Cyprus Business News

New business and household loans in Cyprus reached a record high of €3.9 billion in 2024, up from €3.3 billion in 2023, according to the Central Bank of Cyprus (CBC). This total represents the ...

Exploration activities in three offshore blocks inside Cyprus’ exclusive economic zone (EEZ) have come to an end after the licenses expired without renewal, the government said on Tuesday. Licenses to ...

Deputy Minister of Innovation Nicodemos Damianou met Greek Minister of Digital Governance Dimitris Papastergiou at the inaugural Cyber Intelligence Summit in Athens on Tuesday. According to an official announcement, the ...

EVH Investments Limited on Tuesday announced the mandatory public takeover offer for Salamis Tours was completed on January 31. The offer, initially submitted on November 12, 2024, aimed to acquire up to 100 per ...

Despite Cyprus’ relatively modest trade volume with the US, the island could still experience indirect effects of US tariffs on European goods, warned Sofronis Clerides, professor of economics and dean ...

Both apartment prices and rental costs in Cyprus increased during the fourth quarter of 2024, rising by 1.3 per cent and 1.5 per cent year-on-year, respectively, according to real estate analytics firm Ask ...

Hellenic Bank on Tuesday announced a further reduction in the reference rate for all loans linked to the European Central Bank’s (ECB) base rate. Specifically, the interest rate has ...

Cypriot banks are expected to prioritise new lending in 2025 and beyond, as they seek to offset the impact of lower interest rates and capitalise on a historically low loan-to-deposit ratio. ...

Deputy Shipping Minister Marina Hadjimanolis strengthened Cyprus’ maritime ties with Oman by signing two crucial Memoranda of Understanding (MoUs) this week in Muscat. These agreements focus on maritime cooperation and ...

Bank cards remain the most widely used payment method in Cyprus by total transaction volume, according to the Central Bank of Cyprus’ (CBC) latest payment statistics report. The report, which ...

The retail trade turnover index in Cyprus increased by 5.8 per cent in December 2024 compared to the same month in the previous year, according to data released by the Cyprus Statistical ...

Interest rates on deposits and loans in Cyprus and Greece vary significantly, with Cypriot banks generally offering lower deposit rates than their Greek counterparts, In addition, according to a report ...

The government on Monday announced the launch of a fast-track process for the issuance of building licences for certain types of residential units, saying the step would also go some ...

The protection of borrowers hinges not only on legal compliance but also on the social responsibility of banks and credit acquisition companies (CACs), according to Costas Melas, president of the ...

Deputy Minister of Innovation Nicodemos Damianou will meet with the Greek Minister of Digital Governance Dimitris Papastergiou in Athens this week, according to an announcement released on Monday. The two ...

Cyprus’ cruise sector is set for a significant upturn, expecting a 30 per cent surge in ship arrivals this year, according to Deputy Shipping Minister Marina Hadjimanolis. In addition, 139 vessels are ...

The National Bank of Greece (Cyprus) recently presented its activities in the Cypriot business environment during a conference held in Athens. In a speech delivered at the event, Marilena Sevastidou, ...

Non-profit social venture and think tank CyprusInno, powered by SocialTech Lab, has successfully concluded the 2024 Academy for Women Entrepreneurs (AWE) in Cyprus, according to an official announcement. Now in its ...

Cyprus’ industrial producer prices decreased by 1.9 per cent in 2024 compared to the previous year, according to the latest data from the state statistical service. The Producer Price Index (PPI) for ...

Here are the top business stories in Cyprus from the week starting January 27: The Limassol Chamber of Commerce and Industry (Evel) has called for a comprehensive and environmentally conscious approach ...

Kyndryl, the world’s largest IT infrastructure services provider, with a presence in Cyprus, hosted a well-attended event on Thursday, January 23, 2025, focusing on IT readiness and modernisation.  Themed “Navigating IT ...

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 ...

Economic sentiment in Cyprus experienced a slight downturn in January 2025, with the Economic Sentiment Indicator (ESI-CypERC) decreasing by 0.6 points compared to December 2024. According to the Economics Research Centre of the ...

Parliament has approved the Cyprus Stock Exchange (CSE) budget for 2025, with 35 votes in favour and two abstentions. The budget is expected to run at a deficit of approximately €1.88 million. Specifically, ...