Cyprus Business News

Cyprus-flagged ships violate US sanctions at their own risk, as this country is not legally obliged to enforce those of the US. This is in reply to a Lloyds List ...

British-based banking app Revolut’s latest $33 billion valuation, achieved after a fresh funding round, has likely made its cofounder and Chief Executive Nik Storonsky a billionaire several times over. Russia-born ...

A decree by the Cypriot government dictating that all businesses give their employees additional annual leave for vaccinations increases costs for businesses, but many are willing to accept these expenses ...

Cyprus’ path to recovery “must and will” be aligned to sustainable development goals` Finance Minister Constantinos Petrides has said. Speaking at the virtual UN High-Level Political Forum to present Cyprus’ ...

The head of the Financial Reporting Council, the UK regulator overseeing financial reporting, told the Financial Times that it had botched the handling of a series of business scandals that ...

German car manufacturer Volkswagen and Chinese company Gotion High-tech have concluded a strategic cooperation agreement on the construction of a battery cell factory at Volkswagen Group Components’ site in Salzgitter, ...

“Today, the Cyprus Securities and Exchange Commission (CySEC) oversees 790 entities and 9 trillion transactions by Cyprus Investment Firms, placing it among the first markets in Europe in 2020,” noted CySEC Chairwoman Demetra ...

Turkey’s central bank kept interest rates unchanged for the fourth month in a row on Wednesday, as a weak lira and increasing inflation are expected to delay planned rate ...

The European Commission on Monday issued a further €10 billion to support Europe’s recovery from the coronavirus crisis and its consequences, the Commission said in a statement. It is the ...

Universal Hydrogen, a US firm that aims to do for clean fuel what Nespresso did for coffee, is poised to announce preliminary hydrogen deals with airlines including Icelandair, Airbus, and ...

According to this year’s recently released Xinhua-Baltic International Shipping Center Development Index Report, Singapore, London and Shanghai are the top three global shipping hubs in 2021, followed by Hong Kong, ...

As recently as 2019, a solid six per cent of Cypriots between the ages of 16 and 74 took part in an online learning programme. This percentage put Cyprus on par with such ...

The European Commission (EC) plans to impose a carbon surcharge on products entering the EU from third countries, through a Carbon Border Adjustment Mechanism (CBAM), likely to be phased in ...

There were scenes of “total chaos” this morning at Heathrow airport check-in due to huge numbers of staff being forced to self-isolate, the Independent reported on Monday. Passengers complained of ...

Oil slumped on Monday over concerns about spreading Covid-19 variants derailing the global economic recovery that has brought fuel demand to near pre-pandemic levels, while tight crude supplies kept prices ...

The cost of food has reached a crisis level in Turkey, as production declines and the weak Turkish lira (currently at 10.30 to the euro) makes imports more expensive. The central ...

The spread of the Covid-19 Delta variant threatens Europe’s nascent economic rebound, economists told the Financial Times on Sunday. The European Centre for Disease Prevention and Control said on ...

The European Commission is likely to delay putting forward its plans for a digital levy until the autumn to try to improve the chances of a global corporate tax reform ...

Malta will ban all visitors from entering the country as from Wednesday unless they are fully vaccinated against Covid-19, Health Minister Chris Fearne said on Friday. “We will be the ...

The European Union has delivered enough coronavirus vaccine doses to member states to reach a target to fully vaccinate at least 70 per cent of adults in the bloc, European Commission ...

Finance ministers of the world’s 20 largest economies (G20) on Saturday agreed to go ahead with the plan to design a global tax system that would impose a minimum levy ...

As a great many of us here in Cyprus either are already fully vaccinated, or are close to getting both jabs, the possibility of European travel, armed with our EU ...

Foreign workers in Cyprus tend to be more highly educated than the average number across the European Union, a report has indicated. According to data from the European Union’s ...

The Cyprus government is already at work to find a solution for the country on the OECD minimum corporate tax proposal that has been agreed to by the G7 and ...