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 […]
Cypriot agency recognised for promoting investment in Mediterranean region Invest Cyprus on Thursday announced that it has being re-elected to the board of the ANIMA Investment Network. Launched in 2006 within the framework of the Barcelona Process-Euromed partnership, ANIMA has grown into a network of 70 member organisations across 20 countries. It has a team […]
Krabey is a drop-in-the-ocean private island just a sneeze away from the Cambodian coastal city of Sihanoukville. With a large Chinese population and a pandemic-hit smatter of unfinished buildings, the city itself is pricey but with great food and markets But the real draw is discovering the tropical and unspoilt beaches and jungle flora and fauna on […]
The Cabinet this week approved measures to expand labour market access for students and attract skilled professionals from abroad. These initiatives aim to address growing employment demands and boost economic growth, Labour Minister Yiannis Panayiotou announced on Tuesday. Following the cabinet meeting, Panayiotou said that “the council of ministers discussed the positive developments in the […]
Sebastian von Hardenberg to take over in January Bernhard Schulte Shipmanagement (BSM), a third-party ship manager headquartered in Limassol, on Thursday announced that CEO Ian Beveridge will step down on January 1, 2025. According to the announcement, Sebastian von Hardenberg, the company’s current CFO, will take over as CEO. Beveridge will remain CEO of the […]
EmissionLink, a Columbia Group company, is simplifying emissions management with advanced solutions to meet the upcoming FuelEU Maritime regulations, effective from January 2025. According to a statement by the company, these innovative measures aim to help maritime operators navigate the added complexities that FuelEU will bring to daily operations. Building on insights from the successful […]
Chairman Evgenios Evgeniou and CEO Marios Tannousis, met with Yousef Sultan Laram, Ambassador of the State of Qatar, and Khalifa Ahmad Al-Maadeed, Deputy Chief of Mission Invest Cyprus, represented by Chairman Evgenios Evgeniou and CEO Marios Tannousis, met with Yousef Sultan Laram, Ambassador of the State of Qatar, and Khalifa Ahmad Al-Maadeed, Deputy Chief of […]
Senior manager Potamitis discusses Deriv’s ambitious plans for Cyprus Online broker Deriv this week announced the expansion of the company’s Cyprus-based operations to Nicosia. Deriv, which opened its first Cyprus office in Limassol four years ago, said that the new office is set to open in mid-December and will be located at the Asteroid building. “Cyprus plays a crucial role in the […]
Half of Cyprus’ hotels are open this festive season, offering special programmes for Christmas and New Year, according to Thanos Michaelides, president of the Cyprus Hoteliers Association (Pasyxe). Speaking to the Cyprus News Agency (CNA), Michaelides siad that operating levels are consistent with last year. “Most of the open hotels”, he said, “are in Larnaca […]
The Paralimni-Deryneia Municipality has joined forces with the Cyprus Sustainable Tourism Initiative (CSTI) to promote sustainable practices in the tourism sector. According to an announcement released this week, this partnership aims to “enhance environmental awareness, protect natural resources, and boost sustainable development in the region”. “The collaboration forms part of efforts to strengthen sustainability within […]
The Cyprus Stock Exchange (CSE) announced on Wednesday the introduction of a market maker framework. The new framework, the CSE explained, aims at “enhancing the liquidity of listed securities and fostering a more competitive and flexible stock market”. In addition, this move is part of the CSE’s broader strategy for modernising its operations and aligning […]