Energy Minister George Papanastasiou on Saturday praised the signing of a maintenance, repair and overhaul offload agreement between GE Aerospace and the United Aerospace Maintenance Company (UAMCO) of Cyprus. He said the agreement would further enhance Cyprus-US strategic cooperation and would upgrade the island’s status as an international business hub. US ambassador in Nicosia Julie […]
Passenger traffic at Cyprus’ Larnaca and Paphos airports increased by 7.14 per cent in October 2024 compared to October 2023, according to the Transport Ministry. The ministry said this resulted in record traffic being recorded during this time, with over 1.3 million travellers. Specifically, Cyprus welcomed a record-breaking 1,338,065 passengers through Larnaca and Paphos airports […]
Because of the country’s incredible richness in waterways including the Mekong, Sap and Bassac Rivers, as well as the massive lake, Tonlé Sap, freshwater fish and seafood, such as salmon, squid and prawns, is especially popular, featuring prominently in soups, curries, stir-fries and salads. Beef, pork, chicken, duck and other poultry are widely available but more expensive […]
Cyprus is growing as a top choice for foreign direct investment (FDI) in Europe, said Invest Cyprus CEO Marios Tannousis on Thursday. Tannousis addressed an international audience at the 10th International Funds Summit & Expo in Nicosia, presenting the island’s unique advantages, including financing schemes and incentives for global investors. Tannousis explained that Cyprus’ strategic […]
Passenger traffic at Cyprus’ Larnaca and Paphos airports increased by 7.14 per cent in October 2024 compared to October 2023, according to the Transport Ministry. The ministry said this resulted in record traffic being recorded during this time, with over 1.3 million travellers. Specifically, Cyprus welcomed a record-breaking 1,338,065 passengers through Larnaca and Paphos airports […]
United Arab Emirates energy giant Abu Dhabi National Oil Co has expressed interest in Cyprus’ emerging natural gas sector, Energy Minister George Papanastasiou has said. “They expressed interest in the eastern Mediterranean,” Papanastasiou told Reuters on the sidelines of an energy conference in Abu Dhabi. He clarified that Adnoc had not made any formal request […]
Larnaca Attractions Scratch the surface of Larnaca and you’ll reveal a wealth of sun-drenched secrets that go far beyond its reputation as a party destination. Located in the southeastern corner of Cyprus, the city undoubtedly has its nocturnal thrills, but there is so much more to see and do during the day that you may feel you’re […]
The deal to hand over Larnaca and Paphos airports to Hermes Airports Ltd is nearly sealed, as the company moves toward securing financing from a bank for the second phase of development at both airports. Kathimerini understands Hermes Airports is in advanced talks with a bank to secure a loan for the project, pending approval […]
Crete, the flagship of Greek tourism, is extending the tourism season for another year, with the “help” of climate change, as the president of the Crete hoteliers’ association, Manolis Tsakalakis, said to the Athens-Macedonian News Agency. British tour operators have already expressed an interest in transferring airline seats of prospective tourists from the high season […]
The average gross monthly earnings for employees in Cyprus reached €2,363 in 2023, a 7.3% increase from €2,202 in 2022, marking a continued rise in income levels after a 7.1% uptick the previous year. According to CySTAT, the median gross monthly earnings stood at €1,792. Significant differences are recorded based on gender, nationality, and industry, […]
Hellenic Bank and the union representing its employees, Etyk, have finalised a new collective agreement, based on the preliminary accord reached in April 2023 with the mediation of the Labour Minister. This agreement, which marks the renewal of the contract initially due in 2018, will retroactively cover the period from January 1, 2019, to December […]
Greek retail chain Jumbo Group reported robust sales growth for the first ten months of 2024 at its recent shareholder briefing. This was driven by strong demand in key markets and strategic expansion across Cyprus, Greece, Bulgaria, and Romania. In Cyprus, Jumbo shop sales experienced steady growth, with October 2024 figures rising by approximately 2 […]
Hellenic Bank on Wednesday reported a profit after tax of €284 million for the first nine months of 2024, marking a 28 per cent increase from the same period last year. “During the first nine months of 2024, Hellenic Bank’s performance was strong, despite global challenges,” said CEO Michalis Louis. “By maintaining a strong capital […]
Larnaca and Paphos airports recorded a 7.14% increase in passenger traffic in October 2024 compared to the same month last year, the Ministry of Transport reported on Wednesday. “Despite escalating geopolitical tensions, we continue to see record passenger movement for the January-October period, with a 5.3% increase compared to the same period in 2023”, the […]
Cyprus’s property market is showing signs of stabilisation, with apartments remaining the only sector recording consistent growth, according to the latest RICS Cyprus Property Price Index with KPMG in Cyprus for the third quarter of 2024. Apartment prices rose by 0.8 percent quarter-on-quarter, whilst other property categories remained largely stable. Retail spaces and warehouses continued to experience low demand. […]
Cyprus’ government has announced a comprehensive package of measures aimed at reversing the country’s declining birth rate and addressing its ageing population, according to the Minister of Labour, Yiannis Panayiotou. In a press conference on 6 November he presented the measures, which focus on balancing family and professional life, increasing birth rates, and improving the […]