Hybrid vehicles claim 36.9 per cent of new cars Motor vehicle registrations in Cyprus rose by 10.1 per cent from January to November 2024, with the growing popularity of electric and hybrid vehicles driving the market shift. According to the statistical service, electric car registrations increased to 4 per cent, while hybrids surged to 36.9 per cent, reflecting changing consumer preferences. […]
Limassol topped Cyprus’ property market from January to September 2024, leading in sales values for houses and apartments, according to a report from Nicosia-based firm Landbank Analytics. The report, which reviewed data from the Department of Lands and Surveys from January to September 2024, shed light on contracts of sales in Cyprus. In the Nicosia […]
Research and Innovation Foundation (RIF) director general Theodoros Loukaidis was recently presented with the Athenian Glaive award in Athens. According to an official announcement released on Monday, the RIF chief was given the award for his “instrumental role in positioning Cyprus as a leader in research and innovation”. The award was presented by Cyprus’ Ambassador […]
The Lloyd’s List Greek Shipping Awards 2024 brought together hundreds of industry leaders in Athens, celebrating the achievements of local and international shipping. Deputy Minister of Shipping Marina Hadjimanolis attended on behalf of the Republic of Cyprus and presented the ‘Achievement in Education or Training 2024’ award to Captain Panagiotis Tsakos. Speaking at the event, […]
Over 100 Cypriot antiquities, including pottery jewellery, coins and religious icons illegally removed from the island have now been repatriated from the UK, the antiquities department said on Monday. The artefacts had been handed over to the Cyprus High Commission in London by UK police after being returned by various individuals who had them in […]
Credit rating agency Fitch on Saturday upgraded Cyprus’ credit rating from BBB+ to A-, becoming the second such agency in the space of three weeks to give the island an ‘A’ grade. The agency said it had upgraded Cyprus’ score on account of “the rapid reduction in public debt, strong fiscal surpluses, and limited fiscal […]
Trendy without trying too hard By George Demetriades Nestled in the heart of Nicosia, on evergreen Pindarou, Beba is a restaurant that seems to have mastered the delicate art of being trendy without trying too hard. You know the type, effortlessly cool, with a vibe that feels more like a friend’s well-curated dinner party than […]
A new hotel investment covering an area of approximately 97,000 square meters on the islet of Diaporos, off Halkidiki, was launched by Stavros Andreadis through his company Stanta. According to the business plan, it will include 13 ground-floor villas and 13 two-story autonomous bungalows – i.e. a total of 76 rooms – which will be […]
As well as moving up a place to 27th overall in Global Innovation Index 2024, Cyprus is also considered to be in second place in Northern Africa and Western Asia region when island economies are included. The Global Innovation Index, also known as GII, is published by the World Intellectual Property Organization (WIPO). The newly […]
Here are the top business stories in Cyprus from the week starting December 2: Paphos mayor Phedonas Phedonos has urged Cypriot businesses to adopt a more international, export-oriented approach, saying that the island can become a starting point from which they can sell products or services to other countries.Speaking of broader economic opportunities, Phedonos, addressing Mindset […]
The Bank of Cyprus on Friday outlined a range of initiatives designed to ease the financial strain on customers in the face of market interest rate volatility. In its announcement, the bank detailed key measures such as interest rate reductions and a customer rewards programme, aimed at reducing loan servicing costs to borrowers. “We have […]
By Frederic Pralus The importance of Foreign Direct Investment (FDI) for national economies is undeniable. For countries like Cyprus, with an outward-oriented economic approach, the ability to attract businesses and capital is a critical driver of economic growth and employment opportunities. Cyprus, for several reasons, has caught the attention of companies choosing either to expand […]
President Nikos Christodoulides is expected to announce new projects during a visit on Saturday, in Tylliria and Polis Chrysochous, on the northwestern coast of Cyprus, while continuing the dialogue with civil society, Government Spokesperson Konstantinos Letymbiotis has announced. In a written statement, Letymbiotis says that the Saturday, 7 December visit is part of the government’s policy […]
The EY Attractiveness Forum 2024, held on 4 December in Limassol, highlighted the international investment community’s perception of Cyprus as an attractive investment destination while addressing the challenges and opportunities shaping the country’s economic future. The event brought together key stakeholders, including investors, government officials, and business leaders. Address by President of the Republic President […]
Y Cyprus on Friday announced that its recently held forum highlighted the international investment community’s view of Cyprus’ investment appeal. The EY Attractiveness Forum also addressed key economic challenges and opportunities, bringing together a number of influential stakeholders. This included investors, government officials, and a number of business leaders. In his opening remarks, the President […]
The Energy Ministry is offering a second chance for small and medium-sized enterprises (SMEs) and non-profit organisations to secure funding through the ‘Save – Upgrade’ scheme. This initiative, backed by the EU Recovery and Resilience Plan, seeks to promote energy-saving investments with a total budget of €24 million. Applications will open on a date yet […]