Global airline summit to tackle travel boom, climate goals
Airlines will ride the crest of a faster-than-expected recovery and discuss ways of translating climate pledges into action at a summit buoyed by a return to business as usual next ...
Government generates €291.9 million in first quarter surplus
Cyprus’ general government generated a surplus of €291.9 million in the first quarter of 2023, equivalent to 1 per cent of GDP, according to a report released this week by the Cyprus Statistical ...
Limassol aspires to become regional port of choice, says new CEO
Port management company DP World Limassol on Thursday released a statement announcing that Simon Pitout has been appointed as the company’s new chief executive officer, effective from June 1, 2023.
The ...
Russian clothing brands plug gap left by Western rivals
Russian designers and brands are helping the retail sector gradually recover from a turbulent 15 months of store closures and slumping demand, with new labels plugging the gap left by foreign ...
Apartments outshine houses in booming Larnaca property market
A total of 1,929 apartments and 864 houses were sold during the previous year
Cypriot firm Ask Wire on Wednesday released a report detailing real estate sales, including houses and apartments, in ...
Cyprus Airways to launch new Greece route
National flag carrier Cyprus Airways this week announced the launch of a new route between Larnaca and Preveza, which is set to begin on June 29 with two weekly flights.
The ...
ECB warns of hit to top European banks if funds run into trouble
The euro zone’s top banks may take a hit if their financial clients, such as funds, insurers and clearing houses, withdrew their deposits or otherwise ran into trouble, the ...
Borrowers association says foreclosures are not necessary
Syprodat said that borrowers are willing to renegotiate their loans but are finding it difficult
The Association for the Protection of Borrowers (Syprodat) this week said that the key to ...
Investors’ hopes for Turkey’s economic future ride on new cabinet picks
The top policymaker picks of Turkey’s re-elected president Tayyip Erdogan are taking centre stage as markets try to gauge whether he will change course towards economic orthodoxy or double ...
Looking backwards not forwards: why has the ECB been too slow to react?
By Maria Demertzis
In its spring 2023 inflation forecasts, issued on May 15, the European Commission predicted that euro-area inflation this year will be 5.8 per cent, a little higher than anticipated in ...
Cyprus Business Now: weekly wrap-up
Here are the top business stories in Cyprus from the week starting May 22:
Talks between the government and US energy giant Chevron appeared to move in a positive direction on ...
Environmental protection meets business innovation in Limassol
The implementation of good practices, the application of technologies related to the decarbonisation of coastal cities and the improvement of the quality of life of residents were the focus of ...
As US credit risk looms, former S&P officials see 2011 downgrade as vindicated
As the United States stares at the risk of a credit downgrade, former Standard & Poor’s officials stood firm behind their seminal 2011 call to slash the country’s rating ...
‘Cyprus presents a dynamic and promising business ecosystem’
The Cyprus Mail sat down with financial markets veteran Matteo Paganini to discuss the pursuit of revenue growth, the current economic climate, and the evolution of Cyprus as a business ...
From Russia with gold – UAE cashes in as sanctions bite
The United Arab Emirates has become a key trade hub for Russian gold since Western sanctions over Ukraine cut Russia’s more traditional export routes, Russian customs records show.
The ...
Cyprus to host major international tourism conference
European University Cyprus this week announced that in collaboration with the International Union of Tourism Policy and Middlesex University, will be holding an international tourism conference in Cyprus.
The conference, ...
Cypriot Chambers of Commerce meet with UN over Green Line regulations
The Cyprus Chamber of Commerce and Industry (Keve) on Wednesday that it participated in a trilateral meeting on May 23, 2023, alongside the Turkish Cypriot Chamber of Commerce (KTTO), and the Special ...
Famagusta business association to launch ‘free university’ initiative
The Cyprus University of Technology (Tepak) and the Chamber of Commerce of Famagusta this week announced that they will collaborate on the launch of a ‘free university’ initiative in Famagusta.
...
Lebanon set to be grey-listed by financial crime watchdog
Lebanon is likely to be placed on a “grey list” of countries under special scrutiny over unsatisfactory practices to prevent money laundering and terrorism financing, three sources familiar with the ...
‘Property sale fluctuations unrelated to land registry attack’
Property sales rose by 20 per cent between January and the middle of May, compared to the corresponding period of 2022, according to the head of the Department of Lands and Surveys ...
Facebook given record $1.3 billion fine, given 5 months to stop EU-US data flows
Meta (META.O) was hit with a record 1.2 billion euro ($1.3 billion) fine by its lead privacy regulator in the European Union for its handling of user information and given five ...
A looming war for minerals?
By Elvire Fabry
The accelerating pace of decarbonisation around the world is fuelling a heated race for critical minerals. Countries are looking to ensure access to specific components needed to ...
Cyprus Business Now: weekly wrap-up
Below are the top business stories from Cyprus for the week starting May 15:
Tourist arrivals in Cyprus experienced an increase of 18.5 per cent in April 2023, compared to the same period ...
Cyprus estate agents urged to invest in cybersecurity
Council for Registration of Real Estate Agents president Marinos Kineyirou this week urged any stakeholders in this space to invest in cybersecurity measures in order to not endanger both their ...