Prime Minister Hun Manet and Singapore Prime Minister Lawrence Wong have decided to set up a joint working group to promote trade and investment between the two countries and also agreed to operate more direct flights to encourage tourism. The decisions were taken when the two Prime Ministers, accompanied by top officials, met on Tuesday […]
Firm and salty, Halloumi cheese is best when cooked and can stand up to countless preparations, from grilling to frying. This white cheese originated on the Mediterranean island of Cyprus, and is traditionally made with sheep’s milk, though you’ll also find cow’s and goat’s milk versions, or ones that are made with a combination. Halloumi […]
“We predict that real estate prices in the area will rise by double digits in the coming years,” Bell Real Estate Group claimed yesterday (Sunday) at the launch event of its flagship project in Larnaca, Cyprus. The elegant complex, spread over approximately 4 hectares, includes 7 architecturally designed buildings with 304 low-rise housing units, three pools, ornamental […]
Freedom Holding Corp. (FRHC), the parent company of Freedom24, this week reported record-breaking results for the fiscal year ending March 31, 2024. During this period, the holding company’s revenue doubled to $1.6 billion, while net income rose by 82 per cent to $375 million. The significant revenue growth was primarily driven by increases in interest […]
‘I don’t know what Paradise is like, but I hope it smells of Cyprus!’ ALIX NORMAN discovers one of the island’s towns has been named a ‘Best-Smelling City’, and asks what aromas most strongly trigger our memories Watch people disembarking from a plane in Larnaca or Paphos, and it’s immediately clear who’s been to Cyprus […]
Tourist arrivals in Cyprus displayed a slight yet steady increase in May 2024, compared to the same month last year, with the primary markets sustaining robust performance levels, the Cyprus Statistical Service (Cystat) revealed on Monday. Notably, the figures for this period show a rise in tourist numbers to 421,400 from 420,076 in May 2023, […]
Tourist arrivals in Cyprus displayed a slight yet steady increase in May 2024, compared to the same month last year, with the primary markets sustaining robust performance levels, the Cyprus Statistical Service (Cystat) revealed on Monday. Notably, the figures for this period show a rise in tourist numbers to 421,400 from 420,076 in May 2023, […]
The Paphos Regional Tourism Board (Etap) hosted on Monday partners of the SMARTIES for SMEs project, in a move that seeks to bolster the competitiveness and resilience of small and medium-sized enterprises (SMEs) in the tourism sector. The initiative, underpinned entirely by European Union funding, seeks to distribute €375,000 among 15 SMEs to foster their […]
Representatives from eight German energy companies will be in Cyprus between 1 – 4 of July, following an initiative of the German Federal Ministry for Economic Affairs and Climate Action. The mission is organised by the Greek-German Chamber of Commerce and Industry with the support of the Cyprus Chamber of Commerce and Industry (CCCI) and […]
Deputy Minister of National Economy and Finance Nikos Papathanasis emphasized at the EU General Affairs Council of cohesion policy ministers that reforms must accompany investments to improve regional competitiveness. The meeting was held on Tuesday in Luxembourg. The session focused on linking the cohesion policy with the EU’s ongoing Strategic Agenda for 2024-2029 and addressing […]
Plans are underway for a €50 million mixed-use development project, “Hyperion Limassol,” at Limassol’s historic Old Port. The project’s centrepiece will be a 36-cabin observation wheel, similar to the London Eye, offering panoramic views from an estimated height of 147 meters above sea level. The project will be constructed on land created by reclaiming the […]
The Online Business Registration (OBR) service, an information technology nursery of the Ministry of Economy and Finance (MEF), approved 36,509 applications worth 46 trillion riels ($11.13 billion) in four years, of which 38 percent of the commercial owned by women, said a MEF release. Celebrating the fourth anniversary of the OBR service on Sunday, the […]
Cyprus experienced an increase of 9.4 per cent in beer sales in May, compared to the same month of the previous year, reaching 4,682,575 litres in total, a result of a rise in domestic demand, according to the Cyprus Statistical Service (Cystat). According to the Cystat report, which was released on Monday, beer sales intended […]
Cyprus on Saturday welcomed an upgrade to the economy by ratings agency Standard & Poor’s, who updated long-term ratings to ‘BBB+’ from ‘BBB’. The agency also assigned a positive outlook and affirmed the short-term rating at ‘A-2’. Following the upgrade, President Nikos Christodoulides said: “It is the 5th in a row since taking over the governance […]
The occupancy rate of the aircraft arriving in Cyprus last month reached around 85 per cent and is on the rise as peak season approaches, Hermes Airports said on Friday. Director of Aviation Development and Communication Maria Kouroupi told CNA that currently, around 41,000 passengers arrive or depart from Larnaca and Paphos airports. “The summer […]
Here are the top business stories in Cyprus from the week starting June 10: President of the Famagusta Hoteliers Association (Pasyxe), Panayiotis Constantinou, remains cautiously optimistic about the future of tourist bookings in the Famagusta district, despite the challenging circumstances currently plaguing the tourism industry. Speaking to the Cyprus News Agency (CNA), Constantinou explained that […]