Cyprus’ parliamentary commerce committee is moving closer to approving a reduction in the turnover threshold that determines whether companies can undergo a simple financial statement review rather than a full audit, settling on €400,000.   This represents a significant narrowing from the €900,000 level originally proposed by Disy.   The matter returned to the committee on Tuesday after the taxation department, the Central Bank of Cyprus (CBC) and the Association of Cyprus Ba

The 16th Pension Forum in Nicosia placed the spotlight on the major challenges confronting Cyprus’ pension system, while also exploring fresh perspectives arising in an environment undergoing rapid transformation, according to the event overview.   The forum, titled ‘Making better decisions – New perspectives for the pension’, took place with the support of Eurobank.   During the discussions, speakers emphasised that the demand for strategic flexibility and specialised expert

Nairobi’s bustling streets are now echoing with more than just the rhythm of daily life; they resonate with the hum of Bitcoin adoption, as “Bankless Bitcoin” ATMs appear in popular shopping centers. These machines represent more than a technological advance—they are a lifeline for many, enabling cash-to-crypto conversion in spaces traditionally dominated by conventional banking. Yet, beneath this surge in accessibility lies a stark reality: regulatory uncertainty threatens t

The Republic of Cyprus registered a double vote of confidence in the resilience of its economy this week, as both Moody’s and Fitch upheld the country’s investment-grade standing—while Fitch went a step further by shifting Cyprus’ outlook to “positive.” In a written statement, Finance Minister Makis Keravnos emphasized that these decisions reflect “the international houses' confidence in the government's fiscal performance and prudent economic policy.” In his official announc

The cryptocurrency market’s dramatic downturn accelerated on Wednesday, with Bitcoin sliding to a seven-month low and pushing total losses across digital assets beyond the $1 trillion mark.   The world’s largest cryptocurrency dropped to $88,522, inflicting fresh pain on investors ranging from retail traders buying the dip to institutional digital asset firms whose valuations have been rapidly eroding.   A modest rebound followed after Nvidia delivered strong earnings, easing

S&P Global Ratings shifted its outlook for the Cypriot economy to “positive” from “stable” late on Friday, pointing to a faster-than-anticipated improvement in the country’s external debt metrics.   The agency confirmed the Republic of Cyprus’ credit score at “A-/A-2” for both long-term and short-term obligations, in domestic and foreign currency.   According to S&P, the upgraded outlook reflects its expectation that Cyprus’ external position will exceed current forecasts ove

Cyprus ranked among the European Union member states where foreign-controlled companies accounted for the smallest share of employment and economic output in 2023, according to data published by Eurostat on Wednesday. Despite the significant overall impact of foreign-controlled enterprises across the EU, their presence in Cyprus remains comparatively limited. Based on figures that include both employees and self-employed individuals, foreign-controlled enterprises in Cyprus r

The Bank of Cyprus announced on Tuesday that it achieved a profit after tax of €353 million for the nine months ended September 30, 2025, maintaining stable profitability and reinforcing shareholder confidence amid continued economic resilience. “We are pleased to announce another set of strong financial results, generating in the first nine months of 2025 a profit after tax of €353m,” said Bank of Cyprus CEO Panicos Nicolaou. “This performance reflects the resilience of our

The National Bank of Greece (NBG) has announced that, following meetings of its Board of Directors held on September 18 and October 22, 2025, it will distribute an interim dividend to shareholders for the 2025 financial year, underscoring the bank’s robust profitability and commitment to enhanced shareholder returns. A total gross amount of €200 million will be distributed in cash, equivalent to €0.2186 per share. This figure will be adjusted to include shares held by the ban

The Cyprus Stock Exchange (CSE) has announced its intention to proceed with the delisting of European Medium-Term Notes (EMTN) after the securities reached maturity and were fully repaid. The decision, according to the CSE, follows an official request made by the Ministry of Finance. The notes in question are the European Medium-Term Notes with an expiry date in 2025, carrying an interest rate of 4.25 per cent and identified by the code EMTN1125. The exchange confirmed that t

In a landmark reform of its corporate tax framework, the Maltese government officially enacted the Final Income Tax Without Imputation Regulations on September 2, 2025, introducing a 15% elective final tax on company profits. The move marks one of the most significant overhauls of Malta’s business taxation system in recent years, offering what the government describes as a simpler and more transparent alternative to the long-standing imputation and refund model. From 35% to a

President Donald Trump hailed his meeting with Chinese President Xi Jinping in South Korea as a major breakthrough, announcing that he would cut tariffs on China while Beijing had agreed to resume exports of rare earth elements and purchase American soybeans. Speaking to reporters aboard Air Force One, Trump said the U.S. would lower tariffs imposed earlier this year as a penalty for China’s sale of chemicals used to produce fentanyl—from 20% to 10%. The move effectively redu

Bank of America (BofA) Securities reaffirmed its optimistic stance on the Greek banking sector this week, highlighting that the industry is currently undergoing a transitional period as markets focus on the trough for net interest income and the emergence of a new merger and acquisition (M&A) cycle. Despite projections of a 19 per cent quarterly decline in net profits for the third quarter, BofA emphasized that investors are likely to concentrate on the medium-term outlook an

Gold markets have entered a turbulent phase, attempting to rebound after suffering one of their steepest declines in a decade. Analysts maintain that the long-term outlook for the precious metal remains positive—driven by ongoing central bank purchases and persistent global uncertainty—but warn that investors should remain cautious in the near term, as prices could continue to fluctuate before finding stability. October 21 has already been dubbed “Black Tuesday” for gold, whi

Greece is rapidly emerging as one of the world’s most desirable destinations for the wealthy, placing itself firmly within the top 10 choices for high-net-worth individuals amid what economists are calling the “Great Millionaire Migration.” Each year, thousands of affluent individuals relocate across borders, bringing with them not only immense personal fortunes but also business operations, family offices, and cultural influence. Experts describe this global trend as a trans

Government debt as a percentage of gross domestic product (GDP) increased across both the euro area and the wider European Union (EU) at the close of the second quarter of 2025, according to a report released by Eurostat on Tuesday. The statistical office highlighted, however, that Cyprus recorded one of the most notable decreases over the year. For the 20-nation euro area (EA20), the general government gross debt to GDP ratio reached 88.2 per cent at the end of Q2 2025, risi

Autonomous Research has issued a more cautious outlook on Greek bank stocks, warning that much of the sector’s optimism has already been reflected in current valuations. The independent research and analysis firm noted that, while fundamentals remain strong, the rally that lifted the country’s banking sector through 2024 and 2025 appears to be entering a mature phase. Following a recent field visit to Athens, the firm concluded that “the Greek banking story has entered a phas

Significant changes have emerged in the latest update of the Henley Passport Index for 2025, which evaluates 199 passports based on International Air Transport Association (IATA) data, ranking them according to the number of destinations accessible without a visa. According to the most recent figures, the United States passport, once a dominant force in global mobility and a fixture among the top ranks for two decades, has now fallen to 12th place. Meanwhile, the Greek passpo

China’s economic growth decelerated in the three months leading up to the end of September, as trade tensions with the United States once again flared up. Official figures released on Monday show that the world’s second-largest economy expanded by 4.8% compared to the same period in 2024 — marking its weakest pace in a year. The slowdown comes in the wake of Beijing’s decision to impose sweeping controls on its exports of rare earths, minerals critical to global electronics p

Cyprus and the United Arab Emirates have reaffirmed their shared commitment to deepening bilateral economic relations and advancing investment cooperation during a high-level meeting in Dubai on Wednesday. The discussions took place between Cyprus’ Minister of Energy, George Papanastasiou, and the UAE Minister of Economy, Abdulla bin Touq Al Marri, underscoring both nations’ intent to strengthen ties across trade, energy, and innovation. According to the Cyprus Ministry of En