Cyprus’ full connection with the European eIDAS network is underway and will allow secure cross-border transactions between the member states of the European Union. An announcement by the Deputy Ministry of Research and Innovation says that the EU regulation provides for the mutual recognition and cross-border use of national electronic identification (eID) schemes maintained by the EU […]

The implementation of the special urban planning incentives scheme for developments in primary and secondary education, approved last week by the Council of Ministers following a proposal by the Ministry of Interior, is expected to generate significant multiplier benefits for Cyprus as an investment destination. With the education sector being one of the key pillars […]

Hourly labour cost in the fourth quarter of 2024 recorded an annual increase by 5.6%, according to CyStat.  On the basis of provisional data, it said it is estimated that in the fourth quarter of 2024 hourly labour costs (total cost) increased by 5.6%, compared with the same quarter of the previous year. The two […]

The Harmonised Index of Consumer Prices (HICP) rose by 2.3% between February 2024 and February 2025, and increased by 0.3% in the month between January 2025 and February 2025, according to Cystat. Compared to February 2024, the categories Recreation and Culture (7.2%) and Restaurants and Hotels (4.7%) showed the highest increases, while the category Clothing […]

Cyprus is poised to reap significant benefits as an investment destination following last week’s approval by the Councils of a new plan to provide urban incentives for developments in both primary and secondary education sectors. Initiated by the Ministry of Interior, this plan aims to bolster the education sector—a fundamental pillar of the state’s strategy […]

Salamis Tours, originally founded by Vasos Hadjitheodosiou, remains under the firm control of his family. Recently, E.V.H. Investments Limited, a subsidiary within the family’s business structure, increased its stake in Salamis Tours from about 80 per cent to 91.19 per cent. This move followed approval by the Cyprus Securities and Exchange Commission (CySEC) on March […]

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 […]