Cyprus is revising its current national industrial policy to align with the European approach, stated Marios Panayides, Permanent Secretary at the Ministry of Energy, during a recent EU Competitiveness Council meeting held in Brussels. According to an official announcement, the council adopted the conclusions “on a competitive European industry as a driver of our green, […]
The Cyprus Stock Exchange (CSE) and the Hellenic Energy Exchange (HEnEx) will sign a Memorandum of Understanding (MOU) governing negotiations on the secondary market of Guarantee of Origin certificates from renewable energy sources, it emerged on Monday. The signing ceremony is scheduled for Thursday, May 30, 2024, at the Presidential Palace. According to a statement released on Monday […]
Sir Stelios Hadji-Ioannou, renowned for establishing the easy family of brands and serving as the founder and president of the Stelios Philanthropic Foundation, has launched the second annual “Stelios Awards for Young Entrepreneurs in Cyprus.” According to an announcement released this week, this initiative aims to foster young entrepreneurship by distributing €100,000 among the top three […]
Despite the changes in the Recovery Plan and the delays observed in its implementation, Cyprus has managed to promote important reforms and launched public investments by announcing or signing several contracts, some of which are ongoing, while some other projects have been completed. In addition, more than 40 sponsorship projects have been announced and private […]
Frederick University and port management company DP World Limassol signed a Memorandum of Understanding (MoU) this week, seeking to “further strengthen their strategic partnership in fields of common interest”, according to an announcement released on Friday. The announcement noted that the MoU was signed on Thursday by DP World Limassol CEO Simon Pitout, and Frederick University’s Head of the Department […]
The Limassol Boat Show was officially inaugurated on Thursday evening at the Limassol Marina by Deputy Minister of Tourism Kostas Koumis. In a brief address, Koumis highlighted that the Limassol Boat Show has become a staple event, significantly contributing to local tourism by attracting exhibitors and visitors alike. He also extended his best wishes for […]
Hellenic Bank on Friday released its financial results for the first quarter of 2024, recording an after-tax profit of €93.3 million, with interim CEO Antonis Rouvas saying that the year “started on a strong footing” for the bank. “This performance demonstrates the resilience and robustness of our business model, despite the continuing challenges and uncertainty rising from […]
Eurobank Cyprus recently clinched the Digital Transformation Award at the Temenos Community Forum conference in Dublin, which took place from May 14-16. This accolade celebrates the bank’s successful execution of a three-year digital overhaul, where 85 per cent of its core banking, digital channels, data warehouse, and wealth management systems and infrastructures were modernised. By […]
Representatives from social partner organisations yesterday met at the Productivity Centre (KEPA) to discuss attracting Turkish Cypriots to training programmes offered under the European Year of Skills initiative. The government had earlier announced unilateral measures to improve the job prospects of Turkish Cypriots, including access to training programmes. KEPA, which implements the national action plan […]
Cyprus’ property market experienced price growth across most categories in the first quarter of 2024, according to the latest RICS Cyprus Property Price Index with KPMG in Cyprus. Apartments led the surge, with both sales and rental prices rising by around 10% year-on-year. Compared to the same period in 2023, apartment sales prices increased by […]
The Bank of Cyprus on Thursday announced the introduction of electronic dividend payments, following the European Central Bank’s approval for a cash dividend payout. Shareholders now have several options to receive their dividends electronically, ensuring a more convenient and efficient process. Specifically, shareholders of the Cyprus Stock Exchange (CSE) can choose from a number of methods to receive […]
Achieving remarkable progress, the construction of Limassol’s impressive new business hub continues to hit major milestones, showcasing a steadfast commitment to on-time completion. Neocleous Tower is a modern, sustainable, office building in central Limassol, welcoming corporations to experience the future of upscale workplace excellence. Redefining the standard for environment-focused, commercial real estate in Cyprus, the […]
The total assets of investment funds in Cyprus increased by approximately €293 million in March of this year, representing a rise of 4.5 per cent compared to December 2023, reaching €6.78 billion. According to an announcement by the Central Bank of Cyprus (CBC), which shared the latest investment fund figures this week, “this growth was primarily driven by a […]
During the period October-December 2023, the total weight of goods transported by road in Cyprus increased by 11.4% compared to the corresponding period of 2022. The weight of freight transported from and to Cyprus also increased by 8.5%, according to data published by CySTAT on 22 May. During the period January-December 2023, the total weight […]
Total assets of investment funds in Cyprus increased by approximately €293 million or by 4.5% in March 2024, compared to December 2023, reaching €6.78 billion. This was mainly due to the increase of approximately €260 million of their investments in shares and other related securities, which amounted to a total of €4.93 billion. According to […]
Cyprus’ office rental market is booming, with prices reaching a five-year high in the first quarter of 2024 and surpassing pre-pandemic levels. This surge is fuelled by robust demand, particularly for modern, Grade A office space. Market research from Danos International Property Consultants and Valuers shows a rental price increase of roughly 8.5% across Cyprus […]