https://knews.kathimerini.com.cy/en/business/goodbye-iban-cyprus-prepares-to-send-money-by-phone-number
Work is expected to gather pace in September on a project that will allow people in Cyprus to transfer money using only a mobile phone number. The system will be based on Greece’s IRIS service but adapted for the Cypriot market....
https://knews.kathimerini.com.cy/en/business/cyprus-economy-grows-more-than-three-times-faster-than-eurozone
Cyprus recorded 3.3% real GDP growth in the second quarter of 2026, putting the economy on a significantly stronger growth path than the eurozone, where expansion was 1%, Finance Minister Makis Keravnos said Friday....
https://knews.kathimerini.com.cy/en/news/coming-elections-put-banks-back-in-the-spotlight
Cyprus’ banks have reported strong profits since 2022. Although that momentum slowed during 2025, the European Central Bank’s interest rate increases in 2026, introduced in response to renewed inflationary pressures, are expected to give earnings another boost....
https://knews.kathimerini.com.cy/en/news/cyprus-aims-for-schengen-entry-without-resolving-national-issue
The Christodoulides administration has charted a new course by pursuing full Schengen membership regardless of whether the Cyprus problem is resolved, marking a break from previous governments....
https://knews.kathimerini.com.cy/en/news/cypriots-save-but-banks-pay-little-in-return
Cypriots who keep their savings in the bank are receiving very little in return, despite paying considerably higher interest when they need to borrow money....
https://knews.kathimerini.com.cy/en/news/bank-of-cyprus-profits-climb-to-€252-million-as-loans-and-deposits-grow
Bank of Cyprus made €252 million in after-tax profit during the first six months of 2026, marking a 7% increase from the same period last year....
https://knews.kathimerini.com.cy/en/news/cypriots-are-choosing-fixed-rate-home-loans-and-it-s-saving-them-from-interest-rate-shocks
If you're taking out a mortgage in Cyprus today, chances are you're choosing a fixed interest rate rather than gambling on where borrowing costs might go next....
https://knews.kathimerini.com.cy/en/comment/opinion/the-christine-lagarde-enigma
June's decision was never followed through. At the meeting one month later, the European Central Bank chose not to extend its restrictive monetary policy with another interest rate increase. The message in June had been clear. It was an immediate response to rising energy prices after fighting resumed in the Middle East....
https://knews.kathimerini.com.cy/en/news/the-€5-and-€20-in-your-wallet-could-soon-look-very-different
Take a look at the euro notes in your wallet. The €5 you use for your morning coffee, the €20 you hand over at the supermarket, or the €50 you keep aside for emergencies could look very different in the coming years....
https://knews.kathimerini.com.cy/en/business/cyprus-records-eu-s-second-largest-annual-drop-in-public-debt
Cyprus recorded the second-largest annual reduction in government debt among European Union member states during the first quarter of 2026, according to figures released by Eurostat on Tuesday....
https://knews.kathimerini.com.cy/en/business/cypriots-keep-shopping-despite-inflation-fears-and-global-uncertainty
Consumer spending in Cyprus remains strong despite market uncertainty caused by inflationary pressures and the war in the Middle East....
https://knews.kathimerini.com.cy/en/business/traditional-banks-are-funding-more-shadow-loans
While lending increasingly grows in a demanding environment with geopolitical developments affecting the region and by extension Cyprus, the boundaries between traditional and shadow banking are becoming more and more blurred....
https://knews.kathimerini.com.cy/en/business/cyprus-joins-ecb-digital-euro-pilot-programme
Cyprus will be among the 19 eurozone countries participating in the European Central Bank's first pilot programme for the digital euro, with testing expected to begin in the second half of 2027....
https://knews.kathimerini.com.cy/en/business/esm-report-says-cyprus-and-greece-are-the-only-eurozone-countries-expected-to-reduce-debt-through-2035
About half of the euro area countries, including the five member states that received assistance from the European Stability Mechanism (ESM), among them Cyprus, succeeded in reducing public debt and cutting deficits after the pandemic, thanks to the steady economic recovery and growing tax revenues....
https://knews.kathimerini.com.cy/en/business/business-lending-loses-momentum-because-of-the-middle-east-conflict
Bank lending in Cyprus had been on a strong upward trend for the past year and a half, but the war involving the United States, Israel, and Iran brought that pace to a stop. As a result, forecasts of slower credit growth were confirmed in March, even though Cyprus continues to perform well economically....
https://knews.kathimerini.com.cy/en/news/digital-euro-coming-by-2030-as-cyprus-gets-a-new-way-to-pay
The digital euro is slowly moving from theory to reality, and if all goes to plan, it could become part of everyday life across Cyprus and the rest of the eurozone by 2030....
https://knews.kathimerini.com.cy/en/news/ecb-rate-hike-to-add-€147m-to-greek-banks-as-profits-rise-from-widening-loan-deposit-gap
The European Central Bank’s latest interest rate increase, its first since 2023, is expected to boost bank profitability across the eurozone, including Cyprus, by widening the gap between what banks earn from loans and what they pay out to savers....
https://knews.kathimerini.com.cy/en/news/ecb-raises-interest-rates-as-expected
Cypriot households with mortgages and loans may soon feel additional pressure on their monthly budgets after the European Central Bank (ECB) decided to raise interest rates by 0.25 percentage points, marking its first rate increase since September 2023....
https://knews.kathimerini.com.cy/en/business/ecb-set-for-two-rate-hikes-this-year-what-it-means-for-cypriots
The war in Iran may be happening hundreds of kilometers away, but for many people in Cyprus, its effects could soon be felt much closer to home, in their electricity bills, supermarket receipts, and even their mortgage payments....
https://knews.kathimerini.com.cy/en/business/more-interest-rate-hikes-on-the-way-hitting-cypriot-borrowers-again
The last time the European Central Bank (ECB) raised interest rates was on September 20, 2023. But all signs suggest that another increase could be coming as early as next week....
https://knews.kathimerini.com.cy/en/comment/opinion/schengen-membership-but-how
On January 15, 2026, President Nikos Christodoulides said that ''a huge effort is underway, and by the end of 2025 we will have completed everything, with the aim that in 2026 the Republic of Cyprus will join the Schengen Area.''...
https://knews.kathimerini.com.cy/en/business/brace-for-another-interest-rate-hike-in-june-cyprus-central-banker-warns
Cyprus’ central bank chief has left the door open to another possible interest rate move by the European Central Bank next month, warning that rising energy uncertainty and geopolitical tensions are once again putting pressure on prices....
https://knews.kathimerini.com.cy/en/comment/opinion/a-new-wave-of-european-instability
Eleven countries are running deficits above 3%, with Romania, Poland, Belgium and France posting the weakest figures. Cyprus, Denmark, Ireland, Greece and Portugal remain among the surplus countries....
https://knews.kathimerini.com.cy/en/news/europe-debates-energy-aid-as-families-fear-new-spike-in-bills
As tensions linked to the conflict in Iran continue to shake global energy markets, European finance ministers gathered in Brussels on Monday facing a question many Cypriots already know too well: how do you help people cope with rising costs without blowing a hole in state finances?...
https://knews.kathimerini.com.cy/en/business/finance-ministry-says-government-actions-helped-keep-inflation-low-in-cyprus
Government policies introduced since 2025 have played a clear role in keeping prices relatively contained, according to the Ministry of Finance, which pointed to the latest Eurostat data to support its position....
https://knews.kathimerini.com.cy/en/news/cyprus-and-lithuania-move-closer-as-leaders-pledge-stronger-eu-ties
Cyprus and Lithuania are looking to tighten their ties, with both countries signaling a stronger partnership, not just between them, but also within the European Union....
https://knews.kathimerini.com.cy/en/business/ecb-says-interest-rates-played-a-key-role-in-curbing-inflation-across-the-euro-area
The European Central Bank (ECB) says monetary policy in the euro area was highly effective during the tightening cycle of 2022 to 2023. ...
https://knews.kathimerini.com.cy/en/news/cyprus-labour-costs-rise-to-€21-7-an-hour-in-2025-eu-data-shows
New figures released by Eurostat show that Cyprus recorded an average hourly labour cost of €21.7 in 2025, with non-wage expenses accounting for just under one-fifth of total labour costs....
https://knews.kathimerini.com.cy/en/news/cyprus-ceos-highlight-key-skills-shortage-as-a-top-concern
The findings of the 15th Annual PwC Cyprus CEO Survey, in which 77 business leaders from Cyprus participated this year, provide valuable insights into the challenges and risks shaping the business environment....
https://knews.kathimerini.com.cy/en/business/government-prepares-energy-relief-measures-as-crisis-reaches-households
The energy crisis triggered by the war in the Middle East has now reached the doorstep of every Cypriot household. Like other European governments, Cyprus is one step away from rolling out measures aimed at tackling soaring energy costs and the wider cost-of-living squeeze....
