The Deputy Ministry of Research, Innovation and Digital Policy on Tuesday announced that it has entered into a strategic agreement with Lenovo and Newcytech Business Solutions Ltd. According to the announcement, the agreement, which was signed with the ministry’s department of information technology services, aims to improve the digital infrastructure of Cyprus’ public sector. The agreement concerns the supply […]
Cyprus ranked above Greece on nominal income, below on value Cyprus has been ranked in the middle of the global wealth rankings for 2025 by The Economist, which placed Switzerland at the top and Burundi at the bottom in its assessment of 178 countries. The list measures income at market exchange rates, purchasing power adjusted for local prices, and […]
The Central Bank of Cyprus (CBC) on Tuesday reported total assets of €28.35 billion as of June 30, 2025, according to a report by governor Christodoulos Patsalides. The largest component of the central bank’s assets was intra-Eurosystem claims, which stood at €18.09 billion. Securities of euro area residents denominated in euro accounted for €7.22 billion. Gold and gold receivables totalled […]
Cyprus generated €3.2 billion from tourism in 2024 as traveller numbers rose, with Paphos ranked as the island’s top destination, according to a report released on Tuesday by the statistical service. Specifically, total arrivals reached 6,285,427 during this time, reflecting a rise of 2.9 per cent over the previous year. Departures, meanwhile, totalled 6,270,760, which also marked an increase of 2.70 per cent […]
Minister of Energy, Commerce and Industry, George Papanastasiou participated in the informal meeting of the EU Ministerial Competitiveness Council that was held in Copenhagen on 18 July. Ministers exchanged views on ways to strengthen the competitiveness of the European Union which is called upon to respond to increasing pressures from international competitors, as well as the […]
Cyprus’ tourism continues its upward trajectory, breaking record after record, despite significant challenges, primarily due to geopolitical developments in the region. Although the situation in Israel remains fragile—as does the ceasefire—the neighbouring country continues to be a stable and significant pillar and partner for the tourism industry, remaining the second largest source market. At the […]
Wizz Air on Monday announced two new direct air services, linking its new hub in Warsaw, at Modlin Airport, with Athens and Paphos as of this December. The airline will start flying between Warsaw and Athens on December 1 every Monday, Wednesday, Friday and Sunday and link Paphos with the Polish capital as of December […]
The Central Bank of Cyprus has marginally revised down its economic growth forecast for 2025 to 3.1%, compared to the 3.2% projected in March, according to its July Economic Bulletin. Central Bank Governor Christodoulos Patsalides noted that the Cypriot economy continues to demonstrate remarkable resilience and dynamism despite international uncertainties. Economic growth reached 3.4% in 2024, […]
Service nears full bookings for 2025 The passenger and vehicle ferry route between Limassol and Piraeus is continuing to draw strong demand, with nearly full bookings reported for all scheduled sailings in 2025. According to figures published on Monday by Politis, a total of 7,719 passengers have already reserved seats for the 2025 season. Of these, 3,781 bookings were […]
Cyprus recorded a budget surplus of €619.1 million in the first quarter of 2025, according to preliminary fiscal data released on Monday by the Cyprus Statistical Service (Cystat). This marks an increase from the surplus of €575.70m reported during the same period in 2024. Total revenue rose by €231.20m or 6.8 per cent, reaching €3.64 billion in the January to March […]
CBC projects further debt drop to 57 per cent of GDP in 2025 The Cypriot economy continues to demonstrate significant resilience and adaptability despite ongoing global uncertainty, according to Central Bank of Cyprus (CBC) governor Christodoulos Patsalides. In its June 2025 economic bulletin, the CBC revised its forecast for the country’s growth rate in 2025 to 3.1 per […]
The Cambodia Chamber of Commerce (CCC) has highlighted the success of its participation in the international exhibition “The Battery Show Asia 2025 – Mobility Tech Asia” in Hong Kong, China. During their mission, the delegation held meetings with several international investors. According to a July 19 CCC social media post, the Cambodian delegation was led […]
Wing Bank Launches Its New Bank Outlet in Kampong Thom to Drive Community Growth and Financial Empowerment Wing Bank (Cambodia) Plc has expanded its presence with the opening of its new bank outlet in Kampong Thom province, reinforcing its commitment to bringing comprehensive banking services to communities across Cambodia. The launch event was graced by […]
Despite the fact that goods produced in Cambodia will be subject to 36% tariffs on all exports to the US from August 1, Cambodia’s footwear export activities to international markets — including the US — are still showing remarkably positive signs. A report released last week by the Cambodia Footwear Association (CFA) stated that from […]
Beijing, China – China confirmed that top leaders from the European Union will visit on Thursday for a summit, as the two major trading partners seek to smooth over a series of trade disputes. “As agreed between China and the EU, President of the European Council Antonio Costa and President of the European Commission Ursula von der […]
Here are the top business stories in Cyprus from the week starting July 14: The finance ministry has “absolutely refused” to pay any money to Greece’s independent transmission system operator (Admie) for the Great Sea Interconnector project, on account of the fact that the project is “frozen”, according to reports on Friday. News website Brief […]