Transport minister Alexis Vafeades said there is significant development potential for the former Larnaca airport site, stating the government wants to avoid letting the property remain unused for longer. The minister made the comments during a visit to the old airport facility on Friday with Larnaca Chamber of Commerce and Industry (LCCI) president Dr Nakis […]
Here are the top business stories in Cyprus from the week starting January 13: The need for enhanced collaboration between public authorities and private enterprises was emphasised during the recently held ‘Beyond Sea & Sun’ conference. This event, organised by Hermes Airports with the support of Hellenic Bank, focused on strategies to transform Cyprus into a year-round […]
The government is aiming for investment at and the possible future development of the old Larnaca airport, Transport Minister Alexis Vafeades said on Saturday. Speaking during a visit to the old airport alongside Larnaca chamber of commerce and industry (Evel) chairman Nakis Antoniou, he said the visit’s purpose was “to see what prospects there are, […]
The messages for tourism in 2025 are positive, with a better flow of bookings compared to last year, according to the President of the Cyprus Hotel Association, Thanos Michaelides. Speaking to the Cyprus News Agency (CNA), Michaelides said that observing the flow of bookings for 2025, it seems that there is interest in making reservations earlier, […]
Tourist arrivals in Cyprus in 2024 exceeded four million for the first time, recording a historic value with 4,040,200 arrivals, compared to 3,845,652 in 2023, marking a significant annual increase of 5.1%. The previous record for arrivals was recorded in 2019 and was 3,976,777. In addition, according to CySTAT, tourist arrivals in December 2024 set […]
The Deputy Ministry of Tourism on Friday announced the second call for proposals under its €3 million grant scheme to boost tourism across Cyprus. The scheme aims to support the modernisation and competitiveness of hotels and tourist accommodations in rural, mountainous, and other remote areas. This initiative aims to strengthen tourism infrastructure by offering financial […]
The environmental authority has approved the €60 million American Medical Centre Limassol / American Heart Institute project, according to an announcement released on Friday. “The approval by the Environmental Authority lays the foundation for a model private hospital in Limassol, setting a new benchmark for the health sector based on the highest international standards,” said […]
The 17th International Shipping Conference took place in Athens this week, with the central theme being the bridging of the shipping industry with capital markets. Co-hosted by Maritime Economies and UPoilTankers and Trading Inc., the event attracted 244 industry professionals and featured 31 speakers alongside 34 sponsors, enriched by significant insights from Cyprus’ maritime sector […]
Limassol’s Ariel Cinema, a historic site long out of use, is set to be transformed into a 19-storey mixed-use tower following approval from the environment department. Dating back to 1966, the cinema was located at the intersection of Makariou and Agia Zoni streets and featured separate theatres for winter and summer viewings, making it a […]
The outlook for Cyprus tourism in 2025 is encouraging, with booking flows surpassing those of the previous year, according to president of the Cyprus Hoteliers Association (Pasyxe) Thanos Michaelides. Michaelides stated that early bookings for 2025 are showing stronger interest compared to the same period in 2024. He explained that “while 2024 was considered a […]
A broad meeting under the President of the Republic, on attracting quality investments to Cyprus, was held at the Presidential Palace, while a discussion was also held on the topic of encouraging successful young overseas Cyprus to return to the island. As stated by Government Spokesperson Konstantinos Letymbiotis, the meeting held on the topic of […]
Deputy Minister of Shipping Marina Hadjimanolis highlighted the need to enhance the competitiveness of the Cyprus maritime flag during a two-day visit to Athens. On the first day of her visit, Hadjimanolis chaired the initial regular meeting of the advisory committee for strengthening the competitiveness and quality of the Cyprus flag. The committee deliberated on […]
The Central Bank of Cyprus (CBC) aims to maintain stable prices and a sound financial system, according to governor Christodoulos Patsalides. Speaking at the 12th Banking Forum and Fintech Expo on Thursday, Patsalides said that “by embracing the digital economy, ensuring robust governance, and addressing climate change, we are positioning Cyprus as a forward-looking financial hub in Europe“. “Together, we will navigate […]
Paphos tourism board calls for state support to increase beds during winter The outlook for Cyprus tourism in 2025 is encouraging, with booking flows surpassing those of the previous year, according to president of the Cyprus Hoteliers Association (Pasyxe) Thanos Michaelides. Speaking to the Cyprus News Agency (CNA), Michaelides stated that early bookings for 2025 are showing […]
Salamis Tours (Holdings) Public Ltd has issued assurances regarding its employment policy amidst a potential acquisition by E.V.H. Investments Ltd. E.V.H. Investments Ltd has been steadily increasing its stake in the company, aiming for a potential full acquisition. The company confirmed that no adverse effects on its operations or interests would arise if E.V.H. proceeds […]
The first of three state projects announced for Larnaca Marina following the termination of the previous contractor’s agreement has officially entered implementation phase. Transport Minister Alexis Vafeades announced after Wednesday’s Cabinet meeting that €1.5 million has been approved for dredging and renovation works at Larnaca Marina. The works are deemed essential for the marina’s safe […]