A contract for works that will enhance the production capacity of the Asprokremmos refinery by an additional 10,000 cubic metres per day over a period of 12 months, has been signed by the Agriculture Ministry’s Water Development Department and the company Mekel Limited. According to an announcement by the Department, the contract for the ‘Supply, […]

Tourism revenue showed a large increase of over €206 million or 7.1% for the period January – November 2024, far exceeding tourism revenue for the entire 2023. Revenue in the first 11 months of 2024 amounted to €3.12 billion, compared to €2.91 billion in the corresponding period of 2023. Tourism revenue for the entire 2023 had […]

Cyprus’s tourism revenue surged past 3 billion euros in the first 11 months of 2024, surpassing the entire previous year’s earnings and setting a new industry benchmark, the Statistical Service reported on Tuesday. Tourism revenue reached 3.12 billion euros between January and November 2024, marking a 7.1 percent increase compared to the same period in […]

President Christodoulides has emphasised that “serving the public interest determines all of our decisions” as he announced the government’s plans to modernise public works legislation and introduce a new electronic system to enhance transparency and efficiency in procedures. The statement came as he detailed the administration’s firm stance on terminating problematic contracts and addressing delays in […]

The Cyprus Securities and Exchange Commission (CySEC) on Thursday hosted the plenary meeting of the International Organisation of Securities Commission’s (IOSCO) European Regional Committee (ERC) in Nicosia. The ERC is one of four regional committees established by IOSCO to address regional issues related to securities regulation. The event attracted over 52 participants, with the ERC representing 57 member authorities. […]

CFA Society Cyprus and the Cyprus Compliance Association (CCA) have announced the signing of a memorandum of understanding (MoU). According to the announcement, this aims to “elevate transparency and professional standards in Cyprus’ financial markets“. The agreement, sealed by Andrea Moundi Savvides and Nikos Potamaris, presidents of the CCA and the CFA Society Cyprus respectively, was enacted before […]

Logistics and tech company BOX NOW, which has set new standards in last-mile delivery across Greece, is also rapidly expanding into Cyprus. With substantial backing from Emma Capital Group, BOX NOW has quickly carved out a strategic niche within Greece’s e-commerce sector, focusing particularly on enhancing last-mile delivery solutions. Following an investment exceeding €25 million, […]

Affordable cities are gaining momentum in real estate as shifting work trends and rising demand reshape the market landscape, according to Ask Wire CEO and co-founder Pavlos Loizou. In a piece of analysis released on Thursday, Loizou said that while traditional property powerhouses such as Athens, Thessaloniki, and Limassol continue to attract attention, smaller cities […]

Cambodia’s insurance industry reported a gross premium of $356.4 million in 2024, an increase of 3.5 percent from $344.2 million the previous year, according to a report by the Insurance Regulator of Cambodia (IRC) released on Wednesday. The growth was driven by 18 general insurers, 14 life insurers, seven micro-insurance companies, and one reinsurance firm. […]

The Cyprus Composite Leading Economic Index (CCLEI) recorded a year-over-year increase of 2.3% in December 2024, following the year-over-year increases of 2.2% and 2.0% recorded in November and October 2024, respectively. The CCLEI maintained its upward trajectory in December 2024, with the majority of its leading economic variables (namely, the Cyprus ESI, tourist arrivals, credit […]

The decision of the Halloumi Monitoring Committee to extend the 15% quota on mixed Halloumi until the end of February proves that it is fulfilling its mission to the fullest. One of its goals is to safeguard exports of PDO Halloumi, with the President of the Republic and the Minister of Agriculture upholding their commitment […]

Available rental properties across Cyprus have reached 4,484 units, with apartments averaging €1,803 and houses €3,249 monthly, according to new data released by Landbank Analytics for January 2025. The analysis reveals a significant regional price disparity, with Limassol commanding the highest rents. The city accounts for 45% of available apartments nationwide, with an average monthly […]

The Cyprus Composite Leading Economic Index (CCLEI), compiled by the Economics Research Centre of the University of Cyprus (CypERC), recorded a year-on-year increase of 2.3 per cent in December 2024. This marks a steady upward trajectory, following growth rates of 2.2 per cent in November and 2 per cent in October 2024, according to revised […]

To tackle traffic congestion and improve urban development, the municipalities of Limassol, Amathus, and Polemidia have teamed up on a collaborative spatial planning initiative, aimed at enhancing the city’s organisation while preserving the environment.  The Limassol Chamber of Commerce & Industry (Evel) has shared comments by Amathus mayor Kyriakos Xydias, who said that “the initiative […]

A host of capital hopefuls, from universities to major brands will be expecting to make a splash in the city centre over the coming months, marking a new era for one of the country’s most historic and significant commercial areas. Investor interest must surely be the most accurate indicator of development and the heart of […]

The last Year of the Snake was 2013 – and we all know what that brought! Are you a Blunt-Nosed Viper or a Cyprus Whip-snake? Perhaps you’re one of the island’s rarer species: the Coin Snake, Dwarf Snake, or Worm Snake (an elusive ophidian that lives quietly underground). Either way, there’s one criterion that will determine […]