Invest Cyprus and the Cyprus Stock Exchange (CSE) have signed a Memorandum of Understanding (MoU), aimed at strengthening their efforts and further develop joint initiatives to actively attract investments to Cyprus. “The MoU emphasises the exchange of expertise and information, reinforcing our shared commitment to enhancing the investment landscape,” Invest Cyprus said announcing the news. […]
Cyprus this year achieved its best nine-month tourism performance on record, according to Deputy Minister of Tourism Kostas Koumis. Speaking oy at the inauguration of the Cyprus Airways Flying Academy at Larnaca Airport, Koumis expressed optimism for continued success in 2024 and beyond. “This year has marked the best nine months in the history of […]
Scope Ratings has upgraded Cyprus’ credit rating to A- from BBB+, marking the country’s first A-level rating from a major credit agency. This upgrade reflects Cyprus’ improved economic stability, positive fiscal outlook, and reduced risks in the financial sector. The upgrade is seen as a significant milestone, highlighting the country’s strengthened financial footing and forecasting […]
The Ministry of Energy, Commerce, and Industry on Tuesday approved changes to the “conserve and upgrade for businesses and other entities” grant scheme. The scheme aims to provide support for energy efficiency improvements in existing buildings and facilities. According to the announcement, this measure, funded with a budget of €19 million, will run until December […]
Limassol led Cyprus’ high-value real estate market in September, driving €29.8 million in top property sales, according to real estate analytics firm Ask Wire. The district accounted for six of the ten most expensive transactions, including a €5 million field in Yermasoyia. Its analysis shows that Limassol secured most high-value deals, accumulating €18.5 million in […]
The Deputy Ministry of Tourism is set to launch a series of initiatives in 2025 to support, promote, and enhance Cyprus as a tourist destination, according to the budget it submitted to the House. The budget outlined the ministry’s strategies to boost the tourism sector through targeted advertising, strategic partnerships, and sustainable development projects. A […]
When it comes to legislating this sector, Cyprus has some catching up to do If I ask you to say the first thing that comes to mind when I say “short-term rentals”, what would that be? Short-term rentals, or STRs for short, have become increasingly popular worldwide, thanks to platforms like Airbnb and Booking.com. STRs pose […]
Financial support and advisory services are essential for Cyprus’ small and medium-sized enterprises (SMEs) to enhance resource efficiency, according to a Eurobarometer survey. The survey, published by the European Commission, highlighted the need for such support to help SMEs expand their green initiatives and embrace sustainable practices in the marketplace. The survey, conducted from June […]
Cyprus celebrated the anniversary of 28 October 1940 with school parades on Monday, featuring representatives from universities, higher education institutions, and technical schools carrying Cypriot and Greek flags. President Christodoulides received the parade’s salute at 11:00 in front of the Greek Embassy, accompanied by the Minister of Education, Sports and Youth, and Greek Ambassador to Cyprus Ioannis […]
Cyprus has marked the best nine months ‘of all time’ in tourism this year, according to Deputy Minister of Tourism Costas Koumis. Making statements at the opening of the Cyprus Airways Flying Academy at Larnaca airport, he said he was optimistic for a successful 2025. “We have had the best nine months of all time…arrivals […]
Cyprus marked ‘Oxi Day’ on Monday, commemorating Greece’s rejection of Axis forces’ demand to enter its territory on October 28, 1940, during World War II. In Nicosia, President Nikos Christodoulides presided over a student parade in front of the Greek embassy. Earlier in the day, he attended a religious service at Ayios Barnabas Cathedral in […]
The Paphos municipality’s technical projects committee aims to make Paphos the top city for quality of life, its chairman Philippos Philippou said on Monday. Speaking to the Cyprus News Agency (CNA), Philippou said that the municipality is set to upgrade the living standards for people in Paphos “through practical efforts”. The committee makes recommendations on […]
WASHINGTON — Chile and Cyprus are the latest nations to sign the Artemis Accords for sustainable space exploration, part of surge of new signatories this month. At a ceremony at NASA Headquarters Oct. 25, Aisén Etcheverry, Chile’s minister of science, technology, knowledge and innovation, signed the Accords on the behalf of that country. The ceremony was […]
ExxonMobil’s commitment to the region is proved by its extension to Egypt and Greece and renewed interest in Cyprus It has been over two-and-a-half years since ExxonMobil last drilled in Cyprus’ EEZ, but the company is about to come back. In an interview earlier this month the minister of energy, Giorgos Papanastasiou, confirmed that ExxonMobil […]
There have been significant changes to the tourism map of Cyprus since the record year of arrivals in 2019, with markets that were in the top positions five years ago slipping down the list and others showing a marked increase. The only market that has not only withstood the test time, but also cemented its […]
Here are the top business stories in Cyprus from the week starting October 21: A significant share of Cypriot wealth continues to languish in low-interest bank deposits, despite alternative investment options, according to Phanos Vladimirou, senior investment specialist at Athlos Capital. He attributed this persistent trend to excess liquidity, low competition, and a lack of financial […]