Cyprus Business News

Cyprus-licensed bank AstroBank on Wednesday announced that it recorded an after-tax profit of €3.3 million in 2021, a notable improvement on the €18 million loss it sustained in 2020. Moreover, the bank recorded a ...

Hellenic Bank on Wednesday described the decision by the bank employees’ union Etyk to stage a 24-hour warning strike on May 31 as “sad and disappointing”. The Etyk executive council announced ...

Cyprus Airways on Wednesday announced that Paul Sies has been appointed to the position of chief executive officer, with Sies officially assuming the role on May 20. “Mr Sies has extensive ...

Universities and other educational institutions in Paphos, which have been increasing in number over the past few years, provide a valuable contribution to the development of the district, non-profit organisation ...

Cyprus Chamber of Commerce (Keve) vice president Andreas Demetriades on Tuesday called on the government and political parties to unite in order to best deal with the challenges posed by ...

A European Commission official on Monday urged the Cypriot authorities to proceed with the implementation of Cyprus’ National Recovery and Resilience plan, warning that Cyprus risks losing EU funds in ...

The number of investment institutions increased from 257 in December 2021 to 273 in March 2022, according to a report on Monday published by the Central Bank of Cyprus (CBC). Moreover, for the same ...

Lebanese banks are planning to close their branches in Cyprus, following a decision by the Lebanon Central Bank, according to a report by the Cyprus News Agency (CNA) released on ...

Cyprus continues to experience excessive macroeconomic imbalances, the European Commission said on Monday during the presentation of its 2022 European Semester Spring Package. “Overall, vulnerabilities are receding and are falling below ...

The Bank of Cyprus plans to reduce the number of its branches by 25 per cent and workforce by 15 per cent this year. In numbers, this means 500 jobs will go and ...

The Cyprus Shipping Chamber (CSC) on Friday announced that it welcomes the positions adopted by the Environment Committee (ENVI) of the European Parliament regarding the revision of the EU Emissions ...

The Bank of Cyprus on Thursday announced that it recorded a profit after tax of €21 million during the first quarter of 2022, €13 million higher than the corresponding period of 2021. Moreover, it ...

The Price Index of Construction Materials reached a historically high level in April 2022, with the prices of construction materials rising by 24.54 per cent year-on-year, according to a report by the ...

Deputy Minister for Research, Innovation and Digital Policy Kyriacos Kokkinos on Tuesday afternoon engaged with the local fintech community, during an event on digital assets, entrepreneurship and financial technology. The ...

The Cabinet of Ministers on Wednesday announced the approval of a 20 per cent tax cut for research and development projects. The tax cut is part of the broader strategy of ...

The growth rate of the Cypriot economy in the first quarter of 2022 remained positive, estimated to have risen by 5.8 per cent when compared to the corresponding quarter of 2021, according to ...

The positive year-over-year growth rate of the Cyprus Composite Leading Economic Index continues to slow down in April 2022. The index recorded a year-over-year increase of 2.4 per cent in April 2022, reaching ...

Cyprus Land and Building Developers Association general manager Mersina Isidorou on Tuesday said that the Cypriot construction sector can help the economy withstand the challenges that it is being faced ...

Hermes Airports on Tuesday announced that in May a total of 223 flights across 55 destinations are operating on a weekly basis from Paphos International Airport. In more detail, Paphos Airport this ...

Paphos hoteliers association (Pasyxe) president Thanos Michaelides on Tuesday said that hoteliers are currently faced with two challenges,the difficulty of finding staff, but also the high cost of of ...

The Cyprus Securities and Exchange Commission (CySEC) announced the launch of an online platform which will reinforce its efforts to curtail money laundering. CySEC, in a press release said that ...

An open letter outlining a range of measures for the government to implement, sent on Wednesday by the Cyprus Chamber of Commerce and Industry (Keve), has sparked a fierce reaction ...

Deputy Minister for Research, Innovation and Digital Policy Kyriacos Kokkinos announced on Friday the signing of a Memorandum of Understanding (MoU) with IDEA Innovation Centre president Charis Pouangare. The MoU ...

The government will continue supporting households and especially the vulnerable amid the rising inflation, Finance Minister Constantinos Petrides had told CNA, warning that tackling inflation is difficult due to its ...