Cyprus Business News

Household spending has seen a significant increase, according to the latest Household Budget Survey (HBS) by the Cyprus Statistical Service (Cystat). Specifically, the service reported that the average annual consumption ...

The Cyprus Borrowers Association (Syprodat) released a statement on Monday saying that despite recent interest rate cuts by the European Central Bank (ECB), many borrowers have not noticed a decrease ...

The Cyprus Borrowers Association (Syprodat) released a statement on Monday saying that despite recent interest rate cuts by the European Central Bank (ECB), many borrowers have not noticed a decrease ...

The Cypriot insurance industry is experiencing heightened merger and acquisition activity, mirroring developments in the banking sector, according to a report from Stockwatch. Major Greek banks have recently pursued acquisitions ...

Limassol-based maritime analytics firm KeelX launched on Monday a generative AI chatbot designed to support faster decision-making and improve operational efficiency across the shipping industry. According to the statement, KX-AI, ...

The Institute of Certified Public Accountants of Cyprus (Selk) has expressed reservations over certain provisions in a set of tax law amendments currently under review by the House finance committee. ...

Hellenic Bank has completed its latest voluntary exit scheme, with 154 employees departing the bank between February 17 and March 11. The initiative, which cost the group approximately €24.2 million, is expected to yield ...

By Spyros Ierides, CFA Society Cyprus In today’s modern era of cutting-edge technologies and Artificial Intelligence (“AI”), financial advice can be just a click away. Undoubtedly, this has led ...

Cyprus-based alternative investment fund Cyreit has announced the sale of Irida Tower, a multi-storey commercial building in Larnaca. The fund, a subsidiary of Prodea Investments, said that it is offering ...

By Nestor Fylaktos Recently the Cypriot electricity system has made it a habit to curtail a significant portion of solar Photovoltaic (PV) generation during daylight hours, to the irritation of ...

Cybersecurity has evolved from being a luxury to becoming a strategic priority for organisations, according to Minos Georgakis, Director of Advisory Services at PwC Cyprus. In a recent piece of ...

Cyprus has received a credit rating upgrade from Morningstar DBRS, which raised the country’s long-term foreign and local currency issuer ratings from BBB (high) to A (low), maintaining a ...

Here are the top business stories in Cyprus from the week starting March 17: The Cyprus International Businesses Association (CIBA) has sent a letter to Finance Minister Makis Keravnos, raising a ...

Central Bank of Cyprus (CBC) governor Christodoulos Patsalides on Friday highlighted the country’s economic transformation in recent years, while also outlining the challenges that lie ahead. Speaking at a ...

Deputy Minister of Shipping Marina Hadjimanolis attended the European Shipping Summit (ESS) this week, where she underlined the need to enhance competitiveness and inclusivity within European shipping. The event, held ...

CarVal Investors has further reduced its stake in the Bank of Cyprus, marking another significant divestment by the American investment fund. According to an announcement by the bank, CarVal has ...

Hermes Airports on Friday announced that it has successfully concluded the financing arrangements for the Phase 2 development projects at both Larnaca and Paphos airports. All necessary agreements with the financing ...

The Central Bank of Cyprus (CBC) and the European Stability Mechanism (ESM) on Friday hosted a high-level conference with the Cypriot economy at the heart of discussions. Specifically, the conference ...

Concerns were escalated in Parliament regarding the accessibility of ATMs for elderly residents in mountainous and other remote areas, who are forced to travel between villages to withdraw cash. This ...

Central Bank of Cyprus (CBC) governor Christodoulos Patsalides on Friday highlighted the country’s economic transformation in recent years, while also outlining the challenges that lie ahead. Speaking at a ...

The Cyprus University of Technology (Tepak) has signed a cooperation protocol with the National Documentation Centre (EKT) of Greece, strengthening ties and knowledge exchange between the two institutions. The signing ...

The environment department has given the green light to a €22 million high-rise building set to be constructed along the Limassol coastline. The proposed building, to be developed by by P....

The Bank of Cyprus has announced a new share buyback transaction as part of its ongoing repurchase programme. According to a statement issued on Friday, the bank acquired a total ...

Public-private partnerships (PPPs) can lead to major investment opportunities and change the development landscape to the benefit of both the government and private organisations, according to Invest Cyprus CEO Marios ...