By Associated PressMANILA, Philippines — Philippine President Ferdinand Marcos Jr. thanked Cambodia’s king on Tuesday for granting a royal pardon last year to 13 Filipino women who were convicted of illegally serving as surrogate mothers in the Southeast Asian kingdom. Marcos expressed his gratitude in a meeting with Cambodian Prime Minister Hun Manet , who […]
The Secretary General of the CCCI, Philokypros Roussounides, expects steadily rising growth rates for Cyprus in 2025, while the Director General of OEB, Michael Antoniou, says fluid conditions in the global economy make anticipating the course of the Cypriot economy risky at this stage, while also noting, however, that Cyprus has proven that it has […]
The share of renewable energy sources used in transport in the EU increased in 2023 compared to 2022, while remaining essentially unchanging in Cyprus, according to data released by Eurostat. In 2023, the share of renewable energy sources in transport reached 10.8% at EU level, a 1.2 percentage points increase from 2022 (9.6%). Meanwhile in […]
Limassol continued to lead Cyprus’ high-value real estate market in 2024, accounting for eight of the ten most expensive property transactions, with a total value of €176.8 million, according to real estate analytics firm Ask Wire. The highest-value transaction of the year was a €39.3 million apartment development in Polemidia, Limassol. The only other districts […]
4 million visitors, €3 billion revenue in 2024 Cypriot tourism has recovered from the challenges of the previous three years, including the pandemic and the loss of the Russian market, according to president Nikos Christodoulides. Speaking during the annual general assembly of the Association of Cyprus Tourist Enterprises (Stek), the president explained that the government’s priority will now shift to […]
Eurobank announced on Tuesday that it has completed the acquisition of an additional 37.5 per cent stake in Hellenic Bank, bringing its total shareholding to 93.47 per cent. The bank has also launched a mandatory public offer to acquire the remaining shares of Hellenic Bank, aiming for full ownership. The transaction, finalised on February 10, 2025, after obtaining the […]
Trade and tourism will dominate the agenda during Prime Minister Hun Manet’s two-day visit to the Philippines beginning today, The Manila Times reported. Mr Hun Manet will also be discussing matters related to defence along with regional and multilateral cooperation with Philippines President Ferdinand Marcos Jr, the newspaper said, quoting an official Malacanang statement. Malacanang […]
The Ministry of Energy has today published guidelines for its €35 million energy storage scheme, previously approved by the Council of Ministers, aimed at promoting energy storage solutions across the country. The scheme, funded through the ‘THALIA 2021-2027’ Cohesion Policy Programme and the Just Transition Fund, targets approximately 150MW of storage capacity with total storage capabilities of […]
Passenger traffic at Larnaca and Paphos airports recorded a 6.81% increase in January 2025 compared to the same month in 2024, according to a press release by the Ministry of Transport, Communications and Works on Monday, thanks to a 12.7% increase recorded in Larnaca and despite a 7.24% drop at Paphos Airport.
S&P Global Ratings has upgraded the long-term issuer credit rating of Bank of Cyprus Public Co. Ltd. (BoC) to ‘BBB-’ from ‘BB+’, reflecting improvements in the Cypriot banking sector’s funding stability. “Cypriot banks have further reduced their dependence on less stable non-resident depositors and improved their loans-to-core-deposits ratio, increasing funding stability in Cyprus’ banking system,” the credit agency stated. The outlook for […]
The Cypriot village of Pissouri will be honoured as one of the world’s best tourism villages at a celebration event on 15 February, following its recognition by the World Tourism Organization (UNWTO). The accolade, shared with fellow Cypriot village Kalopanayiotis, acknowledges Pissouri’s dedication to sustainable tourism development and promotion of local products, traditions, and natural […]
Cyprus may be famed for sun, sea and “sheftalia”, but it is also home to a dynamic art scene. Come late spring 2025, the Mediterranean island will open a new chapter in its creative journey: enter VIMA, Cyprus’s first international contemporary art fair. “The time has come.” This was the sentiment Lara Kotreleva heard over […]
The Bank of Cyprus on Friday announced that it has introduced a new operational model for its branch network. According to the bank, this aims to enhance customer service through a combination of modernisation, efficiency, and personalised support. The updated structure includes four distinct types of branches designed to cater to different banking needs. Under […]
Cyprus’s new housing incentive programme has secured its first developer, with CYFIELD signing an agreement to build an apartment complex in Strovolos, the Cyprus Land Development Corporation (CLDC) announced on Friday. The project will utilise the Special Housing Incentive for Affordable Housing Production, which allows developers to exceed standard building coefficients by 45 percent. Under […]
The environment department has officially approved the expansion plans for both the Larnaca and Paphos international airports, it emerged on Thursday. The approval follows an agreement signed on December 23, 2024, extending Hermes Airports’ management until 2033, a move that paved the way for major infrastructure upgrades. The deal resolved long-standing financial disputes and facilitated the launch of Phase 2 […]
Cyprus has long been a shipping powerhouse, but its role is evolving fast to meet the needs of the digital age, according to Christoph Stork, CEO of Cyprus-based bunker trading platform XMAR. “When it comes to global shipping, Cyprus is bigger than it looks,” Stork told the Cyprus Mail. “It has built a reputation as one […]