The total sales of petroleum products in Cyprus reached 115,421 tons in February, marking a 7.1 per cent increase compared to February 2023, according to a report released on Wednesday by the Cyprus Statistical Service (Cystat). According to the report, there was a rise in the supply of oil to ships (48.2 per cent) and aircraft (8.7per […]

Central Bank of Cyprus (CBC) governor Constantinos Herodotou on Thursday utilised the second educational video by the CBC to emphasise the vital importance of digital financial literacy in today’s digital age. According to the CBC, these videos are integral to a larger initiative aimed at improving financial literacy throughout Cyprus, with a particular focus on educating the youth. […]

President Nikos Christodoulides on Thursday met with the advisory committee on tax reform, asking that progress on this matter be accelerated, in order to reap any benefits at the earliest opportunity. The meeting, which took place at the Presidential Palace in Nicosia, also involved Finance Minister Makis Keravnos, and allowed the president to be briefed on the progress recorded […]

The Ministry of Finance has welcomed the European Commission’s In-Depth Review on the Cypriot economy, stating that its results show the government’s “sound economic policy and the efforts exerted to correct the economy’s macroeconomic imbalances.” “The government’s concern is the implementation of policies which would safeguard further correction of imbalances and the strengthening of the […]

The Council of Ministers is convening for an extraordinary session on 28 March to approve a new package of targeted measures to alleviate pressures from price hikes. According to CNA sources, the government will not renew the zero excise tax on fuels which expires at the end of March, but will renew the scaled state […]

From tragic to comic, leading ballet dancers will play them all. SARA DOUEDARI meets the Principal Dancer of the Vienna State Ballet, who has journeyed from an island more often celebrated for its historical sites than its ballet traditions Born in Nicosia, a place where ballet opportunities are limited, Ioanna Avraam’s rise to the top […]

Cyprus is an important destination for investments from Estonia and there are many areas of cooperation between Estonian and Cypriot companies, said President of Estonia Alar Karis. On the first day of a three-day official visit to Cyprus, he was addressing a 27 March business forum organised by the Cyprus Chamber of Commerce and Industry […]

A lavish and contemporary villa in Cyprus that sits right on sparkling waters of the Mediterranean Sea has hit the market for €3.19 million (US$3.45 million).  Villa 82, as it’s known, is set in a private gated community within the island’s Paphos district alongside one of the top beaches in the region, according to the […]

Canadian credit rating agency DBRS Morningstar has affirmed the Republic of Cyprus’ long-term ratings, maintaining it at BBB (high) with a stable economic outlook. Amid global uncertainties, DBRS cited risks such as the Ukraine conflict and trade disruptions in the Red Sea, which could impact Cyprus’ fiscal outlook. Downgrade possibilities loom if sovereign debt worsens […]

Cyprus’ main exports for 2023 included mineral fuels and oils, halloumi and pharmaceutical products, according to CySTAT. In an infographic published on 26 March, CySTAT shows that Cyprus exported €508.39 million of domestically produced goods to EU countries and another €1.84 billion to third countries. The main products that Cyprus exported to EU countries were pharmaceuticals at […]

Cyprus took part in the International Food and Drink Event (IFE) this week, promoting a number of products at the three-day international food and beverage event, that opened its doors on Monday at the ExCel exhibition centre in London. According to a statement released on Tuesday, the Ministry of Energy, Commerce, and Industry, in collaboration with the […]

The Chartered Financial Analyst (CFA) Society Cyprus recently held an educational interactive day focused on private equity and investment funds. The event involved the presence of members of the association, along with high-ranking executives of auditing and consulting firms. According to an announcement by the CFA Society Cypruts, the topic of the seminar was presented by Steve Balaban, […]

The Finance Ministry on Wednesday released a statement welcoming the outcomes of the European Commission’s recent in-depth review, highlighting that they “demonstrate the government’s sound economic policies and efforts to address the macroeconomic imbalances facing the Cypriot economy”. The European Commission’s report, released earlier this week, noted that Cyprus’ economy is on a healthy trajectory, expecting both GDP to grow and […]

Deputy Minister of Tourism Kostas Koumis this week said that “a sustainable destination is one that respects both its visitors and its own resources, both natural and human”. Koumis’ comment came during his participation at the annual tourism conference organised by the Association of Cyprus Tourist Enterprises (Stek). This year’s event, held in Nicosia, revolved around the […]

International rating agency Morningstar DBRS has confirmed Cyprus’ BBB (high) long-term credit rating with a stable trend, noting that favourable economic prospects balance downside risks. “The Stable trend balances favourable economic and fiscal developments against important downside risks,” the agency said in a press release on 23 March. According to the Canada-based agency, Cyprus has […]

Cyprus’ main exports for 2023 included mineral fuels and oil, halloumi and pharmaceutical products, according to the Cyprus Statistical Service (CyStat). In an infographic published on Tuesday, CyStat shows that Cyprus exported 508.39 million euros of domestically produced goods to EU countries and another €1.84 billion to third countries. The main products that Cyprus exported […]