Here are the top business stories in Cyprus from the week starting June 2: Cyprus has taken a significant step in strengthening its regulatory framework for investment funds, following the House of Representatives’ approval of the Investment Fund Administrators Law. The move is being hailed by the Cyprus Investment Funds Association (CIFA) as a milestone […]
A pod of eight dolphins was spotted off the coast of Larnaca during a diving event, with underwater photographers taking the opportunity to document the experience. “A pod of eight dolphins passed beneath us and watched us, their bodies marked with scars … Two of them performed tricks for us,” Fanos Avouris, an underwater photographer, […]
Cambodia’s trade with the Regional Comprehensive Economic Partnership (RCEP) member countries reached $12.92 billion in the first four months of 2025, a 15.4 per cent increase from $11.19 billion over the same period last year, according to an official report released on Friday. The kingdom’s exports to RCEP member countries were valued at $3.61 billion […]
Municipal carparks in Paralimni and Dherynia will be free of charge over the June 7 and 8 Kataklysmos flood festival and beachgoers will also have access to free high-speed WiFi. However, Fig Tree Bay carpark will be closed over the holiday to host events from the early hours of Saturday till Monday. The Paralimni-Dherynia municipality […]
A new chapter in Paphos’ tourism development began on Friday, with the signing of a contract to create the town’s new tourism information office. The municipality of Paphos confirmed it has signed the agreement with the construction company B.K.V. Exelixis General Constructions Ltd to carry out the works on behalf of the deputy ministry of […]
The Cyprus Chamber of Commerce and Industry (Keve) has announced a new initiative aimed at equipping small and medium-sized enterprises (SMEs) with practical tools and solutions to support their transition to a more sustainable and energy-efficient future. The event, titled “Green Transition in Practice: Tools and Solutions for SMEs,” will take place on June 17, 2025, at the […]
Following a year of collaboration under a joint venture agreement, US-based TKI and Cyprus-based Hybrid ConsulTech have merged operations and will now formally operate under the unified TKI brand. The integration marks a strategy in aligning both companies’ global operations and delivering enterprise-grade AI solutions across regions. TKI, which has operated for over two decades […]
AI is making workers more valuable, productive, and able to command higher wage premiums, with job numbers rising even in roles considered most automatable, according to PwC’s 2025 Global AI Jobs Barometer, released this week. The report is based on analysis of close to a billion job ads from six continents. It finds that since […]
Cyprus participated for the first time with a national event at the World Utilities Congress 2025, held at the Abu Dhabi National Exhibition Centre. The event aimed to showcase Cyprus’ strengths in solar thermal energy, infrastructure and water management, and to expand public-private sector collaboration across the region. The country’s presence was coordinated by the Ministry of […]
Vassiliko Cement Works Public Company Ltd on Friday confirmed the approval of all resolutions presented during its annual general meeting (AGM) of shareholders held on June 5, 2025. The company operates in the clinker and cement production sectors and oversees five dedicated quarries for the extraction of raw materials used exclusively in cement manufacturing. These include […]
Employment in Cyprus recorded a 1.5 per cent increase in the first quarter of 2025 compared to the same period in 2024. According to data released by the Cyprus Statistical Service (Cystat) on Friday, total employment during this period was estimated at 497,343 people, of whom 444,635 were employees and 52,708 were self-employed. The most notable growth […]
Lending rates fall for 12,000 BoC clients The Bank of Cyprus on Friday announced a fresh reduction in its reference interest rate for loans linked to the European Central Bank’s (ECB) base rate, in direct response to the ECB’s latest monetary easing. The bank will lower its rate from 2.40 per cent to 2.15 per cent, with the change taking effect […]
Amid much pomp President Nikos Christodoulides on Thursday laid the foundation stone for a project further expanding the island’s two international airports, promising to service over 17 million passengers a year once the works are completed by 2027. Speaking at the ceremony held at Larnaca airport, the president described the project – the second phase of […]
The Ministry of Finance has, in a press release, expressed satisfaction regarding the findings on the Cypriot economy included in the Spring Package of the European Semester 2025, noting that they clearly confirm the steady progress, resilience, and momentum of the Cypriot economy. At the same time, the Ministry reassured that it will continue to implement the government’s economic policy aimed […]
Minister of Agriculture, Rural Development and Environment, Maria Panayiotou, has announced the Major Investment Measure of the Common Agricultural Policy (CAP) Strategic Plan 2023-2027, totaling €67.5 million, of which €7.5 million have been earmarked for the first installation of young farmers. In her speech at an event in Athienou on 5 June, Panayiotou also announced the […]
Koumis hails Paphos tourism gains and new sustainability efforts Paphos solidified its position on the global tourism map in 2024, Deputy Minister of Tourism Kostas Koumis said during this week’s general meeting of the Paphos regional tourism board (Etap). He highlighted the strong partnership between Etap and the Deputy Ministry, which has driven targeted promotional […]