Banking and Finance

The general government surplus in Cyprus surged by €469.9 million for January-August 2024, reaching €1.36 billion or 4.3 per cent of GDP. This total contrasts with the €898.5m (3.0 per cent of GDP) for the ...

Executives from Cyprus’ banking and real estate sectors met Monday to discuss aligning remittance rules with European standards and guidelines. The meeting between executives of the Cyprus Land and Building ...

Deputy minister of tourism Costas Koumis said that urgent joint actions were needed to safeguard Mediterranean coasts and seas and maintain their allure, at a ministerial meeting in Messinia, Greece, ...

RAVATAR made a debut during the European Researchers’ Night 2024 in Nicosia, unveiling its AI-powered hologram of Marie Curie. The innovative showcase demonstrated how artificial intelligence can transform the way we ...

Samsung Electronics is not interested in spinning off its contract chip manufacturing business as well as its logic chip designing operation, Chairperson Jay Y. Lee told Reuters on Monday. Analysts ...

British house prices rose in September at the fastest annual pace since November 2022, according to data from mortgage lender Halifax, as expectations of further reductions in borrowing costs added to ...

Tech firms have recently warned that soaring office rents – now exceeding those in London and Amsterdam – pose a serious threat to Cyprus’ goal of becoming a tech hub. The rising ...

Oil prices extended gains on Monday, with Brent nearing $80 to build on last week’s steepest weekly jump since early 2023, driven by fears of a wider Middle East conflict and ...

The government on Monday poured cold water on a proposal to tax the interest earnings of banks, arguing that such a step would adversely impact the financial system. Officials and ...

Agriculture Minister Maria Panayiotou, sang the praises of Athienou village as she reaffirmed the government’s commitment to developing Cyprus’ rural economy by strengthening rural businesses and communities. Speaking at ...

Environment commissioner, Antonia Theodosiou, said the government was committed to the financial support of the wine industry. Speaking at the Afamia – Grape Festival in Koilani, of behalf of the president, ...

PwC Cyprus is announcing the launch of PwC’s Academy Business Professionals Certificate (BPC) this October. Developed in partnership with the Institute of Chartered Accountants in England and Wales (ICAEW), ...

Tech firms have warned that soaring rents for offices – higher in some cases than in London and Amsterdam – were threatening Cyprus’ ambition to become a tech hub. The rising cost ...

Facebook, one of the original social media networks, has become known as the platform of parents and grandparents, while young adults take up photo and video apps like Instagram and ...

Google is testing showing check marks next to certain companies on its search results, a company spokesperson said on Friday, in a move aimed at helping users identify verified sources ...

OpenAI recently closed a $6.6 billion funding round at a $157 billion valuation that highlighted the enthusiasm around generative artificial-intelligence technology since the startup burst onto the scene with the launch of ...

A high-stakes corporate earnings season kicks into gear next week, with bullish investors hoping results will justify increasingly rich valuations in a U.S. stock market near record highs. The ...

Britain’s finance industry on Friday called on the new Labour government to phase out additional taxes on banks, warning that lenders in London face a higher total tax burden ...

Britain’s construction sector grew at its fastest pace in nearly two-and-a-half years in September, helped by a sharp jump in civil engineering and an upturn in house-building, but costs ...

Here are the top business stories in Cyprus from the week starting September 30 The European Researchers’ Night, under the motto “Mission Possible,” drew thousands of visitors to the Cyprus State ...

OpenAI, the company behind ChatGPT, has raised $6.6 billion from investors, which could value the company at $157 billion and cement its position as one of the most valuable private companies in ...

Meta Platforms must restrict the use of personal data harvested from Facebook for targeted advertising, Europe’s top court ruled on Friday, backing privacy activist Max Schrems. Schrems took his ...

Oil prices rose further on Friday and were on track for strong weekly gains as investors weighed the prospect of a wider Middle East conflict disrupting crude flows against a ...

The rate of inflation in Cyprus hit a three-year low of 0.7 per cent in September, mainly due to the fall in oil prices. According to the Cyprus Statistical Service (Cystat), ...