Here are the top business stories in Cyprus from the week starting March 24: The Cyprus Borrowers Association (Syprodat) released a statement on Monday saying that despite recent interest rate cuts by the European Central Bank (ECB), many borrowers have not noticed a decrease in their monthly loan repayments. According to the association, this can […]

The importance of contract management in Public-Private Partnerships (PPPs) was highlighted by Edward Farquharson, Senior Adviser of the European Investment Bank (EIB), emphasising that the success of such collaborations depends largely on the quality of the contract and its proper implementation. Farquharson, speaking on the second day the international summit ‘Unlocking Investment Through PPP ‘, […]

The proposed Mall of Limassol is poised to create a premier destination for shopping, dining and entertainment in Limassol. As the project advances through important planning and approval phases, we spoke to Polys Tsiartziazis, onsite Development Manager for the proposed Mall of Limassol, about the latest milestones and the exciting potential this development holds for […]

Deputy Tourism Minister Kostas Koumis used his participation in a professional symposium to highlight Larnaca’s appeal as a tourist destination. The minister outlined Larnaca’s recent progress in terms growing its tourism sector, while the city’s bid to be selected as the European Capital of Culture 2030 was also discussed. The event, focused on tourism management […]

The independent expert commissioned to evaluate Eurobank’s public offer for the remaining shares of Hellenic Bank has deemed the proposed exchange of €4.843 per share as fair and reasonable. This assessment, based on the independent valuation report, concludes that “the proposed consideration to be paid by the offeror to the shareholders of the company in […]

The Eurobank Group on Thursday released a statement reaffirming its “commitment to further expansion and its continued confidence in the Cypriot economy”. It should be noted that the group’s management is currently in Cyprus for a board of directors meeting. In this context, the management of Hellenic Bank, a member of the Eurobank Group, hosted […]

The Bank of Cyprus on Thursday announced its final financial results for 2024, confirming profits of €508 million, as previously indicated in its preliminary results. In its announcement, the bank underlined its strong capital position and its ability to generate returns for shareholders. According to the final results, net interest income for the year ending […]

A panel discussion at the Unlocking Investment Through PPP International Summit, taking place in Nicosia, looked at how public-private partnerships (PPPs) can contribute to attracting foreign investments and in turn economic growth, with experts tackling the entire spectrum, from financing to how artificial intelligence (AI) can make PPPs more efficient. The panel, entitled “Why is […]

Halloumi exports continued their upward trend in 2024, confirming the product’s momentum and its importance in Cypriot trade. At the same time, recent decisions have contributed to safeguarding the exports of one of Cyprus’ most important exports. It is recalled that, as recently reported by the Minister of Agriculture, Rural Development and Environment, Maria Panayiotou, […]

Scheme aims to boost local business ecosystem The migration department on Wednesday announced the start of applications for residence permits under the Cyprus Digital Nomad Visa scheme. According to the announcement, the scheme “aims to attract nationals from non-European Union (EU) and non-European Economic Area (EEA) countries, allowing them to reside in Cyprus”. This is conditional on the premise that their […]

Economy to outperform EU average Credit rating agency Morningstar DBRS on Wednesday revised its economic growth and unemployment projections for Cyprus, reflecting a more optimistic outlook for the country’s economy. In its report, the agency updated its macroeconomic forecasts for several sovereign nations, including Cyprus. It increased its 2025 GDP growth estimate for Cyprus by 0.3 percentage points compared […]

Cypriot businesses have significantly progressed with the integration of digital technologies into how they operate, according to the Cyprus Statistical Service (Cystat). This was evident in Cystat’s latest report detailing the results of its 2024 survey on the use of information and communication technologies (ICT) and e-commerce in businesses. The findings reveal that a substantial 84.1 per cent […]

For the first time a Cypriot has been elected to the position of Vice Chair of the International Maritime Organisation, the deputy ministry of shipping announced on Wednesday. In a press release the ministry said the election of its Legal Affairs Director Lydia Markari-Kyriacou to the post had been unanimous by IMO member states during […]

Consulting and advisory firm PwC Cyprus on Wednesday released a statement detailing the various initiatives implemented by its foundation to “strengthen financial literacy and foster an entrepreneurial mindset among young people”. Specifically, to mark Global Money Week 2025, which took place from March 17 to 23, the non-profit PwC Foundation coordinated the ‘Financial Literacy’ educational programme for the third consecutive year. The initiative was […]

The upgrade of Cyprus’ economy by Morningstar DBRS rating agency constitutes a vote of confidence in the government’s responsible fiscal policy, President of the Republic, Nikos Christodoulides, said on Saturday, expressing his satisfaction. Speaking to the press, President Christodoulides stated that the upgrade of the economy by yet another rating agency is, among other things, a vote […]