Cyprus Business News

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 ...

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 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 ...

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 ...

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 ...

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 ...

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’ 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 ...

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 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 ...

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 ...

Microsoft (MSFT.O) said on Thursday its European Union cloud customers would be able to process and store all personal data in the region as part of a phased roll-out ...

Netflix’s (NFLX.O) ad-supported tier has reached more than 23 million global active users per month, the Variety magazine reported on Wednesday, quoting the streaming giant’s advertising chief Amy ...

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 ...

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 ...

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 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, ...

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 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 ...

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 ...

Euro zone services activity could weaken further in the coming quarters due to rising interest rates but the impact on the sector may be more muted than on manufacturing, a ...

Will they, won’t they? U.S. regulators are keeping crypto players on the edge of their seats as they weigh whether to give their blessing to bitcoin exchange-traded funds (...

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 ...

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. ...