Cyprus hourly labor costs (total costs) rose by 7.3% year on year in the third quarter of 2021 following an annual rise of 17.1% in the previous quarter, the Statistical Service of Cyprus (Cystat) said on Thursday.

International tax reforms and supply chain transformations accelerated by the COVID-19 pandemic are contributing to an unprecedented level of uncertainty and risk for businesses’ transfer pricing functions, according to a new EY report.

Moody’s has upgraded Bank of Cyprus key ratings citing “significant improvement” in asset quality following an agreement on non-performing loans that would reduce the bank’s NPL ratio to single digits.

Bank of Cyprus will be imposing new and increased fees by February 2022, adopting the general trend of the European banking sector of increasing bank charges to cover a reduction of income stemming from low interest rates.

Demand for Covid-19 vaccines for children five to 11 was higher than expected, the health ministry said on Thursday amid complaints from parents trying to book appointments for their children.

Headquartering and company relocation in Cyprus is now even more attractive through the introduction of the FTBA, which is operated by the Ministry of Energy, Commerce and Industry (MECI).

Confidentiality is one of the key characteristic and advantage of arbitration, which makes it so attractive to parties, as method of dispute resolution.

A decrease of 3% in the number of job vacancies in the 3rd quarter of 2021 was recorded according to CyStat figures released Tuesday.

Fitch credit rating agency has revised the outlook for Bank of Cyprus and Hellenic Bank to positive from negative, citing the expected improvements in asset quality due to non-performing loans (NPL) sales.

International healthcare and diagnostic services company Medicover has acquired a controlling stake in Cypriot biotechnology NIPD Genetics, according to a statement released by the two companies earlier this month.