The Cyprus Investment Funds Association (CIFA) held its Annual General Meeting (AGM) this week, presenting a comprehensive review of the sector’s achievements and outlining strategic priorities for continued growth and competitiveness.

In her address, CIFA president Maria Panayiotou attributed the current momentum in the investment funds sector to “vision, consistency and collaboration”.

She reported that assets under management in Cyprus have now surpassed €9 billion, with more than 330 licensed investment entities operating in the country.

She described these figures as “clear indicators of growing confidence in Cyprus’ professional and regulatory ecosystem“.

The Bank of Cyprus (BoC) on Friday announced the repurchase of 520,200 of its own ordinary shares between April 4 and April 10, 2025, as part of its ongoing share buyback programme.

The transactions were executed on both the Cyprus Stock Exchange (CSE) and the Athens Stock Exchange (ATHEX) through the company’s broker, the Cyprus Investment and Securities Corporation Limited (CISCO).

According to the announcement, 84,200 shares were acquired on the CSE and 436,000 on the ATHEX.

The highest price paid per share reached €5.58 on the CSE and €5.60 on the ATHEX, while the lowest prices recorded were €5.08 and €4.98 respectively.

President Nikos Christodoulides on Friday firmly defended the outcome of his recent visit to the United States, saying he is “completely satisfied” with the results and highlighting growing international interest in investing in Cyprus.

The president addressed media questions over reports suggesting his US visit had not yielded the impact he had hoped for. He dismissed those claims, stating the trip had delivered “concrete outcomes” which had already been publicly announced.

“There was strong interest in our country during our meetings across three US states,” President Christodoulides said.

“The results are not only measurable, but announcements have already been made about new investments. More are expected in the coming period.”

According to the president, discussions in the US reflected that this was an ideal window to promote Cyprus as an investment destination.

Cyprus is stepping up efforts to attract more visitors from Poland, with the Famagusta regional tourism board (Etap) teaming up with local hotels for a roadshow across Krakow, Poznan and Warsaw this week.

Held between April 7-11, the roadshow was organised by the Deputy Ministry of Tourism and aims to strengthen ties with Polish tour operators, promoting both Cyprus and the Famagusta area as year-round destinations.

For the board, the focus is clear. To showcase the district’s unique blend of experiences, from award-winning beaches and traditional gastronomy to nature trails, diving spots and inland villages offering a taste of authentic Cypriot life.

It’s the third visit to Poland by Famagusta representatives in the past 12 months, following a familiarisation trip last October when Polish travel professionals were hosted in Cyprus for a first-hand look at the region.

Cyprus’ government workforce increased by 574 people in March 2025, marking a one per cent annual rise and bringing the total number of employees to 55,325, according to the state statistical service.

The growth was primarily driven by the educational service, which recorded a 3.8 per cent increase in staff compared to March 2024.

In contrast, employment in the security forces declined by 0.7 per cent, while the civil service workforce remained unchanged.

During the first quarter of 2025, average total government employment also rose by one per cent year-on-year.

Eurobank on Friday announced the successful completion of its mandatory public offer to acquire Hellenic Bank, increasing its direct ownership stake to 98.46 per cent of the bank’s issued share capital.

The public offer, which concluded on April 9, 2025, resulted in the acquisition of an additional 4.99 per cent of Hellenic Bank shares, adding to the 93.47 per cent already held by Eurobank prior to the offer.

According to the announcement, the bank intends to proceed with the exercise of its squeeze-out right within three months, thereby acquiring 100 per cent of Hellenic Bank’s shares at a consideration of €4.843 per share.

In a stirring speech at the Stelios Bi-Communal Business Cooperation Awards on Friday, President Nikos Christodoulides praised Cypriot entrepreneurs for showing that peace and partnership are not only possible, but already happening.

The president spoke at the Stelios Philanthropic Foundation headquarters in Nicosia, where he honoured Greek Cypriot and Turkish Cypriot business partners working together across the divide.

“These awards are a symbol of hope,” he said.

“A clear testament that, together, we can build a better future for Cyprus.”

Now in its 15th year, the awards scheme has supported hundreds of business partnerships across the island’s divide. This year, 20 joint ventures will each receive €20,500, totalling €410,000 in prize money. Since its launch, the initiative has distributed €4.8 million to bi-communal efforts.

The Gold Award, worth €100,000, was presented to Andreas Andreou and Emre Serdar of Slimline Frame, a company exporting aluminium facades, doors and windows.

Limassol Greens, a €400 million residential and tourism development, is gearing up for property handovers and expansion plans within 2025.

Described as “a project driven by vision, innovation and clear strategic direction,” by CEO Demos Panayiotou, Limassol Greens aims to become a “fully integrated and sustainable destination, blending premium living, technology, and nature within easy reach of Limassol’s vibrant centre”.

According to a briefing provided to the media, construction began in 2021, and the development has seen steady progress.

Major infrastructure, including the internal road network, has already been completed, and the first handovers of residential properties are scheduled to commence in May of this year.

Central to the project is an 18-hole golf course, the first of its kind within Limassol’s city limits.

Designed by architect Cabell Robinson, the over 6,300-metre course is now in its final construction phase.

Jinius, the innovative digital platform and subsidiary of the Bank of Cyprus Group, has announced its full support for the government’s initiative to adopt electronic invoicing, positioning itself as a key partner in Cyprus’ broader efforts to digitise its economy.

The platform is now offering all businesses the ability to send invoices to the government easily and quickly through its Invoice Management Service.

A press conference titled “Electronic invoicing in transactions with the public sector” was held by the Deputy Minister of Research, Innovation and Digital Policy, Dr Nicodemos Damianou, and the Accountant General of the Republic, Andreas Antoniades.

The event highlighted the actions being taken to promote the widespread use of electronic invoicing in public sector dealings.

During the event, Antoniades stressed the importance of this shift: “The promotion of electronic invoicing is essential for reducing bureaucracy, improving the security of transactions, and ensuring better management of public resources.”