Christodoulides says tourism remains cornerstone of Cyprus’ economy President Nikos Christodoulides on Thursday addressed the 91st HOTREC general assembly in Paphos, highlighting the vital role of tourism in Cyprus’ economy, the country’s sustainable development strategy, and upcoming European priorities under Cyprus’ EU presidency in 2026. HOTREC is the umbrella association representing Europe’s hospitality industry to EU institutions, advocating […]

The International Monetary Fund (IMF) expects a higher growth rate for Cyprus for 2025 and 2026 in its October edition of the World Economic Outlook (WEO) compared with the estimates included in the April edition. Specifically, it projects that the growth rate will reach 2.9% of GDP in 2025 and 2.8% in 2026, compared with […]

Cyprus will host one of the most significant events in the European tourism and hospitality industry this year, as the 91st General Assembly of HOTREC is set to take place in Paphos from October 16 to October 17, 2025. According to an official announcement, this high-profile event represents a landmark gathering for members and official representatives of HOTREC, the […]

Cyprus economy set for 2.9 per cent growth in 2025, IMF reports Finance Minister Makis Keravnos welcomed the International Monetary Fund’s (IMF) latest forecasts on Wednesday, saying they confirm both government projections and the continued strong performance and resilience of the Cypriot economy. Speaking after a cabinet meeting at the Presidential Palace, Keravnos said he was pleased with the IMF’s October […]

Hadjimanolis highlights Cyprus unity, stability and maritime strength Cyprus marked the 65th anniversary of its independence with a celebratory event in London earlier this week, where Deputy Minister of Shipping Marina Hadjimanolis spoke on a number of key issues, including the island’s maritime sector. Specifically, Hadjimanolis highlighted the island’s continued efforts toward reunification, its role as a pillar of stability […]

The EU’s readiness for issues related to artificial intelligence must be constantly renewed with new information, new skills and continuous improvement of models, Christos Ellinides, Director-General of the European Commission’s Directorate-General for Translation (DGT) suggests. The Cypriot official was in Nicosia recently for a conference entitled ‘Empowering Europe with AI: The European Commission AI-based Multilingual […]

The Finance Ministry’s debt management office will hold a public auction of €25 million in treasury bills on October 20, 2025. The auction will cover bills with a 13-week maturity and will take place from 08:30 a.m. to 11:30 a.m., the debt management office said. In a notice published in the official gazette of the Republic on Friday, the […]

Here are the top business stories in Cyprus from the week starting October 6: One of the government’s main goals, the qualitative and further strengthening of the Cypriot ship registry, has been achieved, president Nikos Christodoulides said on Sunday evening. Speaking at a dinner at the presidential palace marking the start of the Maritime Cyprus 2025 […]

The European Union stands ready to support the transformation of shipping into an industry with cleaner fuels, energy efficiency and innovation, European Commissioner for Fisheries and Oceans, Costas Kadis, has said. He was speaking at the Maritime Cyprus 2025 Conference in Limassol on 8 October.  This year’s theme, ‘Unlocking the future of shipping’, he said, aligns well with the […]

The Association of Cyprus Banks (ACB) on Thursday announced that Panicos Nicolaou, chief executive officer at the Bank of Cyprus, has been appointed as its new president following the most recent meeting of board of directors. Demetris Shacallis, chief financial officer at Eurobank, has been appointed vice-president. According to the association’s statutes, both the president and vice-president will serve […]