Cyprus was the first country in the EU in terms of the rate of absorption from EU Cohesion Funds for the period 2014 to 2020, according to data presented by the Permanent Representative of Cyprus to the EU, Christina Rafti, during a discussion at the European Parliament’s Committee on Regional Development (REGI). In total, Cyprus […]

The Fredriksen Group, led by shipping magnate John Fredriksen, is contemplating moving a significant portion, if not all, of its shipping operations from Norway to Cyprus, citing dissatisfaction with Norway’s framework conditions. In a Finansavisen newspaper interview, Fredriksen expressed frustration over the nature of Norway’s regulatory environment, including sudden rule changes, fees and taxes, which […]

Cambodia Investment Review The Cambodian economy is set to experience an acceleration in growth rates in the next two years, buoyed by a returning tourism sector and robust manufacturing activities, the Asian Development Bank (ADB) outlined in its latest Asian Development Outlook (ADO) report for April 2024. The forecasted growth rates of 5.8% for 2024 […]

Traditions of one of the island’s historic villages combine with the future of art in a new space. SARA DOUEDARI meets the visionaries behind the gallery where old meets new among lemon and olive trees  Down an alley in the village of Lefkara, a traditional brick building stands, leading into a gallery space that contrasts […]

Cyprus is in place to become a regional centre for technology and innovation, according to Deputy Minister of Research, Innovation and Digital Policy, Nikodemos Damianou said at the 14th Nicosia Economic Congress.  “Today, with the actions we have taken, we are in a better position than ever to be able to speak in a meaningful […]

Deputy Minister of Tourism, Kostas Koumis has stressed the importance of international collaboration to overcome the widespread challenges facing the tourism sector.   Speaking at the 70th Session of the Europe Commission of the World Tourism Organisation (UNWTO) in Tirana Koumis emphasised the commonality of issues across European tourist destinations. He pointed out that these challenges, from the […]

There was increased interest in organised trips from Poland to the Famagusta district during a roadshow in Poland by the Famagusta Tourism Board (Etap) and hoteliers of the district.  The Roadshow organised by the deputy ministry of tourism, between April 8 and 10 visited Warsaw, Krakow, and Katowice. During these sessions, Etap Famagusta engaged with leading Polish tour […]

Members of the recently elected Board of the Cyprus Investment Funds Association (CIFA) met with the President, George Theocharides, the Vice President, George Karatzias, and key executives from the Cyprus Securities and Exchange Commission (CySEC), marking a significant stride towards enhancing collaboration and fostering mutual objectives concerning the funds industry in Cyprus. Importantly, the discussions […]

Commerce minister Giorgos Papanastasiou and the Republic’s Chief Scientist for Research, Innovation, and Technology, Demetris Skourides, were recently in Japan to promote Cyprus as a base for international business and as an emerging tech centre.  This was part of the government’s drive to woo Japanese investors and business leaders, by promoting Cyprus’ ambitious future vision, […]

Motor vehicle sales rose by 26% year on year in the first three months of 2023, totaling 12,827 compared with 10,193 in the respective period of last year. Data published by Cystat, show that saloon cars’ sales rose by 23.3% reaching 10,189 for the period of January – March 2024, compared with 8,264 in the […]

Ministry of Agriculture Permanent Secretary, Andreas Gregoriou, attended an informal meeting of EU Agriculture Ministers, in Belgium, held under the Belgian presidency of the Council of the EU. He spoke of the importance of a holistic approach in protein production and consumption, as well as of the necessity for food security, through the employment of production […]

The government’s discussions with Chevron are progressing well, stated President Christodoulides yesterday, expressing hope for announcements soon. Speaking at the 14th Economic Congress of Nicosia, he also mentioned that in the coming days, the CEO of ENI, Claudio Descalzi, is expected in Cyprus to present the development plan for the licensed fields. A priority for […]

Minister of Agriculture, Maria Panayiotou, praised the economic value of the wine industry and revealed plans for global promotion through international events and financial support. She highlighted the government’s commitment to supporting the wine sector, emphasizing its potential to drive the country’s economic development. This sentiment was expressed during her speech at the 11th Cypriot […]

The Deputy Ministry of Shipping will participate in the ‘Sea Japan’ international shipping exhibition in Tokyo, from April 10 to 12. In an announcement, it said that ‘Sea Japan’, an international maritime exhibition, which is held every two years, has established itself among the most important such exhibitions in Asia. The exhibition, first held in 1994, […]

The Cyprus Statistical Service (Cystat) has released a report ‘Registration of Motor Vehicles’ for January-March 2024, highlighting a market where electric and hybrid cars, along with motor coaches, buses, and cargo-carrying vehicles are on the rise, while petrol and diesel cars, rental cars, and passenger saloon cars are experiencing a decline. In March 2024, the total registrations of motor vehicles slightly […]

Banking and FinanceBusinessCyprusCyprus Business News Keravnos targets enrichment of economic model By Souzana PsaraApril 9, 20240 Comments76SHARE0 The enrichment of Cyprus’ economic model is of vital importance, said the finance minister, Makis Keravnos, stressing that “the bet is to maintain the investment level” which was objective of the government’s economic policy.  Speaking at the 14th Nicosia […]