Search

31. Cyprus tourism faces €25 million Hit

The president of the Cyprus Hotel Association (PASYXE), Thanos Michaelides, has highlighted the urgent need to extend the tourist season and increase the number of year-round hotel operations. ...

32. 'Land of Tomorrow' set to transform Larnaca's coastline

The coastal community development project, ''Land of Tomorrow,'' is set to transform the industrial image of Dhekelia in Larnaca into a modern and sustainable urban environment. ...

33. Cyprus exports decline sharply while imports see a modest rise

Cyprus saw its trade deficit grow in May 2024, largely due to a significant drop in exports and a slight increase in imports, according to recent data from the Cyprus Statistical Service. The trade deficit for May 2024 was €693.4 million, up from €578.2 million in May 2023....

34. Cyprus ranks among top innovators in Europe

Among the best-performing countries in terms of innovation between 2023 and 2024 is Cyprus, according to the latest European Commission data....

35. Industries expanded in 2022 as Cyprus saw more jobs, higher production

Cyprus saw more people employed in factories and related industries in 2022 compared to the year before, with a 3% increase in jobs. The value of goods produced also went up significantly by 21.2%....

36. Cyprus leads EU in home sales by 31%

Home sales in Cyprus surged by 31% in 2023 compared to the previous year, the highest increase among European Union countries, according to data released by Eurostat, the EU's statistical service....

37. Cyprus remains a strong innovator in European rankings

Cyprus maintains its position as a Strong Innovator in the European Innovation Scoreboard for the 3rd consecutive year, the Deputy Ministry of Research, Innovation and Digital Policy said on Monday....

38. Cyprus charts course for 2025 budget surplus

President Nikos Christodoulides announced during a Cabinet meeting on Monday that the government is on track to achieve a budget surplus for the fiscal year 2025....

39. Cyprus banks receive upgrades, signal economic resilience

In a series of significant upgrades for Cypriot banks, Fitch Ratings has elevated the Bank of Cyprus and Hellenic Bank's credit ratings, underscoring a positive trajectory for the country's financial sector, according to a report by Panayiotis Rougalas in this Sunday's Kathimerini....

40. Goody's returns to Nicosia

The beloved Greek fast food chain Goody's has made a triumphant return to Nicosia, opening its doors at The Mall of Cyprus on June 19, according to a report in this Sunday's Kathimerini by Anna Polyviou....

41. Cyprus' 300 fintech firms boost economy, says Georgoulas

The Economist's 28th Annual Government Roundtable concluded with great success in Greece, running from July 2-4....

42. Cyprus President meets business leaders on HR, energy, and tax

43. Ice cream prices melt wallets by 8.07% more

As temperatures rise, so do the prices of summer essentials in Cyprus, with ice creams, package holidays, and hotel stays seeing noticeable hikes compared to last month, according to data released by the Cyprus Consumers Association....

44. Luxury retailers Saks and Neiman Marcus merge in big deal

A new luxury retail giant is emerging in the United States as the parent company of Saks Fifth Avenue acquires Neiman Marcus for $2.65 billion....

45. Cyprus requests €89.2M in EU grants for recovery plan

The European Commission received a payment request on Thursday from Cyprus for €89.2 million in grants, netting €76.9 million after pre-financing....

46. Greece bucks trend with six-day work week

Greece has introduced a six-day working week for certain businesses in an effort to increase productivity and employment, according to a report by CNBC. ...

47. Green Line: Trade and crossings surge, irregular migration declines

Trade and personal crossings across the Green Line in Cyprus saw significant increases in 2023, while irregular migration dropped by more than 50%, according to the annual European Commission report on the implementation of the Green Line Regulation published Thursday....

48. Cyprus risks losing €657M EU grant for Interconnector project, says Energy Minister

Energy Minister George Papanastasiou expressed concerns over the potential withdrawal of a €657 million subsidy by the European Commission for the electricity interconnection project between Cyprus and Greece......

49. Temu, Shein & Ali Express: EU cracks down on Chinese imports

The European Union is taking steps to clamp down on the surge of low-quality Chinese imports flooding its markets. According to sources speaking to the Financial Times, the EU plans to impose tariffs on cheap products from platforms like Temu, Shein, and AliExpress....

50. Cyprus trade sector sees 20.7% surge in 2022 turnover

Turnover in the broad trade sector increased in 2022 by 20.7%, according to the results of the Wholesale and Retail Trade Survey, published by the Statistical Service on Wednesday....

51. CBC to keep dividends low despite bank profits

The increased profitability of Cypriot banks, will not affect the supervisory authorities’ views over the necessity to maintain a prudent policy with respect to banks’ dividend payments, the Central Bank of Cyprus said in its annual report for 2023, published on Wednesday....

52. Ygea Farm receives accolade for organic egg production

George Konstantinides established Ygea Farm two decades ago in the fertile meadows just outside Mathiatis. ...

53. ECB concerned over Cypriot bank profit tax proposal

In 2023, Cypriot banks reported unprecedented profits, marking a 15-year high, with projections suggesting even greater earnings in 2024....

54. Fitch elevates Hellenic Bank’s credit rating

Fitch Ratings has upgraded Hellenic Bank's Long-Term Issuer Default Rating (IDR) to 'BBB-' from 'BB+', with stable outlook and its Viability Rating (VR) to 'bbb-' from 'bb+'. ...

55. Cyprus and U.S. celebrate strengthened ties at U.S. Independence Day event

The 248th anniversary of U.S. Independence was marked with a grand celebration hosted by the U.S. Embassy in Nicosia on Tuesday evening....

56. Great Sea Interconnector study outlines benefits July 11

The Greek Regulatory Authority for Energy (RAAEU) has made a significant decision regarding the methodology for calculating the regulated revenue......

57. Presidential Palace achieves 'zero waste' milestone

The Presidential Palace has become the first government building in Cyprus to receive the "Zero Waste to Landfill" certification, setting a strong environmental example for the nation....

58. Cyprus higher education sees doubling of student enrollment over past decade

Health Minister Michalis Damianos praised the dramatic growth of Cyprus' student population during a graduation ceremony at the University of Frederick in Nicosia on Friday....

59. Employee earnings in Cyprus rise by 5.7% in early 2024

The average gross monthly earnings of employees in the first quarter of 2024 increased by 5.7%, reaching €2,378, compared to €2,251 in the same period of 2023, according to preliminary data from the Statistical Office....

60. Zero VAT on essential goods until September 2024

Cyprus' Tax Department has announced a zero rate of Value Added Tax (VAT) on essential goods until September 30, 2024, following a decree issued by the Cabinet. This measure aims to alleviate financial burdens on consumers amid economic challenges....