Tax incentives offered to attract international and Cypriot professionals to Cyprus have resulted in €406.6 million in tax exemptions over a three-year period, benefiting 25,277 employees who moved to the island for work between 2021 and 2023. The total salaries declared by these employees reached €1.31 billion, with exemptions ranging between 20 and 50 per cent depending on individual cases. The incentives […]
The China Enterprises Chamber in Cyprus (CECC) held its founding assembly in Limassol on Wednesday evening, with a view to strengthening business ties between Cyprus and China. The establishment of the CECC was welcomed by the Minister of Labour and Social Insurance, Yiannis Panayiotou, and the Chinese Ambassador to Cyprus, Liu Yantao, who expressed their […]
Transport Minister Alexis Vafeades has announced a new scheme to boost e-mobility in Cyprus, following its approval by the Cabinet. Speaking after the 25 June Cabinet meeting, Vafeades said the scheme was part of the state’s ongoing commitment to the transition to clean and sustainable forms of transportation and aimed at boosting the market for […]
The European Commission must ensure adequate protection mechanisms and conduct impact assessments to effectively safeguard the interests of the agricultural sector and the EU’s food security, Cyprus’ Minister of Agriculture, Rural Development, and Environment, Dr Maria Panayiotou has said. Speaking during the proceedings of the Council of Agriculture and Fisheries of the European Union (EU), […]
The Cypriot cabinet has approved the government’s new 2.5-million-euro subsidy scheme aimed at supporting the purchase of electric and hybrid vehicles in Cyprus. The plan, funded from the state budget, was a key commitment by Transport Minister Alexis Vafeades and is designed to make clean mobility more accessible to the public. The new program will […]
Trade unions are raising objections over the privatisation of the Cyprus Stock Exchange (CSE), warning that staff rights have not been fully safeguarded under the draft law currently before Parliament. During Monday’s session of the Finance Committee, representatives from Sek and Peo said that while agreements had been reached with the Finance Ministry during earlier consultations, […]
Cyprus housing prices rise in first quarter Paphos has emerged as the strongest performer for high-end houses in Cyprus’ residential property market, according to a report released on Monday by Landbank Analytics. The analysis was based on sale contracts filed with the department of lands and surveys. It included a breakdown of average prices for newly […]
As the maritime world marked the Day of the Seafarer on June 25, Columbia Group chose to shine a light on one of the industry’s most pressing issues, harassment at sea, through a special episode of its Columbia Group Unplugged podcast. Bringing together Simona Toma, captain Leonid Zalenski and Anca Preda, the conversation addressed the […]
Cyprus marked the Day of the Seafarer on June 25 with a message of gratitude and solidarity to maritime workers around the world, underlining their critical role in global trade and economic stability. In a video message, Deputy Minister of Shipping Marina Hadjimanolis extended greetings from Cyprus to seafarers across the globe, noting that the […]
Demetra Holdings Plc reported a profit of €132.5 million for 2024 during its annual general meeting on June 24, with acting chairman Nearchos Ioannou addressing shareholders. Opening the meeting, Ioannou thanked shareholders for their “continued support”, stressing that the occasion was particularly significant given Demetra’s position as the largest listed investment company on the regulated market of the […]
The Cabinet on Wednesday approved a new €2.5 million scheme to promote the adoption of electric vehicles in Cyprus, according to Transport Minister Alexis Vafeades. He said the plan aims to strengthen the market for electric and hybrid vehicles through government funding, adding that electric mobility is a key priority for Cyprus and essential to meeting its environmental targets. The […]
Larnaca is about to get a major facelift as plans move forward for a new luxury residential project featuring two soaring 20-story buildings. The Environmental Authority has officially approved the €40 million development by Solvin Ltd, paving the way for construction to begin once permits are in place. Dubbed Aqua Residences, the high-rise complex will […]
PwC Cyprus recently held an award ceremony to honour seven employees for their exceptional performance in the ACCA exams conducted between September 2024 and March 2025, according to an announcement released on Tuesday. The ceremony was hosted at PwC’s Experience Centre and was attended by the organisation’s Chief Executive Officer, Philippos Soseilos, and Anna Loizou, […]
Aegean has clinched the title of Best Regional Airline in Europe at the World Airline Awards 2025, extending its remarkable winning streak to 14 consecutive years, according to an announcement released on Turesday. The award ceremony took place on June 17 at the Air and Space Museum during the Paris Air Show. This distinction represents the 15th time […]
Cyprus’ banking sector recorded one of the highest profitability and capital adequacy levels in the European Union at the end of 2024, according to the European Central Bank (ECB). The figures revealed that Cypriot banks recorded the third-highest return on equity (RoE) across the EU at the end of December 2024, reaching 17.7 per cent. This […]
The Central Bank of Cyprus (CBC), which chairs the National SWIFT Users Group (NSUG), held a high-level online meeting on June 20, with the participation of 45 representatives from Cypriot financial institutions and SWIFT. According to a statement released by the CBC on Tuesday, the meeting focused on critical developments in the payments sector at both global and regional […]