios Demetriades has called upon the sector’s community to work towards a sustainable future for shipping, with recognition and protection of seafarers, especially in ...