“The Cyprus International Businesses’ Association (CIBA) always supported the effective overhaul of the Republic of Cyprus’ Tax Framework in order to increase competitiveness of the Economy, always in line with EU Law and the procedural as well as substantive pre – requisites under the obligations towards EU,” Andreas Pishias says, speaking on behalf of CIBA’s […]
BusinessTuesday 04 March | 13:340 Comments By Kyriacos Nicolaou Share: Cyprus has recorded a surplus of €1.5 billion for 2024, equivalent to 4.5 per cent of GDP, according to preliminary results released on Tuesday by the state statistical service. This marks a sharp increase from the €631.5 million surplus recorded in 2023, which accounted for 2 per cent of GDP. Total […]
Tourism revenue in Cyprus saw a significant year-on-year increase of 17 per cent in December 2024, according to a report released on Tuesday by the state statistical service. Based on data collected from the traveller survey, which the service processes to produce its findings, tourism earnings for the month reached €86.9 million, up from €74.3 million in December 2023. For the entire year of […]
The Cyprus International Businesses Association (CIBA) is currently analysing the proposed tax reform, according to an official statement. Following its review, the statement said, CIBA will present its views and recommendations to president Nikos Christodoulides and Finance Minister Makis Keravnos. “These proposals will be made public immediately after submission,” the association said. Moreover, the association […]
Cypriots are heading to the countryside today to celebrate Green Monday, a public holiday that marks the start of Lent with fasting foods and outdoor festivities. The day is rooted in both religious and cultural traditions, bringing together families and friends for picnics, games and kite-flying. Municipalities and communities across the island are organising events featuring […]
Emirates announced on March 3 that it will introduce a new flight route between Dubai, United Arab Emirates, and Siem Reap province in Cambodia. This initiative aims to boost both tourism and trade between the two countries. Starting June 3, Emirates will operate three weekly flights on Tuesdays, Thursdays, and Saturdays from Dubai to Siem […]
The city of Limassol is set to gain an advanced private healthcare facility through a substantial €50 million investment, pending final regulatory approvals from local authorities. C & SO Medical Properties Ltd has submitted all necessary documentation and studies for the proposed American Medical Center, which would bring specialised medical services to the city, complementing the company’s existing facility […]
Two major players in the renewable energy sector have reached a significant agreement for the sale and supply of solar-generated electricity, sources told Phileleftheros. HAFFNEVE HOLDING LIMITED, owned by the Zorpas Group, has agreed to sell 23 megawatts of photovoltaic parks to Bioland, a key producer and supplier of green electricity. The deal is pending approval […]
Famagusta district’s first-ever coordinated online tourism campaign promoting it to foreign markets ended 2024 with impressive results, surpassing all expectations and laying the groundwork for an even more dynamic follow-up in 2025. The campaign, from April to October 2024, was the largest collaborative effort to date, with 150,000 euros raised through partnerships between the local […]
The Mall of Cyprus on Friday announced the sale of its Annex 3 office building to Karakyr Properties Ltd, a member of the E-Cars Group, for €4.6 million. It should be noted that Karakyr Properties was already the active tenant of the building. According to the company, the board of directors had long considered Annexes 3 and 4, located next to the Mall of […]
Deputy tourism minister Costas Koumis is heading to Berlin for a series of contacts with members of the German industry in addition to attending the large trade fair ITB, which runs from Tuesday to Thursday. He will meet representatives of executives of tourism organisations and airlines that operate tourism programmes and routes from Germany to Cyprus, in […]
Hellenic Bank is expected to finalise its acquisition of CNP Cyprus Insurance Holdings Limited by the first quarter of 2025. The deal, valued at €182 million, is still pending regulatory approvals, according to preliminary results released by the bank. On November 28, 2024, the bank confirmed that the Cyprus Competition Commission had approved the transaction […]
The legal merger between Eurobank and Hellenic Bank is expected to be completed within the first quarter of 2025, with the final step, the operational merger, scheduled to take place over the following two years. According to Eurobank Holdings’ latest financial results, the bank recorded a €99 million contribution to its net profits from acquiring […]
Here are the top business stories in Cyprus from the week starting February 24: Natural gas production from Block 6 of Cyprus’ Exclusive Economic Zone (EEZ) could commence within 2 to 2.5 years, according to Constantinos Hadjistassou, Professor at the School of Sciences and Engineering, Department of Engineering at the University of Nicosia. He described […]
Hellenic Bank is expected to finalise its acquisition of CNP Cyprus Insurance Holdings Limited by the first quarter of 2025. The deal, valued at €182 million, is still pending regulatory approvals, according to preliminary results released by the bank. On November 28, 2024, the bank confirmed that the Cyprus Competition Commission had approved the transaction […]
The best English-speaking countries to retire to, where you won’t need to learn a second language as you enjoy an exotic retirement overseas. Looking to move overseas in your golden years, but concerned about finding an English-speaking country to retire to? Moving or retiring overseas is an exciting prospect, but it does come with some challenges. For […]