#business

Building permits in Cyprus saw a sharp decline in July 2024, with only 97 permits authorised, it emerged on Wednesday. This marks a stark contrast to the 604 permits issued in July 2023, according ...

The pound held steady on both the dollar and euro on Wednesday as the relief investors felt from a cooler-than-expected inflation print that sparked a rally in gilts outweighed the ...

The Cyprus Chamber of Commerce and Industry (Keve) has appointed Emilios Michael and Andreas Andreou as its new deputy secretary generals. Emilios Michael, who previously served as director of labour ...

Spain’s decision to impose steep taxes on non-EU property investors using platforms like Airbnb has sparked debate over whether countries like Cyprus and Greece will benefit from the shift ...

The Cyprus federation of employers and industrialists (Oev) has announced the opening of applications for the 18th Cyprus Innovation Award Competition. “This longstanding event celebrates the ingenuity and creativity that ...

The Research and Innovation Foundation (RIF) has initiated a consultation for a new €10 million funding programme. The new programme, titled ‘STEP: Setting up facilities and production lines for manufacturing new ...

The Central Bank of Cyprus (CBC) has reported that the total post-tax profits of Cypriot banks reached €952.5 million for the first nine months of 2024, compared to €602.92 million at the end ...

The Central Bank of Cyprus (CBC) has announced an increase in the countercyclical capital buffer (CCyB) requirement for licenced credit institutions from 1 per cent to 1.5 per cent. The change, aimed ...

State-owned asset management company Kedipes this week provided updates on the implementation of the mortgage-to-rent scheme, revealing that approximately 25 rental agreements have been signed. In addition, the company said that ...

The Construction Production Index in Cyprus reached 110.92 points in the third quarter of 2024, with 2021 acting as the base year set at 100 points. This marks a 6.5 per cent increase compared to ...

The total value of non-performing exposures (NPEs) in Cyprus dropped to €1.6 billion by the end of September 2024, down from €1.7 billion in June. This decrease brought the NPE ratio to 6.5 per ...

No decision will be made for at least a couple of years on whether Britain will go ahead with a central bank digital currency for the general public, the Bank ...

Russia’s vast Arctic oil business is facing major disruption from US sanctions on its tankers and depots, stranding crude supplies previously snapped up by Asian buyers in storage, according ...

Andreas Demetriades, chairman of the Association of Large Investment Projects, emphasised the critical role of foreign investment in Cyprus’ development sector during the 2025 forecast presentation this week. He stated that ...

The British pound was poised to record a sixth consecutive day of decline against the dollar on Tuesday and hit a fresh 2-1/2-month low versus the euro as concerns ...

The total value of non-performing exposures (NPEs) in Cyprus dropped to €1.6 billion by the end of September 2024, down from €1.7 billion in June. This decrease brought the NPE ratio to 6.5 per ...

Global investment fund CarVal Investors has reduced its shareholding in the Bank of Cyprus to 5.9 per cent, according to an announcement made by the bank on the Cyprus Stock Exchange (...

The Cyprus Consumer Association this week urged individuals with consumer loans issued since July 1997 to take action against potential abusive terms in their agreements. It advised loan holders to file ...

Credit rating agency DBRS said this week that it expects continued growth in the global aviation industry in 2025. It mentioned that this involves potential improvements in operating margins for airlines, ...

The first official session of the advisory committee for strengthening the competitiveness and quality of the Cyprus flag was held in Athens this week, attended by Deputy Minister of Shipping ...

Invest Cyprus issued a statement on Monday underscoring the significance of five strategic Memoranda of Understanding (MoUs) signed on January 8 at the Egyptian presidential palace in Cairo. These agreements were ...

The Greek tourism sector concluded 2024 with record-breaking performance, setting an optimistic tone for the future. Although official data from the Bank of Greece is expected in the coming months, a ...

US banks will probably report stronger earnings this week, fueled by robust dealmaking and trading in the fourth quarter. The six biggest US lenders have benefited from a resurgence in ...

The number of job vacancies in London’s financial sector dropped by almost a fifth in the last three months of 2024 compared with the previous quarter, to its lowest level ...