Cyprus Business News

Minister of Finance Constantinos Petrides met with the vice president of the European Investment Bank (EIB) Liliana Pavlova on Friday, discussing the current state of the economy, as well as ...

Rising fuel costs, electricity, fruit and vegetables have caused inflation to go up by 6.6 per cent in February, according to data published on Thursday by the Cyprus Statistical Service (Cystat). ...

Unemployment fell to 6.3 per cent of the workforce in the fourth quarter of 2021, compared to 8 per cent in the corresponding quarter of 2020. According to a labour force survey conducted by ...

By George Pirishis In an effort to contain costs from the rising fuel prices, the government has decided to temporarily reduce the excise tax on petrol and diesel by 7 cents ...

The interest rate on deposits from households with an agreed maturity of up to one year remained unchanged at 0.06 per cent, compared to December 2021, according to Cyprus Central Bank. At ...

The vice president of the European Investment Bank (EIB), Liliana Pavlova, who oversees financing operations for Cyprus, among other countries, will pay an official visit to the island on March 3, 2022, ...

The economic sanctions imposed against Russia following its invasion of Ukraine are not affecting Cyprus to a large extent as the island’s banking system has no exposure to Russia, ...

Cyprus-based financial technology company SquaredFinancial announced on Tuesday that it will be the first organisation to utilise iQbyQi, an advanced retail trading analytics tool. “SquaredFinancial, the fintech brokerage headquartered in ...

The services sector turnover index increased in 2021, compared to 2020, with particularly strong growth being observed in accommodation and catering services, according to data released this week by the Cyprus Statistical ...

By Marilena Evangelou & Yiannis Seitanidis The imposition of severe economic sanctions in Russia has made the daily life of those Cypriots who are in the country for work or ...

Cyprus’ cash reserves exceed the financing needs for 2022, the Public Debt Management Office said on Monday. In its February bulletin, the office explained that general government debt at the end ...

Cyprus’ government deficit fell to €409.1 million or 1.8 per cent of GDP in 2021 in 2021, primarily due to the impressive 16 per cent increase in revenues, according to a preliminary report released by ...

Non-performing loans (NPLs) remained virtually unchanged in November, reaching € 4.24 billion from € 4.26 billion the previous month, according to a report by the Central Bank of Cyprus released on Friday. In contrast, ...

Targeted actions are being taken to promote Cyprus in the United Arab Emirates, including an event held in collaboration with the Abu Dhabi Chamber of Commerce & Industry, national promotion ...

This project has been continuously in the limelight during the last few weeks, but, worryingly, for the wrong reasons. Following many questions about the lack of progress, significant schedule slippage ...

By Yiannis Seitanidis The threat of severe economic sanctions was not enough to prevent Russia’s invasion of Ukraine. But the package of massive and severe sanctions is the EU’...

Cypriot financial technology company WiRE, which specialises in the property market, generating analysis, business insights and data reports, announced on Wednesday the successful completion of its seed funding round. The ...

Port management company DP World on Wednesday hosted Cypriot officials at its flagship terminal Jebel Ali Port in Dubai. Attending the site were Transport Minister Yiannis Karousos and Shipping Deputy ...

In February 2022, economic sentiment in Cyprus improved as the Economic Sentiment Indicator (ESI-CypERC) increased by 3.5 points compared with January 2022. According to a press release of the Economic Research Centre of ...

Russian state-owned VTB Bank (PJSC) has transferred all its shares in RCB Bank to Cypriot shareholders, making RCB a 100 per cent Cypriot-owned bank. VTB transferred to the Cypriot shareholders the 46.29 ...

The achievement a year early of the target to bring the NPL ratio down to single digits, combined with the return to profitability, allows the Bank of Cyprus to move ...

By Yiannis Seitanidis The life insurance sector maintains its momentum and the overall premium generation rate remained in double digits in 2021. According to the latest data from the Association of ...

Real estate agents being granted access to property price data is beneficial to property buyers, Council for Registration of Real Estate Agents president Marinos Kineyirou said on Wednesday. This refers ...

Cyprus’ booth at the Dubai Expo 2020 utilises a hologram of the goddess Aphrodite to greet guests, while special sensors filled the space with scents from the island, including jasmine and ...