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 […]
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Tor Properties is transforming real estate in Cyprus by creating exceptional projects in prime locations. With a focus on modern comfort and convenience, each project is designed to offer a contemporary lifestyle complemented by superior facilities. Through innovation and thoughtful planning, Tor Properties delivers both practicality and premium living and working, contributing to vibrant, well-connected communities. Shinko Residences: […]
Hellenic Bank on Thursday reported a net profit of €383 million for the full year 2024, highlighting its strong financial performance and solid capital position. “2024 was a landmark year for Hellenic Bank in terms of financial performance and ownership structure,” said chief executive officer Michalis Louis. “The bank achieved strong financial performance in 2024 with a net profit of €383 million, up […]
The Famagusta branch of the Cyprus Hoteliers Association (Pasyxe) together with the local tourism board (Etap), celebrated the successful conclusion of their online campaign ‘Live Unforgettable Moments’. The campaign, which ran from April until the end of October 2024, has been deemed as “a major success”, reaching over 4.5 million unique users and marking a significant first in […]
Limassol named top startup city in Southern Europe Cyprus has leapt nine places in the 2024 StartupBlink Ecosystem Index, marking it as the fastest-growing startup ecosystem within the European Union, the Research and Innovation Foundation (RIF) has reported. According to the RIF, this jump showcases Cyprus’ rising prominence in this space, especially among countries with populations under 2 million, […]
Cypriot startups are set to receive a significant boost with €26 million in funding secured by venture capital firm 33East in partnership with the European Investment Fund (EIF). The fund aims to stimulate investment in the regional market and enhance its global competitiveness, Vice-President of the European Investment Bank (EIB) Kyriakos Kakouris said at its […]
A global advocate for heritage protection and preservation, Her Highness Princess Dana Firas of Jordan was given a tour of The Cyprus Museum in Nicosia during a visit to the island. Deputy Minister of Culture Dr Vasiliki Kassianidou (pictured above right with the Princess), who is also an archeologist, carried out the 26 February tour. […]
The Cyprus property market displayed stabilising trends in the fourth quarter of 2024, according to the RICS Cyprus Property Price Index by KPMG Cyprus, which tracks real estate price trends across all districts. The data revealed moderate increases in all property categories nationwide during the final quarter of last year. When compared to the third […]
President Nikos Christodoulides this week said that Cyprus’ industrial sector’s “vast potential” has yet to be fully exploited. Speaking at the official dinner of the Agios Athanasios Industrialists’ Association in Limassol on Tuesday evening, Christodoulides said that the government is revising its industrial policy, focusing on internationalisation and expanding Cyprus’ industrial presence abroad. Addressing attendees, including Transport Minister Alexis Vafeades, […]
DMA spurs 15-fold growth Cyprus-based Aloha Browser on Wednesday reported an impressive surge in European downloads, experiencing up to 15-fold growth in the year following the implementation of the EU’s Digital Markets Act (DMA). Founder of Aloha Browser, Andrew Frost Moroz, attributed the company’s rapid growth to both regulatory changes and Cyprus’ conducive business environment. “Cyprus’ progressive business environment […]
Invest Cyprus, in collaboration with the Municipality of Nicosia, organised a networking event titled “Why Nicosia” on 25 February, aimed at bringing together the capital’s investors and institutional stakeholders to network and exchange views. The event was a platform to showcase Nicosia’s unique selling points as a premium destination for foreign direct investment and the […]
The Cyprus Securities and Exchange Commission (CySEC) on Tuesday marked ten years of social responsibility efforts, reinforcing its commitment to community support and sustainable development. According to an announcement, the commission has implemented a number of targeted initiatives over the past decade, “aimed at strengthening social cohesion and assisting vulnerable groups”. “We do not view corporate social […]
Invest Cyprus, in collaboration with the Nicosia Municipality, hosted a networking event this week titled ‘Why Nicosia’, aiming to connect investors with key institutional stakeholders. According to an announcement released on Tuesday, the event provided a platform for networking and exchanging views, reinforcing Nicosia’s position as a prime destination for foreign direct investment and corporate […]
The agreement for the sale of Ermes Department Stores’ investment in Superhome Centre DIY was finalised on Monday. In a statement issued by Ermes today, following its previous announcement on January 31, 2025, the company informed shareholders and the investment community that the transaction for the disposal of its stake in Superhome Centre (DIY) Limited […]