Wednesday, Aug 23, 2017
CYPRUS NEWS

Cypriot stability

A unique selling proposition


Cypriot President Nicos Anastasiades

Cyprus is the only stable country in the East Mediterranean Apr 20, 2016

Industry & Trade | Europe | Cyprus


Cyprus brand

‘We are rebuilding a different Cyprus brand’




We asked Cypriot business and political leaders about their insight on the changing brand of Cyprus since the image crisis following the 2013 financial... Apr 14, 2016

Industry & Trade | Europe | Cyprus


Cyprus Online Gaming

More than just games


Victor Kislyi, Co - Founder and CEO of Wargaming

Wargaming co-founder and CEO Victor Kislyi discusses why the award-winning online game developer, publisher and industry leader chose Cyprus as a base... Apr 10, 2016

Telecoms & ICT | Europe | Cyprus


Cyprus' education

Private sector drives higher education development




Opening of tertiary education to private sector in 2007 has raised standards Apr 05, 2016

Education | Europe | Cyprus


Cyprus' Financial services

Financial services will be ‘one of the pillars of growth of the Cyprus economy’


Kikis Treppides, Managing Partner and Chairman, K. Treppides & Co Ltd

Professional and financial services sector supports vision of international business hub Mar 31, 2016

Finance | Europe | Cyprus


Cyprus: Strategic point

International businesses choose Cyprus for headquarters




Cyprus is increasingly ranked on the shortlist of decision makers when it comes to choosing the right location to establish international and regional... Mar 26, 2016

Industry & Trade | Europe | Cyprus


Cyprus, brimming of posibilities

Cyprus rediscovers its shine




With Cyprus finally back on its feet and on the road to recovery following a major banking crisis that crippled the country’s economy, the eastern... Mar 24, 2016

Finance | Europe | Cyprus


World Exchange Congress 2016: Navigating a volatile financial landscape

This year’s meeting of the World Exchange Congress (WEC) on March 22-23 takes place...


Cyprus’ economy is bouncing back

Foreign direct Investment needed to reinforce positive growth


Christodoulos E. Angastiniotis, Chairman of the Cyprus Investment Promotion Agency (CIPA)

After a devastating banking crisis in 2013, Cyprus’ economy is bouncing back as the Mediterranean Island positions itself as not only an idyllic... Mar 20, 2016

Finance | Europe | Cyprus


Business and logistics hub

Public-private partnerships key to creation of world-class business and logistics centre


Marios Demetriades, Minister of Transport, Communication and Works

The government is working closely with private firms in the transport and communications sectors to turn well-positioned Cyprus into a competitive business... Mar 15, 2016

Infrastructure | Telecoms & ICT | Europe | Cyprus


Finance - Hellenic Bank

Banking sector investment and reform ensures more reliable partners for international investment


Irena Georgiadou, Chairwoman of Hellenic Bank

Cyprus was hit harder than most by the global economic downturn but green shoots are emerging and the country’s prospects are beginning to brighten Mar 10, 2016

Finance | Europe | Cyprus


Finance - Cooperative Central Bank

Restructuring NPLs top priority for banks


Nicholas Hadjiyiannis, CEO of Cooperative Central Bank

Held in high regard by the public and politicians alike for their ethical, social and community-focused approach to financial services, co-operative banks... Mar 03, 2016

Finance | Europe | Cyprus


Finance - Bank of Cyprus

Investors re-engage as Bank of Cyprus comes out of the woods


John Hourican, Outgoing CEO of the Bank of Cyprus

Cyprus’ largest bank, which sold one billion euros worth of seven-year bonds in April, now plans to raise a further 10 billion from 10-year bonds... Feb 27, 2016

Finance | Europe | Cyprus


EBRD banks on Cyprus’ successful reforms with increased investment

Libor Krkoška
Head of the EBRD Office in Cyprus

The European Bank for Reconstruction and Development (EBRD) bolstered its engagement with... Jan 08, 2016


Streamlined payment systems prioritize security and convenience

Michael Ioannides
General Manager of JCC Payment Systems Ltd

Michael Ioannides, General Manager of JCC Payment Systems Ltd, explains how his company’s... Jan 08, 2016


Cypriot shipping agent targets creating a regional niche market for next-gen expansion

Christakis P. Papavassiliou
Managing Director of Shoham Cyprus Ltd

Christakis P. Papavassiliou, Managing Director of shipping and freight forwarding agent... Dec 10, 2015


Cyprus navigates crisis and sets sail to become a maritime hub

Andreas Hadjipetrou
Managing Director of Columbia Shipmanagement Ltd

Cyprus offers an “international environment that provides an extensive shipping network... Dec 03, 2015


“Prosperity is built on the foundations of austerity”

John Hourican
Outgoing CEO of the Bank of Cyprus

John Hourican, Bank of Cyprus’ outgoing CEO, explains the Cypriot economic renaissance,... Dec 03, 2015


Investors re-engage as Bank of Cyprus comes out of the woods

Cyprus’ largest bank, which sold one billion euros worth of seven-year bonds in April,... Feb 27, 2016


Private sector drives higher education development in Cyprus

Nicos Peristianis
Founder and Council President of the University of Nicosia

Nicos Peristianis, founder and Council President of the University of Nicosia, one of the... Dec 01, 2015


Biodiversity hotspot sets out environmental action plans and urges global efforts to meet climate challenges

Nicos Kouyialis
Minister of Agriculture, Rural Development and Environment for Cyprus

Cyprus’ Minister of Agriculture, Rural Development and Environment Nicos Kouyialis... Dec 01, 2015


Focus on back to basics in one of the most unique areas of the world highlights major eco-tourism potential

Klelia Vasiliou
Managing Director of the Troodos Development Company and the Troodos Geopark Visitors Center

Klelia Vasiliou, Managing Director of the Troodos Development Company and the Troodos Geopark... Dec 01, 2015


Professional services: resilient mainstay of the Cypriot economy

Kikis Treppides
Chairman of K. Treppides & Co.

Chairman of K. Treppides & Co., the largest independent consulting firm in Cyprus, Kikis... Dec 01, 2015


Financial services will be ‘one of the pillars of growth of the Cyprus economy’

Professional and financial services sector supports vision of international business hub

Mar 31, 2016

World’s longest continuously producing copper mine with over 4,000 years of history

Constantinos Xydas
CEO of Hellenic Copper Mines

Constantinos Xydas, CEO of Hellenic Copper Mines, looks at Cyprus’ long mining tradition,... Nov 18, 2015


Confidence and stability, the key to renewed FDI

Ms. Irena Georgiadou
Chairwoman of Hellenic Bank

World Report sits down with Hellenic Bank Chairwoman, Irena Georgiadou, to discuss current... Oct 02, 2015


Banking sector investment and reform ensures more reliable partners for international investment

Cyprus was hit harder than most by the global economic downturn but green shoots are emerging... Mar 10, 2016


Foreign direct investment needed to reinforce positive growth

Christodoulos E. Angastiniotis
Chairman of “Invest Cyprus”

World Report sits down with Cyprus Investment Promotion Agency (CIPA) Chairman, Christodoulos... Oct 02, 2015


Foreign direct Investment needed to reinforce positive growth

After a devastating banking crisis in 2013, Cyprus’ economy is bouncing back as the... Mar 20, 2016


Investor safety and legal framework paramount for recovery

Ionas Nicolaou
Minister of Justice and Public Order

World Report sits down with the Minister of Justice and Public Order, Ionas Nicolaou, to... Oct 01, 2015


Higher demand key to greater connectivity

Wes Porter
CEO of Hermes Airports

Hermes Airports’ CEO Wes Porter discusses their experience as one of the largest foreign... Sep 25, 2015


More than just games

Victor Kislyi
Co - Founder and CEO of Wargaming Public Company Limited

World Report sits with Wargaming co-founder and CEO Victor Kislyi to discuss why the award-winning... Sep 21, 2015


More than just games

Wargaming co-founder and CEO Victor Kislyi discusses why the award-winning online game developer,... Apr 10, 2016


Marinas, mountains and casinos: big changes to bring year-round tourism

Angelos Loizou
Chairman of the Cyprus Tourism Organization (CTO)

Angelos Loizou, Chairman of the Cyprus Tourism Organization (CTO), discusses how one of... Sep 09, 2015


Competitive telecoms: the most important asset of the Cypriot economy

Michalis Ε. Achilleos
CEO of the Cyprus Telecommunication Authority (Cyta)

Looking to establish itself as an important national and regional player, the Cyprus Telecommunication... Sep 08, 2015


Public-private partnerships key to creation of world-class business and logistics centre

The government is working closely with private firms in the transport and communications... Mar 15, 2016


Energy and entrepreneurship: changing the economic landscape

Yiorgos Lakkotrypis
Ministry of Energy Commerce, Industry and Tourism

Cyprus’ Minister for Energy, Commerce, Industry and Trade Yiorgos Lakkotrypis discusses... Aug 20, 2015


Port commercialization to see greater efficiency and capacity

Alecos Michaelides
Permanent Secretary at the Ministry of Transport Communications and Works

With 33 operators expressing interest in the Limassol port concessions, it is clear that... Aug 18, 2015


Cyprus’ private sector “ready for growth”

Platon E. Lanitis
Executive Chairman of the Lanitis Group of Companies

Lanitis Group, one of the largest private sector conglomerates in Cyprus, has seen the best... Aug 18, 2015


Cooperative banking cornerstone of growth in real economy

Nicholas Hadjiyiannis
CEO of Cooperative Central Bank

World Report sits down with Nicholas Hadjiyiannis of Cooperative Central Bank to discuss... Aug 07, 2015


Restructuring NPLs top priority for banks

Held in high regard by the public and politicians alike for their ethical, social and community-focused... Mar 03, 2016



LOCATION:

Middle East, island in the Mediterranean Sea, south of Turkey



MAP REFERENCES:

Middle East



AREA:

total: 9,251 sq km (of which 3,355 sq km are in north Cyprus)



CLIMATE:

temperate; Mediterranean with hot, dry summers and cool winters



NATURAL RESOURCES:

copper, pyrites, asbestos, gypsum, timber, salt, marble, clay earth pigment



POPULATION:

1,189,197 (July 2015 est.)



GOVERNMENT TYPE:

republic



CAPITAL:

name: Nicosia (Lefkosia/Lefkosa)



LEGAL SYSTEM:

mixed legal system of English common law and civil law with European law supremacy



GDP - real growth rate:

-2.8% (2014 est.)

-5.4% (2013 est.)

-2.4% (2012 est.)



GDP - composition, by sector of origin:

agriculture: 2.9%

industry: 10.5%

services: 86.6% (2015 est.)



AGRICULTURE - products:

citrus, vegetables, barley, grapes, olives, vegetables; poultry, pork, lamb; dairy, cheese

Agriculture - products: citrus fruit, dairy, potatoes, grapes, olives, poultry, lamb



INDUSTRIES:

tourism, food and beverage processing, cement and gypsum, ship repair and refurbishment, textiles, light chemicals, metal products, wood, paper, stone and clay products

Industries: foodstuffs, textiles, clothing, ship repair, clay, gypsum, copper, furniture



EXPORTS:

$1.916 billion (2014 est.)

$2.14 billion (2013 est.)

Exports: $68.1 million, f.o.b. (2007 est.)



EXPORTS - commodities:

citrus, potatoes, pharmaceuticals, cement, clothing



EXPORTS - partners:

Greece 17.6%, UK 14.6% (2013 est.)



IMPORTS:

$6.827 billion (2014 est.)

$6.42 billion (2013 est.)

Imports: $1.2 billion, f.o.b. (2007 est.)



IMPORTS - commodities:

consumer goods, petroleum and lubricants, machinery, transport equipment



IMPORTS - partners:

Greece 23.6%, Israel 13.7%, Italy 7.1%, Germany 6.6%, UK 6.5%, France 6.4%, Netherlands 6.2%, Spain 4.4%, China 4.3% (2013 est.)



COUNTRY REPORTS




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