London-based investment fund Helikon Investments Limited has raised its stake in the Bank of Cyprus, according to an announcement by the bank. The Italian investment fund disclosed that its voting rights, corresponding to shares in the bank, now amount to 4.04 per cent of the share capital, up from the previous 2.04 per cent. Bank […]
The Ministry of Energy has announced a call for proposals under the grant scheme for energy upgrading and boosting the competitiveness of large businesses, totalling €17 million, funded by the European Union (EU), Recovery and Resilience Plan (RRP). According to a statement by the Ministry, €10 million comes from the new EU REPowerEU Plan, through the corresponding […]
President Nikos Christodoulides on Tuesday addressed the Cyprus Employers and Industrialists Federation (Oev), during the federation’s annual general meeting, where he reiterated the government’s support for the local business communication. “Any government cannot fully develop the potential and prospects of the economy without the active participation and cooperation of businesses,” he said. “Businesses are the driving force […]
Shipping Deputy Minister Marina Hadjimanolis on Tuesday set off on a visit to Guangzhou, China, in order to partake in the naming ceremony of the newly built cargo ship ‘AAL Limassol‘, which is owned by AAL Shipping, a subsidiary of the Schoeller Holdings group, under the leadership of Heinrich Schoeller. In conjunction with this event, AAL Shipping […]
Set against Cyprus’ rapidly growing role as a centre for technology and innovation, the 2nd Cyprus – The New Global Tech & Innovation Hub Summit is ready to draw international attention once again. Scheduled for April 25 and 26, this international conference will take place in the heart of Cyprus, a country quickly establishing itself as a […]
Cypriot firm Ask Wire, which provides integrated real estate profiling and data analytics services, has been included in the third edition of the Deloitte Technology Fast 50 list for the Middle East and Cyprus. The company was featured in two categories, one acknowledging rising stars, and the other identifying companies who score well in terms of having […]
When the team behind the very successful Oniro by the Sea decided to launch another restaurant, it would have been straightforward for them to repeat the same winning formula. However, with the opening of Onar in the heart of the old town of Paphos, this is not what they have done. Instead, they created a […]
Over half of the domestic wine market is covered by Cypriot wines, the House commerce committee heard on Tuesday. The agriculture ministry estimates that 55 per cent of wines available in Cyprus are made locally, with the rest coming from European and third countries. This means that it is much easier for local wineries to focus […]
Real chippy draws in Larnaca crowds Sometimes you just don’t know what you fancy for lunch and can’t be bothered to decide what to have and prepare it. My father and I reeled off different options to one another and each had a reason why the other’s suggestion was no good. I was starting to […]
Minister of Labour and Social Insurance Yiannis Panagiotou has announced that the social partners (Trade Unions and Employers) have agreed on his proposal over the issue of participation of third-country nationals in the Cyprus labour market. The three-point agreement paves the way for the discussion aiming to shape an “agreed content” regarding the updating of […]
Cooperation between the Ministry of Finance and the Central Bank of Cyprus is necessary to keep the country’s economy in the right framework of financial stability, especially under the current geopolitical conditions, Finance Minister Makis Keravnos has said. He was speaking on 22 April, following his meeting with the newly appointed Governor of the CBC, […]
The archaeological site at the Paphos gate on the western edge of Nicosia’s walled city is now open for visitors. “Through the antiquities department’s excavations in the area, the importance of the gate is one of the main access points to Nicosia’s walled city,” Deputy Culture Minister Vasiliki Kassianidou said. She said the gate had “timeless […]
The Old municipal market of Nicosia has been getting a revamp. Recently renovated as the CYENS Centre of Excellence took hold of the downtown building, the market is now ready to reveal its new look. A grand opening event on Tuesday will bring together politicians, performers and the public. Almost 60 years after its construction, […]
The ongoing debate over multiple pensions for former and current state officials has taken center stage in Cyprus, with the Cypriot government facing criticism from political parties and the country’s Audit Office. Finance Minister Makis Keravnos convened a meeting with parliamentary parties to address the issue, but only representatives from two parties attended. The absence […]
Cyprus ended 2023 with a fiscal surplus of 918.7 million euros, the country’s Statistical Service (CyStat) said on Monday. However, the country still has a significant debt of €23.03 billion, which is about 77.3% of its total economic output. On the revenue side, Cyprus saw a big boost in the money it collected. Total revenue […]
Travel Expo Cyprus 2024, organised by the Association of Cyprus Travel and Tourism Agents (ACTA), kicked off during the weekend, April 19 to 21, with a wave of optimism for the new tourist season. The exhibition, attended by 45 exhibitors, was inaugurated at the state fair grounds in Nicosia. The event saw the joint inauguration by the Deputy […]