Business

Capital Intelligence Ratings (CI) has upgraded Cyprus’ long-term foreign currency rating and short-term currency rating to ‘BBB’ and ‘A2’, respectively, from ‘BBB-’ and ‘A3’, maintaining a positive outlook. The Limassol-based ...

Cypriot tourism remains resilient in the face of ongoing conflicts in Ukraine and the Middle East, with the sector recovering and bolstering the local economy, according to the Association of ...

By Ioannis Tirkides We use summary indicators to conveniently measure the performance and health of the economy. But while these can be useful in some respects, they have their drawbacks ...

Stellantis (STLAM.MI) is searching for CEO Carlos Tavares’ successor, the company has said, after the Chrysler parent laid out a plan to strengthen North America operations by slashing bloated ...

Europe’s biggest tour operator TUI this week confirmed its annual guidance and mid-term targets after a strong summer season, sending its shares up in morning trading. Shares in TUI ...

Both foreign and Cypriot investors have shown interest in the Larnaca port project, Transport Minister Alexis Vafeadis said on Friday, urging Cypriots to enter the bidding process. In statements after ...

Cyprus, as the 2024 president of the Med9 group of Mediterranean EU countries, is focusing on transforming the Mediterranean into a green energy corridor, according to Energy Minister George Papanastasiou. Addressing ...

Cypriot tourism remains resilient in the face of ongoing conflicts in Ukraine and the Middle East, with the sector recovering and bolstering the local economy, according to the Association of ...

To hack into opportunities in cryptocurrency often feels like hunting for a comet available in the sky. In the current time of the crypto space where numerous opportunities lay with ...

A proposal to acquire 100 per cent of the issued share capital of Proodos Public, and by extension Rodon Hotel in Agros, has been presented to its board of directors, it ...

The Shorewinner project, which aims to set up and develop a Southern European offshore wind energy community of practice, was successfully launched in Cyprus this week. The hybrid event took ...

US business professionals and executives expressed a strong interest in investing in Cyprus during a working lunch with president Nikos Christodoulides. The meeting, which took place in New York on ...

The Cypriot Union of Consumers and Quality of Life has called on the government to continue subsidies for vulnerable groups. This follows an announcement by the Finance Ministry on Thursday, ...

The Cyprus Shipping Chamber (CSC) held its monthly members’ meeting this week to commemorate World Maritime Day on September 26, featuring a presentation by Cecilia Müller Torbrand, CEO of the ...

The liquidity in Cyprus’ banking system reached €28.7 billion in August 2024, driven by an increase in deposits and a reduction in total loan balances, according to a report from the Central ...

The economic climate in Cyprus worsened in September, with the Economic Sentiment Indicator (ESI) decreasing by 1.4 points compared to August, according to the University of Cyprus’ Economics Research Centre (CypERC). ...

You don’t have to be an economic expert to know that developing countries face unique challenges and opportunities. Alejandro Betancourt López, a visionary leader in finance and development, ...

President Nikos Christodoulides and Vice President of Chevron Frank Kasalo, reaffirmed their support for the development of the Aphrodite gas field in Cyprus’ exclusive economic zone, it was reported on ...

The electricity subsidy and zero per cent VAT on 11 essential goods will be scrapped as of October 1. A finance ministry announcement said the scheme which expires on September 30 does not ...

ChatGPT-maker OpenAI is working on a plan to restructure its core business into a for-profit benefit corporation that will no longer be controlled by its non-profit board, people familiar with ...

Germany’s leading economic institutes have downgraded their forecast for 2024 and now see Europe’s largest economy shrinking by 0.1 per cent, they said in their autumn joint economic forecasts. The ...

HSBC said this week that it now expects the European Central Bank to cut interest rates by 25 basis points at every meeting from October through to April next year given ...

The European Commission sent a letter of formal notice to Cyprus on Wednesday, calling on it to speed up its issuing of permission for renewable energy projects. The letter said ...

Online broker Freedom24 on Thursday announced that the number of customers on its trading platform has exceeded 300,000 people, describing this feat as “a significant achievement”. “This milestone marks an important ...