Cyprus Business News

The Central Bank of Cyprus (CBC) has decided to maintain the countercyclical buffer rate at 1 per cent, with effect from June 2, 2024. According to a statement by the CBC, “in accordance ...

The PwC Cyprus Foundation participated for the second consecutive year in an initiative that sought to promote financial literacy among the youth, held during Global Money Week, which took place ...

The fleet of vessels registered under the Cypriot flag has seen a significant increase of approximately 5.5 per cent, equivalent to about 1.1 million tonnes, over the past six months, according to ...

Total deposits in Cyprus saw a significant net increase of €65.4 million in February 2024, rebounding from a substantial decrease of €366 million during the previous month, according to a report on deposits ...

The board of directors of state-owned asset management company Kedipes this week decided to make the largest quarterly cash payment to the state since its establishment in 2018, amounting to €140 million, ...

Cyprus’ Industrial Production Index for January 2024 saw a 4.2 per cent rise compared to the same period in 2023, reaching 99.5 units, with 2021 being the base year with a value of 100 units, according ...

President Nikos Christodoulides on Thursday met with the advisory committee on tax reform, asking that progress on this matter be accelerated, in order to reap any benefits at the earliest ...

Central Bank of Cyprus (CBC) governor Constantinos Herodotou on Thursday utilised the second educational video by the CBC to emphasise the vital importance of digital financial literacy in today’s ...

President Nikos Christodoulides on Thursday met with the advisory committee on tax reform, asking that progress on this matter be accelerated, in order to reap any benefits at the earliest ...

The largest global pitch competition, Startup World Cup, is making its debut in Cyprus this year, with the application phase for startups commencing on March 25, and entries will be accepted ...

The recent annual tourism conference, organised by the Association of Cyprus Tourist Enterprises (Stek) with the support of Hellenic Bank, focused on discussing the future of Cyprus’ tourism industry and ...

The economic climate in Cyprus experienced a downturn in March, with the Economic Sentiment Indicator (ESI) falling due to worsening business conditions across all sectors. Specifically, according to the Centre ...

Cyprus’ state budget deficit for 2023 increased by €80 million, compared to the deficit recorded in 2022, according to the state’s fiscal report submitted to the House of Representatives this week. Specifically, ...

DP World, a global logistics company, hosted Transport Minister Alexis Vafeades and Shipping Deputy Minister Marina Hadjimanolis, at its Dubai Headquarters on March 25-26, according to a statement released this ...

Interior Minister Constantinos Ioannou addressed the 18th Real Estate, Land Development, Planning, and Construction Conference on Wednesday, outlining recent developments in the real estate sector, as well as the government’...

The total sales of petroleum products in Cyprus reached 115,421 tons in February, marking a 7.1 per cent increase compared to February 2023, according to a report released on Wednesday by the Cyprus ...

Cyprus Securities and Exchange Commission (CySEC) revealed on Wednesday it would go tough on scrutinising the cross-border activities of Cypriot Investment Firms (CIFs) involved in distributing complex financial products. In ...

The Cyprus Chamber of Commerce & Industry (Keve) on Wednesday successfully held its ‘Cyprus-Estonia: Promoting Bilateral Collaborations‘ event, as part of the official visit of the President of Estonia Alar ...

Cyprus saw a decrease in net demand for new business loans in the final quarter of 2023, continuing a downward trend observed since the first quarter of 2022, albeit to a lesser ...

International rating agency, Morningstar DBRS this week slightly downgraded its estimates for Cyprus’ economic growth in 2024 to 2.4 per cent, compared to the 2.5 per cent forecasted in December. However, it significantly ...

The Finance Ministry on Wednesday released a statement welcoming the outcomes of the European Commission’s recent in-depth review, highlighting that they “demonstrate the government’s sound economic policies and ...

The Chartered Financial Analyst (CFA) Society Cyprus recently held an educational interactive day focused on private equity and investment funds. The event involved the presence of members of the association, ...

Cyprus took part in the International Food and Drink Event (IFE) this week, promoting a number of products at the three-day international food and beverage event, that opened its doors ...

Interior Minister Constantinos Ioannou addressed the 18th Real Estate, Land Development, Planning, and Construction Conference on Wednesday, outlining recent developments in the real estate sector, as well as the government’...