Cyprus Business News

Building permits in Cyprus saw a sharp decline in July 2024, with only 97 permits authorised, it emerged on Wednesday. This marks a stark contrast to the 604 permits issued in July 2023, according ...

The Cyprus Chamber of Commerce and Industry (Keve) has appointed Emilios Michael and Andreas Andreou as its new deputy secretary generals. Emilios Michael, who previously served as director of labour ...

Spain’s decision to impose steep taxes on non-EU property investors using platforms like Airbnb has sparked debate over whether countries like Cyprus and Greece will benefit from the shift ...

The Cyprus federation of employers and industrialists (Oev) has announced the opening of applications for the 18th Cyprus Innovation Award Competition. “This longstanding event celebrates the ingenuity and creativity that ...

The Research and Innovation Foundation (RIF) has initiated a consultation for a new €10 million funding programme. The new programme, titled ‘STEP: Setting up facilities and production lines for manufacturing new ...

The Central Bank of Cyprus (CBC) has reported that the total post-tax profits of Cypriot banks reached €952.5 million for the first nine months of 2024, compared to €602.92 million at the end ...

The Central Bank of Cyprus (CBC) has announced an increase in the countercyclical capital buffer (CCyB) requirement for licenced credit institutions from 1 per cent to 1.5 per cent. The change, aimed ...

State-owned asset management company Kedipes this week provided updates on the implementation of the mortgage-to-rent scheme, revealing that approximately 25 rental agreements have been signed. In addition, the company said that ...

The Construction Production Index in Cyprus reached 110.92 points in the third quarter of 2024, with 2021 acting as the base year set at 100 points. This marks a 6.5 per cent increase compared to ...

The total value of non-performing exposures (NPEs) in Cyprus dropped to €1.6 billion by the end of September 2024, down from €1.7 billion in June. This decrease brought the NPE ratio to 6.5 per ...

Andreas Demetriades, chairman of the Association of Large Investment Projects, emphasised the critical role of foreign investment in Cyprus’ development sector during the 2025 forecast presentation this week. He stated that ...

The total value of non-performing exposures (NPEs) in Cyprus dropped to €1.6 billion by the end of September 2024, down from €1.7 billion in June. This decrease brought the NPE ratio to 6.5 per ...

Global investment fund CarVal Investors has reduced its shareholding in the Bank of Cyprus to 5.9 per cent, according to an announcement made by the bank on the Cyprus Stock Exchange (...

The Cyprus Consumer Association this week urged individuals with consumer loans issued since July 1997 to take action against potential abusive terms in their agreements. It advised loan holders to file ...

The first official session of the advisory committee for strengthening the competitiveness and quality of the Cyprus flag was held in Athens this week, attended by Deputy Minister of Shipping ...

Invest Cyprus issued a statement on Monday underscoring the significance of five strategic Memoranda of Understanding (MoUs) signed on January 8 at the Egyptian presidential palace in Cairo. These agreements were ...

Invest Cyprus issued a statement on Monday underscoring the significance of five strategic Memoranda of Understanding (MoUs) signed on January 8 at the Egyptian presidential palace in Cairo. These agreements were ...

The number of government employees in Cyprus has experienced an increase over recent years, according to a report released on Monday by the state’s statistical service. Specifically, the total ...

The number of short-term rental properties has seen significant growth across Cyprus, according to data shared with the House of Representatives by the Deputy Ministry of Tourism. Deputy Tourism Minister ...

Hellenic Bank on Monday announced the launch of a new mortgage product offering fixed interest rates. This has been rolled out alongside a new rewards programme that the bank described ...

Kyndryl, the world’s largest IT infrastructure services provider and actively present in Cyprus, this week announced the launch of The Kyndryl Institute. According to the announcement, the institute aims ...

Vehicle registrations in Cyprus rose by 9.1 per cent in 2024, reaching 49,616 compared to 45,494 in 2023, according to the state’s statistical service. Electric vehicles accounted for 4.0 per cent of registrations, up from 2.7 ...

The need for enhanced collaboration between public authorities and private enterprises was emphasised during the recently held ‘Beyond Sea & Sun’ conference. The event, organised by Hermes Airports with the ...

Two leading airlines, Wizz Air and Emirates, are offering employment opportunities in Cyprus, with open recruitment events scheduled this January for cabin crew positions. Wizz Air announced its Cabin Crew ...