Cyprus’ economy shrunk by €1.28 bln in 2020, as its key sectors, tourism, commerce and construction, suffered during the pandemic and lockdown measures to stop COVID-19 spreading. According to data from the
Cyprus hopes to attract direct investment after tweaking a Double Taxation Avoidance treaty with Germany, making it harder for foreign firms to set up shell companies on the island. Last week Cyprus
Cypriot start-up EMBIO Diagnostics is among five winners of the first online Start-up Innovation Challenge by the European Bank for Reconstruction and Development (EBRD) to encourage creative and innovative responses to COVID-19. Some 226 companies from 30 countries
Bank of Cyprus saw its losses triple last year to €175 mln. Its chief executive is confident 2021 will be better, focusing on reducing costs and liabilities while increasing retail loans and
In February, Cyprus’ economic sentiment marginally slipped with the Economic Sentiment Indicator (ESI-CypERC) decreasing by 0.1 point from the month before due to weaker business confidence in services. The index now stands
By Mariana Antonescu The COVID-19 pandemic has fundamentally changed the way we live, work, and do business. Companies of all sizes are facing financial hardships and an uncertain future. No longer is
Shuttered for almost a year, nightclub owners are pressuring the government to let them open by 16 March to recoup lost earnings due to coronavirus measures. Nightclub owners have proposed strict health
Cyprus could be slammed with hefty fines from EU institutions for failing to adopt regulations and directives to reduce risks to the banking system or the need to resort to state intervention.
If Cyprus wants to persuade big tech companies to relocate in the wake of the discredited passport scheme, it needs to invest in skilled labour to cater to these firms’ needs. Stakeholders
The government extended its interest rate subsidy scheme for housing and corporate loans until the end of 2021 and raised the ceiling for eligible loans, Finance Minister Constantinos Petrides said Friday. He
