The Turnover Value Index of Wholesale Trade during the second quarter of 2024 recorded an increase of 7.7% compared to the corresponding quarter of the previous year. According to CySTAT, for the same quarter, the Turnover Value Index of Sales and Repair of Motor Vehicles recorded an increase of 11.8% compared to the corresponding quarter […]

Cyprus’ Composite Leading Economic Index (CCLEI) experienced a mild acceleration in August, recording a year-on-year increase of 0.8 per cent. This follows year-on-year increases of 0.5 per cent and 0.4 per cent in July and June 2024, respectively. According to a statement from the University of Cyprus’ Economics Research Centre (CypERC), which compiles the index, […]

Cyprus’ shipping registry has seen a 12 per cent increase in sea-going vessels, according to Deputy Minister of Shipping Marina Hadjimanolis. Hadjimanolis’ update on the Cypriot shipping registry was delivered during a visit to Athens, from September 18 to 20, where she also met key maritime industry figures to discuss future collaborations. Moreover, the deputy […]

The Cyprus Chamber of Commerce and Industry (Keve) and Invest Cyprus on Monday co-organised a forum that sought to promote the island as a place through which Lebanese businesses can gain access to the European Union. The organisers said that the event, titled ‘Discovering Cyprus: A Hub for Business Growth and Opportunities’, marked a “significant […]

The Bank of Cyprus on Monday officially resumed trading on the main market of the Athens Stock Exchange (ATHEX) after a seven-year absence. According to an announcement by the bank, “the milestone was marked by the traditional ringing of the bell, symbolising the start of the trading session”. In addition, the bank said that “this […]

The Women’s International Shipping & Trading Association (WISTA International) is set to hold its 50th annual general meeting and Conference from October 9 to 11 at the Amathus Beach Hotel in Limassol. The event will bring together 300 global leaders to discuss innovation, diversity, and sustainability in the maritime and trade industries. This conference will […]

The Bank of Cyprus on Monday officially resumed trading on the main market of the Athens Stock Exchange (ATHEX) after a seven-year absence. According to an announcement by the bank, “the milestone was marked by the traditional ringing of the bell, symbolising the start of the trading session”. In addition, the bank said that “this […]

Cyprus’ wholesale trade and motor vehicle sectors grew during the second quarter of 2024, according to a report released on Monday by the Cyprus Statistical Service (Cystat). Specifically, the turnover value index for wholesale trade rose by 7.7 per cent compared to the same period last year, while the index for the sales and repair […]

Cyprus needs a long-term energy strategy with well-defined objectives, according to the chairman of the Cyprus Energy Regulatory Authority (Cera) Andreas Poullikas. “The provision of affordable energy services is key to sustainable development,” Poullikas said in a recently published analysis piece. However, he also noted that the key challenge facing countries today is to develop […]

Aspiring entrepreneurs will gather in Nicosia on Tuesday for the Startup World Cup Nicosia Finals, an event offering Cypriot startups the chance to showcase their ideas on a global stage. Organised by The Future Leaders Club and presented by Asbis, the event will take place at the ‘CIM – Cyprus Business School’ from 17:00 to […]

Greek and Cypriot energy regulators have approved €550 million in recoverable revenues for IPTO, Greece’s power grid operator, for 2024-2025, clearing a major regulatory obstacle for the Greece-Cyprus electrical interconnection project. This decision paves the way for IPTO to issue a full notice to proceed to cable manufacturer Nexans, effectively resolving an impasse that had stalled the project. […]

Cyprus leads the EU in aeroplane use, according to Eurostat data published on the occasion of the European Mobility Week. The data show Cyprus has a high reliance on air travel, with 23.2% of passenger kilometres attributed to this mode of transport. Air transport has seen a notable increase EU-wide, rising by 6% compared to […]

Finance Minister Makis Keravnos on Saturday hailed rating agency Morningstar DBRS’ decision to give Cyprus a credit rating of BBB (high) and upgrade the island’s outlook from “stable” to “positive”. Reacting to the news, he said the government “will continue to … promote the appropriate financial plans which will allow the maximum possible utilisation of all the […]