The Economic Sentiment Index (ESI) in Cyprus recorded a modest improvement in December 2024, rising by one point compared to November, according to the Economics Research Centre of the University of Cyprus (CypERC). This increase was driven primarily by a significant boost in consumer confidence and, to a lesser extent, an uptick in the manufacturing […]

The Economic Sentiment Index (ESI) in Cyprus recorded a modest improvement in December 2024, rising by one point compared to November, according to the Economics Research Centre of the University of Cyprus (CypERC). This increase was driven primarily by a significant boost in consumer confidence and, to a lesser extent, an uptick in the manufacturing sector’s business sentiment. Consumer confidence reached its highest level in three […]

Cypriot retailers are gearing up for a wave of winter sales starting this week, following a robust holiday shopping season. While there is no formal or set sales period, it has become customary for discounts to be announced after the Christmas holidays, typically beginning in early January. Some retailers have already launched their promotions earlier […]

Cyprus has made significant strides in its journey towards digital transformation and green innovation in 2024, primarily by leveraging €1.2 billion from the European Recovery and Resilience Plan. This substantial investment is primarily allocated to enhance energy efficiency and expand the use of renewable energy, thereby facilitating the digital transition of businesses. In light of […]

A trial operation period for Cyprus’s competitive electricity market begins today, the country’s Transmission System Operator (TSO) announced. The operator will host two training seminars on the Market Management System (MMS), with Energy, Commerce and Industry Minister George Papanastasiou attending the first session. The seminars, scheduled for 7 and 9 January at TSO’s new building, will be […]

Property expert points to time-consuming licensing process for new investments Although people may complain about the rising prices, Cyprus’ real estate market is still an ideal sector to invest for long-term security and prosperity, said Yiannis Misirlis, chairman of the Imperio Group, a Limassol-based property development and management firm. “Apart from offering substantial financial growth potential […]

‘No foreign investor has poured in millions; no distant CEO is steering its direction. Instead, this beloved hotel has passed from generation to generation…’ This is the highest hotel in Cyprus, 1,757 metres above sea level. It’s almost the oldest, and has been around for close on 100 years. And it’s definitely among the best-loved […]

Cyprus celebrates Epiphany today. Amidst clear skies, as forecasted by the Meteorological Department, worshippers are flocking to churches in preparation for the blessing of the waters. However, for those daring enough to dive for the cross, the Department predicts the sea will be slightly choppy, with conditions locally rough in the eastern areas. Celebrations for […]

Asia’s tourism industry is entering a transformative phase in 2025, with nations like China, Singapore, Indonesia, Thailand, Laos, Vietnam, Cambodia, and Sri Lanka leading the charge. With strategic initiatives that highlight cultural heritage, eco-tourism, and sustainable practices, these countries are shaping the future of global travel and tourism. China: The Gateway to Asia China remains […]

By Marios Clerides Cyprus has gone through a series of crises in recent years, after the government started to lose access to international money markets around 2012. This was followed by the banking crisis in 2013, with the closure of one systemic bank and a haircut on deposits in another, and later in 2018, the […]