Cyprus Business News

By Charles Ellinas Judging from the latest statements by the Energy Minister, George Papanastasiou, the negotiations with the Chinese-led consortium CPP-METRON Consortium Ltd (CMC) have probably been exhausted, with no ...

Hellenic Bank’s board of directors on Friday issued a statement regarding the public offer made by Greece’s Eurobank to acquire the entirety of its share capital, deeming the ...

The European Central Bank (ECB) on Friday reported that the value of Cypriot bonds held under its Eurosystem portfolio decreased to €6.46 billion. This reduction primarily stems from bond maturities through ...

Greek airline Aegean on Friday announced that it carried 4.4 million passengers during the second quarter of 2024, recording an 8 per cent increase in passenger traffic. Furthermore, it reached a total of 7.3 ...

The added value of Cyprus’ construction sector at current prices increased by 8.9 per cent in 2022, reaching €1.44 billion, up from €1.32 billion in 2021, according to the findings of the Construction and Land ...

Hellenic Bank’s board of directors on Friday issued a statement regarding the public offer made by Greece’s Eurobank to acquire the entirety of its share capital, deeming the ...

The Cyprus Investment Funds Association (CIFA) on Friday expressed satisfaction with the increase in Assets Under Management (AUM) of Cypriot investment funds. According to the latest data released this week ...

Tourism revenue in recent years, despite its high levels, has decreased compared to previous decades when adjusted for inflation, according to the Association of Cyprus Tourist Enterprises (Stek). During a ...

Cypriot lender AstroBank announced on Thursday the opening of its new branch in Dali, Nicosia, marking the 15th location in its expanding network. In its announcement, the bank noted that ...

Low-cost airline Wizz Air celebrated a significant milestone this week, marking the transportation of 8 million passengers to and from Larnaca Airport since the company commenced operations in Cyprus. “This achievement ...

Cyprus experienced growth across all sectors of economic activity in 2022, with the services sector overall showing a positive trajectory compared to 2021, according to the results of the services and transport ...

Government employment in Cyprus recorded a 4.8 per cent increase in the first half of this year compared to the same period in 2023, according to a report released this week by ...

Rating agency Morningstar DBRS has indicated it will closely monitor developments surrounding Eurobank’s acquisition of Hellenic Bank, predicting a generally neutral impact on the bank’s credit fundamentals with ...

The tourism sector in Cyprus faces a significant downturn this year, with an estimated 30,000 fewer visitors and a loss of approximately €25 million, according to the president of the hotelier’s ...

The tourism sector in Cyprus faces a significant downturn this year, with an estimated 30,000 fewer visitors and a loss of approximately €25 million, according to the president of the hotelier’s ...

The Cyprus association of hospitality venues (Pasika) on Thursday called on newly elected mayors and municipal councils to be vigilant and stringent in granting permits for public events, stressing that ...

The Research and Innovation Foundation (RIF) this week commented on the latest results from the European Innovation Scoreboard 2024, which once again reaffirms Cyprus’ progress in the field of innovation, classifying ...

The Deputy Ministry of Research, Innovation and Digital Policy on Thursday said that Cyprus has made robust strides in the digital sector, something which is backed by the European Commission’...

Moody’s Ratings announced on Thursday that it has upgraded the Bank of Cyprus’ long-term deposit ratings to Baa1 from Baa3, changing the outlook to stable from positive. According to ...

The trade deficit in Cyprus for the period of January to May 2024 stood at €3.12 billion, reflecting a decrease of 16.5 per cent compared to €3.73 billion during the same period in 2023, according ...

Cypriot lender Hellenic Bank has signed an agreement to acquire insurance provider CNP Cyprus, according to an announcement made by the bank on Wednesday. The announcement stated that the consultation ...

European Commissioner for International Partnerships Jutta Urpilainen discussed the philosophy underpinning the European Union’s strategy for international development, known as the Global Gateway, during an interview with the Cyprus ...

The Cyprus Securities and Exchange Commission (CySEC) on Wednesday released its quarterly bulletin, revealing that the number of Management Companies and Undertakings of Collective Investments (UCIs) under its supervision remained ...

The environmental authority has recently approved the construction and operation of a substantial residential development within plot B of the Limassol Greens golf resort. This project, part of a larger €500 ...