Limassol Municipality is expected to issue a building permit by the end of May for the Aura project, which will become Cyprus’s tallest building at 181.5 metres with 44 floors. The skyscraper will be constructed on the former site of the ERA Olympia shopping centre. Investors are finalising agreements to comply with compensatory measures set […]
Deputy Minister of Tourism Kostas Koumis pointed out the imperative of preserving tourist hotspots, particularly beaches, at the Cyprus Sustainable Tourism Initiative (CSTI) event titled ‘Beach without Plastics’. The gathering took place at Kampouri Beach in Ayia Napa, drawing attention to the ongoing efforts to reduce plastic use in these vital areas. “Beaches are undoubtedly […]
Transport Minister Alexis Vafeades underlined the government’s commitment to safeguarding public interest during his speech at the 29th annual general assembly of the Federation of Building Contractors Associations of Cyprus. Representing the President of the Republic, Minister Vafeadis highlighted the delicate balance between strong governmental partnerships and the upholding of public interest. In his address, […]
Cyprus is revising its current national industrial policy to align with the European approach, stated Marios Panayides, Permanent Secretary at the Ministry of Energy, during a recent EU Competitiveness Council meeting held in Brussels. According to an official announcement, the council adopted the conclusions “on a competitive European industry as a driver of our green, […]
The Cyprus Stock Exchange (CSE) and the Hellenic Energy Exchange (HEnEx) will sign a Memorandum of Understanding (MOU) governing negotiations on the secondary market of Guarantee of Origin certificates from renewable energy sources, it emerged on Monday. The signing ceremony is scheduled for Thursday, May 30, 2024, at the Presidential Palace. According to a statement released on Monday […]
Sir Stelios Hadji-Ioannou, renowned for establishing the easy family of brands and serving as the founder and president of the Stelios Philanthropic Foundation, has launched the second annual “Stelios Awards for Young Entrepreneurs in Cyprus.” According to an announcement released this week, this initiative aims to foster young entrepreneurship by distributing €100,000 among the top three […]
Despite the changes in the Recovery Plan and the delays observed in its implementation, Cyprus has managed to promote important reforms and launched public investments by announcing or signing several contracts, some of which are ongoing, while some other projects have been completed. In addition, more than 40 sponsorship projects have been announced and private […]
Prak David, Secretary of State of the Ministry of Agriculture, Forestry and Fisheries (MAFF), met with an Australian delegation from the Agribusiness Asian Group (AAG) last week to discuss the group’s plans to begin biomass research and production in the Kingdom, in a bid to create more environmental sustainability food production within the agricultural sector. […]
The White Horse Port has finished about 90% of its construction and is scheduled to be completed soon. Mr. Kov Kimhak, Company Representative, stated yesterday that “we have been implementing the project to build this port for two years, in which the results have reached around 90%.” “In that, we succeeded in pouring soil and […]
Cham Nimul, Minister of Commerce, on May 27, presided over the opening ceremony of the seminar on “Beyond Borders: Bringing Cambodian Products to Global Markets through Alibaba.com, ”which was attended by leaders of the Ministry of Commerce, representatives of the Ministry of Posts and Telecommunications, the Cambodian Chamber of Commerce, Alibaba, and many national and […]
Frederick University and port management company DP World Limassol signed a Memorandum of Understanding (MoU) this week, seeking to “further strengthen their strategic partnership in fields of common interest”, according to an announcement released on Friday. The announcement noted that the MoU was signed on Thursday by DP World Limassol CEO Simon Pitout, and Frederick University’s Head of the Department […]
The Limassol Boat Show was officially inaugurated on Thursday evening at the Limassol Marina by Deputy Minister of Tourism Kostas Koumis. In a brief address, Koumis highlighted that the Limassol Boat Show has become a staple event, significantly contributing to local tourism by attracting exhibitors and visitors alike. He also extended his best wishes for […]
Hellenic Bank on Friday released its financial results for the first quarter of 2024, recording an after-tax profit of €93.3 million, with interim CEO Antonis Rouvas saying that the year “started on a strong footing” for the bank. “This performance demonstrates the resilience and robustness of our business model, despite the continuing challenges and uncertainty rising from […]
Eurobank Cyprus recently clinched the Digital Transformation Award at the Temenos Community Forum conference in Dublin, which took place from May 14-16. This accolade celebrates the bank’s successful execution of a three-year digital overhaul, where 85 per cent of its core banking, digital channels, data warehouse, and wealth management systems and infrastructures were modernised. By […]
Representatives from social partner organisations yesterday met at the Productivity Centre (KEPA) to discuss attracting Turkish Cypriots to training programmes offered under the European Year of Skills initiative. The government had earlier announced unilateral measures to improve the job prospects of Turkish Cypriots, including access to training programmes. KEPA, which implements the national action plan […]
Cyprus’ property market experienced price growth across most categories in the first quarter of 2024, according to the latest RICS Cyprus Property Price Index with KPMG in Cyprus. Apartments led the surge, with both sales and rental prices rising by around 10% year-on-year. Compared to the same period in 2023, apartment sales prices increased by […]