A US military assessment team will be in Cyprus this week as part of defense upgrades, a Cypriot government spokesperson announced Tuesday. In his announcement, Konstantinos Letymbiotis stressed that deepening military cooperation with allied forces contributes decisively to the maintenance of peace and stability in the region. The Germany-based American military assessment team will visit […]
In 2024, Cambodia exported US $ 13.92 billion worth of clothing, textiles, footwear, and travel items, rising 23 per cent over the previous year, according to a report from the Ministry of Commerce. According to the data, textiles worth US $ 499 million were delivered to foreign markets last year, up 17 per cent. Garments […]
When we think of traditional businesses, the images that come to mind often involve desks, long working hours and an endless grind. For many women, especially in Cyprus, this has been the standard route to financial independence and success. But what if you could break away from the standard pattern, embrace your creativity, and build […]
Tourist arrivals in 2024 surpassed 4 million for the first time, breaking the previous record of 3,976,777 set in 2019. Deputy Tourism Minister Kostas Koumis hailed the milestone as a historic achievement, accompanied by another record: revenue is projected to exceed €3 billion. Arrivals increased by 5.1 per cent compared to 3,845,652 tourists in 2023. December […]
The European Commission has highlighted what it has described as Cyprus’ “notable transformation” in its vehicle market during 2024, with electric vehicles (EVs) and hybrids steadily gaining traction. “EVs doubled their market share, accounting for 4.0% of total registrations, up from 2.7% in 2023. Meanwhile, hybrids surged to 37.1%, reflecting shifting consumer preferences toward sustainable […]
Shipping Deputy Minister Marina Hadjimanolis, and Gender Equality Commissioner Josie Christodoulou hosted a press conference on Wednesday at the Presidential Palace to launch the ‘Women in Shipping’ campaign. This initiative, a collaboration between the commissioner and the Deputy Shipping Ministry, seeks to raise awareness and highlight the growing role of women in the maritime sector. […]
The electronic money institutions (EMIs) sector is experiencing rapid growth, driven by the increasing demand for digital transactions, according to Moneygate founder and CEO Nicolas Treppides. “As we step into 2025, the outlook for EMIs remains highly promising, though emerging challenges are shaping a dynamic and demanding landscape,” he explained. Treppides also commented on the […]
The Bank of Cyprus has made significant progress in implementing measures designed to alleviate financial pressures on its customers, particularly through reduced charges and lower interest rates. According to the bank, nearly all the commitments announced have been fulfilled, with additional initiatives underway. As of January 10, the bank has introduced a series of subsidies […]
Cyprus-based venture capital company 33EAST, supported by the European Investment Fund, has raised €26 million to launch its first venture capital fund, aiming to boost the island’s start-up ecosystem and foster innovation. The fund, launched in January, is backed by the Cypriot government through the ‘National Recovery and Resilience Plan’, the Bank of Cyprus, and […]
The European Banking Authority (EBA), in coordination with the European Systemic Risk Board, has released macroeconomic scenarios to assess the resilience of banks in Cyprus as part of the EU-wide 2025 stress test. The scenarios, which include baseline and adverse projections, aim to evaluate the financial sector’s ability to withstand negative economic and financial shocks while identifying systemic risks. […]
Minister of Agriculture, Rural Development, and Environment, Dr. Maria Panayiotou has expressed Cyprus’s support for the joint communiqué issued by the 17th Global Forum for Food and Agriculture (GFFA) held in Berlin. The conference was held by the Federal Ministry of Food and Agriculture of Germany, as part of the “Green Week.” According to a Ministry […]
In a ceremony held at Τhe Cyprus Institute (CyI) premises CyI and the Cyprus Academy of Sciences, Letters and Arts signed a memorandum of understanding aimed at promoting research, education and scientific excellence, so that Cyprus may become a regional center of reference in these key areas. In a press release, issued by CyI, it is noted […]
The Republic of Cyprus has issued a navigational warning (Navtex) regarding the commencement of drilling at the “Electra” target, in block 5 of the Cyprus Exclusive Economic Zone (EEZ). According to the Joint Rescue Coordination Center, JRCC, the Navtex is in effect from 19 January until 19 June, 2025, with the drillship VALARIS DS-9 conducting the […]
Government Spokesperson Konstantinos Letymbiotis described the completion of the audit and report by foreign experts on the upgrade of the ship ‘Prometheus’ as a critical step in the implementation of the Government’s strategy to reduce the cost of electricity. In statements on 21 January, the Spokesperson said that the inspection and report of foreign experts […]
Here’s an unbelievably delicious 5 minute halloumi recipe: pan fried golden, drizzled with honey and sprinkled with thyme. It’s a stellar combination of flavours – salty, sweet and earthy herb. Great starter, snack, or make a basic salad so much more interesting! Fried halloumi It’s impossible to resist devouring golden fried halloumi straight from the […]
Tourist arrivals broke the 4 mln mark last year, up from the previous record set in 2019, with the number of holidaymakers choosing Cyprus for their vacation rising by 5.1% to 4,040,200, from 3,845,652 the previous year. The island’s transport minister said last month that 2024 was set to see a record 12 mln passengers traveling through […]