The Lloyd’s List Greek Shipping Awards 2024 brought together hundreds of industry leaders in Athens, celebrating the achievements of local and international shipping. Deputy Minister of Shipping Marina Hadjimanolis attended on behalf of the Republic of Cyprus and presented the ‘Achievement in Education or Training 2024’ award to Captain Panagiotis Tsakos. Speaking at the event, […]
Over 100 Cypriot antiquities, including pottery jewellery, coins and religious icons illegally removed from the island have now been repatriated from the UK, the antiquities department said on Monday. The artefacts had been handed over to the Cyprus High Commission in London by UK police after being returned by various individuals who had them in […]
Credit rating agency Fitch on Saturday upgraded Cyprus’ credit rating from BBB+ to A-, becoming the second such agency in the space of three weeks to give the island an ‘A’ grade. The agency said it had upgraded Cyprus’ score on account of “the rapid reduction in public debt, strong fiscal surpluses, and limited fiscal […]
Trendy without trying too hard By George Demetriades Nestled in the heart of Nicosia, on evergreen Pindarou, Beba is a restaurant that seems to have mastered the delicate art of being trendy without trying too hard. You know the type, effortlessly cool, with a vibe that feels more like a friend’s well-curated dinner party than […]
A new hotel investment covering an area of approximately 97,000 square meters on the islet of Diaporos, off Halkidiki, was launched by Stavros Andreadis through his company Stanta. According to the business plan, it will include 13 ground-floor villas and 13 two-story autonomous bungalows – i.e. a total of 76 rooms – which will be […]
As well as moving up a place to 27th overall in Global Innovation Index 2024, Cyprus is also considered to be in second place in Northern Africa and Western Asia region when island economies are included. The Global Innovation Index, also known as GII, is published by the World Intellectual Property Organization (WIPO). The newly […]
Here are the top business stories in Cyprus from the week starting December 2: Paphos mayor Phedonas Phedonos has urged Cypriot businesses to adopt a more international, export-oriented approach, saying that the island can become a starting point from which they can sell products or services to other countries.Speaking of broader economic opportunities, Phedonos, addressing Mindset […]
The Bank of Cyprus on Friday outlined a range of initiatives designed to ease the financial strain on customers in the face of market interest rate volatility. In its announcement, the bank detailed key measures such as interest rate reductions and a customer rewards programme, aimed at reducing loan servicing costs to borrowers. “We have […]
By Frederic Pralus The importance of Foreign Direct Investment (FDI) for national economies is undeniable. For countries like Cyprus, with an outward-oriented economic approach, the ability to attract businesses and capital is a critical driver of economic growth and employment opportunities. Cyprus, for several reasons, has caught the attention of companies choosing either to expand […]
President Nikos Christodoulides is expected to announce new projects during a visit on Saturday, in Tylliria and Polis Chrysochous, on the northwestern coast of Cyprus, while continuing the dialogue with civil society, Government Spokesperson Konstantinos Letymbiotis has announced. In a written statement, Letymbiotis says that the Saturday, 7 December visit is part of the government’s policy […]
The EY Attractiveness Forum 2024, held on 4 December in Limassol, highlighted the international investment community’s perception of Cyprus as an attractive investment destination while addressing the challenges and opportunities shaping the country’s economic future. The event brought together key stakeholders, including investors, government officials, and business leaders. Address by President of the Republic President […]
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 […]