Deputy Minister of Shipping, Marina Hadjimanolis has highlighted the importance of the  increase of Cyprus fleet by 18% from September 2023 to date. She was speaking during a recent dinner she hosted in Athens, to mark the second anniversary since Nikos Christodoulides’ government assumed office. According to a press release issued by the Deputy Ministry of Shipping, Hadjimanolis, paid a visit to […]

The Industrial Production Index reached 103.9 units (base 2021=100) in January 2025, recording an increase of 4.3% compared to January 2024, CySTAT data show. In particular, the manufacturing sector registered an increase of 3.7% compared to January 2024, while an increase was also observed in the sectors of mining and quarrying (+16.8%), water supply and materials recovery […]

A significant increase of 51.5% was recorded in February 2025 for poultry eggs for hatching placed in incubation for egg production, compared to February 2024, reaching 90,360, according to data released by CySTAT. Additionally, hatching eggs of poultry hens placed in incubation for meat production amounted to 1,351,500 in February 2025, marking a 13% decrease compared to […]

President Nikos Christodoulides announced on Monday that the Cabinet has approved an Easter allowance of 250 euros for low-income pensioners, reflecting a 30% increase from last year’s payment. Speaking at the Presidential Palace during a cabinet meeting, Christodoulides highlighted that the decision would benefit “more than 11,000 low-income pensioners” across the country. “I would like to […]

The Crystal Springs Beach Hotel in Protaras is set to undergo an expansion, with Derova Ltd announcing a €13.5 million development project to improve the facility and increase its capacity. This proposed plan will be implemented over the next 12 months on a 14,858 square metres plot in the Vrysoudia area of Paralimni municipality. The expansion, which is contingent upon an […]

SOFTSWISS, a leading international technology company specialising in iGaming software development, is set to participate in this year’s Reflect Festival as a Bronze Sponsor. The festival, scheduled to take place on May 15–16 in Limassol, is one of the premier technology events in the region, bringing together top innovators and entrepreneurs. As part of its […]

Larnaca Mayor Andreas Vyras inspected ongoing urban regeneration works in the city centre on Wednesday, accompanied by representatives from local business associations, to address concerns about the project’s impact on the area. The first phase of the redevelopment project, which includes the renovation of streets and squares, is at an advanced stage with utility services now underground, the municipality said […]

President Nikos Christodoulides has defended his government’s economic policies and dismissed opposition criticism of public sector hiring as he prepares for a trip to the United States aimed at boosting investment. Speaking to reporters in Voroklini on Saturday, Christodoulides outlined his upcoming visit to New York, Texas, and San Francisco, starting on Wednesday. “This visit […]

Prestigious Annual Awards Program Recognizes Standout Financial Technology Products & Companies Around the World Libertex, part of the Libertex Group and one of the leading online brokers, today announced that it has been selected as winner of the “Best Online Trading Platform” award in the 9th annual FinTech Breakthrough Awards program conducted by FinTech Breakthrough, an independent market intelligence organization […]

Cyprus’ Deputy Ministry of Shipping on Friday announced the launch of the second Gender Equality Award in Cypriot Shipping for 2025. This follows a decision by the Cabinet to establish the initiative as an annual institution. “The award is presented annually by the Deputy Minister of Shipping, on behalf of the president of the Republic of Cyprus, during […]

The Finance Ministry has welcomed the observations and recommendations made by the International Monetary Fund (IMF) during its mission to Cyprus as part of the Article IV consultations. In a statement released on Friday, the ministry expressed agreement with the IMF’s assessment that the Cypriot economy has demonstrated resilience in the face of successive shocks and that fiscal indicators remain strong […]

Cyprus has shown resilience in the face of successive economic shocks, with growth remaining among the highest in the euro area, according to the International Monetary Fund (IMF). In a statement released on Friday, at the conclusion of an IMF mission to Cyprus from March 17 to 28, mission chief Alex Pienkowski highlighted key economic […]

Here are the top business stories in Cyprus from the week starting March 24: The Cyprus Borrowers Association (Syprodat) released a statement on Monday saying that despite recent interest rate cuts by the European Central Bank (ECB), many borrowers have not noticed a decrease in their monthly loan repayments. According to the association, this can […]

The importance of contract management in Public-Private Partnerships (PPPs) was highlighted by Edward Farquharson, Senior Adviser of the European Investment Bank (EIB), emphasising that the success of such collaborations depends largely on the quality of the contract and its proper implementation. Farquharson, speaking on the second day the international summit ‘Unlocking Investment Through PPP ‘, […]

The proposed Mall of Limassol is poised to create a premier destination for shopping, dining and entertainment in Limassol. As the project advances through important planning and approval phases, we spoke to Polys Tsiartziazis, onsite Development Manager for the proposed Mall of Limassol, about the latest milestones and the exciting potential this development holds for […]