The Central Bank of Cyprus (CBC) on Tuesday reported total assets of €30.07 billion as of September 30, 2025, according to its most recent financial statement signed by governor Christodoulos Patsalides. The statement shows that the largest share of the bank’s assets consisted of intra-Eurosystem claims, amounting to €19.78 billion. Holdings of securities of euro area residents denominated in euro stood at €6.97 billion, while gold and […]
Cyprus recorded one of the strongest budget surpluses in the entire European Union in 2024, coming in second only to Denmark and defying the deficit trend seen across the euro area and the wider bloc, according to Eurostat. The government deficit-to-GDP ratio for the euro area decreased from 3.5 per cent in 2023 to 3.1 per cent in 2024, the statistical office reported. A similar trend […]
Here are the top business stories in Cyprus from the week starting October 13: Cyprus’ property market is calmer this year, with foreign demand still providing momentum even as higher borrowing costs, rising construction prices and new environmental realities begin to reshape investment decisions. According to data from the Department of Lands and Surveys, property sales […]
Three volumes about a city totalling more than a thousand pages may appear over-long but not when it covers 37 centuries of history, starting from 1600BC. The three-volume work, titled Walking in the Κingdom of Salamina (Περπατώντας στο Βασίλειο της Σαλαμίνας), looks at 37 centuries of civilization in Ammochostos, which in English is referred to as Famagusta. It […]
Tourist arrivals recorded an annual increase of 12% in September, reaching 570,635 compared to 509,463 in the same month of 2024, Cystat said. For the period of January – September 2025, arrivals were up 10.3% to 3,604,790 compared to 3,268,090 in the corresponding period of 2024. The UK, as usual, held the lion’s share of […]
Cyprus’ Residential Property Price Index posted a 4.7% annual rise in the second quarter of 2025, according to data published on Friday by the Central Bank of Cyprus, highlighting an accelerating increase for apartments and a slowdown for detached properties.
Cyprus has emerged as the European Union (EU) leader for tourism growth in 2024, registering the highest year-on-year growth in overnight stays among all member states, according to Eurostat. The EU’s statistical office on Friday reported that Cyprus saw a significant increase of 14.5 per cent in the number of nights spent in its tourist accommodation establishments compared with 2023. […]
Two very important events are coming up in December and January, both organised by IMH and aimed at attracting investment and high net worth individuals (HNWI’s) to Cyprus. The Cyprus Private Client Offering Gathering 2025 The Cyprus Private Client Offering Gathering 2025 will be taking place in London, UK, on 5 December, and it will […]
The Cypriot Presidency of the Council of the EU will build upon the European Tourism Agenda 2030 and explore prospects for new horizons in this sector, President Nikos Christodoulides told the 91st HOTREC General Assembly (Hotels, Restaurants, and Cafés of Europe), which is being hosted by the Cyprus Hotels Association (CHA) from 15 to 17 October 2025 […]
The top 100 most valuable real estate transactions in Cyprus during July and August 2025 totalled €201.4 million, according to data released by property technology firm Ask Wire, which monitors real estate transactions, listing prices and construction activity across the island. The analysis, which includes the top 10 transactions per district, reaffirms the steady interest in high-value deals […]
Invest Cyprus on Thursday welcomed US-based technology company TKI to Cyprus following the merger between Hybrid ConsulTech, now renamed TKI EMEA, and TKI, a leading provider of enterprise-grade artificial intelligence solutions. Marios Tannousis, CEO of Invest Cyprus, said the development marks “a significant milestone in Cyprus’s growing AI landscape,” as it strengthens US–Cyprus business ties and reinforces the island’s position as a regional hub for […]
Christodoulides says tourism remains cornerstone of Cyprus’ economy President Nikos Christodoulides on Thursday addressed the 91st HOTREC general assembly in Paphos, highlighting the vital role of tourism in Cyprus’ economy, the country’s sustainable development strategy, and upcoming European priorities under Cyprus’ EU presidency in 2026. HOTREC is the umbrella association representing Europe’s hospitality industry to EU institutions, advocating […]
The International Monetary Fund (IMF) expects a higher growth rate for Cyprus for 2025 and 2026 in its October edition of the World Economic Outlook (WEO) compared with the estimates included in the April edition. Specifically, it projects that the growth rate will reach 2.9% of GDP in 2025 and 2.8% in 2026, compared with […]
Cyprus will host one of the most significant events in the European tourism and hospitality industry this year, as the 91st General Assembly of HOTREC is set to take place in Paphos from October 16 to October 17, 2025. According to an official announcement, this high-profile event represents a landmark gathering for members and official representatives of HOTREC, the […]
Cyprus economy set for 2.9 per cent growth in 2025, IMF reports Finance Minister Makis Keravnos welcomed the International Monetary Fund’s (IMF) latest forecasts on Wednesday, saying they confirm both government projections and the continued strong performance and resilience of the Cypriot economy. Speaking after a cabinet meeting at the Presidential Palace, Keravnos said he was pleased with the IMF’s October […]
Hadjimanolis highlights Cyprus unity, stability and maritime strength Cyprus marked the 65th anniversary of its independence with a celebratory event in London earlier this week, where Deputy Minister of Shipping Marina Hadjimanolis spoke on a number of key issues, including the island’s maritime sector. Specifically, Hadjimanolis highlighted the island’s continued efforts toward reunification, its role as a pillar of stability […]