Cyprus Business News

Cyprus’ general government recorded a surplus of €867.5 million during the third quarter of 2024, according to preliminary data released on Friday by the state’s statistical service. This figure remains close ...

The Central Bank of Cyprus (CBC) on Friday said that it is assessing the capital needs of banks in light of escalating macroeconomic and geopolitical risks. Speaking during a briefing ...

Tourist arrivals in Limassol are rising, offsetting the loss of the Russian market, according to Anthi Theocharous, VP of Tourism at the Limassol Chamber of Commerce (Evel). “Limassol absorbed a ...

Cyta on Friday announced that it will adopt digital identity verification through the government’s Digital Citizen application This new service will start on December 23, 2024, with Cyta saying that this ...

Hoteliers in Kato Pyrgos Tilliria raised key concerns over staffing, connectivity, and beach upgrades during a meeting with Deputy Minister of Tourism Costas Koumis on Thursday. According to a statement, ...

The Cabinet has approved a new De Minimis Grant Scheme to support Cypriot businesses in participating in international trade fairs, following a proposal by Energy Minister George Papanastasiou. The scheme, ...

The Central Bank of Cyprus (CBC) has revised its GDP growth forecast for 2024 upwards by 0.2 percentage points, now expecting growth of 3.7 per cent. The revision is attributed to stronger domestic ...

The Central Bank of Cyprus (CBC) on Friday announced the launch of a comprehensive licensing and supervisory strategy aimed at enhancing oversight and governance of electronic money institutions and payment ...

Cyprus’ adoption of the 15 per cent minimum tax for multinationals entails both challenges and opportunities, according to Stelios Violaris, Tax Advisory Services Partner at PwC Cyprus. Violaris also highlighted the ...

The workforce in Cyprus’ broader public sector totalled 73,137 employees in the third quarter of 2024, according to a report released this week by the Cyprus Statistical Service (Cystat). For the first ...

Invest Cyprus on Thursday announced that it has being re-elected to the board of the ANIMA Investment Network. Invest Cyprus CEO Marios Tannousis, stated that “our re-election to the ANIMA ...

Invest Cyprus on Thursday announced that it has being re-elected to the board of the ANIMA Investment Network. Launched in 2006 within the framework of the Barcelona Process-Euromed partnership, ANIMA has ...

State-owned asset management company Kedipes has repaid €1.47 billion in state aid since the start of its operations in September 2018, according to an announcement released on Thursday. This includes €310 million repaid ...

The Cabinet this week approved measures to expand labour market access for students and attract skilled professionals from abroad. These initiatives aim to address growing employment demands and boost economic ...

Bernhard Schulte Shipmanagement (BSM), a third-party ship manager headquartered in Limassol, on Thursday announced that CEO Ian Beveridge will step down on January 1, 2025. According to the announcement, Sebastian von Hardenberg, ...

EmissionLink, a Columbia Group company, is simplifying emissions management with advanced solutions to meet the upcoming FuelEU Maritime regulations, effective from January 2025. According to a statement by the company, these ...

The Construction Material Price Index in Cyprus reached 117.26 points in November 2024, with 2021 acting as the base year set at 100 points. This reflects a slight monthly increase of 0.07 per cent, the ...

The Harmonised Consumer Price Index (HCPI) in Cyprus increased by 2.2 per cent in November 2024, compared to the same month in 2023, according to the state’s statistical service. However, on a ...

The Cabinet on Wednesday approved a revised start-up visa, according to Deputy Minister of Research, Innovation, and Digital Policy Nicodemos Damianou. Damianou said that the revisions aim to make the ...

The Cabinet on Wednesday approved a revised start-up visa, according to Deputy Minister of Research, Innovation, and Digital Policy Nicodemos Damianou. Damianou said that the revisions aim to make the ...

Online broker Deriv this week announced the expansion of the company’s Cyprus-based operations to Nicosia. Deriv, which opened its first Cyprus office in Limassol four years ago, said that ...

Half of Cyprus’ hotels are open this festive season, offering special programmes for Christmas and New Year, according to Thanos Michaelides, president of the Cyprus Hoteliers Association (Pasyxe). Speaking to ...

The Cyprus Shipping Chamber (CSC) announced that its director general Thomas Kazakos, has been appointed secretary general of the International Chamber of Shipping (ICS). This makes Kazakos the first Cypriot ...

The Paralimni-Deryneia Municipality has joined forces with the Cyprus Sustainable Tourism Initiative (CSTI) to promote sustainable practices in the tourism sector. According to an announcement released this week, this partnership ...