Limassol’s mayors and business leaders convened this week to discuss their demands for increased state funding and a “sharper strategic focus” from the government.

They argued that Limassol, a major contributor to Cyprus’ GDP, “deserves better support and recognition”.

The meeting, which involved all four mayors of Limassol—Yiannis Armeftis of Limassol, Andros Theodorou of Polemidia, Kyriakos Xydias of Amathus, and Pantelis Georgiou of Kourion—and members of the Limassol Chamber of Commerce and Industry (Evel), focused on backing for crucial development projects that they argue are essential for the city’s growth and prosperity.

During the two-hour session, the leaders discussed several key infrastructure projects that require immediate attention and funding.

The Cairo business conference held alongside the summits between Cyprus, Egypt and Greece, highlighted economic ties and a shared vision for the region, the Cyprus Chamber of Commerce (Keve) said on Thursday.

“Discussions focused on cooperation in key sectors such as energy, trade, tourism, technology, and infrastructure,” Keve’s announcement said.

The three business chambers on Wednesday signed a Memorandum of Understanding (MoU) establishing a trilateral council which aims to “promote collaboration, facilitate matchmaking activities, and implement joint programs and initiatives.”

Participants aligned their goals of maximising the Eastern Mediterranean’s potential to lead global energy security and innovation and these efforts “leverage the unique strengths of each country towards economic opportunities and sustainable development across the region,” Keve said.

Cyprus surpassed other European countries like Croatia, Bulgaria, and Slovenia in short-term rental growth during 2024, according to Eurostat.

The EU’s statistical office reported this week that short-term bookings in Cyprus jumped to 759,315 in September 2024, up from 642,601 the previous year.

From January to September 2024, Cyprus recorded a total of 4,8 million nights spent in short-stay accommodation, up from 4,16 million during the corresponding period last year.

These figures stem from guest bookings through popular platforms such as Airbnb, Booking.com, Expedia Group, and Tripadvisor. 

The Cyprus Securities and Exchange Commission (CySEC) this week issued a warning to investors regarding ten websites that are not authorised to provide investment services or perform investment activities.

The websites in question are surgirux.pro, nasanetac.com, a-eternitycapital.ltd, marketsvox.com, rohkatech.com, asteo-group.com, elegantopex.com, ewripro.com, haystdq.com, and eldenstrade.com.

CySEC emphasised that none of these entities holds a licence to operate as investment firms.

Cyprus’ shopping malls reported record-breaking performance in 2024, with December emerging as a standout month for both footfall and sales.

George Georgiou, general manager of Nicosia Mall, told local outlet Stockwatch that annual visitor numbers increased by 3 per cent compared to 2023, reaching nearly 5.7 million.

Preliminary data suggest an 8 per cent-10 per cent rise in turnover, expected to close at approximately €195 million excluding VAT.

Georgiou attributed this success to improved store offerings and, to a lesser extent, inflation.

Hellenic Bank on Thursday announced that its annual HB EmPOWERment Talks initiative successfully concluded for the second consecutive year.

The bank explained that this series of talks aims to support the personal development of Hellenic Bank staff, “aligning with the desired culture and priorities of the organisation”.

In addition, the series is designed to “keep employees informed on current topics, stimulate reflection, and introduce them to new knowledge”.

The announcement mentioned that this initiative began in 2023 during “Staff Appreciation Week” with three virtual talks that received enthusiastic feedback from Hellenic Bank employees.

Cyprus is set to intensify its appeal to Chinese tourists, aiming to secure a greater share of one of the world’s largest outbound travel markets, Deputy Minister of Tourism Kostas Koumis said this week.

This announcement came during a strategic dialogue with a visiting delegation from Shanghai, led by Fumo Ji, the Athens-based General Manager of Juneyao Airlines.

The engagement is part of a broader initiative designed to cultivate the Chinese tourism sector and will continue with various activities until January 11.

Koumis expressed confidence in the burgeoning partnerships that are expected to invigorate Cyprus’ tourism sector.

The Cyprus Stock Exchange (CSE) ended Thursday, January 9, with gains.

The general Cyprus Stock Market Index stood at 220.96 points at 13:34, reflecting a rise of 0.29 per cent.

The FTSE / CySE 20 Index was at 134.37 points, representing an increase of 0.31 per cent.

The total value of transactions came up to €192,568, until the aforementioned time during trading.

In terms of the sub-indexes, the main and alternative indexes rose by 0.31 per cent and 0.3 per cent respectively. The hotel index remained unchanged while the investment firm index fell by 0.01 per cent.

The biggest investment interest was attracted by the Bank of Cyprus (+0.21 per cent), Hellenic Bank (+0.21 per cent), the Cyprus Cement Company (no change), Demetra (no change), and Salamis Tours (no change).