US Ambassador to Cyprus Julie Davis this week highlighted the crucial role of American investments in Cyprus’ economic development. Speaking at an event at Neapolis University Paphos titled “USA – Cyprus: Strengthening Trade and Economic Ties,” Davis highlighted opportunities in tourism, real estate, the higher education sector, sustainable energy, and the attraction of international business hubs. According to […]

The Deputy Ministry of Tourism has expressed satisfaction with its participation at the ITB Berlin tourism conference this week, where minister Kostas Koumis led the Cypriot delegation. According to an official announcement, the meetings aimed at enhancing tourism from Germany yielded significant advancements, including a substantial rise in airline seats scheduled for 2025. Koumis engaged […]

Eurobank Cyprus on Friday announced that it posted a net profit after tax of €214 million in 2024, marking a €14.6 million increase from the previous year, corresponding to a rise of 7.3 per cent. In addition, profit before tax reached €258.7 million, with the announcement stating that the results “reaffirm the bank’s sound performance and resilience”. In addition, it highlighted its […]

Here are the top business stories in Cyprus from the week starting March 3: The Cyprus International Businesses Association (CIBA) is currently analysing the proposed tax reform, according to an official statement. Following its review, the statement said, CIBA will present its views and recommendations to president Nikos Christodoulides and Finance Minister Makis Keravnos. “These […]

The Services Turnover Index recorded significant growth in both the fourth quarter and the full year of 2024, according to data released by Cystat. On an annual basis, for the period January – December 2024, turnover increased notably in administrative and support services (8.9%) and in accommodation and food services (8.2%). Strong gains were also […]

Neapolis University Pafos hosted an insightful panel discussion focused on enhancing economic and commercial ties between Cyprus and the United States on 5 March. Key participants included Julie Davis, U.S. Ambassador to Cyprus, Marios Tannousis, CEO of Invest Cyprus, John Georgoulas, US Chamber of Commerce Cyprus Member of the Board & Chairman of the Economic […]

The Transport and Storage Turnover Value Index recorded a 1.6% increase in the period January-December 2024, compared to the same period in 2023, according to Cystat. In the fourth quarter of 2024, the index reached 142.4 points (base year 2021=100), marking a 2.2% year-on-year increase. By economic activity, significant growth was observed in water transport […]

Larnaca and Paphos airports exceeded the 500,000-passenger threshold in February, the first time ever for this month, recording an annual increase of 8%, while passenger traffic has increased by 7.39% since the beginning of 2025, compared to 2024, according to an announcement by the Ministry of Transport, Communications and Works. The Ministry said that Larnaca and […]

Cenergy Holdings on Wednesday announced its consolidated net profit after tax increases of 139 million euros for the financial results of the year ending December 31, 2024, and a dividend of €0.14 per share, increased by 75% compared to the previous year. Adjusted EBITDA reached €272 million, up 27% year-on-year. 

The PwC Cyprus Foundation on Thursday announced the successful completion of its Scale Up 2 Programme, a global PwC initiative designed to accelerate the growth of promising startups. This year, for the first time, the programme placed a strong emphasis on women-led startups. The company said that this aimed to acknowledged “the unique challenges faced by female entrepreneurs and equipping them with the […]

Deputy Minister of Research Nicodemos Damianou has called for increased public funding and private investments in cybersecurity for small and medium enterprises (SMEs), during an informal EU telecommunications ministers’ meeting. The call aligns with the EU’s broader strategy to bolster resilience against growing cybersecurity threats.  The meeting also saw the ratification of the ‘Warsaw Call on cybersecurity […]

Cyprus’ Larnaca and Paphos airports achieved a milestone in passenger traffic during February, surpassing half a million passengers, according to the Transport Ministry. Specifically, the two airports welcomed a total of 535,423 passengers, representing an 8 per cent increase compared to the same month in 2024. This rise is particularly remarkable as February traditionally records the lowest passenger traffic of the year. […]

The Bank of Cyprus on Thursday announced that it has received the Quality Recognition Award from global financial services firm JP Morgan Chase. The award, which the Bank of Cyprus has won for the fourth year running, is given in recognition of excellent funds transfer processes under SWIFT. In its statement, the bank noted that […]