Cyprus Business News

State-owned asset management company Kedipes announced on Thursday the launch of a new voluntary retirement scheme (VRS) in order to reduce the number of its employees, which the company considers ...

The Cypriot economy continues to grow, showing improvement over the performance of the previous year, but external factors are contributing to a loss of momentum, according to a report by ...

Director-General of the Ministry of Finance George Panteli, who represented Cyprus at the EU Economic and Financial Affairs Council (Ecofin) which ended yesterday in Brussels, said on Wednesday that sanctions ...

By George Pirishis There are new developments regarding the introduction of the minimum wage in the market since the general director of the Federation of Employers and Industrialists (OEB), Michalis ...

Cypriot company Tototheo Maritime, a leading maritime technology integrator and provider, announced on Tuesday that it has been appointed as the official distributor and service partner for marine technology manufacturer ...

International magazine Global Banking & Finance Review on Tuesday named the Bank of Cyprus’ asset management division (BOCAM) as the best asset management company in Cyprus. The award was given ...

By George Pirishis Significant questions arise with regard to the expected impact on the Cypriot economy following the decisions to impose European sanctions on Russia. While the services sector may ...

Hellenic Bank on Tuesday announced that it has negligible direct exposure to Russia, while its indirect exposure through any adverse effects on the Cypriot economy hinges on a number of ...

Baker Tilly South East Europe chief executive officer Marios Klitou on Tuesday will receive the title of National Order for Faithful Service of the Rank of Knight by the Romanian ...

Cyprus’ trade deficit increased in January 2022 by 19.4 per cent, to €518.72 million, compared to €434.34 million in January last year, according to provisional data, published by the Statistical Service of Cyprus. At ...

Cyprus’ GDP could be affected by between 1.5 to 2 per cent during 2022 if Cypriot airspace remains closed to Russia for the entirety of 2022, rating agency DBRS Morningstar said on Monday. The ...

Justice Minister Stefi Drakou on Thursday held a meeting with Institute of Certified Public Accountants (Selk) president Pieris Markou, with their discussion focusing on the implementation of the anti-corruption legal ...

By George Pirishis The EU sanctions against Russia do not exclude the “golden passport” and “golden visa” programmes since a legislative initiative report of the European Parliament calls on the ...

Rating agency Standard & Poor’s on Thursday downgraded RCB Bank’s long-term issuer rating from BB- to B+ and placed the bank on negative watch, citing the lack of ...

The discussion between Hellenic Bank and the Cyprus Union of Bank Employees (Etyk) have broken down, resulting in the bank now seeking mediation from the Department of Labour Relations. “It ...

RCB Bank announced on Tuesday that it has donated €50,000 to the Cyprus Red Cross Society (CRCS) in support of the organisation’s relief and humanitarian efforts on the ground for ...

The need to rethink and further strengthen international supply chains was a key message by stakeholders attending the Supply Chain & Logistics Conference & Exhibition recently held in Nicosia. The ...

Cyprus Chamber of Commerce & Industry (Keve) president Christodoulos Angastiniotis on Monday sent an open letter to Eurochambres president Luc Frieden, protesting the latter’s decision to visit Turkey for ...

By George Pirishis An explosive mix of rising prices is expected in the next period of time in both fuel and electricity as the frenetic course of energy prices continues ...

By Yiannis Seitanidis After tourism, which is clearly experiencing negative effects as a result of the imposition of sanctions against Russia, the services sector is beginning to feel the impact ...

Credit rating agency Standard and Poor’s affirmed Cyprus’ long-term credit rating at BBB-, while maintaining a positive outlook, stressing that despite the Ukrainian crisis and economic sanctions against Russia, ...

The vice president of the European Investment Bank (EIB), Liliana Pavlova, visited the University of Cyprus this week in order to review the activities and funded projects of the EIB ...

KODAP released its 2022 budget in early February. Out of €119million, over €34 million is allocated to the construction of a strategic oil reserve storage at Vasiliko, with another €23million budgeted to ...

By George Pirishis A large number of people based in Russia who work for companies registered in Cyprus have expressed an interest in moving to the island, non-profit organisation TechIsland ...