Half of Cyprus’ hotels are open this festive season, offering special programmes for Christmas and New Year, according to Thanos Michaelides, president of the Cyprus Hoteliers Association (Pasyxe). Speaking to the Cyprus News Agency (CNA), Michaelides siad that operating levels are consistent with last year. “Most of the open hotels”, he said, “are in Larnaca […]
The Paralimni-Deryneia Municipality has joined forces with the Cyprus Sustainable Tourism Initiative (CSTI) to promote sustainable practices in the tourism sector. According to an announcement released this week, this partnership aims to “enhance environmental awareness, protect natural resources, and boost sustainable development in the region”. “The collaboration forms part of efforts to strengthen sustainability within […]
The Cyprus Stock Exchange (CSE) announced on Wednesday the introduction of a market maker framework. The new framework, the CSE explained, aims at “enhancing the liquidity of listed securities and fostering a more competitive and flexible stock market”. In addition, this move is part of the CSE’s broader strategy for modernising its operations and aligning […]
The Cyprus Securities and Exchange Commission (CySEC) has rolled out a revamped website aimed at improving navigation, accessibility, and features for regulated entities, investors, and the wider public. “The redesigned website marks the first phase of our efforts to improve the user experience and provide enhanced user-friendly navigation and functionality for regulated entities, investors and […]
The Asian Development Bank (ADB) said on Tuesday that it will invest $403 million in Cambodia in 2024. “This year marks a significant milestone in our partnership with Cambodia, with the approval of $403 million in loans and grants under the framework of our new country partnership strategy for 2024-2028,” ADB Country Director for Cambodia […]
Tourist arrivals reached 3,907,137 for the period of January – November 2024, compared to 3,722,022 in the same period of 2023, recording an increase of 5%. The number of tourists for the first eleven months of 2024 surpassed the total number of tourist arrivals for 2023, when they reached 3,845,652. Τhe arrivals of tourists reached […]
Tourist arrivals in Cyprus reached 3,907,137 for the period of January-November 2024, compared to 3,722,022 in the same period of 2023, recording an increase of 5%. In the first 11 months of 2024, the number of tourists surpassed the total number of tourism arrivals for 2023, when they reached 3,845,652.
Limassol port manager DP World Limassol on Tuesday announced that it has secured a major vehicle transhipment deal, describing it as “a significant milestone” for the multipurpose terminal. “This is the first agreement of its kind in nearly two decades, heralding new opportunities for local and regional markets,” the company said. Under the agreement, approximately […]
Invest Cyprus on Monday announced the launch of a series of strategic meetings with regional and local authorities aimed at mapping and promoting investment projects that are open to foreign investors. According to the announcement, this initiative seeks to enhance collaboration between local government and the organisation to position Cyprus as a prime destination for […]
A new record high number of passengers passing through the Republic of Cyprus’ airports has been set this year, with it projected that more than 12 million people will have taken off or landed at Larnaca and Paphos by the end of the year. The two airports’ holding company Hermes airports’ senior director Maria Kouroupi […]
The €170 million expansion plans for Larnaca and Paphos airports are now open for public consultation, with feedback invited until January 15, 2025. Hermes Airports, the operator under a long-term concession agreement, said that it seeks to modernise facilities, address increasing passenger traffic, and bolster Cyprus’ standing as a key regional aviation hub. The second phase of expansion of Larnaca International Airport, with a budget of €95 […]
About 48% of new registrations of passenger cars in Cyprus were electric and, mainly, hybrid cars in 2023, in line with the EU average and reflecting the development of this market in the country despite the overall low percentage of usage of electric cars. More specifically, and according to data released by Eurostat, in 2023, […]
Hellenic Bank on Monday announced a reduction in its reference rate for loans linked to the European Central Bank’s (ECB) base rate. Effective from December 18, 2024, the rate will decrease by 0.25 percentage points, moving from 3.40 per cent to 3.15 per cent. “This reduction will also affect loans tied to Euribor interbank rates, […]
The Commissioner of State Aid Control Stella Michaelidou on Monday approved a €3 million grant scheme to boost rural tourism. Specifically, the scheme seeks to provide support for the renovation or enhancement of hotels and tourist accommodations in rural, mountainous, and remote areas. The scheme, originally announced on December 6, will be implemented by the Deputy Ministry of Tourism. Titled […]
Capital Intelligence Ratings has upgraded Hellenic Bank’s foreign currency long-term rating to “BBB-” from “BB”, citing significant improvements in financial stability and capitalisation. This took place on the same day when S&P Global Ratings upgraded Cyprus’ long-term credit rating to “A-” from “BBB+” with a stable outlook. Regarding Hellenic Bank, the agency also upgraded its […]
CyRIC and bialoom, two Cypriot organisations, are contributing to the PhotonMed project, a major initiative in healthcare innovation, according to an official announcement. PhotonMed is a €32 million international project aimed at revolutionising medical diagnostics and therapeutic tools using photonics technology. This initiative, coordinated by Finland’s VTT, brings together 39 partners across nine countries and […]