Cyprus is set to sign an agreement on Friday with Hermes Airports to extend its management of Larnaca and Paphos international airports, alongside the launch of a major infrastructure expansion project at both facilities. The agreement, already approved by the Central Committee on Changes and Claims (CCCA), will extend Hermes Airports’ concession for an additional […]
Cyprus is set to sign an agreement on Friday with Hermes Airports to extend its management of Larnaca and Paphos international airports, alongside the launch of a major infrastructure expansion project at both facilities. The agreement, already approved by the Central Committee on Changes and Claims (CCCA), will extend Hermes Airports’ concession for an additional […]
The government has signed an agreement with Hermes Airports for a €170 million expansion of Larnaca and Paphos airports, officials said Monday. Work is expected to begin by March 2025. The infrastructure projects will take 30 months to complete at Larnaca airport and 27 months at Paphos airport. Hermes has secured financing from local banks […]
Cyprus’ Composite Leading Economic Index (CCLEI), maintained by the Economics Research Centre (CypERC) at the University of Cyprus, recorded an annual increase of 1.2 per cent in November 2024. This marks the third consecutive month of growth, following similar rises of 1.2 per cent in October and 1.0 per cent in September, according to recently […]
The Paphos Regional Board of Tourism (Etap) has welcomed the signing of a new agreement for the second phase of infrastructure development at Larnaca and Paphos airports. In a statement released following the signing of the new agreement, Etap expressed satisfaction that longstanding operational issues and strategic demands related to Paphos airport are finally being addressed. “For Paphos Airport, […]
Personalisation and sustainability key to marketing success Blackbook Agency founder and managing director Eleftheria Voskaridou spoke with the Cyprus Mail about the future of marketing and the key trends shaping the industry in 2025. With nearly two decades of experience in strategic marketing and communication, she has worked on a range of projects across Cyprus […]
The value of wholesale trade activities in Cyprus saw an increase in the third quarter of 2024 compared to the same period last year, according to the state’s statistical service. The Wholesale Trade Turnover Value Index (Sector 46) recorded a rise of 4.6 per cent during Q3 2024, marking a notable improvement over the third […]
This year’s passenger traffic at Larnaca and Paphos airports has exceeded 12 million people, Hermes Airports has said. “A new historical milestone has been achieved for the international airports of Larnaca and Paphos, as today, Friday, 20 December, passenger traffic exceeded 12 million total passengers for the first time,” Hermes noted in a press release […]
The Turnover Value Index of Wholesale Trade and of trade/repair of motor vehicles during the third quarter of 2024 recorded an increase of 4.6% compared to the corresponding quarter of the previous year. According to figures released by CySTAT, for the same quarter, the Turnover Value Index of Sales and Repair of Motor Vehicles recorded an increase […]
Cyprus has pledged €7.16 million to the International Development Association (IDA) during a meeting held in Seoul, South Korea, on December 5, 2024. The commitment is part of a broader fundraising initiative for the 21st replenishment of the organisation’s resources. According to a statement, a representative of Cyprus announced the country’s contribution in an online […]
Invest Cyprus on Monday announced the signing of a memorandum of understanding (MoU) with the Cyprus Space Exploration Organisation (CSEO). The agency, tasked with the purpose of driving foreign investment to Cyprus, said that the MoU represents “another significant step into the space age” for the island. “This collaboration strengthens Cyprus’ position as an international hub for innovation, investment, and […]
Tourist arrivals in Limassol are rising, offsetting the loss of the Russian market, according to Anthi Theocharous, VP of Tourism at the Limassol Chamber of Commerce (Evel). “Limassol absorbed a large percentage of the approximately 800,000 Russian arrivals annually in Cyprus,” Theocharous said. She added that “it is very encouraging that this loss has been […]
In recent years, Cyprus has been positioning itself as a model of economic resilience and opportunity in the Eastern Mediterranean, achieving remarkable milestones in 2024 that solidify its position as a thriving investment destination. Projected to achieve the third-highest growth rate in the eurozone, we’ve coupled this progress with a decline in inflation and an […]
The Central Bank of Cyprus (CBC) has revised its GDP growth forecast for 2024 upwards by 0.2 percentage points, now expecting growth of 3.7 per cent. The revision is attributed to stronger domestic demand, with private consumption playing a central role, supported by the ongoing resilience of the Cypriot economy. However, the CBC also revised its forecasts for 2025-2026 downwards, due to increased imports required to meet the higher domestic demand. […]
Cyprus’ adoption of the 15 per cent minimum tax for multinationals entails both challenges and opportunities, according to Stelios Violaris, Tax Advisory Services Partner at PwC Cyprus. Violaris also highlighted the fact that approving the new law is beneficial to Cyprus’ image, helping to attract new multinational groups, while also generating more tax revenue for the state. The […]
The newly-built Dara Sakor International Airport in southwest Cambodia’s Koh Kong province is set to begin operations for domestic charter flights next week, a civil aviation spokesperson said on Friday. Cambodian State Secretariat of Civil Aviation (SSCA)’s Undersecretary of State and Spokesperson Sinn Chanserey Vutha said the first domestic test flight will be held between […]