Y Cyprus on Friday announced that its recently held forum highlighted the international investment community’s view of Cyprus’ investment appeal. The EY Attractiveness Forum also addressed key economic challenges and opportunities, bringing together a number of influential stakeholders. This included investors, government officials, and a number of business leaders. In his opening remarks, the President […]
The Energy Ministry is offering a second chance for small and medium-sized enterprises (SMEs) and non-profit organisations to secure funding through the ‘Save – Upgrade’ scheme. This initiative, backed by the EU Recovery and Resilience Plan, seeks to promote energy-saving investments with a total budget of €24 million. Applications will open on a date yet […]
The Research and Innovation Foundation (RIF) on Friday announced the launch of ‘Boost,’ a new blended finance scheme. The new scheme is designed to support certified innovative companies in Cyprus by providing grants of up to €300,000. The initiative aims to bolster innovation and enhance the entrepreneurial ecosystem by incentivizing equity-based investments. Under the Boost scheme, certified companies […]
The turnover index for Cyprus’ industrial sector rose by 1.3 per cent in September 2024, when compared to the same month in 2023, according to the state’s statistical service. Over the first nine months of 2024, the index recorded a cumulative increase of 2.2 per cent compared to the corresponding period in 2023. In September 2024, the Industrial […]
The lighting of the Paphos Christmas tree took place on Wednesday night at Kennedy square. The Paphos municipality decorated the streets with festive ornaments and lit the Christmas tree for the holidays in the presence of a large crowd. Paphos mayor Phedonas Phedonas lighted the Christmas tree after he wished everyone happy holidays. A parade […]
The Christodoulides administration has prioritised addressing climate change with targeted actions, a commitment echoed by Cyprus’ tourism industry, Deputy Minister Costas Koumis said on Thursday. Koumis’ comments were delivered during a speech at a conference titled ‘Tourism in the Era of Climate Change: Challenges and Innovations‘, held under the auspices of President Nikos Christodoulides. The Christodoulides administration has prioritised addressing climate change with […]
Minister says housing permits will take just 40 working days Cyprus has revamped its planning and building permit system, cutting approval times to just 40 working days for small-scale developments, Interior Minister Constantinos Ioannou announced this week. The initiative is part of a broader strategy to eliminate delays and modernise housing construction processes. The reforms target low-risk “Category A” […]
Cypriot DIY retail chain Superhome Centre is set to change ownership in a €94 million deal, it emerged this week. The prospective buyer is reportedly a billionaire investor of Greek descent, according to Economy Today. The same reports said that the buyer, who has previously been listed among the world’s top 200 richest individuals by Forbes, initially […]
CySEC officer Elena Karkoti on Thursday highlighted the ongoing issue of underrepresentation of women on corporate boards and in leadership roles. She described this phenomenon as “a profound social and political contradiction” during a time where equality has been in the spotlight. Karkoti said that despite progress in gender equality, “women remain trapped on the margins of decision-making centres and are often a […]
Cyprus is stepping up as a leading destination for international investment, president Nikos Christodoulides said on Wednesday. Speaking at the ‘EY Cyprus Attractiveness Forum 2024,’ the president outlined the government’s strategic plans to bolster economic growth and investor confidence. Addressing industry leaders, Christodoulides reaffirmed the government’s dedication to fostering economic stability and enhancing the business […]
African migrant workers and labour organisers gathered in Nicosia’s Old Town on Sunday for Cyprus’s first African workers’ conference. The six-hour event, organised by the Industrial Workers of the World Cyprus Regional Organising Committee (IWW-CyROC) and African community members, combined labour activism with cultural exchange through music and food. Cameroonian community representatives discussed their homeland’s history and current […]
The government is set to expand the categories of Christmas bonus recipients and provide additional financial support to mountain community residents, President Christodoulides announced today ahead of a cabinet meeting. Speaking at the start of the Council of Ministers meeting, Christodoulides revealed plans to increase the number of Christmas bonus beneficiaries for 2024 by 40,000, […]
Administrative, support, and real estate services in Cyprus performed well during the third quarter of 2024, according to the latest services turnover value index report. Specifically, according to the Cyprus Statistical Service (Cystat), real estate activities recorded an 11.5 per cent increase compared to the same period in 2023. Information and communication activities followed, rising […]
Invest Cyprus on Wednesday announced that it has concluded a successful mission to Saudi Arabia. The mission, the agency said, will help facilitate future collaborations, supporting the country’s objective to increase foreign direct investment. Specifically, Invest Cyprus travelled to Saudi Arabia to take part in the 28th World Investment Conference (WIC), organised by the World Association of Investment Promotion […]
Cyprus on Wednesday showcased its advantages as a tax destination during a gathering in London, highlighting benefits for high-net-worth individuals amid UK tax reforms. The event, titled ‘Non-Doms: The Cyprus Private Client Offering Gathering 2024, was hosted by IMH and Invest Cyprus at the London Stock Exchange. More than 150 participants attended the event, including […]
Cyprus achieved record-breaking tourism results in 2024, according to Deputy Minister of Tourism Costas Koumis. Speaking at the annual general assembly of the Association of Cyprus Travel and Tourism Agents (ACTA), he highlighted that October set a new benchmark, with arrivals surging by 26 per cent compared to 2022. Koumis praised the sector’s resilience in the face of challenges such […]