Cyprus business & economy daily wrap-up
Saudi Arabian Transport Minister, Saleh Bin Nasser Al-Jasser, on Monday visited DP World Limassol’s general cargo and cruise terminal, where he discussed avenues for further cooperation in areas of ...
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Saudi Transport Minister visits Cyprus, discusses future collaboration
Saudi Arabian Transport Minister, Saleh Bin Nasser Al-Jasser, on Monday visited DP World Limassol’s general cargo and cruise terminal, where he discussed avenues for further cooperation in areas of ...
Bank of Cyprus completes 41 per cent of share buyback programme
The Bank of Cyprus completed approximately 41 per cent of its maximum share buyback programme value by the end of August, according to an announcement by the bank.
The announcement noted ...
Global smart personal audio market rebounds with record growth in Q2
The global smart personal audio market, which includes True Wireless Stereo (TWS) devices, wireless earphones, and wireless headphones, experienced a robust recovery in the second quarter of 2024.
According to a ...
African smartphone market experiences modest growth
The African smartphone market experienced modest growth in the second quarter of 2024, with shipments rising by 6 per cent year-on-year to reach 17.8 million units, according to the latest research from Canalys.
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Cyprus Business Now
Hellenic Bank on Friday posted a profit after tax of €189 million for the first half of 2024, marking an 18 per cent increase compared to the same period during the previous year.
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Cyprus government records €702.5 million surplus, doubles year-on-year
The Cyprus general government recorded a surplus of €702.50 million, equivalent to 2.2 per cent of GDP, during the first seven months of 2024.
According to a report released on Friday by the ...
Keve to showcase vocational training initiative at networking event
The Cyprus Chamber of Commerce and Industry (Keve) on Friday announced an upcoming networking event to introduce the EULEP project, an initiative centred around vocational education and training.
The event, ...
Hellenic Bank posts €189 million after-tax profit in first half of 2024
Hellenic Bank on Friday posted a profit after tax of €189 million for the first half of 2024, marking an 18 per cent increase compared to the same period during the previous year.
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Cyprus Business Now: tourism, short-term rentals, unemployment, energy
Delfi Partners director Michalis Loizou on Thursday argued against the notion that short-term rental properties in Cyprus are the primary cause of rising rental costs, suggesting that other factors contribute ...
Tourism revenue in Cyprus rises by 6.6 per cent in June
Cyprus’ tourism revenue reached €385.2 million in June 2024, marking a 6.6 per cent rise compared to €361.5 million in the same month of the previous year.
According to the Cyprus Statistical Service (Cystat), ...
Regulating short-term rentals could negatively impact economy, says director
Delfi Partners director Michalis Loizou on Thursday argued against the notion that short-term rental properties in Cyprus are the primary cause of rising rental costs, suggesting that other factors contribute ...
Cyprus Business Now
The Finance Ministry is aiming to reduce public debt to below 60 per cent of GDP by 2026, according to Finance Minister Makis Keravnos.
Commenting on the latest International Monetary Fund (IMF) ...
Cyprus targets debt reduction to below 60 per cent of GDP by 2026
The Finance Ministry is aiming to reduce public debt to below 60 per cent of GDP by 2026, according to Finance Minister Makis Keravnos.
Commenting on the latest International Monetary Fund (IMF) ...
Economic sentiment in Cyprus improves in August
Cyprus witnessed an improvement in its economic sentiment in August 2024, according to the University of Cyprus’ Economics Research Centre (CypERC).
In a report released this week, the centre noted that ...
Cyprus Business Now
Current Eurobank Cyprus CEO Michalis Louis is expected to become the new chief executive officer of Hellenic Bank, it emerged on Tuesday.
This appointment comes as part of a broader ...
Cyprus hoteliers satisfied with August occupancy rates
August has seen high occupancy rates at Cypriot hotels, reaching or even exceeding 90 per cent in some cases, according to Hoteliers’ Association (Pasyxe) general director Philokypros Rousounides.
Rousounides noted that ...
Cyprus real estate agent exams to be held in October
The Cyprus Real Estate Agents Registration Council this week announced that it will conduct examinations for aspiring new real estate agents on Saturday, 26 October 2024.
According to the announcement, these exams ...
Cyprus Business Now
The University of Cyprus’ Economics Research Centre (CypERC) is entering the second phase of its tax reform project, it emerged on Monday, after it had been tasked to come up ...
EU posts €40.4 billion trade surplus in second quarter
The European Union (EU) recorded a trade surplus of €40.4 billion in the second quarter of 2024, reflecting a decline from the €55.3 billion recorded in the first quarter of the year.
According ...
Limassol to host regional finals for Startup World Cup
The Cyprus regional finals of the Startup World Cup 2024 are set to take place on Thursday, August 29, at the BrainRocket premises in Limassol.
The event will spotlight the region’s ...
Cypriot bonds in Eurosystem drop to €6.38 billion
The value of Cypriot bonds held by the Eurosystem has decreased to €6.38 billion as the European Central Bank (ECB) continues its balance sheet reduction under its tightening monetary policy.
These ...
Middle East smartphone sales surge by 20 per cent in second quarter
Smartphone shipments in the Middle East, excluding Turkey, reached 11.5 million units in the second quarter of 2024, marking a robust 20 per cent year-on-year increase, according to industry analysts Canalys.
The company ...
Cyprus Business Now
Cyprus has seen its debt-to-GDP ratio drop to 72.3 per cent, marking a substantial decrease of nearly 10 percentage points over the past year.
According to a report released on Friday from ...