Canadian credit rating agency DBRS Morningstar has affirmed the Republic of Cyprus’ long-term ratings, maintaining it at BBB (high) with a stable economic outlook. Amid global uncertainties, DBRS cited risks such as the Ukraine conflict and trade disruptions in the Red Sea, which could impact Cyprus’ fiscal outlook. Downgrade possibilities loom if sovereign debt worsens […]

Cyprus’ main exports for 2023 included mineral fuels and oils, halloumi and pharmaceutical products, according to CySTAT. In an infographic published on 26 March, CySTAT shows that Cyprus exported €508.39 million of domestically produced goods to EU countries and another €1.84 billion to third countries. The main products that Cyprus exported to EU countries were pharmaceuticals at […]

Cyprus took part in the International Food and Drink Event (IFE) this week, promoting a number of products at the three-day international food and beverage event, that opened its doors on Monday at the ExCel exhibition centre in London. According to a statement released on Tuesday, the Ministry of Energy, Commerce, and Industry, in collaboration with the […]

The Chartered Financial Analyst (CFA) Society Cyprus recently held an educational interactive day focused on private equity and investment funds. The event involved the presence of members of the association, along with high-ranking executives of auditing and consulting firms. According to an announcement by the CFA Society Cypruts, the topic of the seminar was presented by Steve Balaban, […]

The Finance Ministry on Wednesday released a statement welcoming the outcomes of the European Commission’s recent in-depth review, highlighting that they “demonstrate the government’s sound economic policies and efforts to address the macroeconomic imbalances facing the Cypriot economy”. The European Commission’s report, released earlier this week, noted that Cyprus’ economy is on a healthy trajectory, expecting both GDP to grow and […]

Deputy Minister of Tourism Kostas Koumis this week said that “a sustainable destination is one that respects both its visitors and its own resources, both natural and human”. Koumis’ comment came during his participation at the annual tourism conference organised by the Association of Cyprus Tourist Enterprises (Stek). This year’s event, held in Nicosia, revolved around the […]

International rating agency Morningstar DBRS has confirmed Cyprus’ BBB (high) long-term credit rating with a stable trend, noting that favourable economic prospects balance downside risks. “The Stable trend balances favourable economic and fiscal developments against important downside risks,” the agency said in a press release on 23 March. According to the Canada-based agency, Cyprus has […]

Cyprus’ main exports for 2023 included mineral fuels and oil, halloumi and pharmaceutical products, according to the Cyprus Statistical Service (CyStat). In an infographic published on Tuesday, CyStat shows that Cyprus exported 508.39 million euros of domestically produced goods to EU countries and another €1.84 billion to third countries. The main products that Cyprus exported […]

Cyprus aims to conclude construction works for the Liquified Natural Gas (LNG terminal in Vasilikos by the end of 2024 as this would assist the efforts to reduce electricity generation costs Minister of Energy George Papanastasiou said on Monday. Construction works for the LNG terminal was halted in the end of January, with the Chinese-led consortium […]

The Republic of Cyprus and the United States of America have announced a Justice System Cooperation in order to Enhance Cypriot Capabilities to Counter Illicit Finance. According to a Joint Press Release, “in response to a request from President Christodoulides, to further empower the Republic of Cyprus (ROC) to counter illicit finance, the United States […]

Before the UK left the EU, private schools around the island prepared their students to study there. But they now have to look further afield The number of EU students enrolling in British universities has more than halved since its withdrawal from the European Union in 2016, with noticeable declines from Italy, Germany and France. […]

Holidaymakers in Cyprus are increasingly turning to travel agents for their vacation needs, according to the chairman of the Association of Cyprus Travel Agents (Acta) Charis Papacharalambous. Speaking to state broadcaster CyBC on Thursday, Papacharalambous, whose association turns 70 this year, said the higher number of bookings at travel agents is evident, particularly the ones […]

In line with the annual global awareness campaign, Global Money Week 2024, coordinated by the Central Bank of Cyprus (CBC), the CBC has taken the initiative to create educational videos aimed at raising awareness and promoting financial literacy, especially among the youth. According to an announcement released by the CBC on Friday, these videos were prepared with the contribution of President […]

The main body of the Vasilikos LNG project could be completed by the end of 2024 or early in 2025, as long as various parties can truly work together with each other, the Ambassador of China to Cyprus, Liu Yantao, has said. “The Vasilikos project is a bit complicated. Now it has come back on […]

China’s Ambassador to Cyprus Liu Yantao said the China-Cyprus trade volume was close to $1 billion last year, with Cyprus’ exports to China increasing by 11.4% year-on-year, as he stressed his country’s relationship with Cyprus has bright prospects and increasingly expanding areas of cooperation. Asked about the two countries’ bilateral relationship during a recent media workshop […]

The Index of sale of Motor Vehicles spiked by 30% in 2023, pushed upwards mainly by price hikes in used cars. According to data released by CySTAT the index in the economic activity of sale of motor vehicles in the last quarter of 2023 amounted to 193.3 units, marking an annual increase of 42%, whereas the […]