Cyprus is in the midst of a major development boom, with billions of euros being poured into a wide range of projects. This includes improvements to the country’s infrastructure, such as roads and ports, as well as the construction of new marinas, hotels, medical and diagnostic centres, university buildings, student dorms, golf courses, schools, and […]
The Retail Trade Turnover Value Index increased by 5.5% in March 2024 compared to the same month of the previous year, while during the same month, the Retail Trade Turnover Volume Index increased by 5.2% compared to the corresponding month of the previous year, the Statistical Service announced on Maundy Thursday. It is added that […]
When the team behind the very successful Oniro by the Sea decided to launch another restaurant, it would have been straightforward for them to repeat the same winning formula. However, with the opening of Onar in the heart of the old town of Paphos, this is not what they have done. Instead, they created a […]
Seated at The Shopkeeper & Co’s communal table, with headphones on, the music serving as a sufficient block between your own thoughts and any adjacent conversations, you could be forgiven for thinking that you weren’t in Cyprus. This has less to do with the self-styled concept store and coffee bar’s customer base, which is quite […]
The Research and Innovation Foundation (RIF) this week announced the launch of two new programmes, titled Excellence and Post-Doc respectively, with a total budget of €14.5 million. According to the announcement, the aim of these programmes is to foster scientific excellence by strengthening the production of new knowledge and giving young researchers the opportunity to lead research projects. […]
Cyprus’ Industrial Turnover Index reached 124.3 units in February 2024, with 2021 being the base year, set at 100 units, marking a 5.2 per cent increase compared to the same month in 2023. According to a report released this week by the Cyprus Statistical Service (Cystat), the index experienced a total increase of 4 per cent […]
Residency and permanent residency for EU citizens By Konstantinos Kaousliades Cyprus presents a compelling combination of a beautiful climate, a favourable tax and judicial system, a welcoming culture and people, and a stable environment for both living and doing business. It is widely regarded as an attractive relocation destination for individuals and businesses originating from non-European […]
The very idea we have of restaurants has changed profoundly and perhaps irreversibly in recent years. We used to go out to eat, now we mostly stay in and order. I don’t necessarily like the new way, much like I don’t find myself exactly at ease with the digital age or trap music, but the […]
A recently held property conference held in Larnaca expressed great confidence about the city’s real estate prospects, while also providing assurances that the redevelopment of the port and marina will be pursued at all costs. The event, titled ‘Property Show Larnaka 2024’, gathered a large number of property sector professionals and other stakeholders interested in […]
The acquisition of CNP’s insurance operations in Cyprus and Greece is expected to lead to increased and more varied revenue streams for Hellenic Bank, according to a report released this week by international rating agency Fitch. Hellenic Bank has entered into exclusive negotiations and has signed a put option agreement with CNP Assurances for the acquisition of its […]
Limassol port has seen a substantial rise in wheeled cargo traffic since DP World Limassol (DPWL) took over its operation, processing around 60,000 multipurpose Ro-Ro units (Roll-on, Roll-off) in 2023 alone, according to an announcement by the port management company released on Thursday. The announcement pointed out that this number represents a nearly 75 per cent increase in volume since […]
Cyprus’ retail sector experienced a significant upturn in March 2024, according to a report from the Cyprus Statistical Service (Cystat) released on Thursday. The report disclosed a 5.5 per cent increase in the retail trade turnover value index compared to March of the preceding year, while the retail trade turnover volume index saw a rise of 5.2 […]
ENI’s discoveries in Cyprus’ Exclusive Economic Zone (EEZ) and the scenarios for the exploitation of the confirmed drillings as well as the preferred solutions to efficiently meet domestic energy priorities were discussed in a meeting the President of the Republic, Nikos Christodoulides, and ENI’s CEO Claudio Descalzi. The meeting was held at the Presidential Palaceon […]
The significant contribution of sports tourism to the tourism economy of the country is confirmed, Deputy Minister of Tourism Kostas Koumis has said. He was speaking to CNA on 1 May, explaining that this year there had been a record number of participants in the Ayia Napa Youth Soccer Festival football tournament. In his statement to […]
“Given the importance of finance in modern society, tackling this challenge is a high priority for CySEC,” Elena Karkoti, Officer A at CySEC’s Department of Strategy, International Relations and Communications notes. Speaking to CBN, the Officer in charge of the financial education of the public at the Cyprus Securities and Exchange Commission, among other things, […]
The robust cash buffers of the Republic of Cyprus are expected to support the government in tackling uncertainty observed in the global economy, the Finance Ministry’s Public Debt Management Office (PDMO) has said. In its annual report for 2023, the PDMO said the government’s cash reserves at end-2023 amounted to almost €2.83 billion (deposited at […]