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 […]
The Cyprus Securities and Exchange Commission (CySEC) on Tuesday released a statement requiring Cyprus Investment Firms (CIFs) to adopt the European Banking Authority (EBA) guidelines on the application of the group capital test, which will take effect on January 1, 2025. According to the commission, these guidelines aim to establish uniform regulatory practices for calculating […]
First up was Larnaca itself, where the new Rise Street Art Hotel has brought a fantastic funkiness to the city AS Britain shivered, I was wandering along a sandy beach in Cyprus in dazzling 21C sunshine. At the water’s edge, a family relaxed on sunloungers while a man struck yoga poses. And even in winter, […]
‘This is a place where resilience runs deep, where every struggle only makes us stronger’ In Cyprus, legend tells of a warrior so mighty that his strength reshaped the very land… Digenis Akritas is our hero: a mythical figure who saved Cyprus from the invading Saracens. As he leapt across the sea to protect the […]
Authorities in Kato Paphos are embarking on a project to construct a modern four-lane highway. The road will stretch from the Tombs of the Kings in Kato Paphos to Coral Bay in Peyia, addressing long-standing infrastructure needs in this popular tourist region. Government departments, planners, and authorities have begun coordinated efforts to realise this significant […]
The Techo Takhmao International Airport (TIA), which is now nearing construction completion in Kandal Province’s Takhmao district, is a large-scale airport development that might just transform Cambodia’s capital city, Phnom Penh, into the “new Singapore” of the region, observed an op-ed article published by UK-based media outlet the Daily Express. The article published on October […]
Cyprus’ nominal GDP amounted to €31.34 billion in 2023 (current prices) marking an annual increase of 6.5%, according to a major revision for 1995-2022 and a revised estimate for 2023, released by CySTAT. Cyprus’ real GDP (measured in volumes), expanded by 2.6% (instead of the previous 2.5%) amounting to €26.96 billion. The top five sectors […]
The government is monitoring developments in the economy and always responds in the context of the capacity of the economy and the public finances, Finance Minister Makis Keravnos has said, adding that the government is not dragged by “slogans and pressures.” The Finance Minister will on 21 October take part in a meeting between the […]
Greece and Cyprus have announced their cooperation in order to jointly promote their participation in the ‘European Transport Corridors,’ with mutual benefits and the strengthening of port infrastructure in both countries. This was announced after a meeting at the Ministry of Transport on the afternoon of 18 October, between the Minister of Transport, Communications and Works, Alexis […]
An inaugural event was held by the Republic of Cyprus mission in Mumbai, themed ‘The Cyprus-India Experience: Perspectives,’ which was spearheaded by Viraj Kulkarni, an entrepreneur and governance consultancy expert of global repute. Kulkarni’s leadership as Honorary Consul is expected to accelerate progress in fostering stronger ties between Cyprus and India, particularly in tourism and […]
New home sales in Cyprus reached €1.9 billion during the first nine months of 2024, according to a report from Nicosia-based firm Landbank Analytics. According to the report, this figure represents a 25 per cent increase compared to the same period in 2023. The report, based on sales contracts submitted to the Department of Lands […]
Cyprus has developed into a modern, effective and comprehensive shipping hub and is now the biggest shipping management centre in Europe and one of the three largest in the world, Deputy Shipping Minister Marina Hadjimanoli said on Saturday. She was speaking at the opening of the fourth Thalassa festival in Limassol inaugurated by her and […]
Cyprus has emerged as a standout performer in the European Union’s latest life satisfaction survey, showing a marked improvement over the past decade. According to recent Eurostat data, Cyprus saw the largest increase in life satisfaction among EU member states, with its score rising from 6.2 to 7.5 out of 10. This surge places Cyprus […]