The fifth edition of Tech Talks, a community-driven event inspired by Google’s original Tech Talks initiative, is set to take place on Monday, May 5, at 7pm.

Aimed at the broader technical community in Cyprus, the series seeks to explore both foundational and advanced topics in software development, while also offering space for bold, creative ideas.

The evening will open with a short gathering period, followed by two featured presentations from leading industry professionals.

DBRS Ratings (Morningstar DBRS) has upgraded the credit ratings of two major Greek banks, Eurobank S.A. and the National Bank of Greece, raising them from BBB (low) to BBB.

The Canadian ratings agency has also assigned a positive outlook to Eurobank S.A., while maintaining a stable outlook for the National Bank of Greece.

In its statement regarding Eurobank, Morningstar DBRS said the upgrade reflects the group’s improved ability to sustain enhanced profitability and a strong asset quality profile, while maintaining adequate capital buffers. This is despite its acquisition of Hellenic Bank (HB) in Cyprus.

The European Commission has proposed shortening the standard securities settlement cycle from two business days to one (T+1), something which is being seen as a significant development for European capital markets.

This move is designed to bolster post-trade efficiency, market resilience, and the global competitiveness of the EU’s financial system.

The announcement was communicated to Cyprus Investment Firms (CIFs), Alternative Investment Fund Managers, trading venues, and Central Securities Depositories through a circular issued by the Cyprus Securities and Exchange Commission (CySEC).

President Nikos Christodoulides this week presented the government’s rebranding drive during a roundtable with tech executives in San Francisco.

The event focused on Cyprus’ role as an EU member country with strong ties to its Middle Eastern neighbours.

The discussion formed part of a wider visit to the US, where the president, leading a high-level delegation, held meetings in New York, Texas and California, focusing on investment, shipping, energy and technology.

Cyprus is expected to see record tourism in Akamas this summer, thanks to a government plan aimed at tying together various development and beautification projects across the peninsula’s villages.

The initiative, announced by president Nikos Christodoulides in early 2024 and put into motion last summer, is already showing early results, with organised tour groups starting to visit the area.

Local officials believe the real benefits will become clear in the summer of 2025.

Cyprus’ cruise industry is on the path to recovery after years of disruption, according to DP World Limassol CEO Simon Pitout.

Pitout on Thursday said the sector is set to see a strong rebound in 2025 thanks to increased ship calls, new investments and a forthcoming national cruise tourism strategy.

He explained that the cruise industry, once a vibrant part of Cyprus’ tourism offering, was severely hit by the Covid-19 pandemic and more recently by geopolitical unrest in the region.

The value of bounced cheques in Cyprus rose to €156,564 in the first quarter of 2025, according to data published on Thursday by the Central Bank of Cyprus (CBC).

The CBC noted that this marks a 35 per cent increase when compared with the same period in 2024.

A total of 61 cheques were reported between January and March this year, down from 76 in the first quarter of 2024, when the total value stood at €115,375.

Limassol recorded €1.38 billion in residential property transactions in 2024, with a total of 3,164 sales across all price categories.

The figures reflect activity across high-value, mid-range and lower-priced properties, according to land registry data, analysed by Ask Wire, a Cypriot real estate data analytics firm.

High-value sales continued to play a significant role. Although properties priced above €1 million accounted for just 8 per cent of all transactions, they represented 32 per cent of the total value, at €441 million.

Banks in Cyprus reduced interest rates on housing loans in February, according to comparative figures published by the Central Bank of Cyprus on Thursday.

At the same time, most institutions also slightly lowered the interest paid on term deposits.

However, despite these reductions, lending rates for households and businesses in Cyprus remain significantly higher than those in the eurozone.

Cyprus is facing a period of growing uncertainty, as investment activity is likely to be affected by the US government’s decision to impose import tariffs, said Andreas Andreou, deputy secretary general of the Cyprus Chamber of Commerce and Industry (Keve).

Andreou told CNA on Thursday that while the island is not directly affected by the US measures, the knock-on effects, mainly through the European Union, could create indirect pressure on sectors such as tourism and the general cost of living. 

“We are monitoring the situation very closely,” he said.

The Cyprus Stock Exchange (CSE) moved higher on Thursday at midday, with the general index rising 1.90 per cent to 227.49 points by 12:49.

The FTSE/CySE 20 Index also gained 1.81 per cent, reaching 137.60 points, while the value of transactions amounted to €662,948.

Among the sub-indices, the main market advanced 2.40 per cent. In contrast, the alternative market slipped 0.27 per cent and the investment market edged down 0.32 per cent, while the hotel sector remained unchanged.

Bank of Cyprus led trading with €580,511 and a 7.39 per cent rise, followed by Hellenic Bank (€36,233, down 0.21 per cent), Demetra Investment (€18,101, down 0.31 per cent), Logicom (€13,375, up 0.57 per cent), and Atlantic Insurance (€9,600, down 7.69 per cent).

At that time, 8 stocks were up, 6 down, and 1 unchanged, with 119 transactions recorded.