Cyprus experienced growth across a number of key economic sectors, according to the state statistical service. In its latest report, which analysed monthly economic developments from January to December 2024, the service provided a comprehensive overview of the most recent economic trends in Cyprus. The report included a comparison of data from the past four […]

Hong Kong investor Balram Chanrai is steadily increasing his ownership of Agros Development Company ‘Proodos’ Public Ltd, which owns the Rodon hotel in Agros. Based on the announcements on the Cyprus Stock Exchange (CSE), since the beginning of 2025 up to February 12, he has made approximately 20 share purchases, now holding 35.96 per cent […]

Bank also earns key compliance certification The Bank of Cyprus this week presented its revamped branch network model, inaugurating its newly renovated branch on Archbishop Makarios III Avenue in Nicosia. The event, held on Wednesday afternoon, was attended by the Nicosia Mayor Charalambos Prountzos, along with the city’s deputy mayors. Retail Banking Director Theodosis Theodosiou explained that in-store […]

Deputy Shipping Minister Marina Hadjimanolis visited Doha from February 4 to 6, in a move to strengthen maritime ties, according to an announcement released on Friday. Invited by Qatar’s Minister of Transport, the visit provided an opportunity for key discussions on enhancing sustainable development and expanding maritime infrastructure”, with a focus on deepening cooperation between […]

A Cypriot property developer has unveiled plans for a 1-billion-euro mixed-use development in Prastio Avdimou, which could become one of the largest private investments in the country. The project, named St Nicholas Hills, will include a hospital, private school, university, and student accommodation for 12,000, DNP Property Group announced. The development will be built on […]

The environment department has given approval for a €55 million project to convert an existing tourist apartment complex into a 480-bed, 4-star hotel in Polis Chrysochous, it emerged on Wednesday. In addition, the department noted that the approval is subject to specific conditions and input from various stakeholders. According to the environmental study submitted by […]

The European Commission has issued a positive preliminary assessment for Cyprus’ request to receive €76.9 million under the NextGenerationEU programme, which aims to drive Europe’s recovery towards a greener, more digital, and competitive future. According to the European Commission, Cyprus has successfully met the required milestones and targets to qualify for this third payment under the Recovery and Resilience […]

By Associated PressMANILA, Philippines — Philippine President Ferdinand Marcos Jr. thanked Cambodia’s king on Tuesday for granting a royal pardon last year to 13 Filipino women who were convicted of illegally serving as surrogate mothers in the Southeast Asian kingdom. Marcos expressed his gratitude in a meeting with Cambodian Prime Minister Hun Manet , who […]

The Secretary General of the CCCI, Philokypros Roussounides, expects steadily rising growth rates for Cyprus in 2025, while the Director General of OEB, Michael Antoniou, says fluid conditions in the global economy make anticipating the course of the Cypriot economy risky at this stage, while also noting, however, that Cyprus has proven that it has […]

The share of renewable energy sources used in transport in the EU increased in 2023 compared to 2022, while remaining essentially unchanging in Cyprus, according to data released by Eurostat. In 2023, the share of renewable energy sources in transport reached 10.8% at EU level, a 1.2 percentage points increase from 2022 (9.6%). Meanwhile in […]

Limassol continued to lead Cyprus’ high-value real estate market in 2024, accounting for eight of the ten most expensive property transactions, with a total value of €176.8 million, according to real estate analytics firm Ask Wire. The highest-value transaction of the year was a €39.3 million apartment development in Polemidia, Limassol. The only other districts […]

4 million visitors, €3 billion revenue in 2024 Cypriot tourism has recovered from the challenges of the previous three years, including the pandemic and the loss of the Russian market, according to president Nikos Christodoulides. Speaking during the annual general assembly of the Association of Cyprus Tourist Enterprises (Stek), the president explained that the government’s priority will now shift to […]

Eurobank announced on Tuesday that it has completed the acquisition of an additional 37.5 per cent stake in Hellenic Bank, bringing its total shareholding to 93.47 per cent. The bank has also launched a mandatory public offer to acquire the remaining shares of Hellenic Bank, aiming for full ownership. The transaction, finalised on February 10, 2025, after obtaining the […]

Trade and tourism will dominate the agenda during Prime Minister Hun Manet’s two-day visit to the Philippines beginning today, The Manila Times reported. Mr Hun Manet will also be discussing matters related to defence along with regional and multilateral cooperation with Philippines President Ferdinand Marcos Jr, the newspaper said, quoting an official Malacanang statement. Malacanang […]

The Ministry of Energy has today published guidelines for its €35 million energy storage scheme, previously approved by the Council of Ministers, aimed at promoting energy storage solutions across the country. The scheme, funded through the ‘THALIA 2021-2027’ Cohesion Policy Programme and the Just Transition Fund, targets approximately 150MW of storage capacity with total storage capabilities of […]