Revenue from tourism in Cyprus for the first five months of the year is estimated at 955.8 million euros, compared to €751.2 million in the January-May period of 2024, recording an impressive increase of 27.2% year-on-year, according to data published by the Cyprus Statistical Service (CyStat) on Wednesday. Based on the results of the latest […]
Italian fashion house Roberto Cavalli has announced its first residential project in Europe, partnering with Cyprus-based Leptos Group on a €200 million luxury tower development in Limassol. The 30-storey Cavalli Tower at Limassol Blu Marine marks the designer brand’s debut in the Mediterranean luxury residential market and represents the first Cavalli-branded property development in Europe. Located […]
The Cyprus Chamber of Commerce & Industry (Keve) on Wednesday announced the launch of the co-financed Data ProTech project, designed to help Cyprus SMEs comply with AI and data protection regulations. The consortium agreement was signed by personal data protection commissioner Irene Loizidou-Nicolaidou, Keve secretary general Philokypros Rousounides, and the executive director of the University of Limassol […]
Italian fashion icon Roberto Cavalli is making its first move into Mediterranean real estate, unveiling a €200 million collaboration with Leptos Group to launch a 30-storey beachfront tower in downtown Limassol. Branded as ‘Cavalli by Limassol Blu Marine,’ the high-rise development will mark the first Cavalli-branded residential project not only in Cyprus but across the […]
Tourism revenue in Cyprus climbed to €373.3 million in May 2025, according to the latest results on Wednesday from the passengers survey conducted by the statistical service (Cystat). This marks a 20.2 per cent increase compared to May 2024, when it stood at €310.5 million. For the five-month period from January to May 2025, revenue from tourism is estimated at €955.8 million, a rise […]
Cyprus’ Cronos natural gas field is expected to be linked to Egypt’s gas infrastructure by 2027, according to a statement from Egypt’s Ministry of Petroleum & Mineral Resources. The statement was released after meetings in Cyprus attended by Karim Badawi, Egypt’s minister of petroleum and mineral resources, and George Papanastasiou, Cyprus’ minister of energy, commerce and industry, the Egyptian […]
The Republic of Cyprus will on Tuesday, 29 July, officially submit its interest in the ‘SAFE’ regulation to the competent committee of the European Union, Minister of Defence Vasilis Palmas has confirmed. On 30 November, the amount, needs, and programmes for Cyprus’ participation will be submitted in detail, while the Ministry of Defence will consult […]
Cyprus Ports Authority has announced the signing of the contract with the contractor company DBA SpA for the study of the construction of a land-based electricity supply system at the New Port of Limassol. The study will cover technical, economic and environmental aspects of the installation, as well as the required adjustments to the existing […]
The total sales of petroleum products in June 2025 amounted to 140,669 tonnes, recording an increase of 10.4% compared to June 2024, according to data published by CySTAT. A rise was observed in the provisions of marine gasoil (228.6%) and aviation kerosene (20.4%), as well as in the sales of kerosene (320%), heating gasoil (30%), […]
The island’s number one real-estate platform, BuySell, in collaboration with AXIA Chartered Surveyors, has completed the largest and most comprehensive study of property sale prices ever conducted in Cyprus. The analysis covers 121,434 properties listed for sale on BuySellCyprus.com. The results will be announced through a series of press releases over the coming weeks. The first part of […]
The Cyprus Ports Authority (CPA) has signed a contract with firm DBA S.p.A. for the preparation of a comprehensive study on the development of an onshore power supply (OPS) system at Limassol port, marking a key step in the island’s green transition. The study will examine the technical, economic, and environmental dimensions of the planned […]
Company will gain access to advanced GPU resources and deep learning tools Bolsterup, a startup with Cypriot roots, announced that it has been accepted into the NVIDIA Inception Program, a global initiative that supports startups developing cutting-edge technologies across industries. “We’re excited to share that Bolsterup has been accepted into the NVIDIA Inception Program,” the company said, […]
The average gross monthly earnings of employees in Cyprus reached €2,509 during the first quarter of 2025, according to a report from the state statistical service released on Tuesday. This reflects a 5.4 per cent increase compared to €2,382 in the first quarter of 2024. The report also indicated that seasonally adjusted average gross monthly earnings rose by 1.4 per cent in […]
Limassol-based marine fuel trading firm Island Oil has opened a new international trading office in Dubai, marking its seventh trading desk globally and strengthening its presence across key marine fuel markets. Chief Operating Officer Vangelis Marinakis said the newly established Dubai office is “an important step towards the full coverage of the marine fuel market […]
MHV Mediterranean Hospitality Venture Plc, a leading player in the hospitality and real estate space, on Monday announced the approval of a new bond loan programme and subscription agreement amounting to a maximum of €20 million. According to a filing on the Cyprus Stock Exchange (CSE), the company confirmed that its board of directors examined […]
Total deposits in Cyprus recorded a net increase of €654.7 million in June 2025, compared to a net increase of €20.8 million in May 2025, according to data released by the Central Bank of Cyprus (CBC). The figures were published in the July 2025 edition of the monetary and financial statistics, which include data from monetary financial institutions […]