19 h. ago Cyprus Business Now: BoC rates, hoteliers association, employment, Vassiliko

The Bank of Cyprus on Friday announced a fresh reduction in its reference interest rate for loans linked to the European Central Bank’s (ECB) base rate, in direct response to the ECB’s latest monetary easing. The bank will lower its rate from 2.40 per cent to 2.15 per cent, with the change taking effect from […]

Politics

45 h. ago Cyprus Business Now: finance ministry, real estate, tourism, inflation

The Finance Ministry on Thursday expressed satisfaction with the findings of the European Commission included in the 2025 Spring Package for Cyprus. In a statement, the ministry said that the report “clearly confirms the steady progress, resilience, and dynamism of the Cypriot economy“. Moreover, the ministry underlined that these findings are particularly noteworthy given the current […]

Economics

69 h. ago Cyprus Business Now: property market, Jumbo, RIF, tourism, European Commission

Cyprus is no longer considered a country with macroeconomic imbalances, according to the European Commission’s 2025 Spring Package under the European Semester. This decision follows a sustained reduction in vulnerabilities related to external and private debt, supported by strong economic growth. At the same time, the European Commission has issued targeted policy recommendations to guide […]

Society

3 d. ago Lidl Cyprus named ‘Retailer of the Year’ for second year running

Lidl Cyprus has been named Retailer of the Year for the second consecutive year at the Boussias Cyprus Retail and Sales Awards 2024, which recognise businesses, practices and achievements that are paving the way for retail activity in Cyprus. This distinction comes in a particularly important year, as Lidl Cyprus celebrates 15 years of dynamic […]

Politics

3 d. ago Cyprus Business Now: Deloitte, CSE, Keve, Mall of Cyprus, Cyprus Airways

Deloitte Cyprus on Tuesday announced the appointment of two new partners, effective from June 1, 2025, marking an expansion of its leadership team. According to the announcement, Nicholas Theofilou has been promoted to Partner in the Strategy & Transactions team at Deloitte Limited, while Maria Michaelides has been appointed as Partner at Deloitte Actuarial Services […]

Politics

4 d. ago payabl. adds virtual business cards to its fintech product suite

Leading European financial technology provider payabl. on Tuesday announced the launch of its Virtual Business Cards service. According to the announcement, the new service enables real-time card issuance, customisable limits, and transparent transaction monitoring. Furthermore, businesses can instantly generate cards, assign them to team members, set spending caps, and freeze or unfreeze them when needed, […]

Economics

4 d. ago Cyprus |Business Now: BoC, CIFA, Cyta, retail, startups’ new programmes

Cyta secured four gold and one bronze award at the Cyprus Technology Awards 2024, earning recognition for projects that enhance digital accessibility, sustainability, and user experience across the country. The gold awards acknowledged key initiatives including the full population coverage of Cyta’s 5G network, the modernisation of its mobile network infrastructure, the launch of the […]

Politics

5 d. ago Pentakomo port project ‘would have irreversible environmental impact’

The construction of a new port in the Limassol district village of Pentakomo would have “immediate and irreversible environmental impacts”, ornithological charity BirdLife Cyprus’ campaign coordinator Tasos Shialis said on Monday. He spoke to business news website Stockwatch ahead of the next court hearing of the charity’s legal challenge against its construction, which is due […]

Politics

7 d. ago Cyprus Business Now: Daleela ferry, industrial index, fiscal surplus

The Daleela ferry resumes its Cyprus-Greece connection on Saturday, departing from Limassol for Piraeus in the first of 22 scheduled crossings this summer. Now in its fourth consecutive season, the passenger and vehicle ferry remains the only maritime link between the two countries, and demand appears to be holding firm. The 2025 service was jointly […]

Politics

8 d. ago Cyprus Business Now: properties, investors, financial literacy, unemployment

Cyprus recorded €43.8 million in high-value property transactions in April 2025, marking a 52.8 per cent drop compared to March, according to real estate analytics firm Ask Wire. Based on Land Registry data published this week, the ten most expensive transactions nationwide totalled €18.4m. The highest-value deal was the €3.3m sale of a plot in […]

Economics

9 d. ago Why local SEO should be part of every business plan in Cyprus

Effective local SEO has never been more critical to search visibility and should be a major consideration in every business plan. This is particularly the case for Cyprus, where businesses operate in a small but dynamic market. If you have a café in Nicosia, a law firm in Limassol, or a rental car business in […]

Politics

1 week ago Businessman testifies against Aykut in property usurpation case

Greek Cypriot businessman Savvas Kakos testified as a prosecution witness in the ongoing trial of Turkish-Israeli property developer Simon Mistriel Aykut at the Nicosia Criminal Court on Wednesday. Aykut, who claims nationality in Turkey, Israel, and the ‘TRNC’, is being tried for the alleged usurpation and sale of €43 million worth of Greek Cypriot property […]

Politics

1 week ago Cyprus Business Now: pharmaceutical factory, film production in Limassol, tourism

The 1st Annual General Meeting (AGM) of C.M.C.L. – Cyprus Marine Club Limited –in Limassol, marking its shift to a company limited by guarantee and electing a new board for 2025–2026. According to the statement, the meeting, which was held on May 23, opened with the confirmation of a quorum at 71.2 per cent. The […]

Culture

1 week ago Cyprus Business Now: Business Support Centre, inflation, short

Cyprus inaugurated its new Business Support Centre (BSC) on Monday, marking what the government described as a turning point in efforts to cut red tape, attract investment and support entrepreneurship. Located in Nicosia, the centre will act as a one-stop-shop for both Cypriot and foreign investors seeking to launch or expand operations on the island. […]

Economics

1 week ago Keve backs new Business Support Center, calls for strong execution to win investor trust

The Cyprus Chamber of Commerce and Industry (Keve) has welcomed the launch of the new Business Support Center, describing it as a long-standing demand finally addressed, and a much-needed tool to reduce red tape, support investment and restore confidence in Cyprus as a business destination. In a statement posted on X, social media platform, the […]

Economics

1 week ago Business Service Centre, promising faster licensing and less red tape

Cyprus will inaugurate its new Business Service Centre (BSC) on May 26, a move the government says will mark a turning point in its efforts to reduce bureaucracy and attract new investment. The announcement was made by President Nikos Christodoulides during the general assembly of the federation of employers and industrialists (Oev), where he unveiled […]

Politics

1 week ago Business Support Centre, promising faster licensing and less red tape

Cyprus inaugurated its new Business Support Centre (BSC) on Monday, marking what the government described as a turning point in efforts to cut red tape, attract investment and support entrepreneurship. Located in Nicosia, the centre will act as a one-stop-shop for both Cypriot and foreign investors seeking to launch or expand operations on the island. […]

Politics

2 w. ago Cyprus Business Now: Hellenic Bank, BoC buyback, Ermes, Cyta acquisition, hotels

The Cyprus Stock Exchange (CSE) on Friday ratified the suspension of trading in the shares of Hellenic Bank Public Company Ltd, following a recent meeting of the CSE Council. The ratification was made under Article 184 of the Cyprus Stock Exchange Law and formalises the suspension decision first announced on May 9, 2025. The suspension […]

Economics

2 w. ago Cyprus Business Now: wages, maritime, CSE, BoC, compliance, real estate

Average monthly earnings in Cyprus rose by 5 per cent in the fourth quarter of 2024 compared to the same period in 2023, according to preliminary data released by the Cyprus Statistical Service (Cystat). When compared to the previous quarter, and after adjusting for seasonal fluctuations, average monthly earnings increased by 1.2 per cent in the fourth […]

Politics

2 w. ago Cyprus Business Now: housing, Keve, Deloitte, Freedom Holding, inflation

A significant decline of 24 per cent was recorded in the number of building permits issued in Cyprus in January 2025, when compared to the same month in 2024, according to data released by the Statistical Service. The total area covered by these permits also saw a decrease, although the total value of the permits […]

Economics