Fitch Ratings has upgraded the Long-Term Issuer Default Rating (IDR) of the Bank of Cyprus (BoC) to BBB- from BB+, assigning a positive outlook.

The Deputy Ministry of Shipping is advancing plans to construct new headquarters on the site of the former ‘Nemitsas’ factory in Limassol, following recently introduced public investment procedures.

Tourist arrivals in Cyprus recorded a year-on-year increase of 7 per cent in February 2025, with an additional 32,865 visitors arriving on the island during the first two months of the year.

Cyprus’ real estate market continued its robust growth into February, with property sales increasing by 7 per cent year-on-year.

The Bank of Cyprus has announced that it has received the Quality Recognition Award from global financial services firm JP Morgan Chase.

Cyprus’ Larnaca and Paphos airports achieved a milestone in passenger traffic during February, surpassing half a million passengers, according to the Transport Ministry.

The Cyprus Securities and Exchange Commission (CySEC) has approved Eurobank’s public offer document for the acquisition of up to 100 per cent of Hellenic Bank’s issued share capital.

Former Cyprus Shipping Chamber (CSC) director general Thomas Kazakos has resigned as director of Lordos Hotels (Holdings) Public Limited, effective February 28, 2025.

Tourism revenue in Cyprus saw a significant year-on-year increase of 17 per cent in December 2024, according to a report released on Tuesday by the state statistical service.

Cyprus’ tax-free income threshold is set to rise to €20,500 per year, following the announcement of a set of sweeping tax reform plans by President Nikos Christodoulides on Tuesday.