Cyprus’ main exports for 2023 included minerals, oil, halloumi cheese, and pharmaceutical products, according to a report by the state’s statistical service (Cystat). The report revealed that Cyprus exported domestically produced products amounting to €508.39 million to EU countries during 2023, along with €1.84 billion worth of products to third countries. Moreover, the primary products exported by Cyprus to EU countries were […]

Cyprus’ Deputy Ministry of Tourism has announced a scheme to sponsor experiential workshops in traditional crafts, agricultural and livestock product processing, and gastronomy, in order to boost rural tourism. As outlined in a statement by the Ministry, the initiative, known as the Experiential Workshops Grant Scheme for Traditional Crafts, Agricultural and Livestock Product Processing, and Gastronomy for 2024, aims […]

A multifunctional park, which will include spiral pedestrian walkways, a lake, a botanical garden, and panoramic sea views, is set to connect the west with the east of part of Ayia Napa, enriching its tourism offering. The Ayia Napa Municipality has launched a tender for the construction works, which will cost €3.625 million. Interested parties […]

A three-ship convoy departed Cyprus for Gaza early Saturday, with 400 tons of food and other supplies, the second delivery of the kind recently as concerns about widespread famine in the region grow. The aid deliveries are organized by World Central Kitchen (WCK). The boats are carrying ready-to-eat items like rice, pasta, flour, legumes, canned […]

The board of directors of state-owned asset management company Kedipes this week decided to make the largest quarterly cash payment to the state since its establishment in 2018, amounting to €140 million, for the first quarter of 2024. According to an announcement by the Kedipes, this decision falls within the framework of repaying the state aid received by […]

The fleet of vessels registered under the Cypriot flag has seen a significant increase of approximately 5.5 per cent, equivalent to about 1.1 million tonnes, over the past six months, according to the Deputy Minister of Shipping Marina Hadjimanolis. The minister’s comments were delivered during an event at the DP World passenger terminal in the […]

CBC governor Constantinos Herodotou on Friday addressed the “Digital Financial Literacy: the Way Forward” conference, held by the Central Bank of Cyprus (CBC). The conference aimed to explore the multifaceted dimensions of digital financial literacy, acknowledging both the challenges and opportunities arising from the increasing use of digital technologies in our daily lives. “Financial literacy allows people […]

Total deposits in February recorded a significant net increase by €65.4 million following a decrease of €366.0 million the previous month, while loans recorded a large net increase of €348.9 million after a net decrease of €122.9 million recorded in January 2024. According to the Central Bank of Cyprus’ Monetary Financial Institutions (MFIs) deposits and […]

Cyprus’ Industrial Production Index surged to 99.5 units (base year 2021=100), marking an annual increase of 4.2% compared to the same period in 2023, according to Cystat. The manufacturing sector recorded a 3.2% uptick compared to January 2023. Notable increases were also evident in other key sectors. The water supply and materials recovery sector saw […]

The total sales of petroleum products in Cyprus reached 115,421 tons in February, marking a 7.1 per cent increase compared to February 2023, according to a report released on Wednesday by the Cyprus Statistical Service (Cystat). According to the report, there was a rise in the supply of oil to ships (48.2 per cent) and aircraft (8.7per […]

Central Bank of Cyprus (CBC) governor Constantinos Herodotou on Thursday utilised the second educational video by the CBC to emphasise the vital importance of digital financial literacy in today’s digital age. According to the CBC, these videos are integral to a larger initiative aimed at improving financial literacy throughout Cyprus, with a particular focus on educating the youth. […]

President Nikos Christodoulides on Thursday met with the advisory committee on tax reform, asking that progress on this matter be accelerated, in order to reap any benefits at the earliest opportunity. The meeting, which took place at the Presidential Palace in Nicosia, also involved Finance Minister Makis Keravnos, and allowed the president to be briefed on the progress recorded […]

The Ministry of Finance has welcomed the European Commission’s In-Depth Review on the Cypriot economy, stating that its results show the government’s “sound economic policy and the efforts exerted to correct the economy’s macroeconomic imbalances.” “The government’s concern is the implementation of policies which would safeguard further correction of imbalances and the strengthening of the […]

The Council of Ministers is convening for an extraordinary session on 28 March to approve a new package of targeted measures to alleviate pressures from price hikes. According to CNA sources, the government will not renew the zero excise tax on fuels which expires at the end of March, but will renew the scaled state […]

From tragic to comic, leading ballet dancers will play them all. SARA DOUEDARI meets the Principal Dancer of the Vienna State Ballet, who has journeyed from an island more often celebrated for its historical sites than its ballet traditions Born in Nicosia, a place where ballet opportunities are limited, Ioanna Avraam’s rise to the top […]

Cyprus is an important destination for investments from Estonia and there are many areas of cooperation between Estonian and Cypriot companies, said President of Estonia Alar Karis. On the first day of a three-day official visit to Cyprus, he was addressing a 27 March business forum organised by the Cyprus Chamber of Commerce and Industry […]