Here are the top business stories in Cyprus from the week starting April 15: In recent developments from Cyprus, Marinos Christodoulides, President of the Cyprus Stock Exchange (CSE), emphasised the significance of enhancing the bond market and introduced European Medium-Term Notes (EMTNs) by the Republic of Cyprus into the CSE. These initiatives are part of broader ambitions to expand […]
This spring season will bring a unique spectacle of local and Japanese cherry blossoms. The sight is so magnificent that a Japanese Cherry Blossom festival is organised for the first time in Cyprus, specifically at Sakura Park in Kambos. This Sunday, the Kambos Community Council, the Kambos-Tsakistra Development Cultural Association and the Embassy of Japan […]
The Cyprus Securities and Exchange Commission (CySEC) has called for financial education to be included in the core curriculum in schools as it completed its rich and targeted activities program for this year’s Global Money Week 2024 (GMW 2024). The GMW campaign is an international initiative dedicated to enhancing financial literacy, especially among the youth. As pointed […]
The Commonwealth and the Republic of Cyprus have taken a significant step forward by signing a three-year Memorandum of Understanding (MoU) for the establishment of a Commonwealth Blue Charter Centre of Excellence in Larnaca. This initiative aims to strengthen governance for a sustainable blue economy and support scientific research for ocean protection. Notably, under Cyprus’ […]
Hellenic Bank and bank workers’ union (Etyk) clinched a deal over collective agreements on Friday, after a government-supported mediation process. Labour Minister Yiannis Panayiotou heralded the development “after a long period of disagreements”. He described it “as an important day for labour relations in the banking sector.” Panayiotou had submitted a mediation proposal which both Hellenic Bank […]
The Lamda Development group announced a new record high for 2023 on Wednesday. Its consolidated operating result (EBITDA) for 2023 showed profits of 206 million euros, a 69% increase compared to €122 million in 2022. The group’s total EBITDA before asset valuations and other adjustments amounted to a profit of €132 million in 2023, compared […]
The Cyprus Securities and Exchange Commission (CySEC) has called for financial education to be included in the core curriculum in schools as it completed its rich and targeted activities program for this year’s Global Money Week 2024 (GMW 2024). The GMW campaign is an international initiative dedicated to enhancing financial literacy, especially among the youth. As pointed […]
Anexartisias in Limassol will be converted into a one-way street according to the decision of the Municipal Council, as a temporary solution and until the proper conditions for it being opened only to pedestrians are created, something considered difficult amid conditions in Cyprus. Essentially, cars will enter from Pentadromos in the direction of the sea […]
Cyprus has, in the last two years, one of the largest increases in the share of Renewable Energy Sources (RES), among the EU member states, Energy Minister George Papanastasiou has said. He was speaking during the 14th Assembly of the International Renewable Energy Agency (IRENA) in Abu Dhabi on 18 April. In the framework of […]
The Ministry of Finance has welcomed the new estimates for Cyprus by the International Monetary Fund (IMF) as part of the World Economic Outlook (WEO). According to the IMF estimates, the growth rate for 2024 is projected at 2.7% and for 2025 at 2.9%. The forecast for 2024 remains the same as the previous IMF […]
Ministry of Energy, Commerce and Industry Permanent Secretary, Marios Panayides, has stressed need to enhance collective planning for the development of electricity networks, particularly in regions lacking interconnections such as Cyprus. Representing Cyprus at the informal EU Energy Council held in Brussels on 15 and 16 April, Panayides stressed the importance of addressing issues related to […]
Deputy Minister of Tourism Kostas Koumis has expressed satisfaction over a 9.8% rise in tourist arrivals in March, according to figures released by CySTAT. “In the face of challenges, our country’s tourism sector demonstrates resilience,” Koumis noted in a written statement on 17 April. He added that the Deputy Ministry closely monitors every development that directly or […]
The University of Cyprus and Boltzmann Research, a team of scientists seeking to tackle the challenge of predicting financial markets, have signed a Memorandum of Understanding (MoU), according to a statement released this week. The MoU, signed by professor Konstantinos Fokianos, Head of the Department of Mathematics and Statistics at the University of Cyprus, and Chariton Christou, CEO […]
Agrotourism in Cyprus is on the rise, according to statements made by Deputy Minister of Tourism Kostas Koumis at the 18th Annual General Assembly of the Cyprus Agrotourism Society held this week in Platres. Significantly, this trend is also evident in the overnight stays recorded in agrotourism accommodations, with a total of 166,293 in 2023 […]
Egypt desperately needs a major gas discovery to shore up its declining production The submission of the updated development plan for the Aphrodite gasfield by Chevron at the beginning of April, and the subsequent statement by Energy Minister George Papanastasiou that the earlier “difficulties have been overcome” is good news not only for Cyprus but […]
Cyprus Minister of Agriculture, Rural Development and Environment Maria Panayiotou will be in Athens to participate in the 9th International Conference “Our Ocean Conference” (OOC-9), a leading global initiative for the protection and sustainable management of the oceans. The Ministry has announced that the 16 April Conference will host representatives of more than 120 countries, […]