Cyprus Business News

Cyprus needs bold solutions to address its housing crisis, according to Yiannis Misirlis, president of the Cyprus Land and Building Developers Association (LBDA). Speaking at a conference titled “Housing Policy: ...

Cyprus recorded a fiscal surplus of €631.80 million in 2023, corresponding to 2 per cent of its GDP, according to a report from the state’s statistical service. Meanwhile, the public debt for ...

Cyprus recorded a fiscal surplus of €631.80 million in 2023, corresponding to 2 per cent of its GDP, according to a report from the state’s statistical service. Meanwhile, the public debt for ...

The ongoing conflict in the Red Sea, marked by frequent Houthi rebel attacks, poses a grave threat to global shipping and international trade, according to the Cyprus Shipping Chamber. In ...

Cyprus’ gross government debt-to-GDP ratio stood at 70.5 per cent at the end of the second quarter, reflecting a drop both on an annual and quarterly basis. In contrast, the eurozone’...

Energy regulators in the EU have raised concerns that the slow rollout of smart meters is hindering the electricity system’s flexibility, according to Andreas Poullikas, chairman of the Cyprus ...

Have the Houthi attacks significantly affected the Cyprus shipping industry? What are the measures that have been taken in order to preserve freedom of navigation? In the Red Sea, freedom ...

Hellenic Bank has announced the launch of new and upgraded service points designed to bring innovation to banking transactions. The new branches, equipped exclusively with advanced ATMs, will be located ...

Cyta this week unveiled its new corporate identity, emphasising technological innovation and a customer-centric approach. During an event at the Cyprus Planetarium on October 21, the company showcased its renewed philosophy, ...

The Cyprus Securities and Exchange Commission (CySEC) on Tuesday released a statement requiring Cyprus Investment Firms (CIFs) to adopt the European Banking Authority (EBA) guidelines on the application of the ...

The Republic of Cyprus is expected to secure a new loan in 2025 to repay the first instalment of a €6.3 billion loan received from the European Stability Mechanism (ESM). This projection ...

Registration for the 2024-2025 European Statistics Competition will take place from October 21 to November 19, according to an announcement from the Press and Information Office (PIO). The office explained that the ...

Significant external and internal risks to the economy were highlighted by Finance Minister Makis Keravnos on Monday during the presentation of the 2025 state budget at the House finance committee. Despite ...

Illicit cigarette consumption in Cyprus remains a pressing issue, accounting for 11 per cent of the total market, according to KPMG’s 2023 independent report for Philip Morris International. While this marks ...

A significant share of Cypriot wealth continues to languish in low-interest bank deposits, despite alternative investment options, according to senior investment specialist at Athlos Capital Phanos Vladimirou. He also attributed ...

New home sales in Cyprus reached €1.9 billion during the first nine months of 2024, according to a report from Nicosia-based firm Landbank Analytics. According to the report, this figure represents a 25 ...

Here are the top business stories in Cyprus from the week starting October 14: Rising interest rates, which have resulted in increased borrowing costs, have weighed heavily on mortgage demand in ...

The Construction Materials Price Index recorded a slight decrease on an annual basis for September 2024, according to data from the Cyprus Statistical Service. The index reached 117.27 points during this time, ...

The Deputy Ministry of Tourism on Friday outlined the need to address long-standing challenges in the tourism sector, in order to maximise its performance and boost the Cypriot economy. Initiatives ...

Cyprus’ gross domestic product (GDP) in nominal terms (current prices) reached €31.34 billion in 2023. This marks a growth rate of 6.5 per cent, according to the major revision of national accounts for 1995–2022 ...

The Deputy Ministry of Tourism on Friday outlined the need to address long-standing challenges in the tourism sector, in order to maximise its performance and boost the Cypriot economy. Initiatives ...

Fiscal Council president Michalis Persianis on Friday raised concerns over the growing trend in consumer loans, which, according to him, are being granted easily by some banks without collateral. He ...

Cyprus advanced its space ambitions as the Cyprus Space Research and Innovation Centre (C-SpaRC) recently showcased key developments in its space programme. The Cyprus Space Exploration Organisation (CSEO) described C-SpaRC ...

Businesses in Cyprus are strengthening their cybersecurity measures in anticipation of the European Union’s network and information security directive (NIS 2). The new directive comes into effect across all 27 EU ...