The Republic of Cyprus and Montenegro this week signed a Memorandum of Understanding (MoU) to mutually recognise the certificates of competency for officers on merchant ships, marking a significant step in their maritime cooperation. The agreement was signed in Limassol during an informal bilateral meeting by Cyprus’ Deputy Minister of Shipping Marina Hadjimanolis, and Montenegro’s […]

The Cyprus Chamber of Commerce and Industry (Keve), in conjunction with the Cyprus-Israel Business Association and the Embassy of Israel, has released a public invitation to a presentation on advanced water technologies from Israel. In addition, the presentation will also explore the application of these technologies in industrial and agricultural contexts. According to the announcement, […]

The average total government employment in Cyprus for the period of January – May 2024 rose by 5.1% to 54,385 persons compared with the respective period of last year, CySTAT has reported. In May 2024 total government employment reached 54,826 persons. According to CySTAT, employment In the Civil Service numbered 12,032 permanent employees, 4,248 employees […]

Eurobank on Monday, June 10, purchased an additional 503,934 shares in Hellenic Bank at a total cost of €1.29 million, increasing its stake to 55.42 per cent, with this purchase being made at €2.56 per share. In an announcement released this week, Eurobank S.A., a subsidiary of Eurobank Ergasias Services and Holdings S.A., confirmed the […]

The Cyprus Securities and Exchange Commission (CySEC) on Tuesday announced the official release of its regulatory sandbox, with the presentation of the launch taking place during an online event. In its announcement, the commission said that “this initiative marks a significant milestone in the advancement of financial, regulatory, and supervisory technologies (FinTech, RegTech, and SupTech) in Cyprus”. During […]

The Shipping Deputy Minister to the President, Marina Hadjimanolis, visited Athens between 1-7 June, on the occasion of Cyprus’s participation in the International Maritime Exhibition “Posidonia 2024.” According to a Deputy Ministry press release, within the framework of the exhibition, Hadjimanolis participated in actions and initiatives aimed at promoting Cyprus Shipping and visited the exhibition […]

Hellenic Bank actively supports various initiatives to enhance financial literacy, including the ‘Financial Alphabet’ programme, the final event of which was hosted at the bank’s headquarters in Nicosia. According to a statement released on Monday by Hellenic Bank, the ‘Financial Alphabet’ educational programme was implemented in Cyprus by ActionAid Hellas, with funding from the European […]

Revenue from tourism reached an estimated €223.3m in January–March 2024, rising 11.7% compared to €200m in the first quarter of 2023, Cystat said. Based on the results of its Passengers Survey, in March, revenue from tourism reached €113m, compared to €97.8m in the corresponding month of 2023, recording an increase of 15.5%. The average expenditure […]

The share of hybrid cars rose from 26.6% to 37.3% during the period of January-May 2024, compared to the same period of 2023, according to Cystat. At the same time, the share of petrol powered passenger cars dropped to 49.3%, from 60.8% in the corresponding period of 2023. The total registrations of motor vehicles during […]

Total Employment for the first quarter of 2024 is estimated at 474,587 persons, marking an annual increase of 2.2%, data published by CySTAT show. According to CySTAT, of the total 474,587 persons, 425,090 were employees and 49,497 were self-employed. The most significant percentage increases were observed in the economic activities of Administrative and Supporting Service […]

The Deputy Ministry of Tourism has introduced the “Historic Hotels of Cyprus” label in a bid to establish the basic characteristics that a hotel or tourist accommodation business  must have in order to be classified as a “Historic Hotel”. Through the action, the Deputy Ministry aims to improve the image of Cyprus as a tourist […]

The Cyprus Seeds 2024 Innovation Showcase at the Reflect Festival concluded on 31 May, marking a significant milestone in the advancement of the innovation ecosystem in Cyprus. Held at the Kolla Factory of Culture, the event brought together distinguished speakers, startup investors, world-class mentors, pioneering innovators, and more than 120 participants, creating a platform for […]

The European Central Bank’s (ECB) decision to cut interest rates by 0.25 per cent on Thursday is expected to have a positive impact on the Cypriot economy, Professor Sofronis Clerides, Dean of the Faculty of Economics and Management at the University of Cyprus, said on Friday. Speaking to the Cyprus News Agency (CNA), Clerides highlighted that a […]

The number of building permits issued in Cyprus increased by 3.3 per cent year-on-year for the period of January to March 2024, with the value of these permits rising to €0.73 billion, marking a 13.2 per cent annual increase. According to a report released on Friday from the Cyprus Statistical Service (Cystat), the total number of building permits in […]

The Ministry of Transport, Communications and Works has announced that May 2024 passenger traffic at the airports in Larnaca and Paphos amounted to 1,140,659 passengers. This marks an increase of 4.26% compared to the same month in 2023. The total traffic at the airport in Larnaca showed an increase of +4.3%, while the corresponding traffic […]

A new AI-powered assistant called Placy has been launched in Cyprus, aiming to transform the real estate sector, according to an announcement released on Thursday. The announcement noted that this tool aims to simplify the traditionally complex property market, offering increased efficiency and insight for both professionals and clients. “Cyprus presents a unique opportunity for […]