European Central Bank President Christine Lagarde on Wednesday backed German Chancellor Friederich Merz’s call for a single European stock exchange to support European listings and economic growth. “If we are serious about moving forward, we must complete the banking union and we must apply the same logic – and faster – to capital markets: a […]
Municipalities told to keep 2026 budgets balanced and within means Twenty municipalities across Cyprus will follow the precedent set in 2025 for their 2026 budgets, sharing a state grant totalling €117 million. According to a report by Philenews, this grant represents a significant increase of €45 million compared to the funding they received prior to the implementation of the Local Government Reform, […]
Invest Cyprus has been elected Regional Director of the World Association of Investment Promotion Agencies (WAIPA) for Eastern Europe for the 2025–2027 term. The elections took place in Sharjah, United Arab Emirates, during the 29th WAIPA World Investment Conference 2025, held in conjunction with the Sharjah Investment Forum. Representatives from over 140 countries gathered to […]
Cambodia’s trade with the Regional Comprehensive Economic Partnership (RCEP) member countries reached $29.5 billion in the first nine months of 2025, up 15.5 percent over the same period last year, said an official report on Tuesday. The country’s export to the RCEP members was valued at $7.43 billion during the January-September period this year, up […]
Cambodia and China have taken a significant step towards further expanding and strengthening agricultural trade cooperation with a renewed focus on opening fresh market opportunities for Cambodian farmers including those who sell swiftlet nests. The development comes as the Ministry of Agriculture, Forestry and Fisheries (MAFF) took part in the ‘Second Conference on Import and […]
Techo International Airport (KTI), which is set for the official inauguration today by Prime Minister Hun Manet, has reported robust numbers since starting its commercial operations on September 9, 2025. According to the data released by the State Secretariat of Civil Aviation (SSCA), KTI has handled an average of 15,000 air passengers daily following the […]
White walls, beige tiles, beech cupboards – that’s the typical modern Cyprus home, right? Clean, bright, classic – and a bit of a visual flatline! Now think back to the mountain villages: green shutters on the windows, splashes of red in the traditional tablecloths, sunshiney lemons in the courtyard. It’s all a bit brighter; a bit more […]
Last year’s growth rate in Cyprus amounted to 3.9% in real terms, according to a revised estimate published on Monday by the Cyprus Statistical Service. At current prices, the percentage change in gross domestic product amounted to 7.2%. According to CyStat, the positive growth rate is mainly attributed to the sectors: information and communication; hotels […]
The growth rate of the economy in 2024 is positive and is estimated at 3.9% in real terms, according to a revised estimate published by cySTAT. At current prices, the percentage change in Gross Domestic Product (GDP) amounts to 7.2%. According to CySTAT, regarding the production approach for the estimation of GDP in real terms, […]
The Central Bank of Cyprus (CBC) on Tuesday reported total assets of €30.07 billion as of September 30, 2025, according to its most recent financial statement signed by governor Christodoulos Patsalides. The statement shows that the largest share of the bank’s assets consisted of intra-Eurosystem claims, amounting to €19.78 billion. Holdings of securities of euro area residents denominated in euro stood at €6.97 billion, while gold and […]
Cyprus recorded one of the strongest budget surpluses in the entire European Union in 2024, coming in second only to Denmark and defying the deficit trend seen across the euro area and the wider bloc, according to Eurostat. The government deficit-to-GDP ratio for the euro area decreased from 3.5 per cent in 2023 to 3.1 per cent in 2024, the statistical office reported. A similar trend […]
Here are the top business stories in Cyprus from the week starting October 13: Cyprus’ property market is calmer this year, with foreign demand still providing momentum even as higher borrowing costs, rising construction prices and new environmental realities begin to reshape investment decisions. According to data from the Department of Lands and Surveys, property sales […]
Three volumes about a city totalling more than a thousand pages may appear over-long but not when it covers 37 centuries of history, starting from 1600BC. The three-volume work, titled Walking in the Κingdom of Salamina (Περπατώντας στο Βασίλειο της Σαλαμίνας), looks at 37 centuries of civilization in Ammochostos, which in English is referred to as Famagusta. It […]
Tourist arrivals recorded an annual increase of 12% in September, reaching 570,635 compared to 509,463 in the same month of 2024, Cystat said. For the period of January – September 2025, arrivals were up 10.3% to 3,604,790 compared to 3,268,090 in the corresponding period of 2024. The UK, as usual, held the lion’s share of […]
Cyprus’ Residential Property Price Index posted a 4.7% annual rise in the second quarter of 2025, according to data published on Friday by the Central Bank of Cyprus, highlighting an accelerating increase for apartments and a slowdown for detached properties.
Cyprus has emerged as the European Union (EU) leader for tourism growth in 2024, registering the highest year-on-year growth in overnight stays among all member states, according to Eurostat. The EU’s statistical office on Friday reported that Cyprus saw a significant increase of 14.5 per cent in the number of nights spent in its tourist accommodation establishments compared with 2023. […]