Passenger traffic at Cyprus’ airports has topped the one million mark by April for the first time in history, the Ministry of Transport, Communications and Works has announced. It said that Larnaka and Pafos airports welcomed 1,157,414 passengers throughout April 2025, recording an increase of 20.66% compared to the same month in 2024, and that for the January […]

BoC now tops Greek and Cypriot banks in deposit rating Credit rating agency Moody’s on Tuesday upgraded the long-term deposit ratings of the Bank of Cyprus to A3 from Baa1, reflecting continued strengthening of the bank’s financial position. In addition, the agency kept the bank’s outlook on deposit ratings as stable. According to the agency’s latest report, the Bank of […]

Cyprus recorded over 1.15 million passengers at its two airports in April 2025, crossing the one million threshold for the first time in a single month, the Transport Ministry said on Tuesday. Traffic at Larnaca and Paphos airports rose by 20.66 per cent compared to the same month last year. Additionally, total passenger numbers for the January–April period climbed by 11.83 per […]

Leptos Calypso Hotels Public Ltd, a member of the Leptos Group, recorded a significant financial turnaround in 2024. Specifically, the company on Tuesday posted a consolidated net profit of €3.25 million, recovering from a €570,830 loss in 2023. According to the company’s annual financial statements for the year ended December 31, 2024, the parent company also reported […]

Hello May, hello spring festivals. Over a dozen festivals are about to pop up and add colour and life to every corner of the island. Here are some not to be missed! Calling all caffeine lovers is the Cyprus Specialty Coffee Festival on today in Larnaca. Taking over the Municipal Gardens are more than 10 Cypriot coffee […]

The most expensive property transaction in Cyprus during March was recorded in Nicosia, where an office building in Ayioi Omologites sold for 29.3 million euros ($31.7 million), according to a report by property analytics firm Ask Wire. The top 10 property sales across Cyprus in March totalled 56.5 million euros, with Larnaca recording four transactions among the […]

The Industrial Turnover Index in Cyprus rose by 4.3% in February 2025 compared to February 2024, reaching 130.4 units, the Statistical Service of Cyprus (CyStat) announced on Monday, the base for comparison being 100 points in 2021. 

Cyprus’ banking sector has undergone a profound transformation since the 2013 financial crisis, marked by sweeping consolidation, branch closures, and a rapid shift towards digital banking. Since 2013, several key players have exited the scene. Laiki Bank and the Cooperative Bank have both shut down. Hellenic Bank, which absorbed the Cooperative, is now part of […]

The National Bank of Greece (Cyprus) posted a net profit after tax of €13.6 million for 2024, marking a 143 per cent increase compared to the previous year. According to the bank’s annual results, total assets rose to €1.2 billion, a year-on-year increase of 123 per cent, attributed to “growing customer trust and the enhanced market presence of the bank”. Moreover, the […]

Limassol leads in real estate value, Nicosia in transaction growth The total value of all real estate transactions in Cyprus reached a record-high €5.71 billion in 2024, reflecting a modest one per cent increase compared to 2023, according to a report released on Monday by PwC Cyprus. The firm also noted that the total number of transactions decreased slightly to 23,900, representing a […]

Work on the second phase of development at Larnaca and Paphos airports is officially underway, with the projects expected to boost the combined annual capacity of the two hubs to more than 17 million passengers. According to an announcement by Hermes Airports, the upgrades represent a total investment of €170 million, to be fully funded by the airport operator. Maria Kouroupi, Director of […]