Cyprus is seeing increased travel activity for the upcoming October 28 holiday weekend, with Greece and the UK remaining the most popular destinations, according to travel industry representatives. “We are observing heightened travel movement from Cypriots during the October 28 weekend,” said Haris Papacharalambous, president of the Association of Travel Agents. He noted that many […]
New residential property sales in Cyprus showed strong growth in the first nine months of 2024, with apartments dominating the market, the Ministry of Interior reported. Data from the Department of Lands and Surveys revealed a 19.2% increase in overall residential sales compared to the same period last year, with 5,253 sale contracts filed between January and […]
Strong revenue growth, mainly stemming from social security contributions and corporate income tax, have been the main driver of Cyprus’ strong fiscal outcomes which have “improved markedly in recent years,” international ratings agency, Morningstar DBRS has said. The agency said in commentary that Cyprus’ strong fiscal outcomes were a key-driver for the trend change of […]
Strong revenue growth, mainly stemming from social security contributions and corporate income tax, have been the main driver of Cyprus’ strong fiscal outcomes, which have “improved markedly in recent years,” international ratings agency Morningstar DBRS has said.
The Cyprus Recovery and Resilience Plan Directorate is currently working with the European Commission to make amendments to the Recovery and Resilience Plan. The goal is to ensure timely implementation and to redirect funds from less popular projects to more promising ones. Initially, 40 projects worth 350 million euros were approved, but some, such as […]
President Nikos Christodoulides has announced more than twenty major projects and a package of political actions for the revitalisation of the Troodos mountainous area, at an estimated cost of more than €30 million. The announcement was made on 22 October in the community of Amiantos, the first stop of a tour Christodoulides will be carrying […]
A fiscal surplus of €631.8 mn or 2% of the GDP and a fiscal debt of €23,075.9 mn, which corresponds to 73.6% of the GDP have been recorded according to the results for 2023. The results have been audited and verified within the Excessive Deficit Procedure framework of the European Commission, as announced by CySTAT. Revenue In […]
TechIsland, the largest tech association in Cyprus, on Wednesday announced PwC Cyprus as the latest addition to its esteemed group of donors. “This partnership underscores a shared vision of fostering a prosperous, tech-driven future for the island, positioning Cyprus as a leading technology and innovation hub,” the association said. PwC Cyprus, a leader in professional […]
The Paphos Regional Tourism Board (Etap) on Wednesday announced that up to €25,000 in funding is available for small and medium-sized enterprises (SMEs). The funding is being made available in the context of the ‘Smarties for SMEs’ grant scheme. The scheme seeks to enhance innovation, resilience, and sustainability in the tourism sector. The announcement emphasised […]
Hermes Airports has submitted a planning application for the expansion of Paphos Airport. As part of the planning consent process, the airport operator has commissioned an Environmental Impact Assessment (EIA) for the expansion works. A draft of the Environmental Impact Assessment has been published online to allow public consultation on the project’s environmental implications during both […]
In July, Cypriot authorities made contact with Delta Air Lines, based in Georgia, with the aim of establishing a direct flight connection between Cyprus and the US. Efforts are ongoing, and not just with that airline. Targeting the American market requires coordinated actions that extend beyond the jurisdiction of a single ministry and involve many […]
Invest Cyprus hosted a breakfast roundtable with Indian businesses and investors, saying it reaffirms its commitment to aftercare services and positioning Cyprus as a premier investment and business hub. The roundtable facilitated meaningful discussions with representatives from various sectors, including start-ups and established technology companies, who shared their experiences throughout the investment cycle. They provided […]
The International Monetary Fund (IMF) has revised its growth forecast for Cyprus in 2024, upgrading it to 3.3%, a notable improvement from its earlier projection of 2.7% in April. The latest forecast, included in the IMF’s October World Economic Outlook (WEO) that was released on Tuesday, also anticipates a growth rate of 3.1% for 2025, […]
Cyprus outperforms EU peers in managing public debt Cyprus’ gross government debt-to-GDP ratio stood at 70.5 per cent at the end of the second quarter, reflecting a drop both on an annual and quarterly basis. In contrast, the eurozone’s debt ratio stood at 88.1 per cent, while the average for the European Union was slightly […]
Hellenic Bank has announced the launch of new and upgraded service points designed to bring innovation to banking transactions. The new branches, equipped exclusively with advanced ATMs, will be located in strategic areas across Nicosia, Limassol, Larnaca, and Paphos. Specifically, the new ATMs can be found at the below locations: According to the bank, this […]
Cyta this week unveiled its new corporate identity, emphasising technological innovation and a customer-centric approach. During an event at the Cyprus Planetarium on October 21, the company showcased its renewed philosophy, focused on continual growth and better service for its customers. Cyta’s CEO Andreas Neocleous highlighted that this shift is not just visual but reflects […]