Cyprus Business News

Cyprus’ real estate market kicked off the new year with a 21 per cent increase in property sales, compared to the same month last year, primarily driven by Limassol’s record-breaking ...

Lending criteria for businesses and households in Cyprus remained unchanged during the third quarter of 2024, when compared to the previous quarter, according to the bank lending survey published by the ...

Cyprus betting revenues rose 13 per cent year-on-year during the third quarter of 2024, according to the National Betting Authority. The authority on Wednesday reported that total betting revenues from Class A (...

Lending criteria for businesses and households in Cyprus remained unchanged during the third quarter of 2024, when compared to the previous quarter, according to the bank lending survey published by the ...

The Bank of Cyprus on Wednesday announced the launch of a new rewards initiative for mortgage borrowers who have remained up-to-date with their repayment schedules. The programme is part of ...

The Cyprus Property Developers Association has called on banks to revise their lending policies, stressing the need for alignment with European standards. The issue was raised during a meeting earlier ...

Eurobank Cyprus has renewed its cooperation agreement with Cyprus Seeds, a non-profit organisation focused on the commercialisation of innovative academic research. This is the sixth consecutive year of Eurobank supporting ...

Energy Minister George Papanastasiou is at the forefront of government initiatives designed to strengthen support for small and medium-sized enterprises (SMEs). These initiatives primarily focus on enhancing their access to ...

The European Community Shipowners’ Associations (ECSA) have endorsed the European Commission’s new Competitiveness Compass, viewing it as a fundamental initiative for enhancing competitiveness and fostering open trade. The EU’...

Household deposit and lending rates in Cyprus continued to rise in December, according to a report released this week by the Central Bank of Cyprus (CBC). The interest rate for ...

New business and household loans in Cyprus reached a record high of €3.9 billion in 2024, up from €3.3 billion in 2023, according to the Central Bank of Cyprus (CBC). This total represents the ...

Exploration activities in three offshore blocks inside Cyprus’ exclusive economic zone (EEZ) have come to an end after the licenses expired without renewal, the government said on Tuesday. Licenses to ...

Deputy Minister of Innovation Nicodemos Damianou met Greek Minister of Digital Governance Dimitris Papastergiou at the inaugural Cyber Intelligence Summit in Athens on Tuesday. According to an official announcement, the ...

EVH Investments Limited on Tuesday announced the mandatory public takeover offer for Salamis Tours was completed on January 31. The offer, initially submitted on November 12, 2024, aimed to acquire up to 100 per ...

Despite Cyprus’ relatively modest trade volume with the US, the island could still experience indirect effects of US tariffs on European goods, warned Sofronis Clerides, professor of economics and dean ...

Both apartment prices and rental costs in Cyprus increased during the fourth quarter of 2024, rising by 1.3 per cent and 1.5 per cent year-on-year, respectively, according to real estate analytics firm Ask ...

Hellenic Bank on Tuesday announced a further reduction in the reference rate for all loans linked to the European Central Bank’s (ECB) base rate. Specifically, the interest rate has ...

Cypriot banks are expected to prioritise new lending in 2025 and beyond, as they seek to offset the impact of lower interest rates and capitalise on a historically low loan-to-deposit ratio. ...

Deputy Shipping Minister Marina Hadjimanolis strengthened Cyprus’ maritime ties with Oman by signing two crucial Memoranda of Understanding (MoUs) this week in Muscat. These agreements focus on maritime cooperation and ...

Bank cards remain the most widely used payment method in Cyprus by total transaction volume, according to the Central Bank of Cyprus’ (CBC) latest payment statistics report. The report, which ...

The retail trade turnover index in Cyprus increased by 5.8 per cent in December 2024 compared to the same month in the previous year, according to data released by the Cyprus Statistical ...

Interest rates on deposits and loans in Cyprus and Greece vary significantly, with Cypriot banks generally offering lower deposit rates than their Greek counterparts, In addition, according to a report ...

The government on Monday announced the launch of a fast-track process for the issuance of building licences for certain types of residential units, saying the step would also go some ...

The protection of borrowers hinges not only on legal compliance but also on the social responsibility of banks and credit acquisition companies (CACs), according to Costas Melas, president of the ...