Cyprus Business News

By Yiannis Seitanides The proposed sixth package of sanctions against Russia, which was submitted on Wednesday by the European Commission, puts certain countries, including Cyprus, in a difficult position. Initially, ...

In April 2022, inflation was 8.8 per cent in Cyprus, with the Consumer Price Index increasing by 2.58 units to 110.36 units, compared to 107.78 units in March 2022, according to data published by the Cyprus ...

The Cyprus Statistical Service (Cystat) on Wednesday released the preliminary budget results for the period January-March 2022, with the report showing a general government surplus of €239.3 million. The surplus corresponds to 1 ...

President Anastasiades earlier this week said that Turkey’s ban on Cyprus-flagged vessels is an ongoing source of frustration for the local shipping industry, labelling the embargo a ‘thorn in ...

By Yiannis Seitanides Hellenic Bank will lay off more than 10 per cent (350) of its work force and shut down 20 branches by the end of the year, as part of a ...

Cyprus’ Fiscal Council on Tuesday announced that it has approved the forecasts and estimates submitted through the Stability Programme. The council also warned that if there is any delay in ...

Cyprus Chamber of Commerce and Industry (Keve) president Christodoulos Angastiniotis earlier this week said that the local businesses are now focused on enduring the current economic crisis. “The business community’...

Debt as a percentage of Gross Domestic Product (debt ratio) of households has decreased by nearly 30 per cent and for non-financial corporations 57 per cent in the last five years, the ...

The Retail Turnover Value Index increased by 7.7 per cent in March 2022 in comparison to the corresponding month of the previous year, according to data published by the statistical service on ...

Deputy Minister of Tourism Savvas Perdios earlier this week said that small, local communities are at the heart of the national tourism strategy moving forward. Perdios’ comments were part of ...

Adolfo Laurenti, Principal European Economist for multinational financial services firm Visa, earlier this week participated in an event co-hosted by the Cyprus Economic Society, as well as the Cyprus Association ...

The Famagusta Tourism Board (Etap) on Thursday night held an event designed to showcase the district’s tourist product to Polish tour operators. The presentation took place at the Thalassa ...

Cyprus’ fiscal accounts in the last quarter of 2021 generated a surplus of €37.7 million compared with a deficit of €648 million in the respective period of 2020. According to preliminary data released on ...

Tourist arrivals to Cyprus in March 2022 amounted to 128,840, with arrivals for the first quarter of the year reaching 244,705, according to data released on Thursday by the Cyprus Statistical Service (Cystat). ...

The Cyprus Computer Society announced this week that the inaugural edition of the European Coding Challenge will take place in Cyprus next month. The event, which is being held in ...

Students from the Paphos Technical School won first prize among their peers for creating and implementing the best innovative business idea in the ‘Ideodromio – Creativity, Innovation and Business Idea’ programme. ...

By George Pirishis It seems that something has started to shift in Cyprus’ Exclusive Economic Zone (EEZ) in relation to the Aphrodite block. In last week’s meeting between the ...

The Paphos branch of the association of hospitality venues (Sikap) on Wednesday announced that venue capacity in Polis Chrysochous reached 60 per cent during April. Ntinos Paraskeva, one of the association’...

The Cyprus Institute of Certified Management Consultants (Sesek) on Wednesday announced that it has entered into a partnership agreement with Cyprus International Institute of Management (CIIM). The partnership entails Sesek ...

The hotel occupancy rate in the Paphos district during the Catholic and Orthodox Easter period stood at 60 per cent, according to the president of the Paphos hoteliers association (Pasyxe) Thanos ...

Cyprus’ trade deficit in January of this year amounted to €523.6 million, compared to €434.3 million in the corresponding month of 2021, according to data released on Tuesday by the Cyprus Statistical Office (...

By George Pirishis A significant stagnation in terms of attracting investors for large-scale developments has been observed in the Cypriot real estate market. This slowing down of that particular segment ...

By Yiannis Seitanides Cypriot consumers have reacted, as one would expect, to the increased inflationary pressures of recent months by reducing the volume of their purchases at supermarkets and becoming ...

In April 2022, economic sentiment in Cyprus improved as the Economic Sentiment Indicator (ESI-CypERC) increased by 2.8 points compared with March 2022, as shown by data published by the Economics Research Centre of ...