. The world’s financial and energy crisis indicates the need to explore in depth all the alternative sources of energy, especially the Renewable Energy Sources (RES). Biogas technology from farming and urban organic waste can be the key factor for the Cyprus energy mix, replacing the imported and polluting fossil fuels. Cyprus is ranked third
More
Economic sentiment in Cyprus improved in December as the University of Cyprus Economic Sentiment Indicator increased by 3.4 points from November 2018 and is 1.8 points better off than a year ago. This increase was mainly driven by stronger business confidence in services and industry. UCY economists said marginal improvements in confidence in the construction
More
Almost half of the companies listed with Cyprus’ Registrar of Companies have not paid their registration premium for the past four years, with the state losing out on tens of millions in income. Nine out of 10 companies (90.2% or 185,639 out of 205,824) have yet to pay the premium for 2018. With the annual
More
Recent changes to the law on home repossessions, aimed at giving the Cyprus banking system a tool to reduce their NPL portfolios does not seem to have contributed much to this end. The banking system’s high rate of NPLs is viewed as the greatest risk to the economic revival. According to data released by the
More
Revenue from Cyprus tourism surged 6% in October reaching €293.8 mln from €277.1 mln in the same month of 2017, it is the highest percentage increase since March. For the 10 months to October 2018 revenue from tourism is estimated at €2.56 bln compared to €2.49 bln in the same period of 2017, recording an
More
Savvas Perdios, the first junior minister for tourism after the Cyprus Tourism Organisation was restructured, believes the critical time to see how Brexit will affect holidaymakers from the UK will be sometime in March when all the travel exhibitions take place. “The (U.K.) tour operators have not revealed their intentions yet, as even they
More
Cyprus is second only to Malta in the EU when it comes to total household expenditure on restaurants and hotels. But Cyprus comes top when spending only on hotel and other accommodation services with 8.8% of total household expenditure. In 2017, households in the European Union (EU) spent 8.8% of their total consumption expenditure on
More
Cypriot firms are moderately optimistic about their business prospects over the coming year, according to the Pan-European Economic Survey of European Chambers of Commerce. The survey involved over 45,000 businesses in 26 EU countries. Findings for the survey in Cyprus, conducted by the Cyprus Chamber of Commerce and Industry (CCCI) showed increased but moderate optimism
More
. Here's an overview of the main trends in the Cyprus property market over the next 12 months following on from 2018. Increasing demand for Grade A office space Nicosia, being the capital and financial centre of Cyprus, is home to the public sector and most of the large businesses operating on the island. Traditionally,
More
Nicosia expects the UN peacekeeping force in Cyprus (UNFICYP) mandate will be renewed later this month by the UN Security Council, government spokesman Prodromos Prodromou said. It would be “an absolute paradox” if the situation regarding UNFICYP changed, as efforts for the resumption of Cyprus talks is underway by the UN Secretary-General Antonio Guterres, through
More