#business

The Central Bank of Cyprus (CBC) has set the reference interest rate at 11.5 per cent, following the authority granted under Article 314A of the Criminal Code, Cap. 154. This new rate ...

Deputy Shipping Minister Marina Hadjimanolis is set to travel to the Sultanate of Oman on Saturday, February 1, according to an announcement released on Friday. This visit comes following an official ...

There was a 5.4 per cent increase in average gross monthly earnings for Cyprus employees in the third quarter of 2024, reaching €2,351, compared to €2,230 in the same period of 2023, according to the ...

The Cyprus Securities and Exchange Commission (CySEC) on Friday published a consultation paper setting out plans for financial entities regulated under DORA to pay an annual ICT oversight fee and ...

The Bank of Cyprus on Friday announced that it has responded to the European Central Bank’s (ECB) interest rate reduction decisions, lowering its reference rate for loans linked to ...

Finance Minister Makis Keravnos on Friday expressed satisfaction with the European Central Bank’s (ECB) decision to further reduce key interest rates by 0.25 per cent. In a written statement, Keravnos ...

Cyprus’ Research & Innovation Foundation (RIF) on Friday announced that the country’s startup ecosystem has been acknowledged for its progress in recent years. Specifically, Cyprus received the “Best Worldwide ...

Hellenic Bank senior general manager Stephanos Kassianides has highlighted the crucial role of a robust banking system in fostering business initiatives and economic growth. Speaking during a business event in ...

“Cyprus is not just an economic miracle; it’s a resilient, flexible, and forward-looking economy,” according to Stavros Ioannou, Deputy CEO of Eurobank. Speaking at a recent conference in Athens, ...

Greek companies are increasing their investments in Cyprus, drawn by its strategic location, stable economy, and access to Middle Eastern markets.   With over 1,500 Greek-affiliated companies operating in sectors such as ...

Optimism is growing about Cyprus’ potential to attract more foreign direct investment (FDI), despite a decline from an annual average of €5.7 billion between 2018 and 2021 to €4.8 billion in 2022 and €4.2 billion in 2023. ...

Global air travel revenues surged in 2024, with passenger numbers reaching a record 4.89 billion as demand rose 10.4 per cent over the previous year, exceeding pre-pandemic levels by 3.8 per cent.   This growth ...

The first central bank meetings of 2025 suggest it will be a year in which policymakers go their own way as economic paths diverge, as the United States holds interest rates ...

Cyprus’ industrial production index dropped by 4.9 per cent in November 2024, compared to the same month in 2023. Specifically, the index stood at 102.7 points, using 2021 as the base year set at 100 points, ...

The Cyprus Securities and Exchange Commission (CySEC) on Thursday hosted the plenary meeting of the International Organisation of Securities Commission’s (IOSCO) European Regional Committee (ERC) in Nicosia. The ERC ...

Mastercard (MA.N) reported a higher fourth-quarter profit on Thursday as a resilient economy encouraged consumers to ramp up spending during the holiday season, sending the company’s shares up 2 ...

Global arabica coffee prices hit record highs above $3.60 per lb on Wednesday as Brazil, by far the world’s largest producer, has few beans left to sell and as worries ...

Investors punished Microsoft with a 6 per cent share drop on Thursday as hefty AI bets failed to drive a big increase in its cloud revenue, while Meta rose 4 per cent ...

The Cyprus Securities and Exchange Commission (CySEC) on Thursday hosted the plenary meeting of the International Organisation of Securities Commission’s (IOSCO) European Regional Committee (ERC) in Nicosia. The ERC ...

The European Central Bank (ECB) on Thursday announced a reduction in its three key interest rates by 0.25 per cent. This brings the deposit facility rate to 2.75 per cent, the main ...

CFA Society Cyprus and the Cyprus Compliance Association (CCA) have announced the signing of a memorandum of understanding (MoU). According to the announcement, this aims to “elevate transparency and professional ...

The payments industry is undergoing a rapid transformation, with technological innovations like tap-to-pay, blockchain integration, and generative AI shaping its future, according to payments giant Mastercard. The company on Thursday ...

Logistics and tech company BOX NOW, which has set new standards in last-mile delivery across Greece, is also rapidly expanding into Cyprus. With substantial backing from Emma Capital Group, BOX ...

Affordable cities are gaining momentum in real estate as shifting work trends and rising demand reshape the market landscape, according to Ask Wire CEO and co-founder Pavlos Loizou. In a ...