The Deputy Ministry of Tourism this week announced the launch of the second round of its grant scheme for the revival of rural, mountainous, and remote areas. The scheme is aimed at enhancing and upgrading Cyprus’ tourism product through the creation of authentic experiences. The announcement also said that the scheme follows a relevant decision by the Council of Ministers.Interested […]
Administrative, support and real estate services in Cyprus performed well during the second quarter of 2024, according to the latest services turnover value index report. Specifically, according to the Cyprus Statistical Service (Cystat), administrative and support service activities saw an increase of 11.3 per cent compared to the same period in 2023. Real estate activities […]
Paphos mayor Phedonas Phedonos on Wednesday hailed the opening of the American University of Beirut’s new campus in his town, describing it as “one of the most important projects” Paphos has undertaken in its history. “This university has charted a course for almost 160 years in our neighbouring country, Lebanon. Without any doubt, the American University […]
The Retail Trade Turnover Value Index in Cyprus increased by 3.4% in July this year compared to the same month in the previous year, according to data released by CySTAT. During the same period, the Retail Trade Turnover Volume Index also recorded a rise of 1.2% year-on-year. For the period from January to July 2024, […]
Cyprus saw an increase in the sales of petroleum products during July, which totalled 134,484 tonnes, marking a 4.6 per cent increase compared to July 2023. According to a report released on Tuesday by the Cyprus Statistical Service (Cystat), there was a rise in the sales of marine gasoil, which jumped by 11.9 per cent. […]
Globeducate, one of the world’s leading K12 education groups, this week announced the acquisition of Cypriot educational group Olympion. This notable group of private Greek schools, situated near Nicosia, educates nearly 450 pupils aged 6 to 18 across Gymnasium, Lyceum, and, starting in September 2024, elementary stages. The acquisition strengthens Globeducate’s presence in Cyprus and […]
Cypriot startup Placy has secured €1 million in pre-seed funding, according to an announcement released on Tuesday. The company provides an AI-powered virtual companion that aims to reshape how real estate is bought and sold. Placy was created to take on a number of routine tasks, including valuations, research, scheduling viewings, and drafting agreements, among others. This […]
Saudi Arabian Transport Minister, Saleh Bin Nasser Al-Jasser, on Monday visited DP World Limassol’s general cargo and cruise terminal, where he discussed avenues for further cooperation in areas of mutual interest. Cyprus Transport Minister Alexis Vafeades, along with Deputy Minister of Shipping Marina Hadjimanolis, provided a tour of the Limassol port and passenger terminal. They […]
Cyprus on Monday became the first country to announce the name of its entry into the 2025 Eurovision song contest, with Theo Evan set to represent the island in Basel. Theo Evan is the stage name of Nicosia-born singer Evangelos Theodorou. Theodorou went to the English School, where he sang in the school choir, before moving […]
Cyprus recorded a significant fiscal surplus of 702.5 million euros for the period of January to July 2024, according to provisional general government fiscal results, released on Friday by the Statistical Service of Cyprus This figure represents 2.2% of the country’s gross domestic product and marks a substantial increase from the €345.9 million surplus (1.2% […]
The economic growth rate for the second quarter of 2024 is positive, estimated at 3.6% compared to the same quarter in 2023. According to the Statistical Service, after adjusting the GDP for seasonal fluctuations and working days, the growth rate is calculated at 3.7%. Regarding the production approach for calculating GDP, the positive growth rate is […]
The Republic of Cyprus is evaluating the updated development and production plan for the ‘Aphrodite’ gas field, which is moving in the right direction, according to President Nikos Christodoulides, who responded to journalists’ queries in Limassol. He stated that a specific proposal has been made and is being assessed by the relevant department. “It is […]
Saudi Arabian Transport Minister, Saleh Bin Nasser Al-Jasser, on Monday visited DP World Limassol’s general cargo and cruise terminal, where he discussed avenues for further cooperation in areas of mutual interest. Cyprus Transport Minister Alexis Vafeades, along with Deputy Minister of Shipping Marina Hadjimanolis, provided a tour of the Limassol port and passenger terminal. They also engaged in discussions […]
The Cypriot economy grew by 3.6 per cent in the second quarter of 2024, compared to the same period in 2023, according to a report released this week by the Cyprus Statistical Service (Cystat). The service also noted that the construction sector was a key economic driver, witnessing growth of 10.4 per cent during this time. Specifically, […]
The Bank of Cyprus completed approximately 41 per cent of its maximum share buyback programme value by the end of August, according to an announcement by the bank. The announcement noted that as of August 31, 2024, the total issued share capital of the bank amounted to 443,894,907 ordinary shares with a nominal value of €0.10 each, with each ordinary share carrying […]
Cyprus’ retail sector experienced growth in July, according to a report released on Monday by the Cyprus Statistical Service (Cystat). According to the report, the retail trade turnover value index rose by 3.4 per cent compared to July 2023, while the volume index increased by 1.2 per cent over the same period. For the period from January to July […]