Cyprus Business News

International credit rating agency Standard and Poor’s Global Ratings has upgraded the prospects of the Cypriot economy from stable to positive, citing the ongoing macroeconomic stabilisation. At the same ...

Net new loans in Cyprus showed a modest recovery in July 2023, reaching €300.5 million compared to €240 million in the previous month. For the period from January to July, net new loans ...

Washington has weighed into a dispute between Cyprus and international companies led by Chevron over how to develop a giant offshore gas field, backing the US company’s plan to ...

The Paphos Regional Tourism Board (Etap) this week reported that it expects increased flight activity during the winter season of 2023-2024. In an official statement, Etap executive director Nasos Hadjigeorgiou ...

Cyprus’ industrial producer prices saw a 3 per cent decline in July 2023 compared to the same month in 2022, according to data provided by the Cyprus Statistical Service. However, the year-to-date figures ...

Cyprus’ national Fiscal Council this week called for immediate planning to gradually address the government’s debt to the Social Security Fund, amidst ongoing surplus reports in the general government ...

Cyprus experienced a decrease in acceptance deposit rates (for new placements) within its banking system during the month of July, despite consecutive increases in the European Central Bank’s (ECB) ...

The Cypriot economy experienced a notable deceleration in its growth rate during the second quarter of 2023, with GDP growth slowing to 2.1 per cent compared to the same period in 2022. This ...

By Andrey Afanasiev Embedded finance changes the way people interact with financial services. Nowadays, financial companies are the points of contact for financial services customers. For example, when we purchase ...

The local real estate market has also seen a surge in property sales in Larnaca The Cyprus Real Estate Registration Council this week has unveiled a comprehensive analysis of the ...

The Cyprus Borrower Protection Association (Syprodat) on Thursday said that the “serious and vigorous efforts” made by the Minister of Finance to provide relief to borrowers have been warmly welcomed ...

The City of Dreams Mediterranean casino resort is playing host to its inaugural major conference, as the three-day “M&I Europe Summer 2023” forum kicked off in Limassol earlier this ...

Wargaming, a prominent player in the gaming industry, has announced its decision to sell its remaining stake in Hellenic Bank to Eurobank. The deal, valued at €65.9 million, encompasses Wargaming’s 6.8 ...

The Cyprus Tourist Enterprises Association (Stek) on Wednesday issued a warning about the unchecked operation of short-term rentals and the escalating influx of tourists into the occupied areas, highlighting “asymmetric ...

The proposed measures by the government aimed at reducing non-performing loans (NPLs) will not effectively contribute to their reduction, the Association for the Protection of Bank Borrowers (Syprodat) said in ...

The Cyprus Chamber of Commerce and Industry (Keve), a member of the Enterprise Europe Network Cyprus, on Wednesday extended an invitation to an exclusive seminar designed to equip Cypriot companies ...

The spokesperson of the Association of Cyprus Banks Andreas Costouris on Wednesday stated that the association does not agree with how Finance Minister Makis Keravnos is presenting the situation surrounding ...

Hellenic Bank announced on Wednesday that it posted a profit of €160.2 million during the first half of 2023, a result that underscores the resilience of its business model amidst a challenging ...

The Cyprus Research & Innovation Foundation (Idek) on Tuesday announced a groundbreaking opportunity for the Cypriot startup, innovation and research ecosystem, allowing successful applicants to engage in international collaborations. According ...

The Cyprus fuel sector experienced a notable 9.7 per cent increase in total sales during July 2023 in comparison to the same period in 2022, according to a report released this week. This ...

After experiencing a notable increase over the past two months, both deposits and loans in the Cypriot banking system witnessed a decline in July 2023. According to data released this week ...

The Cyprus Association of Tourism Enterprises (Stek) and the Crete regional authority joined forces on Tuesday in an effort to enhance and diversify their tourism product while extending the tourist ...

National flag carrier Cyprus Airways on Monday announced a remarkable 70 per cent surge in passenger numbers in July, transporting a total of 77,656 passengers, compared to 45,578 passengers during the same month ...

International credit rating agency Fitch recently released a piece of analysis on the acquisition of Hellenic Bank by Greek lender Eurobank, with the agency noting that the completion of all ...