CoLA to cost €1.2 bln over three years

The deal between social partners to renew the Cost-of-Living Allowance agreement to cover 66.7% of inflation, up from 50%, means the state will pay an additional €1 bln in salaries over three

Major law, audit firms fear sanctions smear

Top lawyers and accounting firms fear being placed on the US and UK sanctions lists as they have clients whom are Russian oligarchs sanctioned following Russia’s invasion of Ukraine. Quoted by Politis

S&P eyes Bank of Cyprus upgrade

S&P Global Ratings (S&P) revised the outlook for the Bank of Cyprus to positive from stable, citing the easing of funding risks, a diversified business model and substantial progress in de-risking its

Employers boss demands “no new taxes”

The Cyprus Federation of Employers and Industrialists have re-elected Antonis Antoniou as their chairman while urging the government to hold back any new taxes, including corporate tax. The business community fears that

Businesses unhappy with e-basket

Businesses say implementing a new digital platform for monitoring retail product prices, known as the e-basket, constitutes state intervention in the free market. The Council of Ministers gave a bill the green

Doing business with Germany

The Cyprus Germany Business Association (CGBA) is hosting an event on “Doing Business with Germany” at the Cyprus Chamber of Commerce and Industry in Nicosia on Thursday. The event will include brief

Cyprus Airways March passengers spike six-fold

Cyprus Airways announced its March passenger results, carrying 25,899 passengers, a 558% increase from the previous year. Compared to March 2019, before the pandemic, the airline carried 19% more passengers (Mar’19: 21,676).

Service industry counts ‘war wounds’

Sanctions imposed by the US and UK on Cypriot alleged ‘fixers’ has the services sector fearing their efforts to clear the island’s name from the golden passports scandal are in vain. Cyprus’