The Cyprus University of Technology (CUT) has secured preliminary approval from the Ministry of Finance for its development plan to construct new facilities for the Department of Multimedia and Graphic Arts and the School of Geotechnical Sciences and Environmental Management. The modern facilities, estimated to cost approximately €27 million, will be built on university-owned land adjacent to […]
Investment in Cyprus is off to a strong start in 2025, with foreign investors showing increased enthusiasm for setting up businesses on the island. Data suggest a surge in registrations of foreign companies, positioning Cyprus as a gateway for expansion into European markets. The government’s efforts to make the country an even more attractive investment […]
What makes a business successful? Smart investments, the right partners, and knowing where the best opportunities are. That’s exactly what InvestPro Cyprus Limassol 2025 is all about. Taking place in the heart of the Mediterranean, Cyprus is more than just a picturesque island — it is a thriving business hub, offering strategic advantages and global investment opportunities. […]
Alpha Bank’s senior leadership met with state officials and key business figures in Cyprus this week, in order to outline its growth strategy and expansion plans. According to an official announcement from the bank, this four-day visit “reaffirms its commitment to strengthening its presence in Cyprus, positioning its subsidiary as a leading banking choice for businesses and households”. The high-level […]
Cyprus’ real estate market continued its robust growth into February, with property sales increasing by 7 per cent year-on-year. Developments in Limassol and Larnaca were the primary driver behind this surge. According to the land department, property sales nationwide rose to 1,371 in February 2025, up from 1,284 in the same month last year. Over the January-February period, transactions increased by 13 per cent, with […]
The Cyprus Financial Literacy and Education Committee (CyFLEC) on Thursday announced that it is intensifying its efforts to promote financial literacy among young people and the broader society as part of Global Money Week. The committee, which has been operating under the Central Bank of Cyprus (CBC) since June 2024, “aims to enhance the ability of citizens—particularly young people—to […]
President Christodoulides on Wednesday announced a reduction in VAT on electricity prices for domestic consumption from 19% to 9%. He mmade the announcement while reviewing the government’s work for 2024. President Christodoulides stated, “As part of our policy for cheaper energy and broader tax reduction, as presented in our proposal for tax reform, I announce […]
The business world has given a vote of confidence to the under development new tax model for Cyprus, with business entities finding that the tax reform proposed by the University of Cyprus’ Economics Research Center (CypERC) is a move in the right direction and strengthening the country’s competitiveness. The positive lens through which the local […]
President Nikos Christodoulides announced that he will be visiting three US states in the immediate future, with a focus on attracting investments and strengthening diplomatic and economic ties through new diplomatic missions in selected countries. He revealed the news at a meeting with a delegation from Alpha Bank Greece and Cyprus at the Presidential Palace, […]
Cyprus’ tourism ministry this week launched the application process for a grant scheme aiming to enhance the qualitative and aesthetic appeal of Cyprus’ beaches. This initiative, according to the ministry, seeks to position Cyprus as a “destination accessible to every visitor.” In the statement, the ministry clarified the scheme’s objective to promote projects aimed at […]
Eurobank has outlined its strategic objectives following the acquisition of 100 per cent of Hellenic Bank in its public offer document, which details the roadmap for the acquisition process. The bank intends to proceed with the necessary steps to delist Hellenic Bank’s shares from the Cyprus Stock Exchange (CSE) upon completion of the offer. The public offer aims to secure the remaining […]
Cyprus has one of the lowest rates of online shopping complaints in the European Union, as only 14.7 per cent of its consumers reported issues, according to data released by Eurostat on Wednesday. Moreover, lowest shares were also reported in Portugal (4.3 per cent) and Latvia (13.7 per cent) In contrast, around one-third (33.1 per cent) of EU consumers faced challenges, with Luxembourg (55.5 per […]
Cyprus recorded in January a general government surplus of 566.9 million euros (1.6% of GDP) according to the preliminary fiscal data by the Statistical Service (CyStat). The service said on Monday that the corresponding surplus for January 2024 amounted to €476.5 million (1.4% of GDP). Total revenue in January increased by €194.3 million (+14.3%) to […]
Total employment for the fourth quarter of 2024 is estimated at 500,606 persons, of which 448,007 are employees and 52,599 are self-employed. According to CySTAT, compared to the corresponding quarter of 2023, total employment increased by 1.7% for the 4th quarter of 2024. The most significant percentage increases were observed in the economic activities of […]
The interest rates of Cypriot banks for both deposits and loans are showing increased alignment with eurozone averages, according to data published by the Central Bank of Cyprus for December. The initiative aims to enhance market transparency and consumer awareness by providing detailed breakdowns of rates offered by individual financial institutions, enabling households and businesses to make more informed financial […]
Cyprus has implemented new restrictions on licensing solar farms on agricultural land, following recommendations from the Audit Office, Interior Minister Konstantinos Ioannou told the House Agriculture Committee on Tuesday. The committee continued discussions on protecting agricultural land from solar installations, with the Energy, Commerce and Agriculture Ministers attending alongside representatives from the energy regulator CERA, transmission system […]