President Christodoulides announced a €10 million increase in the Deputy Tourism Ministry’s budget for 2025 to enhance the country’s promotion abroad, fulfilling a long-standing request from tourism stakeholders. He also highlighted the potential for a direct air link between Cyprus and the US, revealing that an American company is currently exploring this possibility. Speaking at the […]
Cyprus saw a 20.1 per cent increase in tourist arrivals during 2023, reaching 3,845,652 compared to 3,201,080 in 2022, with over one-third of visitors staying in Paphos, according to a report by the state’s statistical service. Another key highlight of the report was that Cyprus’ tourism revenue rose by 22.6 per cent, totalling €2.99 billion. […]
Greece’s Regulatory Authority for Energy (RAAEY) has made a significant decision regarding the methodology for calculating the regulated revenue of the Greece-Cyprus electricity interconnection project, marking a crucial step toward finalizing the regulatory framework for the Great Sea Interconnector (GSI) project. According to a briefing from Greek grid manager ADMIE, that is the project’s implementing […]
Tourism revenue in Cyprus saw a modest rise of 5.5 per cent in the first quarter of 2024, compared to the same period in 2023, while April remained essentially the same, according to a report released on Monday by the Cyprus Statistical Service (Cystat). According to the report, which is based on the Cyprus Statistical […]
Eurobank on Monday announced that it now holds shares representing 55.48 per cent of the total issued share capital and voting rights of Hellenic Bank. Specifically, Eurobank S.A., a subsidiary of Eurobank Ergasias Services and Holdings S.A., disclosed that on June 28, 2024, it purchased 168 shares of Hellenic Bank Public Company Limited (“Hellenic Bank”) […]
The Cyprus Chamber of Commerce and Industry (Keve) this week announced its intention to explore the establishment of the Cyprus – Baltic States Business Association, aimed at enhancing economic and trade relations between Cyprus and the Baltic region. “We are pleased to announce that the Cyprus Chamber of Commerce and Industry is exploring the possibility […]
At the forefront of elevating Cyprus, real estate is Blackbook Agency, led by Managing Director Eleftheria Voskaridou. The real estate market in Cyprus is an ever-evolving landscape, shaped by a confluence of economic, social, and technological trends. The sector has experienced remarkable growth, attracting both local and international investors. Key trends such as sustainable building […]
The official inauguration of the European Investment Bank’s (EIB) new offices in Cyprus is set to take place this autumn, with EIB President Nadia Calvino scheduled to attend, Finance Minister Makis Keravnos announced on Wednesday following a Cabinet meeting. Keravnos revealed that the decision was finalised after a recent meeting with President Calvino in Luxembourg, […]
The Turnover Value Index of Sales and Repair of Motor Vehicles recorded an increase of 15.7% compared to the corresponding quarter of the previous year, according to data released by CySTAT. Motor vehicle sales increased by 20% in the first quarter, compared to the first quarter of 2023, vehicle maintenance and repair increased by 11.2% […]
Big names such as Tesla and Samsung have shown interest for a public tender aiming to set batteries to store electricity in Cyprus, Minister for Energy, Commerce and Industry George Papanastasiou has said, adding that the first phase concerns a 150-Mega Watt storage facility for which a tender is expected to be launched in September. […]
Cyprus’ ship registry experienced an increase in oceangoing vessels in the first half of the year, reversing a two-year decline, thanks to geopolitical tensions impacting global shipping, the island’s Deputy Minister for Shipping Marina Hadjimanolis announced. Speaking at the International Business Day organized by the Cyprus International Business Association on Tuesday, Hadjimanolis highlighted that geopolitical […]
The Cyprus Securities and Exchange Commission (CySEC) on June 25 approved the publication of the Public Offer Document for the acquisition of up to 100 per cent of Hellenic Bank’s issued share capital. Eurobank S.A. announced the approval on Wednesday, revealing that shareholders who accept the Public Offer will receive a consideration of €2.56 per […]
Public Group is launching investments of 30 million euros for the next three years, with the emphasis being placed both on the expansion of the store network in areas where it currently has a limited presence, and on the development of new services, which improve the shopping experience and at the same time provide added […]
Deputy Minister of Shipping Marina Hadjimanolis announced at the Cyprus International Business Association (CIBA) forum on Tuesday that the fleet of Cypriot-flagged ocean-going vessels has grown for the first time in two years. This rebound comes after a period of decline fuelled by geopolitical tensions, notably the conflict in Ukraine and disruptions in global shipping caused […]
The potential sale of a substantial stake in the Bank of Cyprus’ equity, along with geopolitical developments, took centre stage at the Cyprus International Business Association (CIBA) forum, which took place on Tuesday in Limassol. It should be noted that Bloomberg recently reported that AB CarVal Investors and Caius Capital are interested in selling their shares in […]
Deputy Minister of Shipping Marina Hadjimanolis recently embarked on a series of important meetings in Geneva, according to an official statement by the ministry released on Tuesday. The statement noted that on June 20, Hadjimanolis visited Geneva with the express purpose of promoting the Cypriot ship registry. Moreover, her visit included a series of high-level […]