Cyprus Business News

By Charles Ellinas With no end in sight for the Russia-Ukraine war, global energy markets will continue to be unstable, making 2023 another difficult year for global energy. On top of ...

Central Bank of Cyprus (CBC) governor Constantinos Herodotou on Friday stressed the need to maintain fiscal space in the midst of increased risks due to the war in Ukraine, something ...

The Research and Innovation Foundation (Idek) on Friday announced that it will be allocating €10 million to innovative businesses as part of its DISRUPT programme, with the ultimate aim being to ...

The total number of trips by Cypriot residents abroad increased by 129.4 per cent in December 2022, compared to December 2021, mirroring the broader trend in international air travel, which continues to recover. ...

Construction material prices in Cyprus reached a historically high level in 2022, surpassing the previous record recorded in 2021, according to a report released this week by the Cyprus Statistical Service (Cystat). ...

Qatar Airways and Hermes Airports this week announced that the two parties came together to celebrate the airline’s 25th anniversary, along with what was deemed to have been a ...

Cypriot banks enter the cycle of uncertainty created by the war in Ukraine in a strong position, Andrea Enria, President of the ECB’s Supervisory Council told CNA, calling however ...

The Covid-19 pandemic exposed the weaknesses of more analogue businesses Digitisation is crucial in increasing productivity across all sectors of the Cypriot economy, according to a labour study published on ...

The harmonised index of consumer prices in Cyprus rose to 8.1 per cent in 2022, compared to 2021, according to a report released on Wednesday by the Cyprus Statistical Service (Cystat). In addition, ...

Tourist arrivals to Cyprus reached 3,201,080 people in 2022, compared to 1,936,931 in 2021, according to a report released on Tuesday by the Cyprus Statistical Service (Cystat). Despite the uptick over the year before, ...

The majority of chief executive officers believe that global economic growth will decline over the coming year, with 73 per cent of participants contributing to the most pessimistic outlook in more ...

The Bank of Sydney this week announced that its long-serving CEO, Miltos Michaelas, will be departing the bank at the end of June 2023 to return to Cyprus after over 6 years ...

The Cyprus Economy and Competitiveness Council on Monday said that Cypriot businesses can become better equipped to offer more value to their customers by exploring the possibility of mergers and ...

The Council for Registration of Real Estate Agents on Monday released a statement saying that the total value of all real estate sold in Cyprus in 2022 reached approximately €6 billion. “Amidst ...

French multinational hospitality company Accor, which owns, manages and franchises hotels, resorts and vacation properties, has announced that it will soon open a new hotel in Cyprus. Accor is the ...

Leading global communication service provider Tototheo Maritime on Monday announced that it has added Starlink’s new low latency high-speed connectivity to its portfolio of services. “This marks a new ...

Hellenic Bank CEO Oliver Gatzke on Friday said that the bank’s performance in 2022 was very good, amidst difficult conditions, while also outlining the challenges and goals for the new ...

The producer price index in Cyprus’ construction sector increased by 11 per cent in the third quarter of 2022, compared to the corresponding quarter of 2021, reaching 129.53 units, according to a report released ...

The Cyprus Economy and Competitiveness Council on Friday published a report outlining a number of recommendations that seek to provide both medium and long-term solutions to the ongoing issue of ...

There was a decrease of 4.9 per cent in the number of building permits issued in Cyprus between January and October 2022, according to a report released on Thursday by the Cyprus ...

Cyprus Airways says that summer ’23 bookings are looking strong Cyprus Airways on Thursday released a report detailing passenger traffic results for the entirety of 2022, as well as the monthly results ...

The House Price Index registered an annual increase of 5.3 per cent during the third quarter of 2022, amounting to 112.51 points, according to a preliminary estimate released this week by the Cyprus ...

Cypriot fintech Ask WiRE CEO Pavlos Loizou, in an analysis piece examining the landscape of the domestic real estate market in the coming year, explained that residential property prices will ...

‘Larnaca’s character must be preserved at all costs’ President of the Larnaca Chamber of Commerce (Evel) Stavros Stavrou on Tuesday expressed optimism that the various innovative actions, combined with ...