The preliminary general government fiscal results, which are prepared by the Statistical Service of Cyprus (CyStat), indicate a surplus of 551.2 million euros (1.6% of GDP) for the period of January-May 2025, compared to a surplus of €542.6 million (1.6% of GDP) that was recorded during the period of January-May 2024.
Despite the ongoing unrest in the Middle East, Cyprus’ tourism sector is proving both vulnerable and resilient, as a surge in advance bookings acts as a safety net for hoteliers and travel operators. According to industry officials, while the Israel-Iran conflict has caused a slight slowdown in bookings, particularly from Israel and some European markets, […]
Cyprus saw a sharp rise in the registration of saloon passenger cars in May 2025, with the figure reaching 3,715, up 11.7 per cent compared with May 2024. This was also notably higher than April’s 2,924 units, according to data published by the Cyprus Statistical Service (Cystat). During the first five months of 2025, registrations […]
Surplus climbs despite rising spending across key sectors Cyprus posted a general government surplus of €551.2 million for the period of January to May 2025, representing 1.6 per cent of GDP, according to preliminary data released by the Statistical Service of Cyprus (Cystat) on Monday. This marks a slight increase from the €542.6m surplus recorded during the same period […]
The Cyprus Stock Exchange (CSE) on Monday released a statement formally welcoming Eurobank Group’s intention to pursue a dual listing of its shares on the CSE. The CSE described the move as a sign of trust in both the Cypriot economy and the island’s capital markets. “We at the Cyprus Stock Exchange (CSE) welcome the Eurobank Group’s intention for a dual […]
Cyprus meets 23 milestones to unlock next round of EU funds The European Commission on Monday endorsed a positive preliminary assessment of Cyprus’ fourth payment request under the Recovery and Resilience Facility (RRF), the central pillar of the European Union’s NextGenerationEU recovery programme. The request, valued at €75.9 million, was submitted by Cyprus on December 18, 2024. Following its […]
The Air Traffic Control Service in Cyprus is tasked with managing approximately 420,000 flights per year. In recent days, increased pressure was noted, with an additional 500 flights daily due to unrest in the Middle East. Revenue from these services amounts to around €58 million annually. How are these services managed, and how does the […]
Paphos recorded the highest number of luxury home sales exceeding €500,000 in the first quarter of 2025. Data compiled by Sotheby’s International Realty, a major real estate network with operations in Cyprus, highlights significant shifts within the island’s property sector. Anastasia Gianni, CEO of Cyprus Sotheby’s International Realty, noted that the first quarter of 2025 signifies a […]
Eurobank on Friday announced its intention to explore a parallel listing of its shares on the main market of the Cyprus Stock Exchange (CSE), following the successful completion of its acquisition of Hellenic Bank. This move marks what the bank described as “the largest foreign investment ever implemented in Cyprus”. The development comes in the […]
European Commission President Ursula von der Leyen has floated the idea of cooperating with Asia to promote rules-based free trade. She says it could serve as the basis for redesigning the World Trade Organization. Von der Leyen spoke on Thursday after a European Union summit. She referred to the Comprehensive and Progressive Agreement for Trans-Pacific […]
Nicosia’s Municipal Swimming Pool has reopened to the public after remaining closed for four years whilst undergoing renovation. The facility, commonly known as “Lellos Pool” amongst locals, suspended operations in September 2021 to allow for renovation works. The municipal pool’s reconstruction was completed in December 2023, though it has since been available only to competitive swimmers. The […]
If you’re looking for a bargain on a car, the Bank of Cyprus may have just what you need. The bank is putting a wide range of used vehicles on the auction block next week, offering something “for every taste,” according to its official announcement. The auction will take place on Tuesday, July 1, 2025, […]
On Saturday, the weather will be mostly clear, with some localized low cloud likely forming along parts of the coastline. Temperatures will reach extremely high levels, climbing to 41 degrees Celsius inland. On the coasts, highs will be around 35 degrees in the south, east and north, and 33 degrees along the west. In the higher mountain […]
The Cyprus Shipping Chamber has welcomed the implementation of the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, which officially enters into force today, 26 June 2025. The Convention represents the first global legal framework that ensures ship recycling is carried out in a safe and sustainable manner, protecting both […]
President Nikos Christodoulides has revealed that Cyprus has put forward the idea that some EU member states should undertake the initiative for the Union to examine the possibility of suspending the implementation of taxations, particularly related to the green transition or if needed cancel them, so that they do not affect EU competitiveness negatively. In a doorstep […]
Cyprus is set to have three systemic banks again after Alpha Bank Cyprus signed a final agreement on Tuesday to acquire most of AstroBank’s assets and liabilities. That followed the earlier dissolution of the Cooperative Bank and the closure of RCB Bank, which had left the island with only two systemic banks. The acquisition, valued […]