The resort town of Ayia Napa is experiencing its strongest post-pandemic tourism season to date, defying expectations of lower arrivals due to Middle East tensions, Mayor Christos Zannettou told local media on Thursday. All data, including overnight stays, bed occupancy, and wastewater flow, show an increase from 2023, Zannettou said, noting a rise in visitors from both […]
The car market is still going strong, with passenger saloon car registrations reaching 24,126 in the first seven months of 2024, compared to 21,178 in the corresponding period last year, registering an increase of 13.9%. The percentage of used cars decreased marginally, which, however, still make up the majority with 13,975 registrations or 57.9%, compared […]
The Deputy Ministry of Shipping has announced that it has launched a Public Consultation for the adoption of a National Strategy on Cruise Tourism. “In recognition of the capabilities and potential of cruise tourism to reinforce economic growth, create new jobs and promote Cyprus’ culture, but also the advantages and particularities of Cyprus as a […]
The Deputy Ministry of Shipping has announced that the Council of Ministers has decided to extend the Agreement for the execution of the Cyprus-Greece Maritime Passenger Connection, for a further 3 years. According to a Ministry announcement, the decision was taken on 23 August after the evaluation of performance indicators based on the numbers of […]
The Cypriot economy is on an upward trajectory and displaying resilience, Finance Minister Makis Keravnos said on Friday, after briefing the Cabinet on the semi-annual fiscal policy report. In remarks following the cabinet meeting, Keravnos explained that the purpose of the briefing and report was to assess whether the financial indicators are in line with projections, noting […]
The Althaia barge, a new floating cold ironing unit powered by compressed biomethane, was recently launched at Limassol port, as part of the BioCNG-to-CI project. This initiative, which took place on August 13, aims to provide green electricity to ships at berth or at anchor, in turn supporting the decarbonisation of shipping and promoting the […]
Larnaca’s hotels are enjoying robust occupancy rates this summer, ranging from 80 to 85 per cent, according to Marios Polyviou, president of the Larnaca Hoteliers Association (Pasyxe). Speaking to the Cyprus News Agency (CNA), Polyviou said that “that most visitors are coming from Britain and Israel“, noting that “both July and August performing particularly well”. “We are very […]
The Cyprus Land Development Corporation (CDLC) has outlined a development programme aimed at providing affordable housing for eligible individuals, according to General Manager Eleni Simeonidou. CDLC’s initiatives include the sale of ready-made homes at affordable prices, construction of apartment buildings for rent, and the management of urban incentives designed to provide affordable apartments from private developers. The […]
The Defence Ministry and the Electricity Authority of Cyprus (EAC) has signed a Cooperation Agreement for the installation of photovoltaic systems, with a total capacity of 12MW, and energy storage systems, at the Ministry’s and the National Guard’s facilities, following a decision taken by the Council of Ministers. The agreement was signed by the Permanent Secretary […]
PwC Cyprus partner and telecoms lead Nicos Theodoulou on Thursday highlighted key strategies for telecom leaders to remain competitive amid rapid industry changes in the “Digital connectivity is more important than ever, especially with the rollout of 5G networks,” Theodoulou said, referencing the latest PwC Global Telecoms Industry Outlook report. He pointed out the potential […]
Cypriot banks have nearly eliminated their borrowing from the Eurosystem through Targeted Longer-Term Refinancing Operations (TLTROs), with the latest data from the Central Bank of Cyprus (CBC) showing repayments totalling €2.6 billion. According to the CBC’s monthly balance sheets, the remaining borrowing through TLTROs dropped to €100 million by the end of June, down from […]
A state-of-the-art cable station and offshore submerging infrastructure will be built in Cyprus to enhance digital connectivity in the eastern Mediterranean. The strategic cooperation between Grid Telecom and Tamares Telecom was announced on Wednesday. The cooperation sets the foundations for the creation of critical infrastructure through the development of a telecommunications hub on the island’s […]
Cypriot banks have nearly eliminated their borrowing from the Eurosystem through Targeted Longer-Term Refinancing Operations (TLTROs), with the latest data from the Central Bank of Cyprus (CBC) showing repayments totalling €2.6 billion. According to the CBC’s monthly balance sheets, the remaining borrowing through TLTROs dropped to €100 million by the end of June, down from €2.7 billion at the […]
Larnaca’s hotels are enjoying robust occupancy rates this summer, ranging from 80 to 85 per cent, according to Marios Polyviou, president of the Larnaca Hoteliers Association (Pasyxe). Speaking to the Cyprus News Agency (CNA), Polyviou said that “that most visitors are coming from Britain and Israel“, noting that “both July and August performing particularly well”. “We are very […]
The green and digital transitions are creating significant challenges for the labor market, making it imperative to continuously upgrade the knowledge and skills of individuals through lifelong learning activities. This was emphasised, among other things, by the Director General of the Human Resources Development Authority (HRDA), Yiannis Mourouzides, in statements to InBusinessNews, as he highlighted […]
There will be a new issue of Cypriot government bills on Monday, August 26, with the bills having a three-month duration, set to mature on November 29, 2024. Sophic, an online platform that allows clients to invest in government bills, announced this week that it intends to secure a portion of this new issue, continuing […]