Capital markets will continue to be influenced by the demands of the digital transition, the rise of artificial intelligence, as well as new regulatory requirements, according to CySEC chairman George Theocharides.

Citing the European Commission’s autumn macroeconomic forecasts, he mentioned that Cyprus’ economic growth rate in 2025 is expected to reach 2.8 per cent, while inflation is projected to slow to 2 per cent.

“The capital market sector in Cyprus is stabilising, with the number of entities supervised by the Cyprus Securities and Exchange Commission (CySEC) reaching 825 in November,” Theocharides said.

“Approximately 70 new applications of various types are under review for licensing,” he added.

Overnight stays in Cyprus increased by 5.5 per cent in 2024 according to Eurostat.

This lists the Republic among the four EU countries with the greatest increase in short term rentals compared to the previous year including Luxemburg with 21 per cent, Malta with 12 per cent and Latvia with 6 per cent.

Between January and October 2024, most overnight stays were recorded in July reaching a record high of 2,603,465. Despite an overall increase in stays, numbers remain below pre-pandemic levels, indicating that a full recovery of the tourism sector is yet to be expected, just as in the rest of the European Union.

The bill for the privatisation of the Cyprus Stock Exchange (CSE) is undergoing legal review and is expected to reach the House for a vote in February, it emerged on Monday.

CSE chairman Marinos Christodoulides informed the House Finance Committee that the privatisation process is set to be completed by the end of 2025.

Following legislative approval, an investor search will be launched, with offers expected within six months.

Christodoulides said that the legal review, which started in July 2024, should conclude by February, paving the way for legislative approval.

Under the proposed timeline, the winning bidder is expected to be selected within three months, with all procedures completed by October 2025.

Limassol has the highest rental prices in Cyprus, averaging €4,492 for houses, while Famagusta has the lowest, with apartments averaging €745, according to a report released on Monday from Landbank Analytics.

Andreas Christophorides, CEO of Landbank Group, said that “currently, there are 3,257 apartments and 1,227 houses in the market available for rent.”

“The average asking rental price for apartments across Cyprus is estimated at €1,803 per month, while for houses, it stands at €3,249 per month,” he added.

Logicom Services Ltd, a wholly owned subsidiary of Logicom Public Limited, has announced a public offer to acquire all outstanding shares of Demetra Investments.

However, analysts have cast doubt on whether this offer will be accepted, primarily due to a mismatch in valuation.

The public offer, officially launched on January 17, was triggered by Logicom’s acquisition of 17,152,353 Demetra shares from Eurobank, representing 8.576 per cent of Demetra’s issued share capital.

As announced last week, the purchase was made at €1.55 per share, totalling €26,586,147.15.

The Cyprus Chamber of Commerce and Industry (Keve) recently hosted an official dinner celebrating the Chinese New Year, in cooperation with the Cyprus-China Business Association, according to an announcement released on Monday.

The event, held on January 17 in Nicosia, brought together a number of government officials, including Energy Minister George Papanastasiou, and the Ambassador of the People’s Republic of China to Cyprus, Liu Yantao.

In addition, a number of business community stakeholders from both countries were also in attendance.

The Paphos regional tourism board (Etap) has passed on the European Cultural Tourism Network (ECTN) presidency to Romania’s Sibiu tourism association after a Dublin-held election.

The changeover comes after Etap held leadership roles within ECTN for eight consecutive years, including two terms as president and four years as vice president.

Based in Brussels, ECTN remains the sole pan-European network dedicated to integrating culture and tourism.

The Cyprus Stock Exchange (CSE) ended Monday, January 20, with small gains.

The general Cyprus Stock Market Index stood at 229.09 points at 13:10, reflecting a rise of 0.07 per cent.

The FTSE / CySE 20 Index was at 139.30 points, representing an increase of 0.03 per cent.

The total value of transactions came up to €494,997, until the aforementioned time during trading.

In terms of the sub-indexes, the main and hotel indexes rose by 0.36 per cent and 0.53 per cent respectively. The alternative index fell by 1.17 per cent while the investment firm index declined by 2.74 per cent.

The biggest investment interest was attracted by the Bank of Cyprus (+2.38 per cent), Hellenic Bank (no change), Demetra (-2.78 per cent), Logicom (+3.78 per cent), and Atlantic Insurance (-3.65 per cent).