Cyprus recorded a positive economic growth rate of 3.4 per cent in real terms for 2024, with its gross domestic product (GDP) reaching €33.57 billion at current prices.

In addition, according a report released by the statistical service on Wednesday, real GDP, measured in volume terms, stood at €28.75 billion.

These updated figures incorporate revised data from the balance of payments and public finance statistics, as well as the change in the base year for volume calculations, which has shifted from 2010 to 2019.

Cyprus Airways on Wednesday announced the addition of a fourth Airbus A220-300 aircraft to its fleet.

In its announcement, the company said the aircraft reflects its commitment to sustainable air travel, describing it as “a modern marvel that combines comfort, innovation, and environmental care”.

The aircraft, officially unveiled today at Larnaca airport, will help the airline in its efforts to modernise its fleet while embracing eco-conscious practices.

As Cypriots gear up for a record-breaking year of travel, the 26th Travel Expo Cyprus kicks off in Nicosia on Friday, April 25, bringing together airlines, tour operators and tourism bodies from across seven countries.

Running until Sunday, the exhibition comes at a time when demand for travel continues to climb, with early forecasts pointing to nearly two million outbound trips in 2025.

Speaking at a press conference ahead of the event, Harris Papacharalambous, president of the Association of Cyprus Travel and Tourist Agents (Actta), said the expo “offers travellers a rare chance to compare packages, talk to professionals, and take advantage of exclusive offers, all in one place”.

The European Commission is “closely monitoring the progress in fulfilling the requirements” of Cyprus’ path towards Schengen membership, European Commissioner for internal affairs Magnus Brunner announced on Wednesday.

Taking into account the situation in Cyprus and the existence of the buffer zone in particular, Brunner, in a response to a question by Cyprus’ former health minister and present MEP Michalis Hadjipantelas, said a first evaluation of the status quo was already underway.

Hadjipantelas had asked the commission about the progress in Cyprus’ Schengen application process and potential forms of support that could be provided to address existing challenges, pointing to the control and supervision of the buffer zone.

The Cyprus Stock Exchange (CSE) on Wednesday announced a number of changes to its major indices, following the suspension of trading in the shares of Salamis Tours (Holdings) Public Ltd.

According to a brace of announces published on the exchange’s website, these adjustments will come into effect on Thursday, April 24, 2025.

In its statement, the CSE stated that Salamis Tours will be removed from the FTSE/CySE20 Index and will be replaced by Woolworth (Cyprus) Properties Plc.

Limassol is entering the most demanding phase of its European Capital of Culture 2030 campaign, with a clear focus on delivering an ambitious yet realistic programme, according to Andreas Pittas, chairman of the board of the Limassol 2030 organisation.

He said the organisation is investing in extroversion, pluralism and inclusiveness, with an emphasis on linking culture to citizens’ daily lives.  

The aim, he added, is to create initiatives that will engage every resident, foster a strong sense of belonging, and unite communities across different generations, backgrounds and cultures.

Chairman of the Cyprus Property Developers Association Υiannis Misirlis on Wednesday praised the contribution of the real estate sector to the economy, and defended it from sweeping allegations of bad practices.

In an interview with InBusinessNews, Υiannis Misirlis, he mentioned that the real estate and construction sector continues to be a cornerstone of the Cypriot economy, contributing nearly 15 per cent of GDP and employing over 40,000 people across the island.

Moreover, he described the criticism levelled at the industry over isolated incidents as “unfair and indiscriminate”.

Cyprus-based Aloha Browser on Wednesday announced the launch of Snips, a groundbreaking AI-powered feature.

The new feature is designed to simplify web browsing by eliminating the chaos of excessive open tabs and constant page refreshes.

With Snips, users can create smart, live screenshots that monitor specific sections of web pages in the background, alerting them only when relevant updates occur.

Alter Ego Media, through its venture capital arm Alter Ego Ventures, has acquired a 1 per cent stake in CH Game Development Software Limited, investing €110,000 in the Cyprus-based eGaming company.

The details of the transaction were disclosed in an official announcement released on Wednesday.

CH Game Development has developed Couch Heroes, a gamified platform which, according to the same announcement, “offers distinctive benefits for both developers and users, aiming to unlock untapped value in the video games sector”.