Cyprus recorded a budget surplus of €619.1 million in the first quarter of 2025, according to preliminary fiscal data released on Monday by the Cyprus Statistical Service (Cystat). This marks an increase from the surplus of €575.70m reported during the same period in 2024. Total revenue rose by €231.20m or 6.8 per cent, reaching €3.64 billion in the January to March […]

CBC projects further debt drop to 57 per cent of GDP in 2025 The Cypriot economy continues to demonstrate significant resilience and adaptability despite ongoing global uncertainty, according to Central Bank of Cyprus (CBC) governor Christodoulos Patsalides. In its June 2025 economic bulletin, the CBC revised its forecast for the country’s growth rate in 2025 to 3.1 per […]

Beijing, China – China confirmed that top leaders from the European Union will visit on Thursday for a summit, as the two major trading partners seek to smooth over a series of trade disputes. “As agreed between China and the EU, President of the European Council Antonio Costa and President of the European Commission Ursula von der […]

Here are the top business stories in Cyprus from the week starting July 14: The finance ministry has “absolutely refused” to pay any money to Greece’s independent transmission system operator (Admie) for the Great Sea Interconnector project, on account of the fact that the project is “frozen”, according to reports on Friday. News website Brief […]

By Michael Ierides, Secretary General of CYMEPA Shipping is undergoing a historic transition toward a cleaner, more sustainable future. Decarbonization of the sector is now a global priority—and Cyprus is not a passive observer but an active participant in this change. The METAVASEA project, funded by the Lloyd’s Register Foundation, aims to build a practical […]

Cyprus recorded 1.843 million tourist arrivals in the first six months of 2025, marking an 11.5% increase from 1.652 million in the corresponding period of 2024, according to data released by the Statistical Service. June arrivals reached 498,527, representing a 3.4% annual increase. The United Kingdom remained the top source market with 181,610 visitors accounting for 36.4% of […]

Wizz Air has announced the launch of direct flights from Paphos to Warsaw Modlin Airport, expanding its growing network in Cyprus. The new route will begin on 2 December 2025, timed for the festive season, allowing passengers to travel directly from Paphos to Poland’s capital region. Tickets are available for booking at wizzair.com and on the […]

A new beach is to be created in the heart of Limassol, the city’s mayor Yiannis Armeftis said on Friday. Speaking to newspaper Phileleftheros, he confirmed that the area, which is located between the shipyard and the city’s marina, west of the city’s centre in an area that was previously off-limits to the public, has already been […]

Cyprus’ working life expectancy has climbed to 39 years, placing the island well above the EU average of 37.2 years in 2024, according to Eurostat data released on Friday. The figure reflects the expected average duration of working life for people aged 15 and over. Eurostat reported that men in Cyprus are expected to spend 41.6 years in […]

Brussels, Belgium – The digital travel permit for foreigners to enter the European Union should cost 20 euros ($23), almost triple the original planned fee, under a proposal published Friday. The adjustment to the yet-to-be implemented ETIAS scheme for visa-exempt nationals comes as the European Commission seeks to boost its financial resources to fund an array of […]

The Larnaca tourism board (Etap), in collaboration with local authorities and with the support of the Deputy Ministry of Tourism, is pressing ahead with a series of targeted interventions to showcase the authentic character of Larnaca’s communities and enhance the region’s appeal. According to Etap, these initiatives form part of a wider action plan for the gradual aesthetic […]

Cyprus has emerged as a key growth market for major Greek IT groups, which are steadily expanding their presence on the island while boosting their international reach across Europe. From subsidiaries and acquisitions to strategic partnerships, more than a dozen Greek companies are now active in Cyprus, tapping into its revenue opportunities and favourable business environment. According to […]

President of the hoteliers association (Pasyxe) Thanos Michaelides on Friday said hotel occupancy in July ranges between 80 and 85 per cent, stating that the flow of reservations is normal for this time of year. “We are at the peak of the summer season,” Michaelides told to the Cyprus News Agency (CNA), explaining that July and August […]

EU proposes $2.33 trillion budget BRUSSELS – The European Commission on Wednesday proposed a two-trillion-euro ($2.33 trillion) budget for 2028-2034 for the European Union (EU). The budget proposal would raise EU spending to an average of 1.26% of the bloc’s gross national income, up from around 1.1% during the current 2021-2027 cycle. European Commission President Ursula […]

Cyprus’ Harmonised Index of Consumer Prices (HICP) rose by 0.5% year-on-year in June 2025, according to data released by Cystat. On a monthly basis, the index increased by 0.4% compared with May. The largest annual price increases compared to June 2024 were recorded in Recreation and Culture (7.5%) and Restaurants and Hotels (5.5%), while Clothing […]

The cost of transitioning to a net-zero emissions economy in Cyprus depends heavily on the chosen policy mix, particularly regarding how carbon tax revenues are used, according to research conducted by the Finance Ministry in collaboration with the University of Cyprus’ Economics Research Centre (CypERC). The findings of this research were published in a European Commission study aimed […]