Deputy Minister of Tourism Kostas Koumis has held consecutive meetings with the ambassadors of Egypt and Qatar in Cyprus to discuss strengthening tourism cooperation between the countries. According to a statement released on Friday, Koumis met with Egyptian Ambassador Mohamed Shawky Zaazou, with discussions covering Cyprus-Egypt air connectivity, cruise tourism, and the role of travel agents and tour operators in both countries. The announcement noted […]

Analysts covering the Bank of Cyprus have significantly raised their price targets following the release of the bank’s preliminary financial results for 2024. All recent revisions indicate a more optimistic outlook compared to previous estimates. A key factor driving these upward adjustments is the bank’s updated profit distribution policy. In its preliminary results announcement, the Bank of Cyprus stated its […]

The Cyprus Securities and Exchange Commission (CySEC) on Friday released a statement detailing its actions for this year’s Global Money Week 2025 (GMW 2025). According to the announcement, these include a variety of informative and educational activities. “Global Money Week is the annual international campaign, aimed at raising awareness about the importance of financial education for young people”, […]

The Cyprus Employers and Industrialists Federation (Oev) announced on Friday that George Pantelides, head partner at Deloitte and current deputy president of the federation, will assume the role of president on May 7, 2025. According to Oev, the transition follows the completion of the two consecutive two-year terms of current president Antonis Antoniou, which is the maximum allowed under the federation’s […]

A Cypriot company has inaugurated a pilot data centre in Limassol with the dual purpose of providing digital services while potentially absorbing excess renewable energy that would otherwise be curtailed from the electrical grid. The initiative aims to transform the traditionally high energy consumption of data centres into an advantage for the national power grid by […]

The Cyprus University of Technology (CUT) has secured preliminary approval from the Ministry of Finance for its development plan to construct new facilities for the Department of Multimedia and Graphic Arts and the School of Geotechnical Sciences and Environmental Management. The modern facilities, estimated to cost approximately €27 million, will be built on university-owned land adjacent to […]

Investment in Cyprus is off to a strong start in 2025, with foreign investors showing increased enthusiasm for setting up businesses on the island.  Data suggest a surge in registrations of foreign companies, positioning Cyprus as a gateway for expansion into European markets. The government’s efforts to make the country an even more attractive investment […]

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Alpha Bank’s senior leadership met with state officials and key business figures in Cyprus this week, in order to outline its growth strategy and expansion plans. According to an official announcement from the bank, this four-day visit “reaffirms its commitment to strengthening its presence in Cyprus, positioning its subsidiary as a leading banking choice for businesses and households”. The high-level […]

Cyprus’ real estate market continued its robust growth into February, with property sales increasing by 7 per cent year-on-year. Developments in Limassol and Larnaca were the primary driver behind this surge. According to the land department, property sales nationwide rose to 1,371 in February 2025, up from 1,284 in the same month last year. Over the January-February period, transactions increased by 13 per cent, with […]

The Cyprus Financial Literacy and Education Committee (CyFLEC) on Thursday announced that it is intensifying its efforts to promote financial literacy among young people and the broader society as part of Global Money Week. The committee, which has been operating under the Central Bank of Cyprus (CBC) since June 2024, “aims to enhance the ability of citizens—particularly young people—to […]

President Christodoulides on Wednesday announced a reduction in VAT on electricity prices for domestic consumption from 19% to 9%. He mmade the announcement while reviewing the government’s work for 2024. President Christodoulides stated, “As part of our policy for cheaper energy and broader tax reduction, as presented in our proposal for tax reform, I announce […]

The business world has given a vote of confidence to the under development new tax model for Cyprus, with business entities finding that the tax reform proposed by the University of Cyprus’ Economics Research Center (CypERC) is a move in the right direction and strengthening the country’s competitiveness. The positive lens through which the local […]

President Nikos Christodoulides announced that he will be visiting three US states in the immediate future, with a focus on attracting investments and strengthening diplomatic and economic ties through new diplomatic missions in selected countries. He revealed the news at a meeting with a delegation from Alpha Bank Greece and Cyprus at the Presidential Palace, […]

Cyprus’ tourism ministry this week launched the application process for a grant scheme aiming to enhance the qualitative and aesthetic appeal of Cyprus’ beaches. This initiative, according to the ministry, seeks to position Cyprus as a “destination accessible to every visitor.”  In the statement, the ministry clarified the scheme’s objective to promote projects aimed at […]

Eurobank has outlined its strategic objectives following the acquisition of 100 per cent of Hellenic Bank in its public offer document, which details the roadmap for the acquisition process. The bank intends to proceed with the necessary steps to delist Hellenic Bank’s shares from the Cyprus Stock Exchange (CSE) upon completion of the offer. The public offer aims to secure the remaining […]