Cyprus by the Numbers

The total amount of non-performing loans (NPLs) decreased by approximately €8 million in July over the previous month. This has resulted in a reduction of the NPLs index to 17.4 per cent ...

Cyprus Chamber of Commerce and Industry president Christodoulos Angastiniotis has accused labour unions of making demands that are both unrealistic and unfeasible for businesses. “Unions must realise the severity of ...

Hellenic Bank has released new eco-friendly credit and debit cards made out of biodegradable material. Available since Monday, October 25, in Mastercard form, the new cards require 82 per cent less PVC (...

Approximately one in five (21 per cent) people in Britain have a foreign holiday booked at the moment, easyJet’s ‘Taking The Temperature’ report has revealed. Moreover, roughly a quarter of ...

The government of Egypt has confirmed the double tax treaty with the Republic of Cyprus. The confirmation came through Egyptian president Abdel Fattah Al-Sisi who ratified the agreement. The double ...

Finance Minister Constantinos Petrides said on Friday that the green transition will not be a painless process, highlighting the financial burdens it will likely incur on some sections of the ...

The Governor of the Central Bank of Cyprus Constantinos Herodotou said that financial literacy is a key element for a well-functioning economic system and thus a minimum requirement for sustainable ...

According to the Cyprus Statistical Service (CyStat), Cyprus’ trade deficit rose to €3.165.7 million for the period between January and July 2021, marking an increase of 23.3 per cent year-on-year. The total imports ...

Boosted by elevated business activity and the tourism sector, the Cypriot economy remains on a path of growth and recovery according to a report by the University of Cyprus Economic ...

American credit rating agency S&P has released a report affirming RCB Bank with a rating of “BB-” with a stable outlook. RCB Bank’s long and short-term credit ...

Cyprus’ residential property price indexes plateaued somewhat during the second quarter of 2021 according to data released by the Central Bank of Cyprus. The indexes were affected by a slight drop ...

The Cyprus Chamber of Commerce and Industry (CCCI), in collaboration with a number of economists, has prepared a study on the Cypriot economy and what policies can be implemented in ...

The Federation of Environmental Organisations in Cyprus (Opok) has welcomed the launch of the government’s seven-year plan to help promote the circular economy in Cyprus, praising its use as ...

By Andreas Charalambous and Omiros Pissarides Following the prolonged period of subdued inflation, discussions are currently focusing on the evolution of prices, given their serious effects on citizens’ everyday lives ...

By George M. Georgiou According to Eurostat’s data browser, Cyprus’ real per capita GDP in 2020 was €23.050, which is about 87 per cent of the EU-27 average. One could be forgiven ...

Aspiring unicorn ventures, meaning startup companies reaching a valuation of $1 billion, took centre stage on the second day of the Reflect Festival in Limassol. The startup event was a Cyprus ...

Bank of Cyprus’ Director of Compliance Division Marios Skandalis said that the coronavirus pandemic has given businesses an opportunity to reshape their long-term strategies to ensure their viability. “A business ...

Deputy Minister of Shipping Vasilis Demetriades stressed the importance of digital technology for the maritime sector during his speech at the CSN Cyprus Shipping ICT Conference in Limassol on Thursday. “...

Cash collections of the Cyprus Asset Management Company (KEDIPES) reached €95.2 million in the second quarter of 2021 with total cumulative cash collections since KEDIPES establishment in September 2018 exceeding €1 billion. Assets under ...

Over the past few years, there have been concerted efforts to grow Cyprus’ technology sector, with Deputy Minister Kyriacos Kokkinos recently announcing that additional incentives will soon come into force. ...

Cypriot consumers will be paying the domestic rate of VAT when purchasing goods online following the implementation of six pieces of legislation by the House Finance Committee. This means that ...

Cyprus’ connection to the sea is fundamental for both the nation and its economy, Deputy Minister of Shipping Vasilis Demetriades said on Tuesday presenting the government’s long-term shipping strategy. “...

The International Monetary Fund revised upwards the growth rate of the Cypriot economy, compared to its forecasts for last April. According to the World Economic Outlook (WEO) published on Tuesday, ...

The Cyprus Investment Funds Association (CIFA), supported by Invest Cyprus, organised and ran an online workshop explaining the intricacies of the EU Recovery and Resilience plan for Cyprus. A number ...