The Cyprus Securities and Exchange Commission (CySEC) on Thursday hosted the plenary meeting of the International Organisation of Securities Commission’s (IOSCO) European Regional Committee (ERC) in Nicosia.

The ERC is one of four regional committees established by IOSCO to address regional issues related to securities regulation.

The event attracted over 52 participants, with the ERC representing 57 member authorities.

Discussions during the meeting focused on IOSCO’s key priorities and pressing issues affecting the securities market.

CFA Society Cyprus and the Cyprus Compliance Association (CCA) have announced the signing of a memorandum of understanding (MoU).

According to the announcement, this aims to “elevate transparency and professional standards in Cyprus’ financial markets“.

The agreement, sealed by Andrea Moundi Savvides and Nikos Potamaris, presidents of the CCA and the CFA Society Cyprus respectively, was enacted before an assembly of both boards.

Affordable cities are gaining momentum in real estate as shifting work trends and rising demand reshape the market landscape, according to Ask Wire CEO and co-founder Pavlos Loizou.

In a piece of analysis released on Thursday, Loizou said that while traditional property powerhouses such as Athens, Thessaloniki, and Limassol continue to attract attention, smaller cities like Patras and Larnaca are emerging as significant players.

Loizou noted that the shift towards these more affordable, liveable cities, driven by remote work and lifestyle changes, is gaining momentum.

This trend is exemplified by the significant increase in property transactions in Patras, which surged by 121.95 per cent in 2024.

Consequently, Loizou advised that agents should target these cities’ rental markets, while developers could focus on mid-sized projects tailored for young families or remote workers.

Cyprus saw a substantial increase in loans in December 2024, with a rise of €503.2 million following a decrease the previous month, according to the Central Bank of Cyprus (CBC).

At the same time, total deposits surged by €977.4 million, marking a significant jump compared to November 2024.

The CBC reported that the annual growth rate of total deposits reached 6.6 per cent, compared to 5.4 per cent in November 2024.

As a result, the total deposit balance in December 2024 reached €55.9 billion.

Household deposits saw an increase of €594.5 million, while deposits from domestic non-financial companies dropped by €135.3 million.

The payments industry is undergoing a rapid transformation, with technological innovations like tap-to-pay, blockchain integration, and generative AI shaping its future, according to payments giant Mastercard.

The company on Thursday released a report identifying ten global trends that will define the payments landscape in 2025.

“By 2030, Mastercard envisions a world where electronic transactions can occur without the need for card numbers or passwords,” the company said.

This ambitious goal is to be achieved by leveraging tokenisation, biometric verification, and digital wallets like Click to Pay.

“The aim is to make transactions not only simpler but also safer and more efficient for consumers and businesses alike,” the company explained.

Banana growers are preparing a memorandum of demands amid ongoing fears over their crops following the draining of the Mavrokolympos reservoir last week and the driest January since 1997.

With the memorandum, they seek to address President Nikos Christodoulides and Agricultural Minister Maria Panayiotou.

At a meeting on Monday, 250 farmers had warned that continued water supply problems would prevent their banana crops from growing large enough to be sold, and called on the government to offer them fsupport.

Droushia deputy major Sotiris Koupparis said said banana farmers “appear to be facing a major problem” and that the full extent of the damage caused by the lack of water has not yet been assessed.

The Polis Chrysochous has lost between €150,000 and €200,000 from the operation of its municipal beach, mayor Yiotis Papachristofi said on Thursday.

Speaking to the Cyprus News Agency, he said the municipality’s expenses exceed its income, and that it is his municipality which must cover half the cost of the beach’s lifeguards, a fact which he said “places a heavy financial burden” on his municipality.

He said he is expecting to see “a plan” from the interior ministry within the next three months, to be implemented before the summer season, which will involve all four of the Paphos district’s municipality and assess the viability of the district’s beaches.

The Digital Cooperation Organisation (DCO) is set to hold its 4th General Assembly on February 19, 2025 at the King Hussein Bin Talal Convention Centre in the Dead Sea, Jordan.

This landmark event will bring together representatives from the organisation’s 16 member states, including Cyprus, observers, international organisations, and high-level delegations to discuss global digital economy challenges and strategies.

The event marks a key moment in the organisation’s four-year journey of promoting inclusive and sustainable digital transformation.

The assembly will feature the official inauguration of the International Digital Cooperation Forum (IDCF), a new annual gathering designed to foster innovation, collaboration, and actionable change in the digital sector.

The Cyprus Stock Exchange (CSE) ended Thursday, January 30, with losses.

The general Cyprus Stock Market Index stood at 225.64 points at 12:32, reflecting a drop of 0.45 per cent.

The FTSE / CySE 20 Index was at 137.07 points, representing a decrease of 0.46 per cent.

The total value of transactions came up to €125,521, until the aforementioned time during trading.

In terms of the sub-indexes, the main and alternative indexes fell by 0.56 per cent and 0.06 per cent respectively. The investment firm index also decreased by 0.59 per cent while the hotel index remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (-1.19 per cent), Agros Development Company (no change), Demetra (-0.6 per cent), Petrolina (-0.53 per cent), and Salamis Tours (no change).