15 h. ago Oil slides on Trump tariff threats and OPEC+ supply expectations

Oil prices dropped by 1 per cent on Friday and were set for their first weekly decline in three weeks as US President Donald Trump recommended a 50 per cent tariff on the European Union and expectations rose that OPEC+ will increase crude output further in July. Brent crude futures fell 64 cents, or 1 […]

Politics

24 h. 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

40 h. ago Oil prices fall more than 1 per cent on potential further increase to OPEC+ output

Oil prices dropped by more than 1 per cent on Thursday after a report that OPEC+ is discussing a production increase for July, stoking concerns that global supply could exceed demand growth. Brent futures lost $1.08, or 1.7 per cent, to $63.83 a barrel by 1134 GMT. US West Texas Intermediate crude was down $1.02, […]

Politics

7 d. ago US smartphone shipments rose 30 per cent in March due to tariff concerns, report says

Smartphone shipments to the US surged 30 per cent in March as manufacturers Apple (AAPL.O), Samsung (005930.KS) and Motorola rushed to bring more devices into the country in anticipation of steep import tariffs, Counterpoint Research said this week. Apple alone airlifted a record $2 billion worth of iPhones from India in March, leveraging Indian suppliers […]

Politics

2 w. ago Tatar says European parliament’s Turkey report is a ‘biased document’

The report on Turkey approved by the European parliament on Wednesday is a “biased document” which “ignores the will of the Turkish Cypriot people”, Turkish Cypriot leader Ersin Tatar said. He said the report and other European Union documents concerning Turkey are “disconnected from reality and prepared with political motives”. “The EU, in clear violation […]

Politics

2 w. ago Cyprus Business Now: Property, Shipping, Oev, Salaries, Jumbo, Selk

Real estate sales in Cyprus rose by 12 per cent in the first four months of 2025 compared with the same period last year. In addition, figures for the month of April showed a slight nationwide increase despite small drops in Larnaca and Paphos. According to data from the Department of Land and Surveys, 1,404 property transactions were recorded across the […]

Economics

2 w. ago Cyprus property sales rise 12 per cent in first four months of 2025

Real estate sales in Cyprus rose by 12 per cent in the first four months of 2025 compared with the same period last year. In addition, figures for the month of April showed a slight nationwide increase despite small drops in Larnaca and Paphos. According to data from the Department of Land and Surveys, 1,404 […]

Politics

2 w. ago Cyprus passenger traffic surpasses 1 million in April, marking record high

Cyprus recorded over 1.15 million passengers at its two airports in April 2025, crossing the one million threshold for the first time in a single month, the Transport Ministry said on Tuesday. Traffic at Larnaca and Paphos airports rose by 20.66 per cent compared to the same month last year. Additionally, total passenger numbers for […]

Politics

2 w. ago Audi keeps outlook after Q1 sales rise, but tariff impact not included

Volkswagen’s premium brand Audi on Monday kept its full-year guidance, with the caveat that any impact from US tariffs was not included, after its first-quarter revenue rose 12.4 per cent on higher sales of electric models. Quarterly revenue rose to 15.43 billion euros ($17.49 billion) in January-March, compared with 13.73 billion a year earlier, it […]

Politics

3 w. ago Cyprus Business Now: monthly wages, banking updates, MoU signing, payment trends

The average gross monthly earnings of employees in Cyprus rose by 5.3 per cent in 2024, reaching €2,487, according to provisional data released on Wednesday by the state statistical service. In terms of the fourth quarter of 2024 specifically, gross monthly earnings stood at €2,813, up from €2,680 in the same quarter of the previous […]

Economics

3 w. ago Samsung says trade turmoil raises chip business volatilities, may hit phone demand

South Korean technology giant Samsung Electronics (005930.KS) warned on Wednesday US tariffs could cut demand for products such as smartphones, making it difficult to predict future performance. Samsung said it expected its semiconductor business to encounter greater uncertainties throughout the year, while its smartphone shipments faced downward pressure in the second quarter. The cautious outlook […]

Events

3 w. ago Cyprus average monthly earnings rise to €2,487 — 4 in 10 earn below €1,500

The average gross monthly earnings of employees in Cyprus rose by 5.3 per cent in 2024, reaching €2,487, according to provisional data released on Wednesday by the state statistical service. In terms of the fourth quarter of 2024 specifically, gross monthly earnings stood at €2,813, up from €2,680 in the same quarter of the previous […]

Politics

3 w. ago Bank loans in Cyprus surge by €429.9m in March — deposits fall by €66.3m

Banks in Cyprus recorded a net decrease of €66.3 million in deposits and a significant increase of €429.9 million in loans during March 2025, according to a report by the Central Bank of Cyprus (CBC). The CBC also reported that the annual rate of credit expansion rose to 3.1 per cent. Total deposits showed a […]

Politics

3 w. ago Cyprus tourism revenue soars in February, driven by higher per capita spending

Tourism revenues in Cyprus reached €79.7 million in February 2025, marking an increase of 22.4 per cent compared with the same month last year (€65.1 million), according to an announcement issued by the statistical service this Tuesday. Moreover, for the first two months of the year, revenues rose by 35 per cent, with total earnings […]

Politics

4 w. ago Cyprus construction material prices tick up in first quarter

Cyprus’ Construction Materials Price Index rose by 1.09 per cent year-on-year during the first quarter of 2025, according to data released on Thursday by the Cyprus Statistical Service (Cystat). The index reached 118.81 units in March, with 2021 as the base year set at 100 points, reflecting a monthly increase of 0.2 per cent compared […]

Politics