Cyprus Economy

16 Jul 2018

Double taxation treaty for Cyprus and Andorra

Cyprus and Andorra signed a double taxation avoidance during the 128th sessions of the ministers of Foreign Affairs of the Council of Europe. 
08 Jul 2018

Cyprus Property transactions increased by 29% in April

According to the Department of Lands and Surveys, in April, the property transactions increase by 29% to 655 due to a strong performance of the real estate market in Nicosia.
29 Jun 2018

Cyprus and Egypt agreement expected soon

Cyprus and Egypt agreement to connect the Aphrodite gas field to the North African country are expected to be signed over the upcoming weeks. In November 2017, the Cairo-based publication announced that the two nations have signed a preliminary agreement for transporting natural gas from Cyprus to Egypt to be liquefied at Egypt’s LNG facilities and to re-exported to Europe and other markets. 

19 Jun 2018

Cyprus Economy is growing faster in 2018

In the first quarter of 2018, Cypriot Economy was higher, with the positive increase reaching 4%, comparing the first quarter of 2017.
30 Apr 2018

Cyprus EEZ preparation of EP pipeline to Egyptian Terminal

Cyprus and Egypt are preparing for the construction of a submarine gas pipeline from the Cypriot EEZ (Exclusive Economic Zone) to the one of the liquefaction terminals in Egypt, stated by the Foreign Minister Nikos Christodoulides.
29 Apr 2018

An Increase of 8.5% in Tourism Revenue from January 2017 to January 2018

According to the Statistical Service figures, there was an increase of 8.5% in tourism revenue from January 2018 compared to per capita and per day spending on tourists which fell. 
06 Apr 2018

Office, residential rents record double-digit rise

Rent prices rose at an increasing rate in the third quarter of 2017, driven mainly by office space and residential properties, the Cyprus division of the Royal Institute of Chartered Surveyors (RICS) said.
02 Apr 2018

Cyprus’ Economy expands by 4 % in 2017 fourth quarter

According to the estimation of the statistical service Cystat, Cyprus economy has expanded by 4% in the fourth quarter of 2017 in contrast with the relevant three-month period last year.
28 Mar 2018

ENI made important gas discovery in block 6 of Cyprus' EEZ

The Italian energy firm called Eni which owns 50% of the exploration and exploitation rights for block 6 in partnership with Frances’ Total, discovered a lean gas in the coast of Cyprus after drilling an exploratory well at Calypso, the target of exploration in block 6 of the island’s Exclusive Economic Zone (EEZ).
25 Mar 2018

Cyprus Very Close to it's aim of Renewable Energy Sources for 2020

In 2016, the share from Renewable Energy Sources (RES) in gross final consumption of energy reached 17% in the European Union (EU), compared to the share in 2004 (8.5%).
16 Mar 2018

Government to turn Cyprus into world-class business destination

Cyprus Government aims to promote Cyprus as a world-class destination for businesses and investors. Recently President Nicos Anastasiades has received the credentials of the Ambassador of the Grand Duchy of Luxembourg Cyprus, Paul Steinmetz.
10 Oct 2017

Tourist arrivals expected to hit new record in 2017 exceeding 3.6m

Tourist arrivals are expected to exceed 3.6m in 2017, setting a new record, the Cyprus Tourism Organisation (CTO) said in a statement marking world tourism day. 
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