https://knews.kathimerini.com.cy/en/news/cyprus-projects-€1-13-billion-fiscal-surplus-for-2025
Cyprus is on track to achieve a fiscal surplus of €1.13 billion in 2025, amounting to 3.3% of GDP, according to the state budget presented to the House of Representatives on Thursday. ...
https://knews.kathimerini.com.cy/en/business/deloitte-cyprus-issues-its-annual-transparency-report-fostering-resilience-creating-enduring-value
Deloitte Cyprus issued its 13th Transparency Report covering the period from 1 June 2023 to 31 May 2024. ...
https://knews.kathimerini.com.cy/en/news/cera-approves-€125m-for-cyprus-crete-power-link
The Cyprus Energy Regulatory Authority (CERA) has approved an annual investment recovery of €25 million for the Cyprus-Crete electricity interconnection project, also known as the Great Sea Interconnector (GSI), covering the period from January 1, 2025, to December 31, 2029....
https://knews.kathimerini.com.cy/en/business/greece-imposes-20-euro-levy-on-cruise-visitors-to-curb-overtourism
Greece plans to impose a 20-euro levy on cruise ship visitors to the islands of Santorini and Mykonos during the peak summer season, in a bid to avert overtourism, Prime Minister Kyriakos Mitsotakis said on Sunday....
https://knews.kathimerini.com.cy/en/news/cabinet-to-make-final-call-on-power-link-funding-today
The Cyprus Cabinet is meeting today to finalize decisions on the financing of the Cyprus-Greece electricity interconnection project, known as the Great Set Interconnector. ...
https://knews.kathimerini.com.cy/en/news/ft-china-set-to-hit-pwc-with-record-penalty-amid-evergrande-fallout
PwC China has informed its clients that it expects Chinese authorities to impose a six-month business ban starting as early as September, following its audit of the now-collapsed property developer Evergrande....
https://knews.kathimerini.com.cy/en/news/ukraine-intensifies-fight-against-illicit-tobacco-trade
The illicit tobacco trade in Ukraine, one of Europe's most prominent black markets for cigarettes, is sending shockwaves through the economies of neighboring countries,...
https://knews.kathimerini.com.cy/en/news/gesy-reserve-fund-soars-to-€590-million
The General Healthcare System (GESY) reserve fund remains high at approximately €590 million, exceeding international best practices......
https://knews.kathimerini.com.cy/en/business/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. ...
https://knews.kathimerini.com.cy/en/news/cyprus-sets-course-for-cheaper-electricity-in-2025
Energy, Commerce, and Industry Minister George Papanastasiou unveiled Cyprus' ambitious plans for the Electricity Authority of Cyprus (EAC) during a press conference in Nicosia on Tuesday. ...
https://knews.kathimerini.com.cy/en/news/state-to-cover-€12m-shortfall-from-licensing-revenues
Interior Minister Konstantinos Ioannou expressed satisfaction with the progress of the Local Government Reform, despite minor issues during the initial days of its implementation....
https://knews.kathimerini.com.cy/en/news/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....
https://knews.kathimerini.com.cy/en/news/banks-contribute-over-€854m-in-taxes-amid-controversy-over-proposed-levy
In the last seven years (2017-2023), Cypriot banks have collectively paid more than €854 million in income tax, special taxes, and VAT, according to a report by Panayiotis Rouglas in last Sunday's Kathimerini....
https://knews.kathimerini.com.cy/en/news/new-era-in-cyprus-local-governance-begins-with-20-new-municipalities
Cyprus is undergoing a significant local government reform aimed at enhancing service quality, financial and administrative autonomy, and transparency. ...
https://knews.kathimerini.com.cy/en/business/fitch-upgrades-cyprus-to-bbb
Fitch Ratings has upgraded Cyprus' Long-Term Foreign Currency Issuer Default Rating from 'BBB' to 'BBB+' with a positive outlook....
https://knews.kathimerini.com.cy/en/news/cyprus-ship-management-revenue-up-despite-global-challenges
Revenue from Cyprus' ship management industry rose by 2.4% in the second half of 2023, despite facing significant global challenges such as rising freight costs and geopolitical tensions, including disruptions in the Red Sea by Houthi forces....
https://knews.kathimerini.com.cy/en/business/combatting-money-laundering-insights-from-katerina-sikioti-charalambaki
Money laundering poses a significant threat to the EU's economy and society, with organized crime generating revenues of at least €139 billion annually, as emphasized by Katerina Sikioti Charalambaki, a professor and lawyer at the High Court of Justice....
https://knews.kathimerini.com.cy/en/news/cypriot-banks-set-to-exceed-2023-s-record-profits-in-2024
Cypriot banks are maintaining a low profile, but it's expected that 2024 will bring in higher profits compared to the record-breaking figures of 2023. ...
https://knews.kathimerini.com.cy/en/news/cyprus-football-s-new-horizon-with-privately-owned-stadiums
The era we find ourselves in appears to signify the beginning of significant change in the professional league, reminiscent of historical shifts that brought......
https://knews.kathimerini.com.cy/en/business/deloitte-announces-2024-technology-fast-50-rankings
Cyprus based Capital.com claims top spot for the third consecutive year exhibiting 4411% growth in revenues
...
https://knews.kathimerini.com.cy/en/business/hellenic-set-to-acquire-cnp-in-multimillion-euro-deal
Everything appears to be proceeding smoothly, and it seems that CNP Cyprus will soon be under the ownership of Hellenic Bank....
https://knews.kathimerini.com.cy/en/news/summer-optimism-in-cyprus-tourism-despite-regional-uncertainty
Tourism in Cyprus soared last March, boasting a 9.8% increase, welcoming 202,256 travelers. From January to March 2024, arrivals hit 415,251, marking a 5.4% rise....
https://knews.kathimerini.com.cy/en/news/cyprus-public-debt-declines-economic-outlook-brightens
According to a report by Panayiotis Rougalas, Cyprus is seeing a promising reduction in its public debt, with figures suggesting a return to 2019 levels....
https://knews.kathimerini.com.cy/en/news/cyprus-betting-sector-breaks-records-with-€1-billion-revenue
The revenues of the betting activity in the Republic of Cyprus recorded an upward trend for another quarter, confirming the dynamic and stable growth of the sector.
...
https://knews.kathimerini.com.cy/en/news/apple-s-plan-for-smart-home-robots-unveiled
Apple is currently working on a venture into household robots, which might become the company's "next big thing" after the Vision Pro headset and having abandoned its decades-long effort to develop a self-driving electric automobile.
...
https://knews.kathimerini.com.cy/en/news/chevron-s-new-proposal-for-aphrodite
March 31 marked the end of the three-month deadline given by Nicosia to the US company Chevron, a key partner in the joint venture for the development of Block 12 ...
https://knews.kathimerini.com.cy/en/news/tougher-regulations-loom-for-tobacco-heat-sticks-in-europe
European governments are weighing the introduction of tougher rules on cigarette makers’ new zero-tobacco heat sticks, moving to close the loopholes they were designed to exploit just months after their launch.
...
https://knews.kathimerini.com.cy/en/news/cyprus-grapples-with-€80-million-surge-in-state-budget-deficit-for-2023
The state budget deficit for 2023 increased by €80 million compared to the deficit recorded in 2022, according to the Fiscal Report of the Republic of Cyprus for 2023, submitted to the House of Representatives....
https://knews.kathimerini.com.cy/en/news/cyprus-economic-resilience-earns-high-credit-rating-confirmation
International rating agency Morningstar DBRS has confirmed Cyprus’ BBB (high) long-term credit rating with a stable trend, noting that favourable economic prospects balance downside risks.
...
https://knews.kathimerini.com.cy/en/news/winter-2024-brings-17-boost-in-energy-production
Energean recorded new production growth in the first two months of 2024. Specifically, the company said in a statement that from 123 thousand......
