A recently held property conference held in Larnaca expressed great confidence about the city’s real estate prospects, while also providing assurances that the redevelopment of the port and marina will be pursued at all costs. The event, titled ‘Property Show Larnaka 2024’, gathered a large number of property sector professionals and other stakeholders interested in […]
The acquisition of CNP’s insurance operations in Cyprus and Greece is expected to lead to increased and more varied revenue streams for Hellenic Bank, according to a report released this week by international rating agency Fitch. Hellenic Bank has entered into exclusive negotiations and has signed a put option agreement with CNP Assurances for the acquisition of its […]
Limassol port has seen a substantial rise in wheeled cargo traffic since DP World Limassol (DPWL) took over its operation, processing around 60,000 multipurpose Ro-Ro units (Roll-on, Roll-off) in 2023 alone, according to an announcement by the port management company released on Thursday. The announcement pointed out that this number represents a nearly 75 per cent increase in volume since […]
Cyprus’ retail sector experienced a significant upturn in March 2024, according to a report from the Cyprus Statistical Service (Cystat) released on Thursday. The report disclosed a 5.5 per cent increase in the retail trade turnover value index compared to March of the preceding year, while the retail trade turnover volume index saw a rise of 5.2 […]
ENI’s discoveries in Cyprus’ Exclusive Economic Zone (EEZ) and the scenarios for the exploitation of the confirmed drillings as well as the preferred solutions to efficiently meet domestic energy priorities were discussed in a meeting the President of the Republic, Nikos Christodoulides, and ENI’s CEO Claudio Descalzi. The meeting was held at the Presidential Palaceon […]
The significant contribution of sports tourism to the tourism economy of the country is confirmed, Deputy Minister of Tourism Kostas Koumis has said. He was speaking to CNA on 1 May, explaining that this year there had been a record number of participants in the Ayia Napa Youth Soccer Festival football tournament. In his statement to […]
“Given the importance of finance in modern society, tackling this challenge is a high priority for CySEC,” Elena Karkoti, Officer A at CySEC’s Department of Strategy, International Relations and Communications notes. Speaking to CBN, the Officer in charge of the financial education of the public at the Cyprus Securities and Exchange Commission, among other things, […]
The robust cash buffers of the Republic of Cyprus are expected to support the government in tackling uncertainty observed in the global economy, the Finance Ministry’s Public Debt Management Office (PDMO) has said. In its annual report for 2023, the PDMO said the government’s cash reserves at end-2023 amounted to almost €2.83 billion (deposited at […]
An event will be held during the AIM Congress 2024 in Abu Dhabi next week to highlight the potential investment opportunities on offer in Cyprus to a crowd of affluent investors. In an open invitation, the Ambassador of the Republic of Cyprus to the United Arab Emirates, Meropi Christofi, extended an invitation to potential investors […]
Economic sentiment in Cyprus improved in April after two months of deterioration, as the Economic Sentiment Indicator (ESI-CypERC) increased by 0.8 points compared with March. According to the Economic Research Center of the University of Cyprus (CypERC) the increase in the ESI-CypERC was driven by gains in business confidence in all sectors. The Services Confidence […]
ENI’s discoveries in Cyprus’ exclusive economic zone (EEZ) and the scenarios for the utilization of the confirmed drillings as well as the preferred solutions to efficiently meet domestic energy priorities were discussed in a meeting of the president of the republic, Nikos Christodoulides, with ENI’s Chief Executive Officer Claudio Descalzi on Tuesday in the presence […]
Cyprus residents’ spending on travel abroad reached €1.39 billion in 2022, marking a significant bounce-back year for travel compared to 2021, when pandemic restrictions were still heavily impacting global mobility. According to data released on Tuesday by the Cyprus Statistical Service (Cystat), a total of 158,294 residents embarked on international trips for personal reasons in 2022. This figure represents […]
The Public Debt Management Office (PDMO) released its annual report for 2023 on Tuesday, stating that the robust cash reserves of the Republic of Cyprus are expected to support the government in tackling the uncertainty observed in the global economy. According to the report, the reserve of liquid assets at the end of 2023 amounted to nearly €2.83 billion […]
Agriculture Minister Maria Panayiotou called for an increase in the de minimis threshold regarding state aid in agriculture to €50,000 per single enterprise during the EU Agriculture and Fisheries Council, which was held in Luxembourg on Monday. It should be noted that this move supported an initiative by Germany, along with 13 other Member States. […]
The Industrial Production Index in Cyprus experienced an increase of 6.7 per cent year-on-year in February, reaching 103.4 points, with 2021 acting as the base year with a value of 100 units, according to a report released this week by the Cyprus Statistical Service. Focusing on sectoral performance, the manufacturing sector experienced a growth of 6.9 per […]
Cyprus Stock Exchange senior officer Eliza Stasopoulou recently released a piece of analysis underlining how important it is for companies to implement corporate governance and social responsibility policies. She noted that this sector has been under constant scrutiny and discussion at various conferences across Europe and globally in recent years. This ongoing examination aims to enhance and evolve […]