Greek and Cypriot energy regulators have approved €550 million in recoverable revenues for IPTO, Greece’s power grid operator, for 2024-2025, clearing a major regulatory obstacle for the Greece-Cyprus electrical interconnection project. This decision paves the way for IPTO to issue a full notice to proceed to cable manufacturer Nexans, effectively resolving an impasse that had stalled the project. […]
Cyprus leads the EU in aeroplane use, according to Eurostat data published on the occasion of the European Mobility Week. The data show Cyprus has a high reliance on air travel, with 23.2% of passenger kilometres attributed to this mode of transport. Air transport has seen a notable increase EU-wide, rising by 6% compared to […]
Finance Minister Makis Keravnos on Saturday hailed rating agency Morningstar DBRS’ decision to give Cyprus a credit rating of BBB (high) and upgrade the island’s outlook from “stable” to “positive”. Reacting to the news, he said the government “will continue to … promote the appropriate financial plans which will allow the maximum possible utilisation of all the […]
Bookings and programs from major European tour operators have officially confirmed what was anticipated as early as July: Paphos is set to maintain its strong visitor numbers into the first two months of autumn. High occupancy rates at tourist facilities, confirmed bookings for September and October, and positive signals from UK-based travel agents all point […]
Here are the top business stories in Cyprus from the week starting September 16: Following the recent announcement of a €30 million investment in premium AA games by Mad Crusader, a Cyprus-based IP incubator, the Cyprus Mail sat down with founder and CEO Yarr Rash to explore the company’s vision. As a leading innovator in the gaming world, […]
Cyprus is in “advanced consultations” with the United Arab Emirates regarding the establishment of a joint company to participate in the share capital of the Great Sea Interconnector, President Nikos Christodoulides said on Saturday. Speaking to Greek television channel Open, he said there is “also interest” on the part of the United States and Qatar. The […]
The story of the bank, committed to serving the nation, reflects that of the island, The history of the Bank of Cyprus is and always will be intertwined with that of the country. This perfect connection was highlighted in a devastating response by the Bank of Cyprus general manager in 1955 when, during a general […]
Deputy Minister of Tourism Kostas Koumis on Thursday said that Cyprus is likely to set a new record for tourist arrivals from France. Speaking during a series of meetings in Paris, where he led the Cypriot delegation at the IFTM 2024 tourism exhibition, Koumis said that Cyprus is poised to surpass last year’s figure of […]
The country, which has more 300 days of sunshine a year, has embraced rooftop systems that harness the sun’s energy By Helena Smith in Cyprus The Thriamvos company truck pulls up at noon outside the four-storey building in the heart of Nicosia. It’s the third rooftop installation of a solar-powered water heating system that Petros Mihali and […]
The profitability of the Cypriot banking sector surged in the first half of 2024, with after-tax profits rising to €602.92 million, compared to €345.64 million at the end of March 2024. According to the Central Bank of Cyprus (CBC), net interest income for Cypriot banks reached €1.03 billion by the end of June 2024, a […]
The Cyprus Securities and Exchange Commission (CySEC) is participating in World Investor Week, scheduled for October 7-14, with a strong focus on financial literacy. “Financial literacy empowers citizens to manage their money effectively and make sound decisions regarding their financial activities,” stated Elena Karkoti, a Senior Officer at CySEC. Karkoti pointed out that promoting financial literacy has […]
PwC Cyprus this week honoured the academic achievements of five trainees who distinguished themselves in the associate chartered accountant (ICAEW ACA) examinations. Prominent figures attended the award ceremony at the company’s Experience Centre, including PwC Cyprus CEO, Philippos Soseilos, and Chief People Officer, Anna Loizou, celebrating the trainees’ exceptional academic results. The ceremony saw Georgia […]
Deputy Minister of Tourism Kostas Koumis on Thursday said that Cyprus is likely to set a new record for tourist arrivals from France. Speaking during a series of meetings in Paris, where he led the Cypriot delegation at the IFTM 2024 tourism exhibition, Koumis said that Cyprus is poised to surpass last year’s figure of […]
Beauty Det Sreynad has been crowned Miss Planet Cambodia 2024. She will now compete in the Miss Planet International competition, in a yet to be disclosed location.
Cyprus industrial workers’ federation (Oviek-Sek) secretary-general George Kasiouris on Thursday called for a “balanced approach” regarding the employment of third-country nationals on the island. “The strategy of granting work permits to third-country nationals must be based on a balanced approach, which combines the meeting of the needs of the domestic labour market with the safeguarding of […]
Bird Aviation announced the construction of a new hangar at the old Larnaca Airport, expanding its operations with the addition of a new narrow-body aircraft bay. The project, which recently commenced adjacent to the existing hangar on Bird Aviation’s premises, is on track for completion within the next few months. The new facility is a response […]