Here are the top business stories in Cyprus from the week starting April 7:
However, he stressed that careful planning is required to address the high energy demands of such facilities.
In his analysis, Poullikkas explained that data centres play a crucial role in storing, processing, and managing digital information.
Speaking at the Hermes Airports conference ‘Beyond Sea and Sun’, company president Eftychios Vassilakis emphasised the critical role of air connectivity in attracting quality tourism.
As part of Aegean’s broader development strategy in Cyprus, the new direct service to Rome’s Fiumicino airport launched in April, operating three times a week during summer and continuing into the winter season.
Deputy Minister for Shipping Marina Hadjimanolis paid a visit to New York from April 3 to 5, as part of efforts to promote Cypriot shipping, according to an announcement released on Monday.
On April 4, she was among the keynote speakers at the 3rd Capital Link Cyprus Business Forum, held in cooperation with the Cyprus Shipowners’ Association and supported by the Deputy Ministry of Shipping and Invest Cyprus.
In her address, Hadjimanolis presented the advantages of the Cyprus ship registry and broader shipping cluster, while outlining the investment opportunities available to shipping companies setting up operations on the island.
Cyprus’ high-end property market experienced a significant recovery in February 2025, with the 50 largest transactions across the island totalling €64.8 million, according to a report released on Monday by real estate analytics firm Ask Wire.
The ten most expensive property transactions alone reached €36.75 million, with Limassol dominating the list by accounting for eight of the ten top deals, collectively worth €26.55 million.
The remaining two high-value transactions were recorded in Paphos, contributing a combined €10.2 million.
Speaking to newspaper Politis, the president of the Pasyxe Mountain Resorts Committee, Andreas Mandalas, said that the ongoing renovation of the landmark Berengaria Hotel has become a magnet for fresh investment, particularly in the popular villages of Platres and Kakopetria.
“There is great investment interest,” he said.
The Cypriot economy and banking sector remain resilient despite intensifying geopolitical instability and rising global trade tensions, according to Christodoulos Patsalides, governor of the Central Bank of Cyprus (CBC).
In a statement released on Monday, Patsalides highlighted the country’s solid macroeconomic performance and the strength of its financial institutions.
At the same time, he warned of growing global uncertainties and calling for prudent, forward-looking policies from both the public and financial sectors.
Schwarzwald Capital, a Cyprus-based venture capital firm with a focus on fintech and the creator economy, announced on Monday a strategic investment in Vesta, a specialist in fraud prevention and transaction guarantee solutions.
According to the announcement, “the move signals Schwarzwald Capital’s deepening commitment to safer and more efficient digital commerce”.
The company noted that Vesta, headquartered in Atlanta, Georgia, “has operated at the forefront of digital fraud prevention for nearly 30 years”.
That legacy now continues through Thomas Kazakos, who after more than thirty years leading the Cyprus Shipping Chamber, has been appointed Secretary General and CEO of the International Chamber of Shipping – the first Cypriot to take on this global role.
In an interview with CNA, Kazakos reflects on the key milestones of Cypriot shipping over the past three decades, the importance of close public-private cooperation, and the responsibilities that now lie ahead, as he represents more than 80 per cent of the world’s merchant fleet.
According to an official announcemnet, these new measures, which came into effect on March 12, 2025, “reflect the company’s commitment to fostering a human-centric and inclusive workplace”.
The policies specifically address fertility treatments, premature birth, miscarriage, and stillbirth, ensuring that both employees and their partners receive the necessary time off to cope with these challenging experiences.
The event highlighted the strategic advantages the island offers, not just as a picturesque destination but as a thriving business hub with significant tax incentives and global investment opportunities.
Key topics of the conference included business relocation, wealth management, taxation, real estate, fintech, and blockchain.
It was the strongest performance ever recorded for the January–March period, with total traffic up by 6.79 per cent year-on-year.
According to the Transport Ministry, Larnaca airport posted a 15.17 per cent increase in March, continuing the positive trend seen in 2024.
Alongside Ireland, Cyprus remains one of only two EU member countries outside the passport-free travel area.
However, president Nikos Christodoulides has made clear that the country is on track to be technically ready for accession by 2025, pointing to the broader economic gains that would follow.
Most of them will be in Nicosia and Limassol and will be offered at affordable prices, either for sale or for rent.
The announcement by Interior Minister Constantinos Ioannou during a press conference in Nicosia, he outlined the government’s latest housing plans.
The event, held at the Metropolitan Club in New York City, was sponsored by Hellenic Bank, a member of the Eurobank group.
The forum aimed to highlight the prospects of the Cypriot economy and attract foreign investment, focusing on untapped opportunities.
Uni.Fund a distinguished European investment fund that backs high-potential technology startups, with a focus on the European market.
According to the announcement, ths investment “marks a significant milestone for Bolsterup, reinforcing its mission to modernise how construction professionals showcase their work, connect with key stakeholders, and unlock new business opportunities”.
The event was mainly to strengthen ties between Cyprus and the international investment community.
Speaking to an audience of industry leaders, investors and government officials, Hajioannou showed a clear picture of Cyprus’ strategic advantages, not only in the maritime sector, but also as a competitive, reliable base for international business.
Six in ten young people in Cyprus see finding a job as their biggest challenge, while a quarter are worried about the country’s future and one in five say starting a family is a serious concern, according to a new nationwide survey.
These are the findings of the 6th Neo-Barometer, an annual survey by the Cyprus Youth Organisation (Onek), carried out on its behalf by the IMR research unit at the University of Nicosia.
The results were presented at a press conference on Wednesday. The survey was conducted using a random sampling method and included 1,000 participants aged between 14 and 35.
Job prospects dominate their concerns, with 60 per cent naming job-hunting as the most serious problem they face.
According to the company, this move “significantly enhances the terminal’s overall capability and its ability to support Cyprus’ commercial needs”.
It also said that “the project marks an important milestone in the company’s broader investment plan”.
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 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’ 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 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.
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.
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.
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.
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