Cyprus Business News

By Andreas Charalambous and Omiros Pissarides Following the prolonged period of subdued inflation, discussions are currently focusing on the evolution of prices, given their serious effects on citizens’ everyday lives ...

By George M. Georgiou According to Eurostat’s data browser, Cyprus’ real per capita GDP in 2020 was €23.050, which is about 87 per cent of the EU-27 average. One could be forgiven ...

Aspiring unicorn ventures, meaning startup companies reaching a valuation of $1 billion, took centre stage on the second day of the Reflect Festival in Limassol. The startup event was a Cyprus ...

Bank of Cyprus’ Director of Compliance Division Marios Skandalis said that the coronavirus pandemic has given businesses an opportunity to reshape their long-term strategies to ensure their viability. “A business ...

The government on Friday presented its new strategy for attracting businesses to Cyprus with emphasis, among others, on high technology, shipping, innovation, and research and development, in a bid to ...

Deputy Minister of Shipping Vasilis Demetriades stressed the importance of digital technology for the maritime sector during his speech at the CSN Cyprus Shipping ICT Conference in Limassol on Thursday. “...

The Apollonion Private Hospital in Nicosia has officially been acquired by the American investment fund CVC Capital Partners. The signing of the contract and the completion of the acquisition was ...

Finance Minister Constantinos Petrides voiced concern on Thursday over the risk to the economy from rising prices but said that inflation is currently viewed as transient. Speaking to reporters on ...

More than 70 local and international movers and shakers of the tech world will share their stories as part of a packed events programme for ‘Doers United’ 2021 Reflect Festival, which is ...

Venus Minerals and Hellenic Copper Mines have agreed on a partnership for the creation of a copper mine in Apliki, a village in the Nicosia district. In an announcement released ...

Transport Minister Yiannis Karousos stressed that adequate air connectivity for all, especially for which air travel is particularly crucial, must be secured. Karousos spoke at a high-level conference on the ...

Cash collections of the Cyprus Asset Management Company (KEDIPES) reached €95.2 million in the second quarter of 2021 with total cumulative cash collections since KEDIPES establishment in September 2018 exceeding €1 billion. Assets under ...

Over the past few years, there have been concerted efforts to grow Cyprus’ technology sector, with Deputy Minister Kyriacos Kokkinos recently announcing that additional incentives will soon come into force. ...

Cypriot consumers will be paying the domestic rate of VAT when purchasing goods online following the implementation of six pieces of legislation by the House Finance Committee. This means that ...

Cyprus’ connection to the sea is fundamental for both the nation and its economy, Deputy Minister of Shipping Vasilis Demetriades said on Tuesday presenting the government’s long-term shipping strategy. “...

The International Monetary Fund revised upwards the growth rate of the Cypriot economy, compared to its forecasts for last April. According to the World Economic Outlook (WEO) published on Tuesday, ...

Cypriot expat John Christodoulou is currently in the process of becoming the majority shareholder at Omonia Nicosia, according to a report by Cypriot outlet INBusiness News. Reports about Christodoulou’s ...

The Cyprus Investment Funds Association (CIFA), supported by Invest Cyprus, organised and ran an online workshop explaining the intricacies of the EU Recovery and Resilience plan for Cyprus. A number ...

The Ministry of Energy, Commerce and Industry has announced that it has received 652 applications from pre-existing and newly formed manufacturing small-to-medium enterprises (SMEs) who wish to improve their competitiveness. The ...

The future of the Cyprus technology industry was one of the primary subjects of discussion at the Cyprus IT Forum taking place in Limassol on Friday, with a number of ...

The state budget for 2022 was handed over to parliament on Thursday, with the drastic reduction of the deficit being the key takeaway. More details about the budget have emerged since ...

Industrial Turnover showed a significant increase of more than 10 per cent in July 2021, but also in the first seven months of the year, a development that is mainly due to ...

The House plenum on Thursday gave the nod to an extra €92 million in government spending until the end of the year, over and above the approved budget for fiscal 2021, the ...

The rate of inflation in Cyprus remained high in September – registering at 4.1 per cent – though lower than the 5 per cent of the previous month, according to the Statistical Service. Energy ...