Cypriot businessmen Costas Cleanthous and Charalambos Panayiotou, shareholders of fintech trading platform XM, have applied to the Central Bank of Cyprus (CBC) to acquire a majority stake in Ancoria Bank, according to Kathimerini. Although both men are deeply involved in XM, the online trading company is not connected to the bank acquisition in any capacity. The […]
Aspiring entrepreneurs in Cyprus now have the chance to launch their startup dreams with support from the Research and Innovation Foundation (RIF), which on Wednesday launched its Future Founders Academy, a new programme offering funding, training, and mentorship. The initiative aims to help individuals with innovative product ideas take their first steps in entrepreneurship by providing […]
Cyprus is one step closer to joining the US Visa Waiver Program (VWP) after resolving critical technical issues related to system interconnection with US authorities, according to officials familiar with the matter. The technical obstacles, which involved secure digital exchanges of passenger and security data, compliance with US security standards, and access to terrorism and […]
Dr. Pich Chanmony Hun Manet visited the newly established Pich Chanmony Hun Manet Kindergarten in Kampong Speu province yesterday, extending her warm regards to both teachers and pupils. The kindergarten, located within the Command and General Staff Institute and the Active Military Officers School in Po village, Damnak Reang commune, Samaky Monichey district, officially opened […]
Synopsis: MinebeaMitsumi Inc. plans to start a new large-scale factory in Pursat province in December this year. Senate President Hun Sen yesterday welcomed a prominent Japanese company’s plan to inaugurate a new large-scale factory in Pursat province later this year, expressing his joy and pride in the company’s continued progress in Cambodia. Mr Hun Sen […]
A delegation from two Qatar-based companies, Al Mansour Holding (AMH) and LCH Investment Group Co., Ltd., is currently exploring investment opportunities in Cambodia’s agricultural and tourism sectors. The delegation, led by Fahd Al Dosari, Special Advisor and Head of Public Relations at AMH, paid a courtesy call on Hun Sen, President of the Senate, on […]
The position that Paphos is an internationally recognised tourist destination, which combines natural beauty, a rich cultural heritage, authenticity and high-quality services, has been expressed by the new President of the Paphos Tourism Development and Promotion Company (ETAP), Michalis Mitas. In an interview with InBusinessNews , Mitas highlights the biggest challenges facing Paphos in the […]
The movement of traveller to and from Cyprus in 2024 recorded an increase compared to 2023, Cystat said, adding that total arrivals of travellers reached 6,285,427 recording an increase of 2.9% and departures totalled 6,270,760, also recording an increase of 2.7%, compared to 2023. Air traffic accounted for 97.7% of both arrivals and departures in […]
The Ministry of Agriculture announced a shift from per-animal subsidies to productivity-based payments for goat and sheep farmers, doubling support for high-performing operations to increase milk production for protected designation of origin (PDO) halloumi cheese. The Ministry unveiled the strategy during Monday’s agricultural advisory committee meeting, chaired by Minister Maria Panagiotou with participation from all farming […]
The Kourion and Limassol municipalities will manage parts of their beaches this summer, adopting Ayia Napa’s model to improve services while ensuring low costs for locals and visitors, it emerged on Tuesday. In an article published by the Limassol Chamber of Commerce (Evel), Kourion mayor Pantelis Georgiou said that the municipality has taken responsibility for services and facilities […]
The Deputy Ministry of Research, Innovation and Digital Policy on Tuesday announced that it has entered into a strategic agreement with Lenovo and Newcytech Business Solutions Ltd. According to the announcement, the agreement, which was signed with the ministry’s department of information technology services, aims to improve the digital infrastructure of Cyprus’ public sector. The agreement concerns the supply […]
Cyprus ranked above Greece on nominal income, below on value Cyprus has been ranked in the middle of the global wealth rankings for 2025 by The Economist, which placed Switzerland at the top and Burundi at the bottom in its assessment of 178 countries. The list measures income at market exchange rates, purchasing power adjusted for local prices, and […]
The Central Bank of Cyprus (CBC) on Tuesday reported total assets of €28.35 billion as of June 30, 2025, according to a report by governor Christodoulos Patsalides. The largest component of the central bank’s assets was intra-Eurosystem claims, which stood at €18.09 billion. Securities of euro area residents denominated in euro accounted for €7.22 billion. Gold and gold receivables totalled […]
Cyprus generated €3.2 billion from tourism in 2024 as traveller numbers rose, with Paphos ranked as the island’s top destination, according to a report released on Tuesday by the statistical service. Specifically, total arrivals reached 6,285,427 during this time, reflecting a rise of 2.9 per cent over the previous year. Departures, meanwhile, totalled 6,270,760, which also marked an increase of 2.70 per cent […]
Minister of Energy, Commerce and Industry, George Papanastasiou participated in the informal meeting of the EU Ministerial Competitiveness Council that was held in Copenhagen on 18 July. Ministers exchanged views on ways to strengthen the competitiveness of the European Union which is called upon to respond to increasing pressures from international competitors, as well as the […]
Cyprus’ tourism continues its upward trajectory, breaking record after record, despite significant challenges, primarily due to geopolitical developments in the region. Although the situation in Israel remains fragile—as does the ceasefire—the neighbouring country continues to be a stable and significant pillar and partner for the tourism industry, remaining the second largest source market. At the […]