Eurobank Holdings this week released its financial results for the first quarter of 2024, showcasing significant growth and robust performance across various metrics, including in its operations in Cyprus. “Our performance in the first quarter is a great start for the year and makes us confident that our 2024 planwill be delivered, with a return on tangible book value of 15 per […]
House Speaker Annita Demetriou this week held a meeting with a delegation from the Cyprus Shipowners’ Association (CSA), where they discussed problems and challenges facing the Cypriot shipping industry. Demetriou expressed her commitment, and that of the House, to assist in every way possible in the support of the CSA. Furthermore, according to a statement from the House, […]
The Research & Innovation Foundation (RIF) on Friday unveiled its revamped innovation vouchers programme, offering €10,000 per project along with free support services to Cypriot small and medium-sized enterprises (SMEs). According to an announcement by the RIF, this initiative aims to boost their competitiveness by providing access to specialised expertise. The foundation explained that the innovation vouchers “enable SMEs to receive tailored services […]
Bank of Cyprus Group CEO Panicos Nicolaou described 2023 as a milestone year for the organisation, as it became the first bank in Cyprus and Greece to secure approval from the ECB to restart dividend payments after 12 years. The dividend of €22.3 million was equivalent to a payout ratio of 14 per cent of the full-year 2022, adjusted recurring profits. Addressing the […]
Here are the top business stories in Cyprus from the week starting May 13: National investment promotion agency Invest Cyprus recently showcased the country’s business and investment credentials in the Middle East, while also highlighting that Cyprus can act as a gateway to the EU for companies looking to expand to Europe. According to an announcement released this […]
In a move set to bolster innovation and technological advancement, three dynamic startup ventures, handpicked by the American University of Beirut (AUB) and the Zein AUB Innovation Park, are poised to make Paphos, in southwestern Cyprus, their new home. A delegation representing these firms, together with officials from the AUB, convened with Paphos Mayor Phaedon […]
The Cyprus economy’s growth rate in real terms during the first quarter of 2024 is positive and gross domestic product is estimated at 3.5% year-on-year, according to the flash estimate by the Statistics Department Cystat. Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at 3.3%. This is […]
Cyprus’ tourism revenue surged by 15 per cent year-on-year in February 2024, marking a significant recovery following a slight 0.9 per cent dip in the first month of the year, according to a report released on Friday by the Cyprus Statistical Service (Cystat). The report, which utilised data collected by the traveller survey, revealed that […]
The Deputy Minister of Shipping underscored the commitment of the Cyprus Shipping Administration to intensify efforts in further supporting the shipping industry, while welcoming the International Investment Conference 2024 held in Limassol on Thursday and Friday. The conference is organized by the UK-Cyprus Business Association, aiming to promote business networking between the two countries. In […]
Some of the island’s leading business executives relayed their experience of doing business in Cyprus at the 2nd Cyprus: The New Global Tech & Innovation Hub Summit, held in Limassol to showcase the island’s key advantages as a business and tech hub. Coordinated by Invest Cyprus CEO Marios Tannousis, the panel discussion was entitled “Sunshine […]
The construction sector is one of the most important pillars of the economy, President Nikos Christodoulides has said, stressing the Government’s intention to support the sector. Speaking at an 8 May dinner on the occasion of the 40th anniversary of the establishment of the Cyprus Land and Building Developers Association (LBDA) the President noted that […]
The real estate market returned to an upward trajectory in April after the muted sales in March. The increase in sales in Nicosia and Larnaca was particularly impressive, while Limassol also moved up, maintaining the lead by a margin. Sales reached 5,000 According to data from the Department of Lands and Surveys, the number of […]
Cyprus on Thursday joined in the celebrations for Europe Day with events and ceremonies across the island marking the occasion – with the added significance of May 1 also commemorating the 20th anniversary of the Republic’s accession to the EU. The celebrations kicked off early in the day at Eleftheria Square in the capital, with the […]
Growth in Cyprus will be at 2.9% in 2024, according to the April projections published on the website of the republic’s Ministry of Finance.Unmute Remaining Time -0:00Fullscreen For the years 2025-2027, GDP is expected to grow further by 3.1%, 3.2% and 3.3% respectively. (CBN)
The United Arab Emirates (UAE) tourism market is rising steadily for Cyprus, Deputy Minister for Tourism Costas Koumis has said, stressing that the Middle East and the Asian markets deserve more attention by Cypriot tourism stakeholders. In a statement on the conclusion of his contacts in the Arabian Travel Market and the Annual Investment Meeting AIM Congress […]
Revenue from tourism returned to growth in February, following the annual reduction shown in the previous month. According to CyStat’s Passengers Survey, tourism revenue amounted to €65.1m in February 2024 compared to €56.6m in the corresponding month of the previous year, recording an increase of 15%. For the period of January – February 2024, revenue […]