The Cypriot economy grew by 3.4 per cent in the first quarter of 2024 compared to the same period in 2023, with the construction sector showing the largest increase at 10.2 per cent, according to a report released this week by the Cyprus Statistical Service. Specifically, the growth rate of the economy for the first […]
Cyprus’ flagship tech & startup festival, Reflect Festival, returned to Limassol, welcoming 9,000 entrepreneurs, investors, and tech enthusiasts in an ambitious new venue. Reflect Festival successfully wrapped up another edition fueled by a passion for innovation and tech, bringing together 9,000 attendees to discuss technology, startups, and innovation. The 7th edition marks the biggest conference […]
The capital markets team of Elias Neocleous & Co LLC has successfully assisted Premier Energy PLC in relation to the initial public offering (IPO) and listing on the Bucharest Stock Exchange. This transaction, valued at approximately €482 million, marks the largest IPO on the Bucharest Stock Exchange in the last five years. Our team, led […]
Cypriot firm Ask Wire, a real estate data analytics company, this week announced the successful completion of its equity extension round, securing funding to support its expansion into key European markets, particularly Greece and Romania. According to the announcement, the majority of the funding was provided by existing investors, with significant participation from Lars Rasmussen, […]
JetBrains reaffirmed its ongoing commitment to innovation and education in the software development field at the recently held TechIsland summit in Limassol. This commitment, which has been a cornerstone of the company since its founding in 2000, focuses on creating effective developer tools by automating routine tasks and developing intelligent solutions. This allows developers to […]
The Cyprus Mail’s SOUZANA PSARA recently attended Cyprus-based marketing agency CAPSBOLD’s presentation at Reflect Festival, where she chatted with PR Director Olga Loktionova about the future of marketing and the transformative power of AI. In today’s bustling digital landscape, capturing and retaining the audience’s attention has become an intricate art form. “Today we live in […]
Cypriots are planning their summer holidays in record numbers, booking airline tickets and hotel beds with a fervour that could set a new high for outbound travel. According to tour operators and leisure professionals, this trend of Cypriots travelling abroad continues unabated. Last year, nearly 1.7 million trips abroad were made by Cypriots, up from […]
Cyprus is set to make a significant showing at the international shipping conference Posidonia 2024 in Athens, with around seventy companies participating in what is considered the largest maritime exhibition in the world. Held biennially, Posidonia attracts exhibitors from all sectors related to shipping, with representatives from over eighty countries emphasising its global importance. Deputy […]
Cyprus’ real GDP grew by an annual 3.5% and by 3.4% in seasonally adjusted terms in the first quarter of 2024, with the Construction sector recording the highest annual and quarterly percentage gains, according to Cystat. In its quarterly national accounts for the first quarter of this year, Cystat said the growth rate in real […]
Turnover in retail trade recorded annual increases both in value and in volume in April, according Cystat. The Turnover Value Index of Retail Trade for April increased by 6.5% compared to the respective month of last year, whereas for the same month, the Turnover Volume Index of Retail Trade rose by an annual 5.3%. For […]
The Cyprus banking sector experienced a significant surge in profitability by the end of 2023, according to the key financial indicators published by the Central Bank of Cyprus (CBC). The return on equity (RoE) ratio for Cyprus banks jumped to 24.6% in 2023, a stark increase from 4.8% in the previous year. This dramatic rise […]
Larnaca on Friday unveiled a new corporate identity, marking a pivotal moment for the city’s tourism, according to Deputy Minister of Tourism Kostas Koumis. He emphasised that the rebranding aims to encapsulate the authentic essence of Larnaca, showcasing its rich history, local gastronomy, and sustainable tourism practices. In his welcoming remarks at the event organised […]
The surplus in the government balance during the period of January-April 2024 was almost double compared to last year, attributed to the faster increase in revenues compared to expenditures, allowing the Government to be more flexible in its social policy. Preliminary fiscal results prepared by the Statistical Service for the period of January-April 2024 indicate […]
Two new shopping malls, located near each other in Limassol, have received environmental approval from the government. The first is the “Limassol Mall,” owned by C.A.C. Papantoniou Ltd, with an estimated cost of €95 million. The second is named “The Mall of Limassol”, owned by Atterbury Europe, in Mesa Geitonia, with an estimated project cost […]
The Cambodia Chamber of Commerce (CCC) has requested that the Hungarian government examine the possibility of establishing a commercial office in the Kingdom to expand Cambodia-Hungary trade and investment cooperation. It noted that the volume of bilateral trade and investment between the two countries remains limited. The suggestion was made during a May 30 Phnom […]
The implementation rate of development expenditures from the state budget reached 13% at the end of April 2024, marking a slight increase from the decade’s average of 12%, according to the Treasury. Income-wise, indirect taxes recorded a €150 million increase compared to last year, attributed to rising VAT revenue. Additionally, direct tax revenue increased by €170 […]