FinMin says 3.6% growth rate estimate “significantly higher than European average”

FinMin says 3.6% growth rate estimate “significantly higher than European average”

The Statistical Service’s preliminary estimate for a 3.6% growth rate in the third quarter of 2025 is significantly higher than the EU average and confirms the impetus of Cyprus’ economy, Makis Keravnos has said. In a written statement, the Minister expressed satisfaction saying that “these figures confirm the impetus of the Cypriot economy, which in a period […]

Read More
TOURISE drives $113bn in deals, launches global AI travel protocol

TOURISE drives $113bn in deals, launches global AI travel protocol

Finance and technology announcements at the inaugural TOURISE Summit in Riyadh set out major investment commitments and the launch of a new global digital framework for tourism. TOURISE said it catalysed $113 billion in portfolio investments aimed at accelerating growth across the global tourism ecosystem. It said the portfolios were announced at the summit as part of a broad […]

Read More
Cyprus Business Now: weekly wrap-up

Cyprus Business Now: weekly wrap-up

Here are the top business stories in Cyprus from the week starting November 10: An agreement was signed on Thursday to bring to an end the months of wrangling between workers and employers over the cost-of-living allowance (CoLA) and set how it is implemented going forward. The signing was attended by President Nikos Christodoulides, who […]

Read More
French and Cypriot firms sign drone partnership at innovation forum

French and Cypriot firms sign drone partnership at innovation forum

French company Aerix Systems and Cypriot firm SignalGeneriX Ltd have formalised a memorandum of understanding to co-develop a multi-purpose, dual-use drone solution at the France-Cyprus Innovation and Cooperation Forum. The agreement combines Aerix Systems’ omnidirectional drone platforms and proprietary autopilot with SignalGeneriX’s advanced digital signal processing, communications and artificial intelligence technologies. The signing took place at the French […]

Read More
Cyprus outpaces EU with strong third-quarter economic growth

Cyprus outpaces EU with strong third-quarter economic growth

Cyprus’ economy recorded robust growth in the third quarter of 2025, with new national and European data confirming that the country continues to outperform the wider region. According to a flash estimate by the Cyprus Statistical Service (Cystat), Cyprus’ seasonally adjusted gross domestic product increased by 3.6 per cent year-on-year in the third quarter of 2025. Cystat said that the […]

Read More
Bank of Cyprus property sales reach €1.3 billion since 2019

Bank of Cyprus property sales reach €1.3 billion since 2019

The Bank of Cyprus‘ property management unit has achieved a significant turnaround in its non-core asset portfolio, announcing that property sales have exceeded new asset acquisitions since the start of 2019, as part of its financial results for the nine-month period ending September 30, 2025. The Real Estate Management Unit (REMU), which concentrates on liquidating properties acquired through debt-for-asset swaps, has […]

Read More