The Central Bank of Cyprus (CBC) announced this week that it expects a 2.2 per cent increase in the country’s Gross Domestic Product (GDP) for the year 2023, following a substantial 5.1 per cent expansion in 2022. Looking ahead to the years 2024-2026, the CBC projects GDP growth rates of 2.6 per cent, 3.1 per cent, […]

The Central Bank of Cyprus (CBC) said it expects GDP growth of 2.2% in 2023, compared to significant growth of 5.1% in 2022, while for the years 2024-26 it expects GDP growth of 2.6%, 3.1% and 3.2%, respectively. CBC Governor Constantinos Herodotou has stressed that “the implementation of reforms and the emphasis on sustainable growth […]

Minister of Finance Makis Keravnos and Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou, discussed ways of productive cooperation between the two institutions in order to promote the digital transition. In statements after the meeting, the Minister of Finance said that the digital transition is a “basic political direction” of the Government, which […]

Lending in Cyprus last year by the European Investment Bank (EIB) Group rose to €257 million, up 3% compared with 2022. The new financing went towards increasing economic competitiveness, mitigating climate change and improving everyday life for residents. The EIB committed €130 million to support a programme called THALIA that targets smart and green investments […]

Industrial production in Cyprus increased by 2.4% in 2023 compared to 2022, according to data released by Cystat. The Industrial Production Index reached 136.1 units (base year 2015=100) in December 2023, marking a 2.3% increase compared to the same month in 2022. Overall, during the year 2023, the index showed a 2.4% increase compared to […]

After lengthy tender procedures, the Electricity Authority (EAC) has awarded the tender for the installation of smart meters to the Cyprus Telecommunications Authority (Cyta), it emerged on Wednesday. The decision to award the tender for the supply and installation of 400,000 meters was made by the EAC’s new board of directors on Monday, as reported by Phileleftheros. The […]

Consulting and advisory firm Deloitte Cyprus on Thursday announced the release of the organisation’s Global Human Capital Trends report for 2024, which examines the most important issues for organisations, leaders and workers. This year’s report, based on surveys from over 14,000 business and human resources leaders across many industries and sectors in 95 countries, including Cyprus, “Thriving Beyond Boundaries: […]

Cyprus’ tourism revenue amounted to €74.3 million in December 2023, compared to €57.6m in the corresponding month of the previous year, marking an increase of 29 per cent, according to a report released on Thursday by the Cyprus Statistical Service (Cystat). According to the report, which is based on the results of the service’s Passenger Survey, […]

Industrial production in Cyprus witnessed an increase of 2.4 per cent in 2023 compared to the previous year, according to a report released on Wednesday by the Cyprus Statistical Service (Cystat). Cyprus’ Industrial Production Index reached 136.1 units in December 2023, with 2015 being the base year, marking a 2.3 per cent rise compared to […]

The Vice President of the European Investment Bank (EIB), Kyriakos Kakouris, is set to embark on an official visit to Cyprus on Thursday and Friday. The visit, according to an announcement released on Wednesday by the Finance Ministry, will include a series of meetings with key Cypriot officials. Accompanied by a delegation from the EIB […]

Alkis H. Hadjikyriakos Public Ltd, which makes the Frou Frou brand biscuits has announced increases in the prices of its products containing chocolate by 20 to 30 percent. The higher prices that will come into effect on April 1 are the direct result of the rising cost of cocoa which has increased by a staggering 153.55 per […]

The President of Italy was impressed by the significance and grandeur exuded by the mosaics of Paphos, during yesterday’s afternoon tour of the Archaeological Park of Kato Paphos. Accompanied by the President of the Republic of Cyprus, Nikos Christodoulides, Sergio Mattarella toured the House of Dionysus and admired the mosaics and other antiquities that are […]

I enjoy walking along Finikoudes in Larnaca, especially now it stretches all the way to Mackenzy. But some of the restaurants have the reputation of being a tourist trap, and this has put me off in the past. However, one restaurant has been there for quite some time and is a cuisine I rather enjoy […]

The University of Limassol (UoL) on Tuesday released a statement announcing a new partnership with the Association of Information Technology and Telecommunications Executives of Maritime Companies (AMMITEC). AMMITEC is a distinguished non-profit organisation dedicated to advancing digital transformation, cybersecurity best practices, and strengthening the role of Information Technology (IT) in the global maritime sector. According […]

Small and Medium-sized Enterprises (SMEs) and start-ups often grapple with a significant hurdle to their growth – the limited availability of finance. In a bid to address this challenge, the Cyprus Chamber of Commerce and Industry (Keve), in collaboration with the Cyprus Stock Exchange and the support of Enterprise Europe Network Cyprus, will be organising an […]

The Ministry of Energy, Commerce, and Industry informed the Directorate-General for Energy of the European Commission of its intention to explore the implementation of the Smart Readiness Indicator system in Cyprus. The Smart Readiness Indicator for buildings is an assessment system of building intelligence, established by the European Commission in 2018 through the European directive […]