Specifically, Interior Minister Konstantinos Ioannou outlined a series of policy changes during this year’s edition of the Property Development & Construction conference.
These policy changes focus on facilitating residential developments and easing housing market pressures.
Ioannou stated that the government will introduce a measure to reduce the minimum allowable apartment size by 15 per cent across all types of residential units in zones designated for housing development.
This move is intended to increase the number of apartments that can be built within the same plot, contributing to a higher supply of housing units and addressing citizens’ housing needs.
The minister also announced that the government will propose the abolition of m
In addition, the index rose rose by 0.3 per cent when compared to January of the same year.
Compared to February 2024, the largest price increases were recorded in the categories of recreation and culture, which saw a rise of 7.2 per cent, and restaurants and hotels, which increased by 4.7 per cent.
In contrast, the category of clothing and footwear experienced the most significant decline, dropping by 4.9 per cent.
Hellenic Bank is advancing on two major integration fronts, preparing for a dual merger process that will consolidate both its banking and insurance operations.
The bank’s banking sector is set to merge with Eurobank, while its insurance division will integrate with CNP Cyprus Insurance Holdings.
During a briefing with journalists at the bank’s headquarters in Nicosia, Hellenic Bank chief executive officer Michalis Louis confirmed that the transaction with CNP had received approval from the Greek supervisory authority.
He added that final approval from the French supervisory authority was expected within the coming weeks.
Once the necessary approvals are secured, the integration of the insurance business will proceed in two phases.
Specifically, Elena Karkoti, a senior officer at CySEC responsible for financial literacy initiatives, explained that “while the digital financial environment offers new opportunities, it also presents significant risks that require awareness and vigilance”.
“The modern financial environment demands knowledge, critical thinking, and continuous awareness,” Karkoti stated.
As part of its investor education strategy, CySEC designs and implements various initiatives to inform and protect investors from risks and pitfalls in the digital financial landscape.
“CySEC does not limit its role to regulation and oversight but actively engages in financial education, ensuring that investors have the tools to make informed decisions,” she added.
This reduction, executed on March 18, 2025 and disclosed on March 19, leaves CarVal holding 440,224,067 shares in the bank.
This move aligns with a broader trend observed among major investment funds adjusting their positions in the Bank of Cyprus.
Notably, Caius Capital LLP, which became a significant shareholder in 2019 with a 9.58 per cent stake, has been gradually divesting since 2021.
The Oev delegation was led by its president Antonis Antoniou, and director general Michalis Antoniou.
Representing Cyprus at the summit, as the country prepares to assume the EU Presidency in the first half of 2026, was the Labour Minister Yiannis Panayiotou.
The summit, titled “Bringing Europe back on track in a challenging geopolitical environment as an attractive, competitive and investment-friendly location that protects and creates quality jobs,” was attended by key European leaders.
These included European Commission president Ursula von der Leyen, European Council president António Costa, and Poland’s Minister for the European Union, Adam Szłapka, who was also representing the current EU Presidency.
These proposals were submitted to Finance Minister Makis Keravnos and Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou.
These proposals, the association explained, seek amendments to the income tax law for innovative enterprises, and are accompanied by various recommendations for consideration in the upcoming tax reform.
The deadline for submitting recommendations under the tax reform framework expires on Friday, March 21.
A roundtable discussion, moderated by Yiannis Misirlis, president of the Cyprus Property Developers Association, brought together key industry figures to assess the reform’s implementation a year after its rollout.
Constantinos Yorkadjis, now president of the Nicosia EOA emphasised that the reform is necessary and has a future, arguing that it will lead to better conditions than in the past.
He emphasised the consolidation of eleven local authorities into one, noting that progress in issuing permits in Nicosia has been significant each month.
He also pointed to the Ippodamos system, acknowledging its initial shortcomings but stating that it is now operating more efficiently than when it was first introduced.
The Cyprus Stock Exchange (CSE) council has officially ratified the decision to suspend trading of shares belonging to Salamis Tours (Holdings) Public Ltd.
This decision, taken under Article 184 of the CSE Law, was confirmed during a recent meeting of the council and follows an earlier announcement made on March 14, 2025.
The suspension of trading will remain in effect until May 21, 2025, inclusive.
The Cyprus Stock Exchange (CSE) registered a notable gain on Thursday, pushing the general index up by 1.84 per cent to 240.65 points as of 13:12.
The FTSE/CySE 20 index closely followed, showing an increase of 1.83 per cent, reaching 146.10 points.
Transaction activity was robust, with the total value hitting €800,198 for the day.
Sector performance varied, with the Investment sector leading the gains, up by 3.29 per cent.
The main market also rose by 1.85 per cent, and the alternative sector increased by 2.13 per cent, while the hotels index remained unchanged.
Key stocks showed mixed activity; Bank of Cyprus was a major focus, up 2.36 per cent with trades worth €492,459.
Hellenic Bank remained unchanged, recording trades of €161,670. Demetra Holdings saw a significant rise of 3.34 per cent, while Woolworth and CTC had notable increases of 9.09 per cent and 18.35 per cent, respectively.
By the session’s close, market movements were positive overall, with seven stocks advancing, two declining, and five unchanged, from a total of 178 trades.
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