Cyprus Business News

The Democratic Labour Federation of Cyprus (Deok) on Monday called the government’s measures to curtail soaring inflation disappointing and inadequate. “Unfortunately, the long-awaited government measures to deal with the ...

Cryptocurrencies are a potential risk to consumers and the economy due to their high volatility, Cyprus Central Bank (CBC) senior director of banking operations division Christos Phanopoulos said on Sunday. ...

Finance Minister Constantinos Petrides on Thursday evening said that Cyprus should maximise its comparative advantages in order to turn the investment funds sector into a means of attracting investments from ...

There was a net increase in both total deposits and total loans in April, when compared to March, according to a report published on Friday by the Central Bank of ...

Cyprus Cyber Security Competition winners also confirmed The first-ever Cypriot edition of the European Coding Challenge was successfully completed in Nicosia earlier this month. The event was jointly organised by ...

The Nicosia Tourism Board (Etap Nicosia) announced on Thursday the successful completion of the Facilitating Accessibility in Support of Tourism (FAST) programme, which took place on May 18-19, 2022. The event ...

Economic sentiment in Cyprus experienced a slight improvement in May, according to a business and consumer survey report by the University of Cyprus released on Thursday. The Economic Sentiment Indicator (...

Employers and Industrialists Federation (Oev) president Antonis Antoniou on Wednesday said that it is the organisation’s duty to highlight possible pitfalls and sound the alarm bell where it sees ...

Cyprus-licensed bank AstroBank on Wednesday announced that it recorded an after-tax profit of €3.3 million in 2021, a notable improvement on the €18 million loss it sustained in 2020. Moreover, the bank recorded a ...

Hellenic Bank on Wednesday described the decision by the bank employees’ union Etyk to stage a 24-hour warning strike on May 31 as “sad and disappointing”. The Etyk executive council announced ...

Cyprus Airways on Wednesday announced that Paul Sies has been appointed to the position of chief executive officer, with Sies officially assuming the role on May 20. “Mr Sies has extensive ...

Universities and other educational institutions in Paphos, which have been increasing in number over the past few years, provide a valuable contribution to the development of the district, non-profit organisation ...

Cyprus Chamber of Commerce (Keve) vice president Andreas Demetriades on Tuesday called on the government and political parties to unite in order to best deal with the challenges posed by ...

A European Commission official on Monday urged the Cypriot authorities to proceed with the implementation of Cyprus’ National Recovery and Resilience plan, warning that Cyprus risks losing EU funds in ...

The number of investment institutions increased from 257 in December 2021 to 273 in March 2022, according to a report on Monday published by the Central Bank of Cyprus (CBC). Moreover, for the same ...

Lebanese banks are planning to close their branches in Cyprus, following a decision by the Lebanon Central Bank, according to a report by the Cyprus News Agency (CNA) released on ...

Cyprus continues to experience excessive macroeconomic imbalances, the European Commission said on Monday during the presentation of its 2022 European Semester Spring Package. “Overall, vulnerabilities are receding and are falling below ...

The Bank of Cyprus plans to reduce the number of its branches by 25 per cent and workforce by 15 per cent this year. In numbers, this means 500 jobs will go and ...

The Cyprus Shipping Chamber (CSC) on Friday announced that it welcomes the positions adopted by the Environment Committee (ENVI) of the European Parliament regarding the revision of the EU Emissions ...

The Bank of Cyprus on Thursday announced that it recorded a profit after tax of €21 million during the first quarter of 2022, €13 million higher than the corresponding period of 2021. Moreover, it ...

The Price Index of Construction Materials reached a historically high level in April 2022, with the prices of construction materials rising by 24.54 per cent year-on-year, according to a report by the ...

Deputy Minister for Research, Innovation and Digital Policy Kyriacos Kokkinos on Tuesday afternoon engaged with the local fintech community, during an event on digital assets, entrepreneurship and financial technology. The ...

The Cabinet of Ministers on Wednesday announced the approval of a 20 per cent tax cut for research and development projects. The tax cut is part of the broader strategy of ...

The growth rate of the Cypriot economy in the first quarter of 2022 remained positive, estimated to have risen by 5.8 per cent when compared to the corresponding quarter of 2021, according to ...