Speaking at an event held to present the government’s proposals at the presidential palace, he promised his reforms will strengthen Cyprus’ middle class, which he described as the “foundation of every prosperous and democratic society”.
The most notable of his planned reforms is an increase in individuals’ tax-free incomes, while he also promised a “series of significant tax deductions which take into account the needs of households and the composition of the family”.
Christodoulides announced a new ringfence for an annual extra €1,000 of tax-free income per year for every person in Cyprus, as well as €1,000 of tax-free income for every dependent a parent has, €1,500 of tax-free income for every parent who is either buying their first house or renting, and €1,000 for a “green investment” on the part of every parent. Single parents will receive double the ringfenced tax-free amount.
The survey, presented at the PwC Experience Centre, is part of PwC’s Global CEO Survey, which was launched last month at the World Economic Forum in Davos.
While the results underscore optimism about economic growth, they also highlight ongoing concerns regarding business sustainability, workforce skills, and technological disruption.
According to the survey, 69 per cent of business leaders in Cyprus expressed confidence in the country’s economic growth prospects, a notable increase from 43 per cent last year.
Founder of Aloha Browser, Andrew Frost Moroz, attributed the company’s rapid growth to both regulatory changes and Cyprus’ conducive business environment.
“Cyprus’ progressive business environment and strategic government initiatives to attract global talent have been instrumental in accelerating Aloha Browser’s growth,” he said exclusively to the Cyprus Mail.
“The country’s favourable tax regime, modern infrastructure, and business-friendly regulations create an ideal ecosystem for tech innovation,” he added.
Specifically, the Economic Sentiment Indicator (ESI) rose by 0.8 points compared to January 2025, according to the CypERC’s latest economic sentiment survey.
The increase in the ESI was driven by strengthened business sentiment across all sectors, with the exception of retail trade.
In the services sector, sentiment improved slightly in February as businesses assessed their turnover over the past quarter more positively compared to the previous month.
The data revealed moderate increases in all property categories nationwide during the final quarter of last year.
When compared to the third quarter of 2024, the most significant increase was recorded in warehouses, while apartments continued to show the most consistent growth based on annual changes.
On a yearly basis, apartments saw the most substantial increase, followed by office spaces.
Houses and warehouses experienced slight increases, while commercial properties recorded marginal growth. What is more, on a month-on-month basis, the highest index rise was observed in apartments.
Speaking at the official dinner of the Agios Athanasios Industrialists’ Association in Limassol on Tuesday evening, Christodoulides said that the government is revising its industrial policy, focusing on internationalisation and expanding Cyprus’ industrial presence abroad.
Addressing attendees, including Transport Minister Alexis Vafeades, the president urged the swift implementation of a longstanding request from industrialists for a second entrance and exit to the industrial area.
“When it comes to safety issues, no delay is acceptable,” he stated.
Moreover, he reflected on the history of the Agios Athanasios industrial area, established in 1978 during Cyprus’ post-invasion reconstruction.
“The Agios Athanasios industrial area has been and continues to be a significant growth driver, not only for Limassol but for all of Cyprus,” he stated.
According to Logicom’s announcement, following its January 17, 2025, statement regarding the mandatory public offer, CySEC has reviewed and approved the offer document, allowing its publication on February 25, 2025.
Logicom currently holds 76,984,453 shares in Demetra, representing 38.492 per cent of the company’s issued share capital and voting rights. When combined with shares held by associated parties, this figure rises to 38.493 per cent.
As of January 17, when the public offer was announced, Logicom—a wholly owned subsidiary of Demetra before the transaction—held 59,832,100 ordinary Demetra shares, each with a nominal value of €0.70, amounting to 29.916 per cent of Demetra’s issued share capital.
For the public offer to be deemed successful under Article 10(1) of the Takeover Bids Law of 2007 to 2022, Logicom must receive acceptances that push its total voting rights in Demetra beyond 50 per cent. If this threshold is not met, Logicom will not be permitted to accept a lower percentage of acceptances.
According to an official announcement released on Wednesday, the meeting focused on strengthening and coordinating bilateral and multilateral cooperation.
The ministers agreed to establish an inter-ministerial committee, which they will head, to facilitate the exchange of expertise on various key topics, including sustainable tourism development and the integration of artificial intelligence within the sector.
The meeting was well-attended, with figures like Costas Constantinou, director general of the Deputy Ministry of Tourism, and Vasiliki Koutsoukou, secretary general of the Greek Ministry of Tourism, contributing to the dialogue.
“The use of a ‘virtual human twin’ for medical research is an innovative, albeit not entirely new idea,” Skourides said on Wednesday.
He explained that this approach is the latest iteration, and digitally supercharged version, of the age-old practice of using diagrams and, at some point, lifelike wax models, to study the human body.
“It all might sound exotic, but it is the logical evolution of tools used for centuries by humanity to make sense of complex and fragile systems,” he noted.
He added “that Cyprus is actively involved in Europe’s efforts to make this new leap forward in medical technology”.
The Cyprus Stock Exchange (CSE) ended Wednesday, February 26, with losses.
The general Cyprus Stock Market Index stood at 227.61 points at 12:41, reflecting a drop of 0.05 per cent.
The FTSE / CySE 20 Index was at 138.06 points, representing a decrease of 0.07 per cent.
The total value of transactions came up to €171,863, until the aforementioned time during trading.
In terms of the sub-indexes, the main index rose by 0.08 per cent. The alternative, investment firm and hotel indexes fell by 0.62 per cent, 0.62 per cent and 0.11 per cent respectively.
The biggest investment interest was attracted by Woolworth Cyprus Properties (no change), the Bank of Cyprus (+0.75 per cent), Hellenic Bank (no change), Pandora (-1.27 per cent), and Demetra Holdings (-0.63 per cent).
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