Plans are underway for a €50 million mixed-use development project, “Hyperion Limassol,” at Limassol’s historic Old Port. The project’s centrepiece will be a 36-cabin observation wheel, similar to the London Eye, offering panoramic views from an estimated height of 147 meters above sea level. The project will be constructed on land created by reclaiming the […]
The Online Business Registration (OBR) service, an information technology nursery of the Ministry of Economy and Finance (MEF), approved 36,509 applications worth 46 trillion riels ($11.13 billion) in four years, of which 38 percent of the commercial owned by women, said a MEF release. Celebrating the fourth anniversary of the OBR service on Sunday, the […]
Cyprus experienced an increase of 9.4 per cent in beer sales in May, compared to the same month of the previous year, reaching 4,682,575 litres in total, a result of a rise in domestic demand, according to the Cyprus Statistical Service (Cystat). According to the Cystat report, which was released on Monday, beer sales intended […]
Cyprus on Saturday welcomed an upgrade to the economy by ratings agency Standard & Poor’s, who updated long-term ratings to ‘BBB+’ from ‘BBB’. The agency also assigned a positive outlook and affirmed the short-term rating at ‘A-2’. Following the upgrade, President Nikos Christodoulides said: “It is the 5th in a row since taking over the governance […]
The occupancy rate of the aircraft arriving in Cyprus last month reached around 85 per cent and is on the rise as peak season approaches, Hermes Airports said on Friday. Director of Aviation Development and Communication Maria Kouroupi told CNA that currently, around 41,000 passengers arrive or depart from Larnaca and Paphos airports. “The summer […]
Here are the top business stories in Cyprus from the week starting June 10: President of the Famagusta Hoteliers Association (Pasyxe), Panayiotis Constantinou, remains cautiously optimistic about the future of tourist bookings in the Famagusta district, despite the challenging circumstances currently plaguing the tourism industry. Speaking to the Cyprus News Agency (CNA), Constantinou explained that […]
Over the past five years, 275,000 individuals participated in 30,500 training programmes by the Human Resource Development Authority of Cyprus (Anad), with a total expenditure of €102.3 million, according to chairman Demetris Kittenis. Speaking during a press conference marking the authority’s 45th anniversary, Kittenis highlighted Anad’s dedication to enhancing Cyprus’ economy by upgrading workforce skills […]
In celebrating Cyprus’ maritime heritage and the bonds forged between education and shipping, the Ship Adoption training programme for the 2023-2024 academic year came to a ceremonious conclusion this week in Limassol. This year, 102 primary school classes across Cyprus adopted 102 ships from the Cyprus Shipping Chamber (Kne), emphasising the programme’s growing impact and […]
The East Mediterranean Gas Forum (EMGF), based in Cairo, has announced a recruitment process for two vacant positions, according to an announcement by Cyprus’ Ministry of Energy, Commerce, and Industry. The ministry noted that the available roles are for International Affairs Head and Strategy & Policy Development Head. Moreover, the EMGF will select the most […]
Invest Cyprus, the agency tasked with promoting investments in Cyprus, on Friday announced that it has successfully concluded a three-day programme titled ‘The Marketing and Partnerships Academy’, which was held from June 11 to 13 in Nicosia. Organised by the ANIMA Investment Network in collaboration with the CYENS Centre of Excellence and Invest Cyprus, the […]
Airplanes arriving in Cyprus were about 85% full in May, with numbers continuing to climb, according to Maria Kouroupi, director of aviation development and communication at Hermes Airports. Kouroupi told the Cyprus News Agency on Friday that about 41,000 passengers are passing through Larnaca and Paphos airports daily. She highlighted that the summer season is […]
Eurobank announced on June 3 the completion of a €275.7 million acquisition of a 26.1% stake (107,694,301 shares) in Hellenic Bank, following regulatory approval. The purchase price was €2.56 per share. With this acquisition, Eurobank now holds a controlling 55.3% stake (228,253,661 shares) in Hellenic Bank. As a result, Eurobank has launched a mandatory public […]
In the exacting field of life sciences, where precision is paramount, Efevre Tech emerges as a leader in innovation. The brainchild of Dimitris Kyriakou, a seasoned molecular biologist with a PhD from the University of Cyprus, Efevre has evolved from a personal mission into a global inspiration for laboratory automation. Indeed, Kyriakou’s academic frustrations with experimental errors […]
Professional associations, who are members of the Cyprus Federation of Employers and Industrialists (Oev), this week met with the newly elected president of the European Committee for Electrotechnical Standardisation (CENELEC), Riccardo Lama. According to an announcement by the federation, the purpose of the meeting, which took place on Wednesday, was to introduce the relevant stakeholders […]
Panagiotis Polydoros, Country Manager of Mastercard for Greece, Cyprus, and Malta, used a press conference held this week in Nicosia to underscore Mastercard’s confidence in Cyprus and its vision for a transition to a digital and sustainable economy. Discussing the Cypriot market, Polydoros highlighted that the growth rate of card usage exceeded 17 per cent […]
European low-cost airline Wizz Air on Thursday announced an increase in flight schedules from its bases in Larnaca, Cluj, and Varna. According to the airline’s announcement, this expansion is set to significantly boost its service offerings, bolstering its position as Europe’s most rapidly growing low-cost carrier. “As part of Wizz Air’s commitment to providing exceptional […]