Moody’s Ratings announced on Thursday that it has upgraded the Bank of Cyprus’ long-term deposit ratings to Baa1 from Baa3, changing the outlook to stable from positive.

European Commissioner for International Partnerships Jutta Urpilainen discussed the philosophy underpinning the European Union’s strategy for international development, known as the Global Gateway, during an interview with the Cyprus News Agency (CNA), ahead of her visit to Cyprus.

For yet another consecutive year, PwC Cyprus presented the 12th Invest Cyprus International Investment Awards. This prestigious event has established itself as the foremost platform for highlighting foreign investments in Cyprus, recognizing international companies and investors who significantly contribute to the development of the Cypriot economy.

Tourism revenue in Cyprus saw a modest rise of 5.5 per cent in the first quarter of 2024, compared to the same period in 2023, while April remained essentially the same, according to a report released on Monday by the Cyprus Statistical Service (Cystat).

Cyprus saw a 20.1 per cent increase in tourist arrivals during 2023, reaching 3,845,652 compared to 3,201,080 in 2022, with over one-third of visitors staying in Paphos, according to a report by the state’s statistical service.

The Council of Ministers of the Republic of Cyprus, through Regulatory Administrative Act RAA 209/2024, has issued a Decree by which the deadline for the submission of the 2023 Personal Income Tax returns (TD1) has been extended to 23:59 hours on 31 October 2024.

The Cyprus Tax Department has extended both the submission of the Personal Income Tax (Form T.D.1) for the tax year 2023 as well as the settlement of any liability that may arise until 31 October 2024, which is available for submission via the TAXISnet platform. The form should be submitted by all employees, pensioners and self-employed persons for whom the combined total income for 2023 exceeds €19.500 .

Advertising, Marketing & Promotion Comparative Guide for the jurisdiction of Cyprus, check out our comparative guides section to compare across multiple countries

Environmental, social, and governance (ESG) factors have become increasingly important in the last few years and are now influencing business decisions all over the world. Companies in Cyprus are seeing the value of incorporating ESG concepts into their operations. This happens because the whole community becomes more aware of how business actions affect the environment and society. Discover the importance of ESG for sustainable growth for businesses in Cyprus, and how companies may use it to achieve long-term growth.

A number of important elements have contributed to the recent success of games companies. The Covid 19 pandemic caused a global increase in the consumption of digital entertainment, which in turn has increased demand for video games. Technological developments like Artificial Intelligence (AI) Virtual Reality (VR) and cloud gaming, have improved gaming and drawn in a wider audience. The accessibility of mobile gaming combined with 5G technology and networks have both fuelled the industry’s rapid expansion and profitability. Of additional importance is the broader spectrum of game offering and audience age range as first generation gamers from the early late ‘70’s and early 80’s now reach their 60’s.