Cyprus banks among most profitable in Eurozone
Banks in Cyprus and Hungary are the most profitable for shareholders, the European Banking Authority (EBA) said on Friday, regarding the risk of Eurozone banks.
As of the end of ...
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More hybrid and electric cars on Cyprus roads
A notable upswing in the adoption of eco-friendly vehicles was seen in 2023 Cyprus, the Cyprus Statistical Service (CSS) said on Monday.
In total, passenger saloon registrations reached 36,608, a slight dip ...
Fuel prices decrease less than expected
Fuel prices saw a marginal decrease over the past week, contrary to expectations that accompanied the reduction in the consumption tax rates for motor fuels.
The reduced tax rates, effective ...
Cyprus Business Now: weekly wrap-up
Here are the top business stories in Cyprus from the week starting January 8:
Cyprus pensioners are poised to experience an uplifting change in their financial circumstances. The Union of Cypriot ...
Cyprus Business Now
In Q3 of 2023, the Cyprus Securities and Exchange Commission (CySEC) directed 335 Collective Investment Organisation Management Companies, with €8.6 billion in Assets Under Management.
This marked a slight increase from the previous ...
Registrar bows to pressure on company fines
The system for registering ultimate beneficial owners (UBO) at the Registrar of Companies, will allow companies to post this information without paying the fines imposed on January 1 for failing to ...
Rise in orders for ship using alternative fuel
Shipbuilding saw an 8 per cent increase in orders for alternative fuel-powered vessels, which have reached a total of 298 ships, in response to the International Maritime Organization’s (IMO) strict emission ...
Commissioner praises sustainable tourism initiative
The newly-appointed Commissioner for the Environment, Antonia Theodosiou, acknowledged the importance of the Cyprus Sustainable Tourism Initiative (CSTI) and its significance to the tourism industry.
Addressing the 16th Annual General ...
Cyprus boasts more than 400 startups
Cyprus’ innovation ecosystem boasts over 400 startups and innovative businesses, more than 2500 researchers, and over 4000 entrepreneurs, said Demetris Skourides, the chief scientist of the Research and Innovation Foundation.
“These numbers demonstrate ...
Cyprus Business Now
The latest figures published by the Cyprus Statistical Service (CSS) indicate a notable surge in both construction output and construction producer prices profits. Both construction output and construction producer prices ...
Junior Achievement startup launched
Junior Achievement Cyprus (JA Cyprus) is launching its JA StartUp, which is aimed at fostering business ideas and innovation among university students in Cyprus, for the fifth consecutive year.
It ...
Cash incentive for reducing greenhouse emissions
An amount of €5m has been allocated by the government to help businesses reduce their carbon footprint.
The support measure aims at encouraging businesses to reduce greenhouse emissions and was ...
State aid commissioner approves €240m for RESTART
Commissioner of State Aid, Stella Michaelidou, approved the “RESTART 2016 – 2020 Programs for Research, Technological Development, and Innovation of the Research and Innovation Foundation.”
The total budget for this, until the end ...
Cyprus Business Now
According to a report released by the Cyprus Statistical Service (Cystat), there was a 0.6 per cent year-on-year rise in the Home Price Index (HPI) during the third quarter of 2023. As ...
Housing prices continue on upward path
Cyprus housing market prices continued on an upward path in the third quarter of 2023, with apartments recording the highest increase.
The Central Bank of Cyprus (CBC) forecasted consistent growth on ...
Paphos digital upgrade targets tourists
Paphos is set to undergo a digital transformation in 2024 with the Paphos Regional Tourism Board (Etap) committing extensive funds to develop its digital presence.
Etap has announced an investment exceeding €220,000, ...
National Cybersecurity Certification Authority established in Cyprus
Cyprus has introduced the National Cybersecurity Certification Authority, with the primary objective of positioning it as a regional centre for cybersecurity services.
The authority, as per the announcement from the ...
Cyprus vehicle registrations increased 34.6% in 2023
Cyprus recorded an increase in registered vehicles throughout the year 2023, according to the latest report from the Cyprus Statistical Service (CSS), Motor Vehicle Registrations. The total number of registered vehicles ...
Cypriot loans reach €3 billion
Despite alterations in interest rates, Cypriot banks have maintained a steady pace in providing loans throughout 2023, exceeding €3 billion in total net new loans by November.
In November 2023, net new loans ...
Cyprus Business Now
Information reported by the Cyprus Statistical Service (Cystat) shows a change in the country’s trade balance for January to November 2023, indicating a considerable increase in the deficit by €962.3 million ...
WRA Consultants buy 50% of Aphrodite Hills Resort
Mediterranean Hospitality Venture (MHV) Ltd has agreed to sell 50 per cent of its stake in Aphrodite Hills Resort Limited (AHRL) to WRA Consultants Ltd, a private company registered in Cyprus.
...
Sunil Kapoor moves to the OL Shipping Group
Oesterreichischer Lloyd Shipping Group announced the appointment of Sunil Kapoor as its newest Partner and Chief Operating Officer.
Kapoor, with over 40 years in the maritime industry, will lead business development ...
Container costs rise because of Houthi attacks
Freight costs have increased dramatically as a result of the Houthi attacks on ships in the Red Sea, with some ships now going round the Cape of Good Hope to ...
Deal on standardisation with UK group
The Cyprus Organisation for Standardisation (CYS) and the Great Britain-Cyprus Business Association (GBCY) have announced a strategic partnership to strengthen business connections and opportunities between companies in the UK and ...