13 h. ago Cyprus tourism resilient despite global trade concerns, says Koumis

Tourism Deputy Minister Kostas Koumis this week announced a record-setting year for Cyprus’ tourism sector, with over 4 million visitors and revenues exceeding €3 billion. This growth has been fueled by a 6 per cent increase in air travel routes, including a significant 9 per cent rise in flights to and from Germany, Europe’s largest […]

Politics

15 h. ago Passenger demand growth accelerates to 10 per cent in January 

Global passenger demand experienced a robust increase in January, according to the International Air Transport Association (IATA). Total demand, measured in revenue passenger kilometres (RPK), rose by 10 per cent compared to January 2024, while capacity, measured in available seat kilometres (ASK), increased by 7.1 per cent year-on-year.   This led to an all-time high January […]

Politics

35 h. ago Larnaca and Limassol fuel 7 per cent rise in Cyprus property sales in February

Cyprus’ real estate market continued its robust growth into February, with property sales increasing by 7 per cent year-on-year. Developments in Limassol and Larnaca were the primary driver behind this surge. According to the land department, property sales nationwide rose to 1,371 in February 2025, up from 1,284 in the same month last year. Over […]

Politics

41 h. ago Zara owner Inditex shares slide after slower start to first quarter

Zara owner Inditex (ITX.MC) this week reported a slower start to its first quarter starting February 1, raising questions around its ability to keep building on rapid recent growth and sending its shares down more than 8 per cent in early trading. Strong sales from Zara, which has been gaining market share from rivals such […]

Politics

3 d. ago Aegean reports 9 per cent passenger growth, announces new routes

Aegean Airlines on Tuesday reported a strong start to 2025, carrying 1.9 million passengers in the first two months of the year, marking a 9 per cent increase compared to the same period in 2024. The airline also announced ambitious expansion plans, offering 1.8 million additional seats in 2025, bringing the total available seats to […]

Politics

4 d. ago Strong profits and deposits boost Cyprus and Greece’s leading banks

The largest banks in Cyprus and Greece successfully exceeded all their financial targets for 2024, demonstrating robust profitability and strengthened balance sheets. According to preliminary results released by the two largest Cypriot banks and the four largest Greek banks, all institutions reported solid profit growth and improved financial stability. Net interest income, the primary source […]

Economics

1 week ago Cyprus economy projected to have grown by 3.4 per cent in 2024

The Cypriot economy is projected to have grown by 3.4 per cent during 2024, in real terms, according to the state statistical service. At current prices, the Gross Domestic Product (GDP) is expected to rise by 6.6 per cent. The positive growth is primarily driven by a number of sectors. These include hotels and restaurants, […]

Politics

2 w. ago Turkey’s economy grows 3.2 per cent in 2024, exceeding forecast

Turkey’s economy grew 3.0 per cent year-on-year in the fourth quarter of 2024, bringing full-year growth to 3.2 per cent, official data showed on Friday, exceeding forecasts despite the weight of high interest rates. The government, which had initially projected 3.5 per cent growth for 2024, had trimmed its expectations to reflect ongoing adjustments in […]

Politics