President Nikos Christodoulides has announced the establishment of the Business Activity Service Centre, a centralised hub designed to assist both Cypriot and foreign entrepreneurs. “The philosophy behind our decision is to create a central point of contact for Cypriot and foreign investors who wish to operate or expand their activity in our country, so that […]
The Cypriot economy showed robust growth across key sectors during January-October 2024, according to a report released on Thursday by the Cyprus Statistical Service (Cystat). The report showed that manufacturing output rose by 3.3 per cent during the January-September 2024 period compared to the same period in 2023. Similarly, approved building permits reached 1,627,500 square metres in […]
New business activity support centre announced President Nikos Christodoulides on Thursday reiterated the government’s commitment to bolstering Cyprus’ construction and real estate sectors. Christodoulides’ comments were delivered during his speech at the annual general assembly of the Cyprus Property Developers Association. The event was held at the headquarters of the Employers and Industrialists Federation (Oev) in Nicosia. “The construction […]
Bank of Cyprus has introduced the QuickPay QR Code, a new feature enabling customers to send and receive payments quickly and securely through the BoC Mobile App using only their mobile phones. The bank said that this is designed to meet customer needs, with this service aiming to simplify transactions. Users can now send and […]
Cyprus is set to introduce a new AI-powered digital assistant on its gov.cy platform from 18 December 2024, offering citizens round-the-clock access to government information services. Deputy Minister for Research, Innovation and Digital Policy, Nicodemos Damianou, announced the initiative as part of the broader “Digital Citizen” project, marking the government’s first implementation of generative AI technology in […]
Cyprus is heading towards a double record in tourist arrivals and tourism revenues, according to a variety of statistics published by CySTAT, and so this perhaps the perfect time to consider how much visitors to the island are spending here. Based on the latest data announced, tourism revenues in the January-September period of 2024 increased […]
Invest Cyprus drives transformation with targeted incentives, partnerships and a vision for a tech-forward future What specific measures is Invest Cyprus currently taking to position Cyprus as a leading fintech hub? Our strategy for 2024-2026 focuses on three key areas: first establishing Cyprus as a leading International Business & Financial Center, second driving growth and […]
Government employment in Cyprus reached 55,243 people in November, according to the latest data from the state’s statistical service. This represents an increase compared to the average government workforce of 54,229 during the January–November 2024 period. That figure marked a rise of 1,698 employees, corresponding to an increase of 3.2 per cent, from the same timeframe in 2023. The increase was largely attributed to the growth of temporary staff within the educational service. This […]
The Bank of Cyprus on Wednesday announced that it has renewed its ‘Equality Employer’ certification, recognising its efforts to promote gender equality in the workplace. According to the announcement, the certification reflects the bank’s commitment to equal opportunities and fostering an inclusive environment. According to an announcement, the renewal was conducted by the Labour Ministry’s […]
Climate and competitiveness priorities for 2024-2029 discussed during meeting Cyprus was represented at the annual general assembly of the European Community Shipowners’ Association (ECSA) and the meeting of its board, held on December 10 in Brussels. Representatives of the Cypriot shipping industry participated in discussions aimed at securing the future of European shipping in an […]
Sun, sights, and seriously tasty food. The hidden gem in Cyprus you need to visit While other Mediterranean spots are starting to feel the chill of winter, Limassol is still basking in sunshine, making it the ideal place for a winter escape (or honestly, any time of year.) Cyprus’ second-largest city is just a quick […]
Cyprus will implement new European Parliament regulations for instant payments from 9 January 2025, enabling round-the-clock bank transfers within 10 seconds across Europe at minimal cost for retail and business customers. The Central Bank of Cyprus has published details of the implementation of EU Regulation 2024/886 (instant payments regulation) on its website. The new system will allow […]
Minister of Energy, Commerce and Industry George Papanastasiou said on Tuesday that in the coming days there will be news as regards the departure of the floating storage and regasification unit (FSRU) ‘Prometheus”‘ from Shanghai, China. “We expect in the coming days, perhaps even within the week, to hear about the departure” of Prometheus, the Minister said replying […]
Investors must ‘cut through the noise’ and focus on establishing a long-term strategy that aligns with their investment goals Short-termism has become a dominant feature of the investment landscape. Amid market volatility, geopolitical tensions and an overwhelming flow of news, staying focused on the bigger picture has become more challenging. The constant bombardment of news […]
The Association of Cyprus Banks on Tuesday expressed its readiness to adjust interest rates tied to the European Central Bank’s (ECB) base rate immediately after the ECB’s forthcoming meeting on December 12. “This move will directly impact the monthly instalments of their clients’ loans,” the association said in a statement. The association pointed out that the ECB is set to […]
A relative newcomer to the island has enjoyed wandering off the beaten track. What did he find? By Nofar Ronen Most visitors associate Cyprus with its stunning beaches and luxurious resorts, but there’s so much more to the island. Having lived here for over 3.5 years, I’ve discovered hidden gems that many aren’t familiar with […]