Cyprus Business News

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. ...

Oesterreichischer Lloyd Shipping Group announced the appointment of Sunil Kapoor as its newest Partner and Chief Operating Officer. Kapoor, with over 40 years in the maritime industry, will lead business development ...

Freight costs have increased dramatically as a result of the Houthi attacks on ships in the Red Sea, with some ships now going round the Cape of Good Hope to ...

The Cyprus Organisation for Standardisation (CYS) and the Great Britain-Cyprus Business Association (GBCY) have announced a strategic partnership to strengthen business connections and opportunities between companies in the UK and ...

Volkswagen’s voice assistant integrating ChatGPT into its cars will be able to converse with users in a back-and-forth dialogue by the middle of the year, the carmaker said on ...

Activist investors are expected to launch more and bolder campaigns for change among European companies in the year ahead, advisers told Reuters, after a record number in 2023. Europe was for ...

Netflix (NFLX.O) has defeated a lawsuit filed by shareholders in a federal court in California that accused the streaming entertainment company of hiding the extent to which account-sharing was ...

Samsung Electronics Co Ltd reported a likely 35 per cent drop in fourth-quarter operating profit on Tuesday, much worse than analysts expected as weak consumer demand persisted in many of its ...

According to a report released by the Cyprus Statistical Service (Cystat), in November 2023, Cyprus witnessed a notable 1.6 per cent increase in retail trade volume compared to October. This positive trend ...

In December, the Cyprus Statistical Service (CSE) reported an inflation rate of 1.6 per cent, slightly below Eurostat’s harmonised consumer price index, which recorded 1.9 per cent. This positions Cyprus with ...

In the third quarter of 2023, Cyprus experienced a notable increase in its current account deficit, reaching €517 million, compared to €399 million in the same period last year, according to preliminary data ...

Here are the top business stories in Cyprus from the week starting January 1: Mortgage-to-rent scheme a favourable arrangement, Hellenic Bank released on Tuesday a statement welcoming the recent launch of ...

The latest figures published by the Cyprus Statistical Service (CSE) on Friday, January 5, indicate a notable surge in tourism profits, witnessing an 8.3 per cent increase in October 2023, reaching €346.5 million. This ...

Minister of Finance Makis Keravnos, has confirmed that employees in both the public and private sectors, entitled to the Cost of Living Allowance (CoLA) will receive a 2.44 per cent wage ...

Cyprus’ registered unemployment figures witnessed an eight-month low in December 2023, according to seasonally adjusted data by the Cyprus Statistical Service (Cystat). According to the report, the number of registered unemployed ...

The Cyprus Investment Funds Association (CIFA) this week released a statement expressing an optimistic outlook for 2024, anticipating another favourable year for the investment funds sector in Cyprus, despite any challenges ...

Hermes Airports, which manages and operates Cyprus’ two international airports, on Thursday announced that it recorded a surge in passenger traffic during 2023, tallying over 11.6 million passengers by the end of ...

The cabinet on Thursday announced the new board of directors at the Natural Gas Public Corporation (Defa), the state-run entity with the exclusive rights to import and distribute natural gas ...

Director General of the Cyprus Shipping Chamber Thomas Kazakos said that there is an urgent need to address the Houthi attacks against ships sailing through the Red Sea, stressing that ...

In a proactive move aimed at fortifying the resilience of financial institutions against evolving cyber threats, the European Central Bank (ECB) has unveiled plans for a comprehensive stress test involving 109 ...