A US military assessment team will be in Cyprus this week as part of defense upgrades, a Cypriot government spokesperson announced Tuesday. In his announcement, Konstantinos Letymbiotis stressed that deepening military cooperation with allied forces contributes decisively to the maintenance of peace and stability in the region. The Germany-based American military assessment team will visit […]

In 2024, Cambodia exported US $ 13.92 billion worth of clothing, textiles, footwear, and travel items, rising 23 per cent over the previous year, according to a report from the Ministry of Commerce. According to the data, textiles worth US $ 499 million were delivered to foreign markets last year, up 17 per cent. Garments […]

When we think of traditional businesses, the images that come to mind often involve desks, long working hours and an endless grind. For many women, especially in Cyprus, this has been the standard route to financial independence and success. But what if you could break away from the standard pattern, embrace your creativity, and build […]

Tourist arrivals in 2024 surpassed 4 million for the first time, breaking the previous record of 3,976,777 set in 2019. Deputy Tourism Minister Kostas Koumis hailed the milestone as a historic achievement, accompanied by another record: revenue is projected to exceed €3 billion. Arrivals increased by 5.1 per cent compared to 3,845,652 tourists in 2023. December […]

The European Commission has highlighted what it has described as Cyprus’ “notable transformation” in its vehicle market during 2024, with electric vehicles (EVs) and hybrids steadily gaining traction. “EVs doubled their market share, accounting for 4.0% of total registrations, up from 2.7% in 2023. Meanwhile, hybrids surged to 37.1%, reflecting shifting consumer preferences toward sustainable […]

Shipping Deputy Minister Marina Hadjimanolis, and Gender Equality Commissioner Josie Christodoulou hosted a press conference on Wednesday at the Presidential Palace to launch the ‘Women in Shipping’ campaign. This initiative, a collaboration between the commissioner and the Deputy Shipping Ministry, seeks to raise awareness and highlight the growing role of women in the maritime sector. […]

The electronic money institutions (EMIs) sector is experiencing rapid growth, driven by the increasing demand for digital transactions, according to Moneygate founder and CEO Nicolas Treppides. “As we step into 2025, the outlook for EMIs remains highly promising, though emerging challenges are shaping a dynamic and demanding landscape,” he explained.  Treppides also commented on the […]

The Bank of Cyprus has made significant progress in implementing measures designed to alleviate financial pressures on its customers, particularly through reduced charges and lower interest rates. According to the bank, nearly all the commitments announced have been fulfilled, with additional initiatives underway. As of January 10, the bank has introduced a series of subsidies […]

Cyprus-based venture capital company 33EAST, supported by the European Investment Fund, has raised €26 million to launch its first venture capital fund, aiming to boost the island’s start-up ecosystem and foster innovation.  The fund, launched in January, is backed by the Cypriot government through the ‘National Recovery and Resilience Plan’, the Bank of Cyprus, and […]

The European Banking Authority (EBA), in coordination with the European Systemic Risk Board, has released macroeconomic scenarios to assess the resilience of banks in Cyprus as part of the EU-wide 2025 stress test. The scenarios, which include baseline and adverse projections, aim to evaluate the financial sector’s ability to withstand negative economic and financial shocks while identifying systemic risks. […]