ADNOC Drilling (ADNOCDRILL.AD), a unit of Abu Dhabi’s state oil giant, reported a 19 per cent rise in second-quarter profit this week, supported by strong performance in its oilfield services business and expansion into unconventional drilling. Net profit rose to $351 million in the three months to June 30, up from $295 million a year […]
Here are the top business stories in Cyprus from the week starting July 28: Eurobank has reported adjusted net profits of €711 million for the first half of 2025, marking a decline of 2.9 per cent compared to the same period last year. In addition, the bank’s total net profits fell by 4.3 per cent year-on-year to […]
Our long history of invasions has actually had some positive results On a warm afternoon in Nicosia’s old town, the scent of cinnamon-dusted koupes wafts from a street vendor’s cart while, just a few steps away, a kafenion serves Cypriot coffee in trademark tiny cups. But look closely at the Cypriot table, and you will see layers […]
The European Investment Bank is providing Cyprus with a further 100 million euros in funding for a range of road improvements in the country. The EIB credit will cover 50% of the costs of planned renovations and extensions to make road travel in Cyprus easier and safer. The agreement is part of a €200 million […]
Deputy Tourism Minister Kostas Koumis, recently met separately with the British High Commissioner to Cyprus Michael Tatham, and the French Ambassador to Cyprus Clelia Chevrier Kolacko, to explore ways of enhancing cooperation in tourism and boosting arrivals from both countries. During the meeting with Tatham, Koumis underlined the strategic significance of the UK market, calling […]
“Luxury is about space, privacy and authenticity” Few destinations embody the quiet elegance and natural beauty of the Mediterranean quite like Anassa, one of Cyprus’ most iconic luxury resorts. Nestled along the unspoiled coastline of Polis Chrysochous, the hotel has long been celebrated for its timeless design, impeccable service, and unique sense of place. At […]
A new monthly publication by Hermes Airports, Flight Mode, sheds light on how airlines decide to launch new routes, underlining that behind every added destination lies a complex, data-driven strategy involving demand forecasts, commercial performance and network optimisation. Hermes Airports, which manages and controls Larnaca and Paphos international airports, noted in the Flight Mode that […]
Synopsis: Outward FDI is also a sign of increased competitiveness, as firms seek to expand their market share, access resources, and acquire new technologies in other countries. Cambodia’s cumulative Foreign Direct Investment (FDI) outflow stood at over $1.7 billion until last year, the World Investment Report 2025, published by the United Nations Conference on Trade […]
Revenue from tourism for the period January-May 2025 is estimated at €955.8m compared to €751.2m in the corresponding period of 2024, recording an impressive increase of 27.2%, according to data published by CySTAT. Based on the results of the Passengers Survey, in May, revenue from tourism reached €373.3m, recording an increase of 20.2% as compared to […]
The next couple of months will see crucial developments regarding the future commercialisation of the Kronos offshore gas field, the energy minister said on Thursday. George Papanastasiou said important talks were held in Nicosia last week between himself and Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources. Taking part in the talks were senior […]
The energy regulator on Thursday gave a provisional green light to the payment by Cyprus of €25 million to the project promoter for the Great Sea Interconnector, the planned subsea electricity cable linking the island to Greece. In a statement, the Cyprus Energy Regulatory Authority (Cera) said it has approved the payment of €25 million […]
Local wines can now be enjoyed with home-cooked dishes Letymbou village is famous for its vineyards, which inspired Theodoros to build his modern boutique winery found just outside the village, near his vineyards. He is the fourth generation to make wine, but the first who dared to promote it on a commercial basis. Established in […]
A good glass of local wine and a full moon sounds like the perfect pair. As long as the person serving it to you knows what makes good wine and Cascadeur in Lympia certain knows all about oenology. Though the popular bar is closing its doors in August, it is travelling to a few villages […]
Sepaga E.M.I. has announced a new partnership with Cellock Ltd and the launch of the 7 Seas E-Wallet, a mobile banking solution designed specifically for the shipping industry. The announcement marks a significant step in addressing common transactional challenges faced by shipping companies, seafarers and suppliers. The 7 Seas E-Wallet has been developed to enable […]
Keve and Oev call for active support from Cypriot businesses The Cyprus Chamber of Commerce and Industry (Keve) on Thursday issued a statement to clarify the origins and purpose of the “Minds in Cyprus” platform, following what it described as “misleading announcements” that surfaced yesterday. Keve explained that “the platform was created as a result of […]
Whether you are searching for your dream home at the best possible price or a high-yield investment in Cyprus’ most sought-after locations, the Life Realty Summer Collection is designed with you in mind. This first edition of our Summer Collection features 50 carefully-selected properties chosen by our experienced team. Each home is in excellent condition and priced extremely competitively, […]