Cyprus’ banking sector has undergone a profound transformation since the 2013 financial crisis, marked by sweeping consolidation, branch closures, and a rapid shift towards digital banking. Since 2013, several key players have exited the scene. Laiki Bank and the Cooperative Bank have both shut down. Hellenic Bank, which absorbed the Cooperative, is now part of […]
The National Bank of Greece (Cyprus) posted a net profit after tax of €13.6 million for 2024, marking a 143 per cent increase compared to the previous year. According to the bank’s annual results, total assets rose to €1.2 billion, a year-on-year increase of 123 per cent, attributed to “growing customer trust and the enhanced market presence of the bank”. Moreover, the […]
Limassol leads in real estate value, Nicosia in transaction growth The total value of all real estate transactions in Cyprus reached a record-high €5.71 billion in 2024, reflecting a modest one per cent increase compared to 2023, according to a report released on Monday by PwC Cyprus. The firm also noted that the total number of transactions decreased slightly to 23,900, representing a […]
Work on the second phase of development at Larnaca and Paphos airports is officially underway, with the projects expected to boost the combined annual capacity of the two hubs to more than 17 million passengers. According to an announcement by Hermes Airports, the upgrades represent a total investment of €170 million, to be fully funded by the airport operator. Maria Kouroupi, Director of […]
Greek retail giant Jumbo has confirmed its interest in opening two new stores in Cyprus – one in Larnaca and the other in Protaras – but clarified that there’s no set plan or timeframe at this stage. The company told Kathimerini that the move is part of its broader five-year vision, not an active development […]
Cyprus and Cambodia are joining forces to redefine travel, trade, and cultural exchange. As Cambodia emerges as one of Southeast Asia’s fastest-growing destinations for tourism and investment, Cypriots are being invited to explore a land of ancient wonders, lush landscapes, and boundless opportunities. In 2023 alone, Cambodia welcomed over five million visitors, many drawn to […]
News May 1, 2025 PERA ORINIS, CYPRUS—In 1885, German archaeologist Max Ohnefalsch-Richter located the Sanctuary of Apollo at Frangissa in a remote valley near the ancient site of Tamassos. The temple was filled with hundreds of votive statues, some of colossal size, and the discovery was considered one of the most spectacular finds of its time. […]
The Cyprus Chamber of Commerce and Industry (Keve), in collaboration with the embassy of Hungary in Cyprus, will host a business-to-business (B2B) event highlighting innovative Hungarian technologies in agriculture and industry. The event, titled “Hungarian Smart & Sustainable Solutions for Agriculture and Industry with Drone Live Presentation”, will take place on Wednesday, May 14, 2025 at 09:00 at […]
Bank of Cyprus Holdings Public Limited Company on Friday announced the repurchase of 295,526 of its own ordinary shares between April 25, 2025, and May 1, 2025. The shares, each with a nominal value of €0.10, were acquired on both the Cyprus Stock Exchange (CSE) and the Main Market of the Regulated Securities Market of the Athens Stock Exchange (ATHEX). The transactions were […]
Nicosia topped the charts in March with the most expensive property sale in Cyprus, a whopping 29.3-million-euro office transaction in the central district of Agioi Omologites, according to property data firm Ask Wire. In its latest report, the company revealed that the 10 most expensive property sales across the island in March reached a combined […]
Retail trade in Cyprus marked a notable growth in March 2025, with both the Turnover Value Index and the Turnover Volume Index increasing by 5.6% compared to the same month last year, according to Cystat. The Turnover Value Index for retail trade, excluding motor vehicles, rose to 128.4 points (base year 2021=100), while the Volume […]
Cyprus recorded a general government surplus of €580.6 million in the first quarter of 2025, according to preliminary data published by the Cyprus Statistical Service (Cystat) on Friday. The surplus represents 1.6 per cent of GDP and marks a slight increase from the €575.7 million surplus (1.7 per cent of GDP) recorded during the same period in 2024. Total government revenue for January to March […]
Cyprus recorded €92.7 million in high-value property transactions in March 2025, with Nicosia taking the lead thanks to a single €29.3 million office sale, according to real estate analytics firm Ask Wire. According to a report released on Friday, the 50 most valuable transactions nationwide marked a 43 per cent increase compared to February 2025, underlining a strong rebound in property market activity. […]
Nestled on the sun-drenched southwest coast of Cyprus, Paphos is a charming city that effortlessly blends history, nature, and Mediterranean flair. It’s a place where ancient ruins overlook sparkling seas and traditional tavernas buzz with the clinking of glasses and the smell of grilled halloumi. Whether you’re planning a cultural getaway, a beach escape, or […]
After months of setbacks and stalled progress, three of Cyprus’ biggest public works projects are getting a fresh start. The government plans to re-tender and relaunch work on the long-delayed Paphos-Poli road, the redevelopment of Larnaca port, and the expansion of Nicosia’s ringroad, all by end-2025. These major projects had hit roadblocks after issues with […]
Light foods with a German twist Strictly speaking, the definition of a restaurant is “a place where people pay to sit and eat meals that are cooked on the premises”. This review is slightly different in that it is a roadside establishment that, from the road, looks more like just a takeaway. The kitchen/bar area […]