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1. Cyprus gears up for Easter holiday travel

With the Easter holidays on the horizon and favorable weather beckoning, Cypriots are organizing their getaways, both domestic and international. As the country's hotels prepare to open at full capacity next week, ...

2. Cyprus Investment Association unveils €8 billion in projects

Members of the Cyprus Association of Large Investment Projects unveiled ambitious plans Thursday, highlighting 18 to 20 projects valued at over €8 billion. ...

3. European Commission flags trade risks for Cyprus economy

The Cypriot economy is on a sound footing due to solid economic growth and declining inflation, but its high integration with EU and non-EU economies make geopolitical and trade tensions......

4. Cyprus embraces global investment with its bond market debut

In April 2024, the Republic of Cyprus is gearing up to enter the international bond markets, intending to issue a Euro Medium Term Note (EMTN) bond worth 1 billion euros....

5. Central Bank predicts 2.2% GDP growth in 2023

The Central Bank of Cyprus (CBC) expects GDP growth of 2.2% in 2023, compared to significant growth of 5.1% in 2022, while for the years 2024-26 it expects GDP growth of 2.6%, 3.1% and 3.2%, respectively....

6. Assessing the dual impact of government's support measures

Recent days have witnessed crucial discussions surrounding measures to support households and businesses, a pressing necessity given the prevailing circumstances....

7. Cyprus welcomes most tourists among EU countries with 91% of visitors from abroad

In 2022, the EU received 45.8% of all international tourism arrivals in the world, despite representing 3.0% of the world's land area and 5.6% of the world's population, according to the UN World Tourism Organisation (UNWTO) shared by Eurostat on the occasion of World Tourism Day (27 September)....

8. City of Dreams Mediterranean partners with Cablenet

9. Tourism's dynamic future: Adapting to change from within

It's something we've heard many times from tourism authorities, that 2019 should no longer be used as a point of reference for tourism....

10. Luxurious residences and cutting-edge offices transform Nicosia's skyline

After being closed for two years, the Landmark Hotel, formerly known as the Hilton, is undergoing rapid renovation. The MHV Group, the owner, has provided an update indicating that the project is progressing swiftly according to the plan, ...

11. Cyprus hotels expect August rebound, 85%-90% occupancy forecasted

The occupancy of hotels in July was between 80%-85% and better results are expected for August, when occupancy rates could reach 85%-90% the Head of the Cyprus Hotels Association (PASYXE) Thanos Michaelides told the Cyprus News Agency....

12. Pentecost weekend to boost tourism in Protaras

Last-minute reservations are typical for the Pentecost long weekend, as described by tourism professionals....

13. Prem Watsa: 'Greek banks are safer'

Greece has entered a virtuous cycle of growth, and the next few years will be especially beneficial to the economy and Greeks if political stability is maintained and business-friendly policies are implemented....

14. Investigation into understaffing in the tourism industry is imminent

The start of the summer travel season is anticipated to occur around the end of March or the beginning of April, along with the reopening of hotel facilities that were closed during the winter....

15. EY presents report on the Future of Banking in Cyprus

The report showcases the importance and contribution of Cypriot banks to the wider economy and society, and identifies current and upcoming challenges and opportunities...

16. Finance Ministry: 'Cyprus economy will not enter a recession'

There will be a significant slowdown in economic activity next year, we will be affected by increased energy prices and borrowing costs, but "inflation in Cyprus is being reined in at lower levels" compared to other European member states, ...

17. France first country to ban short haul flights

France has been given the green light to ban short-haul domestic flights. Specifically, between locations where there is a train alternative that takes less than 2.5 hours....

18. Slower economic growth expected towards end of year

The Cypriot economy is expected to slow down towards the end of 2022 after growing steadily during the first half of the year, according to the chapter on Cyprus from the European Commission’s Autumn 2022 Economic Forecast which was presented on Friday by Commissioner for the Economy Paolo Gentiloni....

19. Larnaca's new branded hotel (photos)

Solaar Hospitality's new hotel (formerly Michael's Beach Hotel) on the Larnaca-Dhekelia road is set to open in less than six months. The new hotel on the city's map will bear the name of an international hospitality chain and will open in April 2023 as the Mercure Beach Hotel Larnaca....

20. Wim Van Aken talks recession and the predictions for Cyprus

We are facing a double shock. First, we had the Covid-19 shock and now the global and European economies are facing a new shock with the war in Ukraine. Both events are unprecedented for many of us....

21. Ryanair blames 'lack of incentives' for closing its Athens hub

The intense competition in the domestic market, which started to shrink Ryanair’s share, is the reason why it decided to close its base in Athens this winter....

22. Aegean and Emirates announce codeshare partnership

Emirates and AEGEAN announce the launch of a codeshare partnership, enabling their passengers to benefit from increased connectivity and travel to eight domestic Greek destinations via Athens, with a single ticket....

23. Retail trade in the grip of inflation

The market is under intense pressure due to the inflationary trends of recent months with consumers appearing hesitant on their trips to retail stores. More shoppers are looking for special offers and refraining from impulsive buys....

24. Spanish airline Air Nostrum has just ordered a fleet of airships

As the quest for less environmentally damaging aviation continues, one Spanish airline has thrown its hat into the ring by ordering new hybrid airships -- which pack as much of a punch visually as they are said to do environmentally....

25. The dilemmas of war and pandemic

Cyprus is a small country with a large export sector of services, which makes it vulnerable to its external environment. An external shock is felt faster and more intensely. ...

26. Half a million tourists from the US expected to visit Greece this year

Never before has Greece had half a million tourists from the United States in one year, or more than 60 direct weekly flights between the US and Athens, Tourism Minister Vassilis Kikilias told Skai Radio, adding that the government expects significant revenues from the sector in 2022....

27. Covid curbs lifted in Greece ahead of summer season

Greece lifted Covid-19 restrictions on Sunday for foreign and domestic flights, its civil aviation authority said, ahead of the summer tourism season that officials hope will see revenues bouncing back from the pandemic slump....

28. Lagarde: Cyprus will be affected by inflation and rising energy costs

Cyprus will be affected by inflationary pressures and higher energy costs due to its dependence on oil imports for electricity generation, according to European Central Bank President Christine Lagarde....

29. Perdios: 'We will cover the loss of revenue from Russian tourists'

Despite losing ground in the Russian and Ukrainian markets due to the war in Ukraine and sanctions against Russia, Deputy Tourism Minister Savvas Perdios was optimistic on Tuesday that this year's tourist arrivals could catch up with 2021 from the promotion of other markets, which may fill part of the gap from Cyprus' second largest tourist market....

30. Loss of 1.5% to 2% of Cypriot GDP due to a ban on Russian flights

Cyprus could lose 1.5% to 2% of its growth rate this year if the Cypriot airspace (under EU sanctions) to Russia remains closed for the whole of 2022, estimates the rating agency DBRS Morningstar, noting that despite the negative impact, the war in Ukraine will not derail the medium-term prospects of the Cypriot economy....