Cyprus Business News

New corporate loans exceeding €1 million experienced a significant surge, totalling €599.1 million, in May 2023, driving the total amount of all new loans to €1.07 billion, compared to €473.9 million in the previous month. ...

President Nikos Christodoulides this week underscored the government’s commitment to the shipping industry and praised the multifaceted work of the Cyprus Shipping Chamber (CSC) during a formal meeting held ...

Cyprus experienced a significant decline in inflation during June 2023, reaching its lowest level in the past 25 months, according to a report released this week. The inflation rate was measured at 1.9 ...

The recently published European Innovation Scoreboard 2023 reveals that Cyprus has showcased robust innovation performance, positioning it as a strong innovator and above the European Union (EU) average. The report emphasises ...

Deputy Minister of Tourism Kostas Koumis described Saudi Arabia as a potentially significant tourism market for Cyprus. The minister’s comments were made during his visit to Saudi Arabia this ...

The number of registered unemployed individuals in Cyprus in June 2023 reached its lowest level in the past 17 months, according to seasonally adjusted data released this week by the state’s ...

The CYENS Centre of Excellence and the Cyprus University of Technology (Tepak) this week signed a cooperation agreement with the aim of further developing joint activities in the fields of ...

The Housing Price Index (HPI) in Cyprus experienced a substantial increase of 5.9 per cent during the first quarter of 2023 compared to the same period in 2022, according to a recent preliminary ...

The annual International Investment Awards ceremony, which was organised by Invest Cyprus, was held with great success, according to an announcement released on Thursday by the agency. Notably, the event ...

Cyprus’ wholesale and retail sector experienced a notable rebound in 2021, recording a 15.2 per cent increase in business volume compared to the challenging year of 2020, which was marred by strict Covid-19 ...

International fintech company Admirals, whose Cypriot offices are located in Nicosia and Limassol, recently endorsed the Cyprus Padel League Finals, an event which took place at the Mall of Cyprus ...

The governor of the Central Bank of Cyprus Constantinos Herodotou and the president of the European Banking Authority Jose Manuel Campa this week emphasised the potential for positive synergies between ...

Cyprus’ airports experienced a promising first half of 2023 as passenger traffic soared, marking a remarkable 3 per cent increase compared to the corresponding period in 2019. Hermes Airports, the company tasked with ...

Consulting and advisory firm PwC Cyprus on Tuesday said that its foundation is ushering in a new approach to social contribution, focusing on the three core pillars of education and ...

The Retail Sales Value Index in Cyprus recorded a year-on-year increase of 8.7 per cent in May 2023, while the Retail Sales Volume Index remained more subdued at 6.1 per cent, reflecting the ...

Attracting productive direct investments in our country is of paramount importance for the Government, Cyprus’ President Nikos Christodoulides said in his address at the 11th Invest Cyprus International Investments Awards ...

The Tax Department said on Tuesday that an amending law providing for income tax exemptions for non-residents of Cyprus has come into effect, and that the relevant tax form would ...

The liquidity and capitalisation of the Cypriot banking system are above the European Union average, while efforts on reducing non-performing loans are progressing well, the president of the European Banking ...

The Cyprus general government recorded a fiscal surplus of €315.1 million, equivalent to 1.1 per cent of GDP, between January and May 2023, according to a report by the state’s statistical service. ...

Startups4Peace recently launched an initiative that seeks to unite the two communities in Cyprus and empower aspiring entrepreneurs to build and expand their businesses. With its mission to bridge ...

Cyprus’ tourism revenue reached €217.6 million in April 2023, compared to €185.1 million in the same month of the previous year, marking a 17.6 per cent increase, according to a report by the state’...

Reflect Festival, the flagship technology event of Cyprus, is set to take over Limassol seaside this September again, with its most impactful program yet. Reflect Festival, one of the fastest-growing ...

By Charles Ellinas The UN Sustainable Development Solutions Network (SDSN) has just published the 2023 edition of its annual ‘Sustainable Development Report’, and it does not make good reading for Cyprus. ...

Here are the top business stories in Cyprus from the week starting June 26: Bars and restaurants across Cyprus experienced a notable decline in occupancy rates, with the drop in guests ...