The United Arab Emirates (UAE) tourist market for Cyprus is steadily on the rise, according to Deputy Minister of Tourism Kostas Koumis, who stressed the need for increased attention to Middle Eastern and Asian countries. Speaking following the conclusion of meetings at both the Arabian Travel Market tourism exhibition and the AIM Congress, Koumis stated that discussions during […]

Cyprus’ Gross Domestic Product (GDP) is projected to rise by 2.9 per cent in 2024, according to the latest estimates released on Thursday by the Finance Ministry, which are valid up to April of this year. Furthermore, for the years 2025 to 2027, GDP is expected to grow further, with rates of 3.1 per cent, 3.2 […]

Deloitte this week has released the results of the third edition of the Middle East Technology Fast 50, which showcases the fastest-growing technology startups in the region. This programme recognises technology companies based on their revenue growth over the last four years. In this edition of the Technology Fast 50, Deloitte received close to 200 applications […]

The Cyprus Chamber of Commerce & Industry (Keve) on Thursday announced that it is set to take part in this year’s Reflect Festival, the island’s flagship technology, innovation and startup event. In its announcement, the chamber said that “Reflect Festival is the largest technology and innovation event in Cyprus and one of the fastest growing […]

Cyprus’ real estate market experienced a notable resurgence in April, rebounding from the previous dip in sales observed in March, according to the latest information provided by the Department of Lands and Surveys. This positive trend was particularly evident in Nicosia and Larnaca, while Limassol also demonstrated an upward movement, maintaining its lead by a significant […]

President Nikos Christodoulides stated that the construction sector, supported by the Cyprus Property Developers Association (LBDA), plays a vital role in attracting investments, promoting entrepreneurship, and positioning Cyprus as an investment destination. Speaking at a dinner held on Wednesday evening, marking the 40th anniversary of the establishment of the LBDA, the president emphasised the government’s […]

The Great Britain-Cyprus Business Association’s International Investment Conference 2024 kicked off in Limassol today, with the aim of enhancing business networking between the two countries. During the event, which will conclude on Friday, the Deputy Minister of Shipping, Marina Hadjimanoli emphasised the administration’s renewed commitment to sustaining support for the shipping industry. Hadjimanoli acknowledged the challenges […]

GDP growth will be at 2.9% in 2024, according to the April projections published on the website of the Ministry of Finance. For the years 2025-2027, GDP is expected to grow further by 3.1%, 3.2% and 3.3% respectively. As for inflation, the Ministry of Finance projects that it will fall to 2.5% in 2024, while for […]

Invest Cyprus CEO Marios Tannousis along with Deputy Minister of Tourism Kostas Koumis and his team presented Cyprus’ advantages as an investment and business destination at the Annual Investment Meeting – aka the AIM Congress – 2024 that was held in Abu Dhabi this week. “Delighted to present today and participate in important business meetings […]

The Finance Ministers of Greece and Cyprus Kostis Hatzidakis and Makis Keravnos respectively expressed their joint commitment to continue collaboration between the two countries in all fields, stressing that both economies have exited from the financial crisis of the previous decade. The Greek Minister for Economy and Finance, who is visiting Cyprus, had an 8 […]

Group CFO praises Cyprus as “dynamic and thriving tech hub” Cyprus-headquartered Capital.com, a global trading platform and fintech group, this week announced that total client trading volumes exceeded $1.2 trillion in 2023. According to a statement by the company, this represents a rise of 53 per cent from a year earlier and marks the first time […]

The Research and Innovation Foundation (Idek) on Wednesday released a statement disclosing the list of 61 companies where students will have the opportunity to apply for internships, lasting six weeks, between June 3, 2024, and September 30, 2024. The list includes information about the companies, the period during which each company can employ students, and the minimum required qualifications. According […]

The Cyprus Real Estate Agents Registration Council on Wednesday released a breakdown of property transactions and average values during the first quarter of 2024, according to property type, across all districts. The council said that the analysis of comparative sales data, which are provided by the Department of Lands and Surveys, “offers significant insights into the […]

A total of 11 new subsidy scheme projects amounting to €148 million are anticipated to be implemented by the Ministry of Energy, Commerce and Industry for the period 2024 – 2025. Also, in the assessment of the Ministry’s activities during the first year of Nikos Christodoulides’ presidency, the competent minister, George Papanastasiou, referred to the […]

The value of Cypriot sovereign bonds held by the Eurosystem by end-April remained unchanged at €6.76 billion, as the European Central Bank continues deleveraging its balance sheet in the context of its restrictive monetary policy cycle in a bid to reduce inflation. According to Eurosystem available data by end April processed by CNA, the value […]

Deputy Minister of Research Nicodemos Damianou recently addressed two investment incentives launched at the Deputy Ministry of Research, Innovation and Digital Policy, acknowledging that there is room for improvement. These initiatives include a tax exemption for innovative businesses and a startup visa scheme, amidst ambitions to attract investment and nurture the startup ecosystem. The first […]