Credit rating agency Moody’s on Wednesday upgraded the baseline credit assessment (BCA) and adjusted BCA of Hellenic Bank, shifting its outlook from stable to positive. Specifically, the agency raised the bank’s BCA from ba1 to baa3, its long-term deposit rating from Baa2 to Baa1, and its senior unsecured debt rating from Ba1 to Baa3. The decision was based on a combination […]

Phnom Penh, March 12, 2025 — The Council for the Development of Cambodia (CDC) and two leading firms, RMA (Cambodia) and Minebea (Cambodia), have discussed preparations for a productive 3rd meeting of the Automotive and Electronic Sector Development Council in April. The discussion on Mar. 10 was chaired by H.E. Nut Unvoanra, Deputy Secretary General […]

The official commencement of the Techo International Airport (TIA) scheduled this July will not only enhance Cambodia’s connectivity to more tourist destinations both regionally and globally but also help the Kingdom receive 7.5 million international tourists in 2025, said Minister of Tourism Huot Hak yesterday. During a site visit to the ongoing construction of the […]

The number of job vacancies in the 4th quarter of 2024 reached 12,997, recording an increase of 959 vacancies (8%) compared to the same quarter of the previous year when the number was 12,038. Compared to the 3rd quarter of 2024 the number of job vacancies decreased by 3,013 (18.8%), CySTAT figures show.. The job vacancy […]

Tourist arrivals reached 133,760 in February 2025 compared to 125,034 in February 2024, recording an increase of 7%, according to data published by CySTAT. During the first two months of 2025 and in comparison to the same period of 2024, 32,865 more tourists visited Cyprus (245,860 compared to 212,995), recording a significant increase of 15.4%. Arrivals […]

The employment in the Broad Public Sector increased by 1,476 persons (2%) in the 4th quarter of 2024, compared to the same quarter of 2023, reaching 76,837 people. According to data published by CySTAT, employment in Central Government increased by 1,208 persons (1.9%) and in Local Authorities by 1,111 persons (24.5%), whereas in Publicly Owned […]

Imagine waking up to the sight of rolling fairways bathed in golden sunlight, where nature and luxury intertwine in perfect harmony. Welcome to The Starlings, the latest residential masterpiece unveiled by Limassol Greens. More than just a collection of apartments, The Starlings redefine resort living, offering an elevated lifestyle that blends contemporary design, breathtaking views, and world-class amenities in […]

The Deputy Ministry of Shipping is advancing plans to construct new headquarters on the site of the former ‘Nemitsas’ factory in Limassol, following recently introduced public investment procedures. However, the timeframe for the project remains uncertain, as approvals depend on various government departments, including the general directorate for development and the environment department. According to the Limassol Chamber […]

Fitch Ratings has upgraded the Long-Term Issuer Default Rating (IDR) of the Bank of Cyprus (BoC) to BBB- from BB+, assigning a positive outlook. This marks a significant milestone for the bank, reflecting its strengthened financial position and the broader stability of the Cypriot banking sector. “The upgrade mainly reflects BoC’s improved asset quality from a reduced stock of legacy problem assets […]

Alpha Bank Cyprus this week presented its future strategy during a corporate event held at at the Four Seasons Hotel in Limassol. According to an announcement released on Tuesday, the bank said that it is “shaping the country’s banking landscape, strengthening the national economy, and solidifying its position as a rising force in the sector“. It added that the […]

Kykkos monastery is expected to proceed with a major new development on land it owns in Engomi, according to reports released on Tuesday. Spanning 331,450 square metres, the plan includes a five-star hotel, residential units, commercial spaces, office buildings, medical facilities, and educational institutions. In addition, it involves green areas and a large section reserved for parking spaces. According to […]

The 4th tournament of the FIDE Women’s Grand Prix 2024–2025 series began with the opening ceremony on Friday, March 14, in Cyprus’ capital Nicosia. Organised under the auspices of the International Chess Federation (FIDE) and the Cyprus Chess Federation, the event is supported by its main sponsor, Freedom24. Ten of the world’s top female chess players will […]

The Holy Synod will convene in an extraordinary session on 24 March to consider approval for a substantial development project in Engomi on land owned by the Kykkos Monastery. The proposed development spans a total area of 331,450 square metres, with construction planned across 324,855 square metres of the site. Kykkos Bishop Nikiforos will present the proposal […]

The Central Bank of Cyprus has upwardly revised its forecast for Cyprus’ GDP growth rate for 2025 by 0.1% to 3.2% compared to its December 2024 projections. At the same time, it has maintained its forecast for GDP growth in the period 2026-2027 at 3.1% annually. 

Many hotels across Cyprus’ tourist areas have undertaken partial or extensive upgrades in recent years, despite challenges facing the tourism sector. Hotel industry representatives highlight that Cyprus relies on its high-quality hotel facilities and services to maintain competitiveness in the region. Christos Angelides, general director of the Cyprus Hoteliers Association (Pasyxe), told Stockwatch that there is “cautious optimism” for 2025, noting that […]

Cypriot citizens are one step closer to the dream of hassle-free travel to the United States, as final approvals near for Cyprus’ inclusion into the US Visa Waiver Program (VWP). The Cypriot authorities have already done all the necessary groundwork to secure the final green light from the US. A team of experts from the […]