Cyprus Business News

The vice-president of the Cyprus Chamber of Commerce and Industry (Keve), Andreas Demetriades, this week highlighted the concerning issue of soaring rental costs, which, in many cases, exceed the means ...

Construction Price Index The Construction Price Index in Cyprus experienced a deceleration for the third consecutive quarter in April, indicating a slight alleviation of inflationary pressures within the sector. The ...

The Central Bank of Cyprus (CBC) on Wednesday reported a decrease in non-performing loans (NPLs) at the end of February 2023. NPLs decreased by approximately €60 million compared to the previous month, ...

The Ministry of Finance this week stated that while the Cypriot economy is facing a period of increased uncertainty, its growth rate remains relatively high compared to other EU countries, ...

As Cyprus braces for an almost inevitable new wave of sanctions to hit soon, the government conceded on Wednesday the effect on Cyprus’ services sector has been detrimental. The impact ...

The Cyprus Statistical Service (Cystat) on Wednesday reported a notable deceleration in harmonised inflation for the month of April. According to the report, the Harmonised Index of Consumer Prices (HICP) ...

Robust growth in tourist arrivals in Cyprus reaffirms post-pandemic recovery Tourist arrivals in Cyprus experienced an increase of 18.5 per cent in April 2023, compared to the same period last year, according ...

The Minister of Finance Makis Keravnos participated in the work of the Economic and Financial Affairs Council (ECOFIN), which ended on Tuesday afternoon in Brussels. According to an announcement by ...

The Cypriot economy maintained its strong momentum in the first quarter of 2023, with the GDP showing a growth rate of 3.4 per cent on an annual basis. However, there are signs ...

The Bank of Cyprus has prepared a proposal aimed at reducing lending rates, which has been submitted to the Central Bank of Cyprus, according to the group’s CEO Panicos ...

Banks need to take immediate measures to address climate change, said the Governor of the Central Bank of Cyprus (CBC) Constantinos Herodotou, during a conference on climate change held on ...

The Bank of Cyprus on Tuesday announced that it generated a €95 million after-tax profit for the first quarter of 2023, a significant improvement over the corresponding period of 2022, when it recorded ...

The financial markets are playing a critical role in the transition towards a more sustainable and socially responsible future, primarily due to the issuance of sustainability bonds and green bonds, ...

PwC Cyprus, a strategic partner of Junior Achievement, on Monday released a statement about its pivotal role in the successful execution of the “Company Programme” and “Our Community” initiatives. The ...

There was a 12.7 per cent decrease in the issuance of new building permits in Cyprus during the first two months of 2023, according to data released by the Cyprus Statistical Service (...

Eurobank Cyprus on Monday announced a reduction of 0.50 per cent in mortgage interest rates with variable interest rates for borrowers who are up-to-date with their loan repayments. The bank stated ...

Below are the top business stories from Cyprus from the week starting May 8: The Deputy Minister of Shipping, Marina Hadjimanoli, emphasised the importance of competitiveness, resilience, and anticipation of new ...

The Bank of Cyprus on Friday announced that it is now offering a 25-year fixed interest rate for its mortgage customers. According to the statement, this new option aims to ...

The first quarter of 2023 brought with it a sharp increase in Cyprus’ trade deficit, with imports rising significantly compared to the same period in 2022, according to a report released this ...

The Deputy Minister of Shipping, Marina Hadjimanoli, emphasised the importance of competitiveness, resilience, and anticipation of new trends and challenges in the shipping industry. Hadjimanoli’s comments were made during ...

The Cyprus Chamber of Commerce and Industry (Keve) and the Turkish Cypriot Chamber of Commerce (Ktto) support all efforts aimed at the bilateral improvement of Green Line trade. Both chambers ...

National flag carrier Cyprus Airways on Friday announced a significant increase in its passenger volume for April 2023, providing further evidence of the travel industry’s ongoing recovery from the dire ...

In times of crisis, identifying and taking advantage of opportunities is crucial for economic growth, the president of the Cyprus Investment Funds Association (CIFA), Andreas Yiasemides, said on Thursday. Yiasemides ...

The governor of the Central Bank of Cyprus, Constantinos Herodotou, expressed optimism that with appropriate actions, prudence, and rationality, the country’s economy and banking system can successfully manage the ...