News

2023

  • Economy sustains growth despite external pressures - The economic growth rate remains robust, standing at 2.5% in the third quarter of 2023 compared to the same quarter in 2022, despite prevailing external pressures, as reported by the Statistical Service. After adjusting the Gross Domestic Product (GDP) for seasonal variations... more

  • EU greenlights Cyprus’ green transition plan - The European Commission on Thursday gave a positive assessment of Cyprus’ modified recovery and resilience plan, which includes a REPowerEU chapter. The plan is now worth €1.22 billion – €0.2 billion in loans and €1.02 billion in grants. Cyprus’s REPowerEU chapter consists of... more

  • Q3 property sales documents hit €1 bln - The value of property sales agreements submitted in the third quarter reached €1 billion, with the real estate market maintaining its strength despite challenges. According to property sales data from the Department of Land and Surveys, processed by the Real Estate Agents Reg... more

  • Cyprus to generate 40% solar power by 2030 - Cyprus has the potential to meet 40% of its energy demand through solar power by 2030, Director-General of the International Renewable Energy Agency (IRENA) Francesco La Camera said. He told the Cyprus News Agency (CNA) about the importance of interconnectivity of the energy ... more

  • Property sales reached 15 year high in second term - The Cyprus property market witnessed a record number of sales during the second quarter of 2023, reaching a level not seen in 15 years, according to a report released this week by the Central Bank of Cyprus (CBC). Furthermore, property prices, especially for apartments, have ... more

  • Moody's upgraded Cyprus to Investment Grade Baa2 - Moody's Investors Service on Friday raised its ratings on the Government of Cyprus by two notches, to Baa2, and changed its outlook on the country to stable from positive. The ratings upgrade reflects "broad-based, sustained improvements" in Cyprus's credit profile, resulting... more

  • WTC Cyprus Becomes Carbon Neutral - In today's rapidly changing world, the corporate landscape is witnessing a remarkable shift towards environmental sustainability. Companies are not just embracing this change; they are actively leading the way, setting new standards for corporate responsibility. World Trade Ce... more

  • A succesful WTCA ERM hosted by WTCCyprus - WTC Cyprus had the privilege of hosting the prestigious WTCA’s European Regional Meeting right here in the heart of Limassol, Cyprus. Over two remarkable days, we welcomed nearly 30 World Trade Centers from around the globe to the beautiful Mediterranean Hotel. Our distinguis... more

  • Facilitation of Strategic Development Projects - The Interior Ministry has welcomed parliament’s approval of legislation connected to an important tool in the State’s efforts to facilitate strategic development projects. The House of Representatives passed the Law on the Facilitation of Strategic Development Projects, bas... more

  • Welcome To Cyprus (WTC) - ERM 2023 - World Trade Center Cyprus (WTCCy) is delighted to unveil its role as the proud host of the forthcoming European Regional Meeting, set to take place in the vibrant city of Limassol in September 2023. With a thematic focus on "Europe Connects," this event stands as a significant... more