Cyprus Business News

Tourist arrivals reached 391,638 in October 2021, reflecting an increase of 288.6 per cent year-on-year, according to data released by the Cyprus Statistical Service (Cystat) on Friday. Tourist arrivals in October of the ...

Rating Agency Standard and Poor’s revised Bank of Cyprus’, the country’s largest lender outlook to positive from stable, following a new NPL transaction titled “Helix 3” which would reduce ...

Inflation in Cyprus reached 4.4 per cent during October of this year, according to the European statistical service (Eurostat). Cyprus’ inflation figure is slightly above the European Union average of 4.1 per ...

Cyprus’ economy is recovering at a swifter rate than previously thought, with real GDP on track to reach pre-pandemic levels by the fourth quarter of this year, credit ratings agency ...

By Nicos Panteli Supervisory authorities constantly remind banks that they need to drastically cut costs Without a doubt the Covid-19 pandemic has left its mark on all aspects of public ...

The Cypriot IT services market exceeded €100 million in total value this decade, reaching €113.16 million in value during the previous year, a rise of 12.8 per cent since 2018, according to a report ...

The Cyprus Ministry of Finance said on Wednesday the economy’s performance during the third quarter of 2021 reaffirm the resilience of the economy and bode well for the final quarter ...

Cyprus Deputy Minister for Tourism Savvas Perdios said that the current level of tourist arrivals has been deemed satisfactory. Tourist arrivals between January and October of this year amount to 45 ...

The digitisation of banking services is ‘not an option, but an urgent need’, the Hellenic Bank CEO Oliver Gatzke said on Monday at The Economist’s annual Cyprus Summit in ...

The cabinet has decided to increase the government subsidy for the ferry connection between Cyprus and Greece by €500,000 due to the rise in fuel prices. The increase brings the total ...

The Bank of Cyprus announced on Monday that it had successfully completed the sale of a non-performing loans (NPLs) portfolio with a gross book value of €577 million, bringing its NPL ...

The Cyprus Employers and Industries Federation (OEB) has released the results of a study revealing the true labour needs of Cypriot businesses. The study takes into account data collected between ...

The recovery of the Cypriot economy remains on an upward trajectory, with most indicators boding well for future growth, according to a report by the University of Cyprus Economic Research ...

My Mall Limassol, Cyprus’ third-largest shopping centre, will see Israeli involvement in its ownership structure, with 46 per cent of its shares due to be sold to two Israeli companies. This ...

The European Commission’s Autumn 2021 Economic Forecast which was presented on Thursday shows positive prospects for Cyprus, including an increase in GDP by 5.4 per cent for 2021 as a whole, while ...

The Cyprus University of Technology (Tepak) has signed an agreement for the opening of a satellite school in Paphos. Specifically, the university will run a tourism, hospitality and entrepreneurship school ...

The LNG import terminal project would be transformational for Cyprus said Symeon Kassianides, the chairman of the Natural Gas Public Company (DEFA), said on Thursday at the Eastern Mediterranean Energy ...

A Nicosia restaurant announced it will be accepting payments with cryptocurrencies, the first such business to introduce this, it said on Thursday. Think 30, located on Stasikratous Street in Nicosia, citing ...

Cyprus must move quickly to implement the projects necessary to meet the objectives mandated by the EU’s Green Deal and simultaneously lower electricity prices, Energy Minister Natasa Pilides said ...

Cyprus’ trade deficit recorded an annual increase of €715.1 million during the first nine months of 2021 according to the Cyprus Statistical Service (Cystat). Based on Cystat’s report, the trade deficit ...

Businesses in Cyprus are more reserved about their prospects for the coming year than their European counterparts, according to research published on Tuesday by the Cyprus Chamber of Commerce and ...

Hellenic Bank reiterated its support towards businesses operating in the energy industry, with particular emphasis given to organisations involved with the production of renewable energy. “Last year, we supported Renewable ...

Kyndryl, a managed infrastructure services company, completed its separation from American technology giant IBM on November 3, beginning trading on the New York Stock Exchange the day after. “We are thrilled ...

The Cyprus Union of Bank Employees (ETYK) has renewed its collective agreement with card payments and processing company JCC until 2022. The trade union explained that since the Bank of Cyprus ...