Cyprus Business News

Interest rates for corporate deposits fell to a new historical low, reaching 0.02 per cent in December 2021, while the interest rate for household deposits remained unchanged at 0.06 per cent. Compared to ...

The total purchases of Cypriot bonds by the European Central Bank (ECB) amounted to €6.56 billion, under the Public Sector Purchasing Programme (PSPP) and the Pandemic Emergency Purchase Programme (PEPP). According ...

Deputy Ministers for Tourism and Shipping Savvas Perdios and Vassilis Demetriades welcomed the assurances by Royal Caribbean’s interest to invest in Cyprus, expressing their readiness to enhance the island’...

Cypriot fintech company WiRE, which mainly operates in the real estate market, announced on Wednesday that it has been accepted to participate in PricewaterhouseCoopers (PwC) UK’s Scale programme. PwC’...

Greek technology fund PJ Tech Catalyst, backed by Piraeus Bank (BOPr.AT) and the European Investment Fund, has agreed to sell its market research unit Pollfish to U.S.-based ...

The Cyprus Stock Exchange (CSE) and Athens Exchange Group (ATHEXGroup) announced on Wednesday their successful collaboration, resulting in the CSE becoming compliant with the Settlement Discipline Regulation, as of February 1...

The Cyprus Land and Building Developers Association (LBDA) warned against the potential rise in VAT for property purchases, saying that this would harm both the economy and first-time buyers. The ...

The establishment of a new hospitality school in Platres is aiming to tackle both labour shortages in the hospitality industry, as well as the issue of rural flight, people flocking ...

Limassol port management company DP World Limassol welcomed the world’s biggest cruise ship on Monday, Royal Caribbean International’s Wonder of the Seas. “It is with great pleasure that ...

The Cyprus Securities and Exchange Commission (CySEC) will further bolster its supervisory framework in a bid to go along with technological developments in the market, CySEC chairman George Theocharides said ...

The National Betting Authority generated €192 million in revenue during the third quarter of 2021, reflecting a 12 per cent increase over the corresponding quarter of the year before, according to a report ...

The Cyprus Stock Exchange (CSE) and Swiss Exchange (SIX) signed an agreement on Monday for the establishment of the post-trade infrastructure necessary to facilitate the dual-listing of Cyprus‘ Euro medium-term ...

High levels of private debt continue to stifle the growth of Cypriot banks, increasing fiscal vulnerability and negatively impacting credit availability, ratings agency Moody’s said on Monday. The agency’...

The Cyprus Economic Society (CES) will be hosting its annual economy panel on Thursday, with the online event delving into Cyprus’ economic outlook and prospects. Among the speakers are Bank ...

The Cyprus Deputy Ministry of Shipping announced on Friday the expiration of the deadline for the submission of tenders to establish a passenger maritime link between Cyprus and Greece, as ...

State-owned asset management company Kedipes announced on Friday that it repaid €60 million in state aid during the fourth quarter of the previous year, with state aid repayments reaching €250 million for ...

We are all aware of the US State Department statement on 10 January finally abandoning the East-Med gas pipeline. Predictably, that attracted most of the attention, but a key part of ...

By Zenon Papaphilippou As the Investment Funds Industry in Cyprus continues to prolifically expand and record growth, the responsibility for high standards of ethical professionalism becomes more pertinent than ever ...

The financial support given to companies affected by the ongoing pandemic announced by the Ministry of Finance this week seems to be financially bearable without serious consequences on public finances, ...

The Larnaca Tourism Development and Promotion Company (Etap) presented on Thursday a number of upgrades and additions to both the city and district’s tourist infrastructure for 2022. “The Larnaca tourism ...

The European Court of Auditors (ECA) said on Monday that a number of EU member states, including Cyprus, were still behind with their 5G network rollout plans. Moreover, Belgium, Bulgaria, ...

The deputy tourism ministry announced on Wednesday 12 grant schemes that will come into effect this year as part of its national tourism strategy 2030. “The plans concern the development of special ...

The cabinet has approved a new €3 million scheme to support businesses in light of the recent restrictions imposed in some sections of the economy, Finance Minister Constantinos Petrides said on ...

Total non-performing loans (NPLs) decreased by €32 million at the end of October 2021, compared to the previous month, when total loans increased by €14 million to € 27.91 billion. According to data released on ...