Cy & Gr News

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

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

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

Strengthening player safety through an effective fight against the illegal gambling market and building public trust were emphasized as key priorities by the President of the National Betting Authority (NBA), Panagiotis Trisokkas, who represented the Authority at the SiGMA Central Europe Summit held in Rome from November 4 to 6. The SiGMA Central Europe Summit, one of the leading international gatherings in the gaming sector, brought together thousands of professionals, regul

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