Passenger traffic at Cyprus’ Larnaca and Paphos airports rose by 7.14 per cent in October 2024 compared to the same month in 2023, according to the Transport Ministry. This increase supports projections that 2024 will be a record-breaking year for Cypriot airports, with passenger numbers expected to exceed 12 million. Despite heightened geopolitical tensions, passenger […]
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 […]
National investment promotion agency Invest Cyprus and TechIsland, Cyprus’ largest tech association, on Wednesday announced the signing of a memorandum of understanding (MoU). According to the announcement, the agreement aims to position Cyprus as a regional technology hub, fostering a sustainable tech community to drive economic growth and job creation. Founded in 2021, TechIsland represents […]
Nestled along the pristine Pagoda Beach on Koh Rong Island, The Secret Garden Koh Rong has quickly emerged as a top destination for travellers seeking a tranquil, luxurious escape. Opening its doors in December 2019, the resort marks a new beginning after eight successful years at Otres Beach. The Secret Garden offers a refined and […]
Salaries have increased in total by 12-46% over the last five years in the 20 sectors with the greatest employment, according to the Labor Ministry’s Ergani database. Employees working on a full-time contract receive 1,433 euros per month gross on average. In September 2,830,818 workers were employed with salary labor contracts (full- and part-time), with […]
The two shipping companies have formed a single entity called InterMaritime Shipmanagement Intership Navigation and Interorient Shipmanagement on Tuesday announced that they have merged to form InterMaritime Shipmanagement. The new entity, which will include Intership’s sister company Donnelly Tanker Management, will manage 170 vessels, offering comprehensive ship management services globally. Combining over 80 years of […]
The Bank of Cyprus claimed two prestigious Gold Awards at Bousias’ Cyprus HR Awards for 2023, according to an announcement released on Tuesday. The bank was awarded ‘Best Change Management Strategy & Initiative’, as well as ‘Best Partnership with Educational Institutions, showcasing its innovative approach to internal engagement and staff development. The bank’s first Gold […]
The Central Bank of Cyprus (CBC) has unveiled a new strategic framework for 2025-2026, built upon three pillars comprising specific actions aimed at institutional evolution, operational efficiency and modernisation. Central Bank Governor Christodoulos Patsalides, speaking at the “Credit Risk Management Conference – ESG Impact on Credit Risk: Navigating Through Challenges”, emphasised that rapidly changing economic, social, technological and […]
The National Observatory of Cyprus has been named a finalist at the 2024 World Architecture Festival in Singapore, competing against projects by leading firms including Zaha Hadid Architects and Foster + Partners. Designed by Cypriot practice Kyriakos Tsolakis Architects, the observatory in Agridia village will be presented in the ‘Completed Projects’ category by partner Elena K. Tsolakis […]
Cyprus’s retail trade turnover value index rose by 3.1% in September 2024 compared to the same month last year, the Statistical Service reported. The retail trade turnover volume index also showed positive growth, increasing by 3.3% year-on-year in September. For the January-September 2024 period, the value index recorded a 5.0% increase, while the volume index […]
The Cyprus Shipping Chamber has expressed its strong support to a joint statement by the European Community Shipowners’ Associations (ECSA) and the European green transport advocacy group Transport & Environment (T&E). The joint statement calls on EU policymakers to prioritise clean fuel production as a crucial component of the upcoming Clean Industrial Deal and emphasises the urgent need […]
The Hotel Professionals of Cyprus (Pasydixe) on Monday appointed Polis Kallis as its first general manager, according to an official announcement. The announcement explained that the new role is aimed at reinforcing the association’s structure, combined with providing better support for hotel professionals across Cyprus. Pasydixe, part of the Cyprus Chamber of Commerce and Industry […]
A window of many opportunities can be opened for Cyprus by the UK’s abolition, from April 6, 2025, of the non-dom status, since Cyprus has for 17 years offered this status, with all the related privileges, and can continue to do so, Georgia Papa, Corporate and Commercial Law lawyer and Partner at Pyrgou Vakis LLC, […]
Here are the top business stories in Cyprus from the week starting October 28: Financial support and advisory services are essential for Cyprus’ small and medium-sized enterprises (SMEs) to enhance resource efficiency, according to a recent Eurobarometer survey published by the European Commission. The survey highlighted the need for targeted support to help SMEs expand […]
The Retail Trade Turnover Value Index in Cyprus saw a 3.1 per cent increase in September 2024 compared to the same month in 2023, according to a report from the Cyprus Statistical Service. During the same month, the Retail Trade Turnover Volume Index also rose by 3.3 per cent year-on-year, indicating an overall growth in […]
Cypriot residents spent a total of €2.23 billion on travel both within Cyprus and abroad in 2023, according to a report by the Cyprus Statistical Service. In addition, a total of 484,365 residents made at least one trip involving an overnight stay, reflecting an 8.4 per cent increase from 2022. The data shows that while […]