Cyprus Business News

The Institute of Certified Public Accountants (Selk) on Thursday submitted a six-part plan to further develop the Cypriot economy and businesses. “Maintaining the strength of our economy does not depend ...

By Yiannis Seitanidis EU sanctions against Russia are having a negative impact on businesses in Cyprus, with closures and redundancies as a consequence, according to the European Sanctions Affecting People ...

Finance Minister Constantinos Petrides told attendees at a SEK trade union conference that Cyprus is entering a new era “where the only certainty is uncertainty”. During his speech, the Finance ...

The Cyprus economy and competitiveness council on Wednesday recommended the establishment of a new deputy ministry for the environment and sustainability. The recommendation for the creation of a new deputy ...

The cabinet of ministers this week approved a bill amending the income tax law so that the existing tax exemption for the amount of investment in an approved small-to-medium innovative ...

The Cyprus Ports Authority (Alk) on Wednesday said that the commercialisation of the Larnaca port has been one of the most important events that took place in the Cyprus maritime ...

Zavos Group chief executive Michalis Zavos this week said that Limassol is experiencing a surging demand in rental properties, with office space being particularly sought after. “The problem lies in ...

Shipping companies are transforming rust buckets into gold mines in a modern-day alchemy that could fuel already rampant inflation for years to come. The disruption to world trade caused by ...

State-owned asset management company Kedipes announced on Monday that it repaid €100 million in state aid during the second quarter of the current year. Following the latest tranche, Kedipes’ state aid ...

RCB Bank on Monday announced that the sale of Tranche B of its performing loan portfolio to Hellenic Bank has been successfully completed. This follows the original statement released on ...

The Cyprus Chamber of Commerce and Industry on Monday announced that the UCLan Cyprus University has signed a Memorandum of Understanding (MoU) with the Cyprus Commercial Representatives Association (CCRA). The ...

Limassol Chamber of Commerce and Industry (Evel) president Andreas Tsouloftas on Thursday expressed optimism about Limassol’s prospects, despite the challenges posed by high inflation and the war in Ukraine. ...

Alphamega Hypermarkets CEO George Theodotou earlier this week told attendees at the Cyprus Grocery Retail conference that the sector is currently facing unprecedented challenges. The executive explained that soaring inflation, ...

Cypriot company Tototheo Maritime, a leading maritime technology integrator and provider, announced on Thursday recently inaugurated its new office in Bremen, Germany. Headquartered in Cyprus, Tototheo Maritime has been offering ...

The Cyprus Fiscal Council recommends particular caution in public finances due to increased risks, which may persist over time, expressing the view that support measures should be focused on small ...

Cyprus ranks 40th in terms of competitiveness, moving down seven places compared to 2021, a report showed on Wednesday. The decline in the ranking is mainly due to a significant deterioration ...

Minister of Energy, Commerce and Industry Natasa Pilides on Wednesday said that Cyprus is in favour of exploiting regional gas reserves in a sensible, effective and legal way. “As we ...

The Cyprus Statistical Service (Cystat) on Wednesday reported that there was an increase in job vacancies during the first quarter of 2022 when compared to the corresponding period of 2021. According to ...

The Cyprus Composite Leading Economic Index (CCLEI) turned negative in May, following annual increases in the previous months, reflecting the uncertainty driven by the war in Ukraine. The CCLI compiled ...

By Yiannis Seitanidis Hellenic Bank CEO Oliver Gatzke said he expected there would be some time between the ECB’s rate hike in July and an increase of lending rates ...

Transport Minister Yiannis Karousos on Tuesday told attendees at the Flight Safety Foundation conference that Cyprus’ first quarter international arrivals almost reached 80 per cent of those in 2019. The conference examined ...

Limassol port management company DP World Limassol on Tuesday said that its aim is to re-establish Cyprus as a key cruise hub in the Eastern Mediterranean. Speaking at the 2nd ...

Cyprus has moved to deepen its business and research ties with Saudi Arabia through the visit of an official delegation to the Kingdom between June 5 and June 8. The delegation involved ...

Economic uncertainty amid the Ukraine war and the European Central Bank rate hikes announcement are pushing Cyprus bond yields upwards in the wider context of sovereign bond sell-off in secondary ...