Financial literacy and robust regulation are essential to strengthening household financial behaviour, according to a number of experts at a conference organised by the Central Bank of Cyprus (CBC) and the University of Cyprus’ Economics Research Centre (CypERC). Opening the conference, CBC governor Christodoulos Patsalides outlined Cyprus’s national strategy for promoting financial literacy. He stressed […]

Eurobank Cyprus on Thursday announced the appointment of Andreas Petsas as its new Chief Executive Officer (CEO), following a decision by the bank’s board of directors. According to the announcement, the appointment was finalised during a meeting held on September 17, 2024, in Nicosia. Petsas, who has been with Eurobank Cyprus since 2007, most recently […]

The Limassol Marina on Wednesday announced that it is celebrating its tenth anniversary through a number of special events. Since its launch, Limassol Marina has established itself as an award-winning, world-class destination, blending luxurious seaside living with vibrant commercial and cultural life.  As part of its anniversary celebrations, six well-chosen events are scheduled to reflect […]

Tourist arrivals in Cyprus reached an all-time high for August this year, with 554,923 visitors, surpassing the previous record set in August 2019 by 0.20%, according to data released by the Cyprus Statistical Service (CyStat) on Tuesday. Compared to August last year, there was an 8.5% increase. From January to August 2024, a total of […]

Eurobank and the Indian Chamber of Commerce (ICC) this week signed a Memorandum of Understanding (MoU) at the Indian Embassy in Athens. The agreement, signed on September 16, aims to establish the India-Greece-Cyprus Business Council (IGC), marking a significant step towards strengthening trilateral business ties. The MoU was signed in the presence of the ambassador […]

The Cyprus Borrowers Association (Syprodat) and Central Bank of Cyprus (CBC) governor Christodoulos Patsalides on Tuesday discussed the need for sustainable loan restructurings, as well as the issue of lending rates. In a statement to the Cyprus News Agency (CNA), Syprodat president Costas Melas described the meeting as constructive. He said that both sides agreed […]

United Kingdom remains key source of tourism, followed by Israel, Poland Tourist arrivals to Cyprus reached 554,923 people in August 2024, an 8.5 per cent increase compared to 511,387 in August 2023, according to a report released on Tuesday from the Cyprus Statistical Service (Cystat). From January to August 2024, a total of 2,758,627 tourists […]

Eurobank’s recent acquisition of a majority stake in Hellenic Bank, Cyprus is set to enhance its credit profile and geographic diversification, according to a statement by credit rating agency Moody’s. Moody’s noted that Eurobank’s newly acquired 55.9 per cent stake in Hellenic Bank, the second-largest bank in Cyprus, adds to its existing presence in the […]

Research Deputy Ministry official Georgios Komodromos on Tuesday said that digital transformation is crucial in improving the country’s competitiveness and economic growth. In a statement, Komodromos outlined the government’s vision for Cyprus to become a regional centre for technology and innovation, saying that Cyprus is currently in its strongest position to pursue this goal. “The […]

Cyprus experienced a 4.8 per cent increase in hourly labour costs during the second quarter of 2024 when compared to the same period from last year. According to a report from the Cyprus Statistical Service, which utilised preliminary data, the rise in labour costs was attributed to increases in both wages and non-wage costs. Specifically, […]

Cyprus’ competition watchdog has ruled that competition in the country’s banking market remains healthy, approving Eurobank’s acquisition of a 26.1 per cent stake in Hellenic Bank. With the transaction, Eurobank now controls 55.9 per cent of Hellenic Bank shares. The Commission for the Protection of Competition’s (CPC) decision, which was made public in the Official […]

While the construction of the new Paphos-Polis Chrysochous highway has faced delays, a parallel issue is causing concern among local residents and stakeholders. The project’s impact on land values and property prices in areas along the new highway’s route is becoming increasingly central to discussions. Landowners and developers in the construction and real estate sectors […]

Cambodia has introduced a new online platform, Cambodia e-arrival, aimed at simplifying the arrival process for international travellers. This innovative system is expected to bolster tourism, attract investors and enhance security in the digital age, tourism insiders said. The Cambodia e-Arrival is a new system designed to make the process easier for arrival to the […]

The scale of the Cypriot economy has already exceeded the current demographic potential of the country, Minister of Labour and Social Insurance, Yiannis Panayiotou has said. He was addressing a conference in Nicosia on technical and vocational education and its connection with the labour market. “The size of the Cypriot economy has already exceeded the existing demographic […]

Total employment in the broad public sector reached 75,714 in the second quarter of 2024, marking an increase of 2,388 persons (3.3%) compared to the same period in 2023, CySTAT has announced. Employment in the General Government sector was 70,011, while Publicly Owned Enterprises and Companies employed 5,703 people. Within the General Government, which includes […]

The job vacancy rate for the second quarter of 2024 stood at 3.0%, consistent with the rate recorded in the first quarter of 2024 and slightly higher than the 2.9% rate recorded in Q2 2023. According to data released by CySTAT, the number of job vacancies in the second quarter of 2024 rose to 13,778, […]