Economy

Hotel occupancy at 25%–45% over Easter; cancellations continue

Weak local demand during holidays Cyprus hotel occupancy remained relatively low during the Easter period, ranging between 25% and 45%, according to PASYXE (Cyprus Hotel...

Fuel prices in Cyprus below EU average

Cyprus ranks below EU average Fuel prices Cyprus remain below the European Union average for both petrol and diesel, according to the European Commission’s Weekly...

Deal sealed for Aphrodite gas field – Exports to Egypt for 15 years

Landmark agreement for Aphrodite field Energy company NewMed Energy, a partner in Cyprus’ offshore Aphrodite gas field, announced on Thursday the signing of a 15-year...

Strait of Hormuz reopening eases tension but economic risks linger

Temporary relief for shipping and oil markets Iran has agreed to reopen the Strait of Hormuz for two weeks, the first clear reopening since the...

Short-term rentals in Cyprus drive growth but pose challenges

Urban development and investment trends Short-term rentals have significantly reshaped city landscapes and living patterns in Cyprus, raising questions about their investment value for property...