The Chairman of the Cyprus Tourism Organisation (CTO) Photis Photiou said one of the key elements in the suggestions for the upgrading of the Cyprus tourism product was the creation of casinos here. Speaking at a conference held by the Hoteliers Association PASYXE, Photiou said “Cyprus needs casinos and this has been my position since

OEV expects Turkey breakthrough soon Cyprus is looking towards a 10% increase in summer tourist arrivals, according to CTO Chairman Photis Photiou, but at the same time, the head of the hoteliers association warned that through the government controlled side, some 100,000 tourists are expected to cross into the north. The CTO chief said that

Faced with declining bookings and ever rising costs, the island’s hoteliers launched their summer brochure offering discounts of up to 50% to Cypriots and other permanent residents on the island. The summer brochure of the Cyprus Hoteliers Association (PASYXE) contains a list of 94 hotels that are members of the Association. The scheme is being

Which sectors will benefit from entry in ERM2 The entry of the Cyprus pound into the ERM2 at the existing parity rate of EUR 1.7086 per CYP or CYP 0.585274 per euro is widely seen as a very positive development that will lead to convergence of Cyprus rates with those of the euro-zone in the

Share prices hardly moved on Wednesday, the first day of trading after the long Easter break and the weekend news that Cyprus, together with Malta and Latvia had been accepted into the ERM2, while the Cyprus pound also showed no particular movement. The CSE Main and Parallel market index closed Wednesday at 1210.93 points, for

Financial Mirror weekly analysis of the Cyprus stock market ERM2 & declining rates Our last week’s scoop on the imminent entry of the Cyprus pound into ERM2 was confirmed over the weekend as the ECB allowed Cyprus, Malta and Latvia to join the mechanism, the prelude to entry into euro-zone in two years’ time. The

Cytanet, the Internet division of CyTA has launched its new Wi-Fi zone aimed at businesses and corporations in their attempt to attract customers. The service is based on high speed, wireless open/public Wi-Fi networks which can be installed in hotels, cafes, conference centres and other public areas, Cytanet said in an official statement. These networks

Revenue from tourism jumped by 13.2% year-on-year to CYP 47.6 mln in March 2005 compared to CYP 42.1 mln following a 22% increase in the number of arrivals in March as the Catholic Easter boosted arrivals and revenue numbers. The Department of Statistics reported that for the period January – March 2005, revenue from tourism