Business

The Paphos Regional Tourism Board (Etap) recently completed a survey revealing that the district has a capacity of approximately 20,000 beds, across 6,000 self-catering accommodation units, which includes villas, houses, and apartments. ...

The Central Bank of Cyprus (CBC) has decided to maintain the countercyclical buffer rate at 1 per cent, with effect from June 2, 2024. According to a statement by the CBC, “in accordance ...

The PwC Cyprus Foundation participated for the second consecutive year in an initiative that sought to promote financial literacy among the youth, held during Global Money Week, which took place ...

The fleet of vessels registered under the Cypriot flag has seen a significant increase of approximately 5.5 per cent, equivalent to about 1.1 million tonnes, over the past six months, according to ...

Total deposits in Cyprus saw a significant net increase of €65.4 million in February 2024, rebounding from a substantial decrease of €366 million during the previous month, according to a report on deposits ...

The board of directors of state-owned asset management company Kedipes this week decided to make the largest quarterly cash payment to the state since its establishment in 2018, amounting to €140 million, ...

Cyprus’ Industrial Production Index for January 2024 saw a 4.2 per cent rise compared to the same period in 2023, reaching 99.5 units, with 2021 being the base year with a value of 100 units, according ...

Some Western companies have sold their Russian assets or handed them over to local managers to comply with sanctions over the war in Ukraine and respond to threats from the ...

President Nikos Christodoulides on Thursday met with the advisory committee on tax reform, asking that progress on this matter be accelerated, in order to reap any benefits at the earliest ...

UBS (UBSG.S) flagged on Thursday the downturn in commercial real estate markets as one of the “top and emerging risks” facing the Swiss bank, as higher borrowing costs and ...

The collapse of Baltimore’s Francis Scott Key Bridge is likely to lead to a multi-billion dollar insurance loss, the chairperson of commercial insurance market Lloyd’s of London (SOLYD....

Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in ...

Kremlin spokesman Dmitry Peskov said on Thursday that Russia was working with partners amid unprecedented pressure from the US and European Union after Reuters reported Moscow was experiencing some delays ...

Central Bank of Cyprus (CBC) governor Constantinos Herodotou on Thursday utilised the second educational video by the CBC to emphasise the vital importance of digital financial literacy in today’s ...

President Nikos Christodoulides on Thursday met with the advisory committee on tax reform, asking that progress on this matter be accelerated, in order to reap any benefits at the earliest ...

The largest global pitch competition, Startup World Cup, is making its debut in Cyprus this year, with the application phase for startups commencing on March 25, and entries will be accepted ...

The pound eased on Thursday after data confirmed the UK economy entered recession in the second half of last year and as the dollar put on a display of broad-based ...

The recent annual tourism conference, organised by the Association of Cyprus Tourist Enterprises (Stek) with the support of Hellenic Bank, focused on discussing the future of Cyprus’ tourism industry and ...

The economic climate in Cyprus experienced a downturn in March, with the Economic Sentiment Indicator (ESI) falling due to worsening business conditions across all sectors. Specifically, according to the Centre ...

Cyprus’ state budget deficit for 2023 increased by €80 million, compared to the deficit recorded in 2022, according to the state’s fiscal report submitted to the House of Representatives this week. Specifically, ...

DP World, a global logistics company, hosted Transport Minister Alexis Vafeades and Shipping Deputy Minister Marina Hadjimanolis, at its Dubai Headquarters on March 25-26, according to a statement released this ...

Interior Minister Constantinos Ioannou addressed the 18th Real Estate, Land Development, Planning, and Construction Conference on Wednesday, outlining recent developments in the real estate sector, as well as the government’...

The total sales of petroleum products in Cyprus reached 115,421 tons in February, marking a 7.1 per cent increase compared to February 2023, according to a report released on Wednesday by the Cyprus ...

Britain’s financial watchdog set out guidelines earlier this week to stop misleading adverts on social media, and warned “influencers” that promoting a financial product without regulatory approval could be ...