Cyprus Business News

Cyprus recorded a negative annual net financial position of -€29.12 billion in 2023, according to a report released on Tuesday by the state’s statistical service. As of December 31, 2023, the total ...

The Ministry of Energy, Commerce, and Industry on Tuesday approved changes to the “conserve and upgrade for businesses and other entities” grant scheme. The scheme aims to provide support for ...

Limassol led Cyprus’ high-value real estate market in September, driving €29.8 million in top property sales, according to real estate analytics firm Ask Wire. The district accounted for six of the ...

The Deputy Ministry of Tourism is set to launch a series of initiatives in 2025 to support, promote, and enhance Cyprus as a tourist destination, according to the budget it submitted ...

By Alexandros Clappas Sustainable finance has recently emerged as a key area of interest for modern investors and market participants. The term sustainable finance more broadly encompasses environmental, social, and ...

Cyprus Deputy Shipping Minister Marina Hadjimanolis is in Egypt to strengthen maritime cooperation between the two countries. Invited by Egypt’s Minister of Transport, the Cypriot minister will engage in ...

With the EU’s FuelEU Maritime regulation set to take effect in January 2025, Cyprus and Europe’s shipping sector face stringent emissions oversight, aiming to push the industry toward net ...

Cyprus’ refinancing needs will remain within manageable levels for the coming years, well below the ten per cent of GDP threshold. Projections estimate requirements at around three per cent of ...

If I ask you to say the first thing that comes to mind when I say “short-term rentals”, what would that be? Short-term rentals, or STRs for short, have become ...

Financial support and advisory services are essential for Cyprus’ small and medium-sized enterprises (SMEs) to enhance resource efficiency, according to a Eurobarometer survey. The survey, published by the European Commission, ...

Cyprus has made significant progress in attracting established tech companies to relocate their headquarters to the island, but there’s a critical aspect that needs improvement – the nurturing of early-stage ...

Cyprus recorded a 9.83 per cent enterprise birth rate and a 5.8 per cent business closure rate, positioning it moderately among EU countries for business growth and stability, according to a Eurostat ...

It has been over two-and-a-half years since ExxonMobil last drilled in Cyprus’ EEZ, but the company is about to come back. In an interview earlier this month the minister of ...

Here are the top business stories in Cyprus from the week starting October 21: A significant share of Cypriot wealth continues to languish in low-interest bank deposits, despite alternative investment options, ...

Scope Ratings has upgraded Cyprus’ long-term issuer and senior unsecured debt ratings to A- from BBB+, signalling a notable milestone as the country’s first A-level rating from a major ...

Cyprus has marked the best nine months ‘of all time’ in tourism this year, according to Deputy Minister of Tourism Costas Koumis. Making statements at the opening of the Cyprus ...

The Central Bank of Cyprus reported on Friday that total loans in Cyprus increased by €107.3 million in September, reversing a decline recorded in the previous month. This growth was primarily ...

By Charles Ellinas Finally, some good news about the beleaguered LNG import project in Cyprus. Energy Minister Giorgos Papanastasiou confirmed in parliamentary hearings that an agreement has been reached with ...

Cyprus’ Composite Leading Economic Index (CCLEI), maintained by the University of Cyprus’ Economics Research Centre (CypERC), recorded a year-on-year increase of 1.1 per cent in September 2024. This follows annual growth rates ...

The Cyprus Consumer Protection Service on Friday reported that inflation in September rose by 0.7 per cent year-on-year. Agricultural products saw a month-on-month increase of 3.1 per cent, while a 4.78 per cent ...

The Cyprus Stock Exchange (CSE) and Invest Cyprus, the country’s official investment promotion agency, signed a Memorandum of Understanding (MoU) on Friday. According to a joint statement from the ...

Cyprus’ Composite Leading Economic Index (CCLEI), maintained by the University of Cyprus’ Economics Research Centre (CypERC), recorded a year-on-year increase of 1.1 per cent in September 2024. This follows annual growth rates ...

The Bank of Cyprus’ compliance team has received significant recognition from the Association of Compliance Officers in Greece, according to an announcement released this week. The Compliance Awards ceremony took ...

Cyprus introduced its first zero-emission vessel, Evploia Aphrodite, at Larnaca Marina this week, with the support of Deputy Shipping Minister Marina Hadjimanolis. Evploia Aphrodite, developed by the Cyprus Marine and ...