Cyprus Business News

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 ...

In a letter to Minister of Labour and Social Security of Cyprus Zeta Emilianidou, the Cyprus Chamber Of Commerce and Industry has voiced its disapproval for a remote working mandate. “...

European Stability Mechanism (ESM) chief Klaus Regling said on Monday following a Eurogroup meeting that none of the five member states in the Post-Programme Monitoring (PPM) framework is in immediate ...

Property sales across three major Limassol municipalities exceeded €6.3 billion in value over the past five years, a report from independent real estate asset management and advisory firm WiRE has shown. ...

The Association for the Protection of Borrowers (Syprodat) has issued a reminder that the state-backed business loan scheme has come into effect. The scheme stipulates that state guarantees will cover 70 ...

The Minister of Energy, Commerce and Industry Natasa Pilides, is in Houston to attend the World Petroleum Congress where she had meetings scheduled with foreign counterparts, US state officials and ...

How the academic and research community can transform their findings into innovative, real-world solutions and applications was the focus of an event last week that looked at the growing technology ...

The Bank of Cyprus has become the first bank in Cyprus to set up a dedicated management unit for technology companies that relocate to the island. The new technology hub ...

Total new loans granted by Cyprus’ banks decreased by € 72.6 million in October 2021, compared to the previous month, mainly due to the significant reduction of new loans to non-financial corporations for ...

The modernisation of internal procedures and the adoption of a more open approach were highlighted as urgent necessities in a report by the Cyprus Ports Authority released this week. The ...

According to a report released by the Cyprus Statistical Service (CyStat) this week, Cyprus’ GDP growth rate in real terms during the third quarter of 2021 is positive and estimated at 5.5 ...

Chamber of Commerce and Industry president Christodoulos Angastiniotis expressed ‘strong reservations and concerns’ about the potential introduction of the minimum wage in Cyprus on Wednesday, adding that the current system ...

Business activity in the accommodation and food services sector has increased significantly, rising by 84.1 per cent in the third quarter of 2021, according to a report by the Cyprus Statistical Service. ...

The Bank of Cyprus has posted an after-tax profit of €19 million for the third quarter of 2021, with after-tax profit reaching €20 million for the first nine months of the year, it ...