Scheme aims to boost local business ecosystem The migration department on Wednesday announced the start of applications for residence permits under the Cyprus Digital Nomad Visa scheme. According to the announcement, the scheme “aims to attract nationals from non-European Union (EU) and non-European Economic Area (EEA) countries, allowing them to reside in Cyprus”. This is conditional on the premise that their […]
Economy to outperform EU average Credit rating agency Morningstar DBRS on Wednesday revised its economic growth and unemployment projections for Cyprus, reflecting a more optimistic outlook for the country’s economy. In its report, the agency updated its macroeconomic forecasts for several sovereign nations, including Cyprus. It increased its 2025 GDP growth estimate for Cyprus by 0.3 percentage points compared […]
Cypriot businesses have significantly progressed with the integration of digital technologies into how they operate, according to the Cyprus Statistical Service (Cystat). This was evident in Cystat’s latest report detailing the results of its 2024 survey on the use of information and communication technologies (ICT) and e-commerce in businesses. The findings reveal that a substantial 84.1 per cent […]
For the first time a Cypriot has been elected to the position of Vice Chair of the International Maritime Organisation, the deputy ministry of shipping announced on Wednesday. In a press release the ministry said the election of its Legal Affairs Director Lydia Markari-Kyriacou to the post had been unanimous by IMO member states during […]
Consulting and advisory firm PwC Cyprus on Wednesday released a statement detailing the various initiatives implemented by its foundation to “strengthen financial literacy and foster an entrepreneurial mindset among young people”. Specifically, to mark Global Money Week 2025, which took place from March 17 to 23, the non-profit PwC Foundation coordinated the ‘Financial Literacy’ educational programme for the third consecutive year. The initiative was […]
The upgrade of Cyprus’ economy by Morningstar DBRS rating agency constitutes a vote of confidence in the government’s responsible fiscal policy, President of the Republic, Nikos Christodoulides, said on Saturday, expressing his satisfaction. Speaking to the press, President Christodoulides stated that the upgrade of the economy by yet another rating agency is, among other things, a vote […]
Minister of Finance Makis Keravnos has held a courtesy meeting with the new Executive Director of the International Monetary Fund (IMF), Jeroen Clicq, at the Ministry. In a press release from the Ministry, it was noted that during the Friday, 21 March meeting, “views were exchanged on matters of common interest as well as current geopolitical and economic […]
Capital Intelligence Ratings (CI Ratings or CI) announced that it has upgraded the Republic of Cyprus’ Long-Term Foreign Currency Rating to ‘BBB+’, from ‘BBB’. At the same time, CI Ratings has affirmed the sovereign’s Short-Term FCR at ‘A2’. The Outlook for the ratings has been revised to Stable from Positive following the upgrade. The agency […]
The ferry service connecting Cyprus and Greece will operate for a fourth consecutive year, with the Cyprus-flagged vessel “Daleela” scheduled to begin its 2025 season on May 31 from Limassol port, maritime officials announced today. Bookings for the popular maritime route will open on April 2, with the final journey from Piraeus port scheduled for September 2, […]
The Holy Synod of the Church of Cyprus has approved a request from Kykkos Monastery to develop a significant parcel of land near its “Agios Prokopios” dependency in Nicosia. The development will take place on a 331,450 square meter plot owned by the Kykkos Bishopric, with construction covering 324,855 square meters of the total area, according to […]
Limassol-based maritime analytics firm KeelX launched on Monday a generative AI chatbot designed to support faster decision-making and improve operational efficiency across the shipping industry. According to the statement, KX-AI, is embedded in KeelX Analytics and enables users to query a range of topics including fleet performance, emissions management, market trends, regulatory developments and operational […]
Cyprus is set to open a new facility dedicated to the care of the endangered Mediterranean monk seal (Monachus monachus), authorities announced on Saturday, marking International Seal Day. The facility will be located at the Cyprus marine aquaculture research centre in Meneou, under the auspices of the fisheries and marine research department (FMRD). The FMRD […]
Bringing the cash clo 21 MARCH 2025 – 15:55 Share this page: The two major banks in Cyprus, Bank of Cyprus and Hellenic Bank, are moving forward with agreements made with President Christodoulides. During a meeting with the President, the CEOs of the two banks, Mr. Michalis Louis and Mr. Panicos Nicolaou, agreed to install […]
Hermes Airports has finalised financing arrangements for the second phase of the expansion of the Larnaca and Paphos airports, marking the beginning of construction works aiming to increase passenger capacity, the company announced on Friday. The airport operator has signed all necessary agreements with financing banks and has contracted the construction consortium of Bouygues Batiment International […]
Central Bank of Cyprus (CBC) governor Christodoulos Patsalides on Friday highlighted the country’s economic transformation in recent years, while also outlining the challenges that lie ahead. Speaking at a joint conference organised by the CBC and the European Stability Mechanism (ESM), he stressed the need for sustainability, innovation, and inclusiveness in shaping Cyprus’ economic future. […]
Here are the top business stories in Cyprus from the week starting March 17: The Cyprus International Businesses Association (CIBA) has sent a letter to Finance Minister Makis Keravnos, raising a series of questions regarding the proposed tax reform and its impact on foreign investments and international businesses operating in Cyprus. The letter, signed by CIBA board president Doxia Nikia Hadjivassiliou, […]