International credit rating agency Moody’s has given a positive assessment on the mooted move by Hellenic Bank to acquire the operations of CNP Insurance in Cyprus and Greece, stating that it will help strengthen the bank’s activity network and revenue streams, thus reducing its dependency on interest income. According to Moody’s, as stated in the […]

Deputy Minister of Tourism Kostas Koumis has said that tourism is demonstrating an upward trend, noting that quarterly results demonstrate an increase of more than 5% compared to the previous year. In statements after a visit to the tourist areas of Protaras and Ayia Napa on 26 April, Koumis welcomed the fact that beaches and […]

Overseas travel from Cyprus showed a significant increase in the first quarter of 2024, which is mainly attributed to the fact that there were three consecutive three-day weekends in March. According to data announced by CySTAT, the number of overseas trips taken by Cypriots (and permanent residents of Cyprus) reached 128,085 in March compared to […]

From partying in LA to a semi-rural life in Larnaca, one man is always dressed to impress. THEO PANAYIDES finds him where art and engineering meet There’s a phrase that recurs in my conversation with 72-year-old Hi Tek Alexander (né Alexandros Tasou): “You cannot believe [it]”. It pops up now and then, a few days before […]

Hellenic Bank on Thursday announced that it has entered into exclusive negotiations and a put option with CNP Assurances for the acquisition of its subsidiary CNP Cyprus Insurance Holdings Limited, which operates in Cyprus and Greece. CNP Cyprus Insurance Holdings Limited consists of CNP Cyprialife Ltd, CNP Asfalistiki Ltd, CNP Zois SA and CNP Cyprus Properties […]

External reasons, combined with Cyprus’ economic conditions, are affecting both local and international demand in the local property sector, according to Michalis Tsangarides, director of Delfi Partners, who noted that foreign investors continue to sustain the market domestically. In a recent analysis piece, Tsangarides noted that during the first quarter of 2024, the market showed varied […]

The Paphos Regional Board of Tourism (Etap) is participating in the SMARTIES for SMEs project under the COSME programme, which is aimed at enhancing competitiveness in the tourism sector by building skills. This initiative provides a unique opportunity for small and medium-sized enterprises (SMEs) to undergo both green and digital transitions, thereby fostering innovation, resilience, and sustainability while improving […]

The Cyprus Stock Exchange (CSE) this week announced its acceptance of the introduction of government bonds to the market, in accordance with Article 58(1) of the Cyprus Securities and Stock Exchange Law. According to the announcement, these bonds, totalling €25 million, have emerged from an auction held on April 22, 2024. Moreover, in its statement, the exchange noted that it […]

The Bank of Cyprus on Thursday announced new stock acquisitions, having obtained a number of ordinary shares worth €0.10 each from its appointed trader, the Cyprus Investment and Securities Corporation (CISCO), earlier this week. Specifically, 26,132 shares were acquired on the London Stock Exchange (LSE) at an average purchase price of £3.27 and 10,800 shares on the Cyprus Stock […]

The number one problem that Cyprus is facing in relation to its future is addressing the challenges arising from energy, in relation to the great goal of strengthening the resilience and competitiveness of the Cypriot economy, President Nikos Christodoulides has said. Addressing a HELLENiQ ENERGY event on the evening of 24 April where the opening […]

The accord forged by the Cypriot Ministry of Labor alongside employer and trade union representatives to tackle workforce shortages, especially prevalent during the summer months, seems poised to confront a long-standing challenge head-on. The downsizing of hotels and tourism enterprises has taken a toll on the quality of services rendered. Minister Yiannis Panayiotou has joined […]

Reflect Festival, the premier tech & entrepreneurship event is back in Limassol for its 7th edition on May 30-31, hosted at Kolla Factory. As part of this event, ReflectX offers a dedicated startup program supporting ventures from Seed to Series A, providing unparalleled access, connections, and visibility. This year, CAPSBOLD joins as Reflect Festival’s official marketing […]

Hellenic Bank is reportedly on the verge of finalising a deal with French insurer CNP Assurances to acquire its insurance operations in Cyprus, it emerged on Wednesday. Citing sources within the market, the Cyprus News Agency (CNA) said that the agreement may be sealed as early as the end of this week. The acquisition is expected to […]

The 25th edition of the Travel Expo Cyprus, held from April 19th to 21st at the Cyprus state fair grounds, welcomed more than 10,000 visitors, both local and international, who were keen to explore the array of travel packages on offer. Organised by the Association of Cyprus Travel Agents (ACTA) and Display Art Plc, the exhibition proved to be a […]

London-based investment fund Helikon Investments Limited has raised its stake in the Bank of Cyprus, according to an announcement by the bank. The Italian investment fund disclosed that its voting rights, corresponding to shares in the bank, now amount to 4.04 per cent of the share capital, up from the previous 2.04 per cent. Bank […]

The Ministry of Energy has announced a call for proposals under the grant scheme for energy upgrading and boosting the competitiveness of large businesses, totalling €17 million, funded by the European Union (EU), Recovery and Resilience Plan (RRP). According to a statement by the Ministry, €10 million comes from the new EU REPowerEU Plan, through the corresponding […]