Cyprus Business News

Almost 10,000 specialised professionals have relocated to Cyprus Information technology sector alone contributes €3 billion to economy More than 1,200 international companies have relocated to Cyprus in 2022, alongside 9,800 specialised members of staff, according ...

Four international rating agencies this week published the dates upon which they will issue their newest evaluating reports on the Republic of Cyprus’ creditworthiness for 2023. The assessments will take place ...

Cyprus VAT Association (Cyva) president Demetra Constantinou this week provided a summary of the benefits, services, and the reason for establishing the association. Constantinou stated that the main reason for ...

Cyprus-based RSL Revolutionary Labs, a healthcare-focused biotech company offering unique skincare formulations designed to treat the unmet needs of oncology patients, has announced that it has received a €700,000 investment from ...

The bank workers union (Etyk) on Wednesday released a statement responding to the recent decision by the attorney-general, stipulating that former bank employees who left their positions by accepting voluntary ...

Between the government’s main focus being more and better paid public employees and banks’ passiveness and single-mindedness the economy only works for the few President Nicos Anastasiades, Minister of ...

The European Central Bank (ECB) on Thursday said it has withdrawn the banking licence of Cyprus’ RCB Bank Ltd. The decision follows the orderly completion of the bank’s voluntary ...

Rising interest rates have not hit the real estate market as sales are up by 36 per cent compared to the same period last year, according to Elikkos Elia, director of ...

Cypriot businesses spend approximately one third of their total advertising budget on digital channels, with seven out of ten businesses estimating that they spend up to €100,000 on digital advertising, according ...

Hourly labour costs, which take into account the total cost incurred per hour, increased by 5.5 per cent in the third quarter of 2022, compared to the corresponding quarter of the previous ...

The Central Bank of Cyprus (CBC) on Tuesday announced the launch of a new Innovation Hub in the field of financial technology (fintech), in an effort to encourage and support ...

The outgoing government will hand over an economy built on solid foundations, as well as a state apparatus ready to respond to any unforeseen crises, President Nicos Anastasiades said on ...

The Paphos Chamber of Commerce and Industry (Evep) on Monday vowed to provide training resources for SMEs and entrepreneurs, including both existing and future ones, as well as examples, best ...

Rating agency DBRS Morningstar this week said that Cyprus was one of only five countries whose credit rating it upgraded during 2022, a year marked by a plethora of challenges, all ...

Kassatly Group Holding, a major player in the regional beverage sector, said that it will move to the island by the end of next year Lebanese drinks giant Kassatly Group ...

Cyprus Airways on Monday announced that it registered a 406 per cent increase in flights in November of this year, compared to the same month of 2021. The company said that it ...

Limassol-based rating agency Capital Intelligence this week announced that it has upgraded the Long-Term Foreign Currency Rating (LT FCR) of the Bank of Cyprus (BoC) to ‘BB’, from ‘BB-‘. In ...

The Bank of Cyprus was named Bank of the Year in Cyprus for 2022 by the international magazine ‘The Banker’. According to an announcement from the Bank of Cyprus, Panicos Nicolaou, ...

Innovative company Irerobot is aiming to establish a significant presence in the EU research and development ecosystem, focusing on projects that have a positive human, social and environmental impact. The ...

Cyprus’ GDP is estimated to have reached a growth rate of 5.8 per cent for 2022, according to a report released on Friday by the Central Bank of Cyprus (CBC). However, in ...

The board of directors of the state-owned Cyprus Asset Management Company (Kedipes) on Thursday announced that they have decided on a new payment to the state to the tune of €80 ...

Capital Intelligence Ratings (CI Ratings) this week announced that it has upgraded the Long-Term Foreign Currency Rating (LT FCR) of Hellenic Bank (HB) to ‘BB’ from ‘BB-‘ and affirmed the ...

Three important players in their industry are partnering up to explore disruptive technologies such as augmented reality and computer vision in order to improve efficiency in the shipping industry. Safetytech ...

The Cypriot economy continued its slowdown in November, carrying on with the trend of the two previous months, according to a report by the University of Cyprus Economic Research Centre ...