The European Union has taken a significant step towards ensuring affordable, efficient, and clean energy for its citizens through its newly announced Action Plan for Affordable Energy.

The plan, revealed on February 26, 2025, by European Commission President Ursula von der Leyen, is designed to highlight the true value of the EU’s Energy Union while implementing coordinated measures to lower energy costs, attract investment, and prepare for future energy crises.

Professor Andreas Poullikkas, former Chairman of the Cyprus Energy Regulatory Authority (CERA) and current Professor of Energy Systems at Frederick University, has commented on the initiative.

He explained that the EU’s REPowerEU plan, launched in 2022 to address the energy crisis, had already strengthened the resilience of the European energy system by improving efficiency, increasing clean energy production, and diversifying energy supplies.

Out of 741 tourist units preparing to reopen in Cyprus, only 100 have secured a licence, accounting for just 13.5 per cent of the total.

According to data from the Deputy Ministry of Tourism, shared on Monday by Stockwatch, this licensing shortfall is evident across all districts.

Specifically, only 13 of 253 hotels in Famagusta are licensed, 20 out of 184 in Paphos, 26 out of 114 in Limassol, 22 out of 112 in Larnaca, and 19 out of 78 in Nicosia.

Furthermore, an additional 15 to 20 units are still in the process of obtaining licences.

The Cyprus Stock Exchange (CSE) has reaffirmed its commitment to gender equality in the workplace, announcing that women constitute 73 per cent of its workforce, with 50 per cent holding managerial positions.

In a statement, the exchange said that this “ongoing dedication to inclusivity aligns with the global initiative Ring the Bell for Gender Equality”, which promotes gender balance in corporate leadership.

In its efforts to foster a workplace that values respect and equality, the CSE said, it encourages listed companies to adopt similar principles through its corporate governance code.

The largest banks in Cyprus and Greece successfully exceeded all their financial targets for 2024, demonstrating robust profitability and strengthened balance sheets.

According to preliminary results released by the two largest Cypriot banks and the four largest Greek banks, all institutions reported solid profit growth and improved financial stability.

Net interest income, the primary source of revenue, increased at a steady rate of around 4 per cent, with Hellenic Bank standing out with a 12 per cent rise.

Eurobank Greece recorded a 15 per cent increase, attributed to the full consolidation of Hellenic Bank’s results.

The Research and Innovation Foundation (RIF) on Monday announced a new call for proposals under its Fast Track Innovation programme.

According to the announcement, the programme aims to support existing businesses that wish to invest in the development and commercialisation of innovative products and services. It has a total budget of €2 million.

“The Fast Track Innovation programme is open to businesses from all sectors that are ready to invest in the rapid development and international promotion of competitive, innovative products and services,” the foundation said.

The presidency on Monday announced that the government’s target for full employment was achieved within the first two years of its term, something it described as an important milestone.

The statement, posted on social media platform X, mentioned that there has been a drop in unemployment to 4.9 per cent in 2024, the lowest since 2008.

At the same time, there was an increase in employment rates to 79.8 per cent, the highest recorded over time.

Cyprus’ general government surplus for January 2025 stood at €566.9 million, equivalent to 1.6 per cent of GDP, according to preliminary data released on Monday by the state statistical service.

This represents an increase compared to January 2024 but a decline in relation to December 2024.

In January 2024, the surplus had reached €476.5 million or 1.4 per cent of GDP, while at the end of December 2024, it had surged to €1.5078 billion, accounting for 4.5 per cent of GDP.

The Cyprus Housing Finance Corporation (HFC) is set to proceed with the sale of non-performing loans (NPLs) worth €57 million from its total portfolio of €270 million, according to statements made before the House Finance Committee on Monday.

The announcement was made by HFC director general Christoforos Kaplanis during discussions on the organisation’s 2025 budget.

Speaking during a meeting of the committee, he clarified that the loans to be sold mainly concern primary residences valued above €250,000, as well as other housing loans that do not fall under the category of a primary residence, regardless of the outstanding amount.

Vehicle registrations in Cyprus saw a significant decrease in February 2025, with total registrations dropping 13.6 per cent to 3,757, down from 4,346 in February 2024, according to Monday’s report from the statistical service.

Passenger saloon car registrations experienced a sharper decline, falling by 15.5 per cent to 2,908 from 3,443 the previous year.

According to the report, for the January-February 2025 period, total vehicle registrations decreased by 8.8 per cent to 7,834, compared to 8,589 during the same period in 2024.

The Cyprus Stock Exchange (CSE) experienced slight setbacks on Monday.

By 12:19, the Cyprus Stock Market Index had dipped to 228.86 points, a decrease of 0.34 per cent.

The FTSE/CySE 20 Index also saw a marginal drop, falling by 0.35 per cent to 138.66 points.

The trading volume for the session amounted to €106,686.62.

Regarding individual market sectors, the main market index declined by 0.38 per cent, while the alternative market index decreased by 0.23 per cent.

The investment index saw a significant drop of 1.24 per cent. However, the hotel index remained stable, showing no change.

Prominent among Monday’s trading were the Bank of Cyprus, with transactions totalling €63,947.88, down by 0.72 per cent, and Demetra Holdings, with a decrease of 1.27 per cent to €21,790.28. Conversely, Hellenic Bank recorded a rise of 0.63 per cent, amounting to €12,904.26.

The Cement Company Vasilikos and The Cyprus Cement remained steady and declined by 1.80 per cent, with trading volumes at €3,780.00 and €3,605.44, respectively.

The day concluded with 1 stock advancing, 3 declining, and 5 remaining unchanged from a total of 24 trades executed.