Larnaca Mayor Andreas Vyras inspected ongoing urban regeneration works in the city centre on Wednesday, accompanied by representatives from local business associations, to address concerns about the project’s impact on the area. The first phase of the redevelopment project, which includes the renovation of streets and squares, is at an advanced stage with utility services now underground, the municipality said […]

President Nikos Christodoulides has defended his government’s economic policies and dismissed opposition criticism of public sector hiring as he prepares for a trip to the United States aimed at boosting investment. Speaking to reporters in Voroklini on Saturday, Christodoulides outlined his upcoming visit to New York, Texas, and San Francisco, starting on Wednesday. “This visit […]

Prestigious Annual Awards Program Recognizes Standout Financial Technology Products & Companies Around the World Libertex, part of the Libertex Group and one of the leading online brokers, today announced that it has been selected as winner of the “Best Online Trading Platform” award in the 9th annual FinTech Breakthrough Awards program conducted by FinTech Breakthrough, an independent market intelligence organization […]

Cyprus’ Deputy Ministry of Shipping on Friday announced the launch of the second Gender Equality Award in Cypriot Shipping for 2025. This follows a decision by the Cabinet to establish the initiative as an annual institution. “The award is presented annually by the Deputy Minister of Shipping, on behalf of the president of the Republic of Cyprus, during […]

The Finance Ministry has welcomed the observations and recommendations made by the International Monetary Fund (IMF) during its mission to Cyprus as part of the Article IV consultations. In a statement released on Friday, the ministry expressed agreement with the IMF’s assessment that the Cypriot economy has demonstrated resilience in the face of successive shocks and that fiscal indicators remain strong […]

Cyprus has shown resilience in the face of successive economic shocks, with growth remaining among the highest in the euro area, according to the International Monetary Fund (IMF). In a statement released on Friday, at the conclusion of an IMF mission to Cyprus from March 17 to 28, mission chief Alex Pienkowski highlighted key economic […]

Here are the top business stories in Cyprus from the week starting March 24: The Cyprus Borrowers Association (Syprodat) released a statement on Monday saying that despite recent interest rate cuts by the European Central Bank (ECB), many borrowers have not noticed a decrease in their monthly loan repayments. According to the association, this can […]

The importance of contract management in Public-Private Partnerships (PPPs) was highlighted by Edward Farquharson, Senior Adviser of the European Investment Bank (EIB), emphasising that the success of such collaborations depends largely on the quality of the contract and its proper implementation. Farquharson, speaking on the second day the international summit ‘Unlocking Investment Through PPP ‘, […]

The proposed Mall of Limassol is poised to create a premier destination for shopping, dining and entertainment in Limassol. As the project advances through important planning and approval phases, we spoke to Polys Tsiartziazis, onsite Development Manager for the proposed Mall of Limassol, about the latest milestones and the exciting potential this development holds for […]

Deputy Tourism Minister Kostas Koumis used his participation in a professional symposium to highlight Larnaca’s appeal as a tourist destination. The minister outlined Larnaca’s recent progress in terms growing its tourism sector, while the city’s bid to be selected as the European Capital of Culture 2030 was also discussed. The event, focused on tourism management […]

The independent expert commissioned to evaluate Eurobank’s public offer for the remaining shares of Hellenic Bank has deemed the proposed exchange of €4.843 per share as fair and reasonable. This assessment, based on the independent valuation report, concludes that “the proposed consideration to be paid by the offeror to the shareholders of the company in […]

The Eurobank Group on Thursday released a statement reaffirming its “commitment to further expansion and its continued confidence in the Cypriot economy”. It should be noted that the group’s management is currently in Cyprus for a board of directors meeting. In this context, the management of Hellenic Bank, a member of the Eurobank Group, hosted […]

The Bank of Cyprus on Thursday announced its final financial results for 2024, confirming profits of €508 million, as previously indicated in its preliminary results. In its announcement, the bank underlined its strong capital position and its ability to generate returns for shareholders. According to the final results, net interest income for the year ending […]