The Services Turnover Index recorded significant growth in both the fourth quarter and the full year of 2024, according to data released by Cystat. On an annual basis, for the period January – December 2024, turnover increased notably in administrative and support services (8.9%) and in accommodation and food services (8.2%). Strong gains were also […]
Neapolis University Pafos hosted an insightful panel discussion focused on enhancing economic and commercial ties between Cyprus and the United States on 5 March. Key participants included Julie Davis, U.S. Ambassador to Cyprus, Marios Tannousis, CEO of Invest Cyprus, John Georgoulas, US Chamber of Commerce Cyprus Member of the Board & Chairman of the Economic […]
The Transport and Storage Turnover Value Index recorded a 1.6% increase in the period January-December 2024, compared to the same period in 2023, according to Cystat. In the fourth quarter of 2024, the index reached 142.4 points (base year 2021=100), marking a 2.2% year-on-year increase. By economic activity, significant growth was observed in water transport […]
Larnaca and Paphos airports exceeded the 500,000-passenger threshold in February, the first time ever for this month, recording an annual increase of 8%, while passenger traffic has increased by 7.39% since the beginning of 2025, compared to 2024, according to an announcement by the Ministry of Transport, Communications and Works. The Ministry said that Larnaca and […]
Cenergy Holdings on Wednesday announced its consolidated net profit after tax increases of 139 million euros for the financial results of the year ending December 31, 2024, and a dividend of €0.14 per share, increased by 75% compared to the previous year. Adjusted EBITDA reached €272 million, up 27% year-on-year.
The PwC Cyprus Foundation on Thursday announced the successful completion of its Scale Up 2 Programme, a global PwC initiative designed to accelerate the growth of promising startups. This year, for the first time, the programme placed a strong emphasis on women-led startups. The company said that this aimed to acknowledged “the unique challenges faced by female entrepreneurs and equipping them with the […]
Deputy Minister of Research Nicodemos Damianou has called for increased public funding and private investments in cybersecurity for small and medium enterprises (SMEs), during an informal EU telecommunications ministers’ meeting. The call aligns with the EU’s broader strategy to bolster resilience against growing cybersecurity threats. The meeting also saw the ratification of the ‘Warsaw Call on cybersecurity […]
Cyprus’ Larnaca and Paphos airports achieved a milestone in passenger traffic during February, surpassing half a million passengers, according to the Transport Ministry. Specifically, the two airports welcomed a total of 535,423 passengers, representing an 8 per cent increase compared to the same month in 2024. This rise is particularly remarkable as February traditionally records the lowest passenger traffic of the year. […]
The Bank of Cyprus on Thursday announced that it has received the Quality Recognition Award from global financial services firm JP Morgan Chase. The award, which the Bank of Cyprus has won for the fourth year running, is given in recognition of excellent funds transfer processes under SWIFT. In its statement, the bank noted that […]
A business delegation comprising 38 Japanese companies led by the Japan External Trade Organization (JETRO), yesterday met Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the Council for the Development of Cambodia (CDC) and discussed Cambodia’s investment climate. Wakabayashi Kohei, Director of JETRO Representative Office in Phnom Penh, led the delegation. During the meeting, […]
Cambodia’s aviation sector registered an increase in flight movements early this year as new flight routes were announced by major international airlines connecting Cambodia to international destinations. According to official figures, there were 1,324 flight movements per week in early 2025, a 5 percent increase in flight movements compared to the same period last year. […]
Va Sokchea, a 39-year-old worker at a Chinese-invested Kampu Nuts Agro Product Co. Ltd. here in central Cambodia, has no longer migrated to work at a garment factory in the capital Phnom Penh since the cashew nut processing plant launched in early 2024. The mother of four children said the factory, which processes cashew nuts […]
Since 2009, the Stelios Bi-Communal Awards for Business Co-operation have been supporting bi-communal entrepreneurship in Cyprus, providing financial assistance to dozens of Greek Cypriots and Turkish Cypriots. With the total value of the awards reaching €4.8 million, including this year’s sum of €410,000, the initiative has played a crucial role in the creation and expansion […]
The potential for strengthening cooperation in the field of maritime trade and transport and port management were discussed by Minister of Transport, Communications and Works, Alexis Vafeades and the Ambassador of Egypt to Cyprus, Mohamed Zaazou. According to a press release issued by the Ministry of Transport, during the 4 March meeting, held at the […]
The growth rate of the economy in 2024 is estimated at 3.4%, CySTAT reports. According to the first estimate for the year 2024, the growth rate of the economy in 2024 is positive and is estimated at 3.4% in real terms (volume measures), it notes. At current prices, the percentage change in Gross Domestic Product […]
The preliminary General Government fiscal results indicate a surplus of €1,507.8m for 2024. According to CySTAT, the preliminary General Government fiscal results, which are also prepared by CySTAT, indicate a surplus of €1,507.8m (4.5% of GDP) for the period of January-December 2024, as compared to a surplus of €631.5m (2% of GDP) that was recorded […]