Cyprus economy grows by 3.9 per cent in third quarter
The Cypriot economy’s growth rate for the third quarter of 2024 is positive, estimated at 3.9 per cent compared to the same quarter in 2023, according to a report by the Cyprus ...
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Paphos mayor urges Cypriot firms to become more export-minded
Paphos mayor Phedonas Phedonos has urged Cypriot businesses to adopt a more international, export-oriented approach, saying that the island can become a starting point from which they can sell products ...
Cyprus Business Now: tourism performance, government surplus, SME funding
Tourism revenue in Cyprus reached €454.1 million in September 2024, according to the statistical service’s passenger survey.
This marks a 6 per cent increase compared to September 2023, when tourism revenue stood at €428.4 ...
Cyprus 9-month tourism revenue hits €2.58 billion
Tourism revenue in Cyprus reached €454.1 million in September 2024, according to the statistical service’s passenger survey.
This marks a 6 per cent increase compared to September 2023, when tourism revenue stood at €428.4 ...
Cyprus posts €1.43 billion surplus, up 115 per cent from last year
Cyprus recorded a general government surplus of €1.43 billion, equivalent to 4.2 per cent of GDP, between January and October 2024, according to a report from the statistical service.
This was more than ...
Finance Ministry launches support scheme for print media
The Finance Ministry on Friday launched the a new support scheme for print media, inviting eligible applicants to submit their applications either in person or by registered post by December 13, 2024.
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Cyprus strengthens business ties with Slovakia, Czech Republic
The Cyprus Chamber of Commerce and Industry (Keve) this week announced that a business delegation, forums, and B2B meetings were held in Bratislava and Prague on November 26 and 28,respectively.
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Cyprus Business Now: CNP acquisition, BoC bonds, Petrolina deal
Petrolina (Holdings) Public Limited (PHL) has announced the completion of a €48.6 million deal to acquire ExxonMobil Cyprus.
According to the announcement, this includes the company’s 68 Esso-branded service stations, marking ...
Moody’s upgrades Bank of Cyprus bonds to Aaa
Ratings agency Moody’s this week upgraded the rating of the Bank of Cyprus’ covered bonds to Aaa from Aa2.
This follows a revision of Cyprus’ local-currency bond ceiling to ...
Skills development vital for Cyprus’ economic future, president says
President Nikos Christodoulides on Thursday said there was an urgent need to link education with the labour market, in order to equip Cyprus’ youth for the demands of the modern ...
Cyprus Computer Society mourns loss of president Costas Agrotis
The Cyprus Computer Society (CCS) on Thursday announced the passing of its president Costas Agrotis.
The announcement described Agrotis as a pioneer, visionary, and cornerstone of the Cypriot IT community.
“...
Competition watchdog approves Hellenic Bank’s acquisition of CNP Cyprus
Hellenic Bank on Thursday announced that the Commission for the Protection of Competition has approved its acquisition of CNP Cyprus Insurance Holdings.
This represents a major step forward in the ...
Cyprus petroleum sales up 3.5 per cent in October
Petroleum product sales in Cyprus saw a 3.5 per cent increase in October 2024 compared to the same month in 2023, reaching 135,250 tonnes, according to a report released by the Cyprus Statistical Service.
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Cyprus Business Now: sustainable tourism, growth rate, EU economy report
European authorities this week confirmed Cyprus’ financial and economic stability in their 17th post-programme surveillance mission.
The latest report, released on Tuesday from the European Commission, European Central Bank (ECB), ...
Koumis makes case for sustainable tourism, praises Paphos’ year-round appeal
Cyprus and Greece must focus on sustainability to enhance their tourism offerings, according to Deputy Tourism Minister Costas Koumis.
Speaking at the 2nd Cyprus-Greece Business Forum on Wednesday, Koumis underlined ...
Cyprus’ economy stable but risks loom, says EU report
European authorities this week confirmed Cyprus’ financial and economic stability in their 17th post-programme surveillance mission.
The latest report, released on Tuesday from the European Commission, European Central Bank (ECB), ...
VTTI marks 10 years in Cyprus, green energy projects on agenda
Energy infrastructure company VTTI celebrated ten years of operations in Cyprus, marking a decade as a key player in the Eastern Mediterranean energy market.
The milestone was highlighted in an ...
How Black Friday affects the stock market
Black Friday is no longer just a retail phenomenon, having grown into a significant economic indicator influencing stock market performance, according to international online broker Freedom24.
The annual shopping event, ...
Tour guides perform key role, says tourism ministry
The board of the World Federation of Tourist Guide Associations (WFTGA), led by its president, Sebastian Frankenberger, is currently in Cyprus to advance international training programmes and discuss industry developments.
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CFA Society Cyprus highlights initiatives under new leadership
CFA Society Cyprus this week highlighted a series of initiatives led by its president Nikos Potamaris, following the election of its new board of directors in July of this year.
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Cyprus Business Now: Fitch report, cooperative bank plan, hotel association
Fitch Ratings projects limited fiscal improvement across European countries, citing uneven adjustments in debt reduction and growth trajectories.
However, the agency mentioned that Cyprus continues to stand out with a ...
Fitch highlights Cyprus’ positive fiscal outlook (updated)
Fitch Ratings projects limited fiscal improvement across European countries, citing uneven adjustments in debt reduction and growth trajectories.
However, the agency mentioned that Cyprus continues to stand out with a ...
Cabin bag fee ban ‘unlawful and anti-consumer’, says IATA
The International Air Transport Association (IATA) has condemned a recent decision by the Spanish government to eliminate cabin baggage fees for passengers.
The Spanish government also imposed fines totalling €179 million ...
‘Conditions are now ripe for a new cooperative bank’
The Pancyprian Cooperative Promotion Society unveiled its roadmap for establishing a new nationwide cooperative bank during a Monday evening event in Limassol, under the theme of ‘One for all and ...