Neapolis University Pafos hosted an insightful panel discussion focused on enhancing economic and commercial ties between Cyprus and the United States on 5 March. Key participants included Julie Davis, U.S. Ambassador to Cyprus, Marios Tannousis, CEO of Invest Cyprus, John Georgoulas, US Chamber of Commerce Cyprus Member of the Board & Chairman of the Economic […]
The Transport and Storage Turnover Value Index recorded a 1.6% increase in the period January-December 2024, compared to the same period in 2023, according to Cystat. In the fourth quarter of 2024, the index reached 142.4 points (base year 2021=100), marking a 2.2% year-on-year increase. By economic activity, significant growth was observed in water transport […]
Larnaca and Paphos airports exceeded the 500,000-passenger threshold in February, the first time ever for this month, recording an annual increase of 8%, while passenger traffic has increased by 7.39% since the beginning of 2025, compared to 2024, according to an announcement by the Ministry of Transport, Communications and Works. The Ministry said that Larnaca and […]
Cenergy Holdings on Wednesday announced its consolidated net profit after tax increases of 139 million euros for the financial results of the year ending December 31, 2024, and a dividend of €0.14 per share, increased by 75% compared to the previous year. Adjusted EBITDA reached €272 million, up 27% year-on-year.
The PwC Cyprus Foundation on Thursday announced the successful completion of its Scale Up 2 Programme, a global PwC initiative designed to accelerate the growth of promising startups. This year, for the first time, the programme placed a strong emphasis on women-led startups. The company said that this aimed to acknowledged “the unique challenges faced by female entrepreneurs and equipping them with the […]
Deputy Minister of Research Nicodemos Damianou has called for increased public funding and private investments in cybersecurity for small and medium enterprises (SMEs), during an informal EU telecommunications ministers’ meeting. The call aligns with the EU’s broader strategy to bolster resilience against growing cybersecurity threats. The meeting also saw the ratification of the ‘Warsaw Call on cybersecurity […]
Cyprus’ Larnaca and Paphos airports achieved a milestone in passenger traffic during February, surpassing half a million passengers, according to the Transport Ministry. Specifically, the two airports welcomed a total of 535,423 passengers, representing an 8 per cent increase compared to the same month in 2024. This rise is particularly remarkable as February traditionally records the lowest passenger traffic of the year. […]
The Bank of Cyprus on Thursday announced that it has received the Quality Recognition Award from global financial services firm JP Morgan Chase. The award, which the Bank of Cyprus has won for the fourth year running, is given in recognition of excellent funds transfer processes under SWIFT. In its statement, the bank noted that […]
Since 2009, the Stelios Bi-Communal Awards for Business Co-operation have been supporting bi-communal entrepreneurship in Cyprus, providing financial assistance to dozens of Greek Cypriots and Turkish Cypriots. With the total value of the awards reaching €4.8 million, including this year’s sum of €410,000, the initiative has played a crucial role in the creation and expansion […]
The growth rate of the economy in 2024 is estimated at 3.4%, CySTAT reports. According to the first estimate for the year 2024, the growth rate of the economy in 2024 is positive and is estimated at 3.4% in real terms (volume measures), it notes. At current prices, the percentage change in Gross Domestic Product […]
The preliminary General Government fiscal results indicate a surplus of €1,507.8m for 2024. According to CySTAT, the preliminary General Government fiscal results, which are also prepared by CySTAT, indicate a surplus of €1,507.8m (4.5% of GDP) for the period of January-December 2024, as compared to a surplus of €631.5m (2% of GDP) that was recorded […]
Revenue from tourism recorded in December an annual increase of 17%, according to CySTAT. In a press release, it says that based on the results of the Passengers Survey carried out by CySTAT, revenue from tourism reached €86.9m in December 2024, recording an increase of 17% as compared to the corresponding month of the previous […]
Talent and infrastructure are the keys to global tech success Konstantin Zapolianski, Senior Investment Director at Zubr Capital, recently spoke to the Cyprus Mail about Cyprus’ growing potential as a destination for technology and digital industries. With the ICT sector contributing up to 15 per cent of the country’s GDP and generating approximately €4 billion in revenue in […]
newsroom 4 March 2025 Cyprus will begin implementing renewable energy storage systems in 2026 at the earliest, Energy Minister George Papanastasiou announced during parliamentary discussions on Tuesday, addressing the country’s growing need to manage excess green energy production. The planned battery storage infrastructure, to be installed between 2026 and 2030, will have a total capacity of 160 megawatts […]
Newsroom 05.03.2025 • 03:37 According to the first estimate for the year 2024 by the Statistical Service of Cyprus (CyStat), the growth rate of the island’s economy in 2024 was positive and is estimated at 3.4% in real terms. At current prices, the percentage change in gross domestic product amounted to 6.6%. Unmute Remaining Time -0:00Fullscreen Cyprus Economy
Tourism Deputy Minister, Kostas Koumis, is set to hold significant meetings in Berlin in the coming days, as he leads the Cypriot delegation at the leading travel trade show ITB, taking place at the Berlin Exhibition Grounds from 4 – 6 March 2025. A press release by the Ministry said Koumis has scheduled a number of meetings with […]