The outlook for Cyprus’ tourism sector appears slightly brighter this year, with early bookings for the first half of 2025 showing a better trend than the same period in 2024, according to president of the Cyprus Hoteliers Association (Pasyxe) Thanos Michaelides

Speaking to the Cyprus News Agency (CNA), Michaelides said the flow of reservations so far is “satisfactory” and, if it continues, 2025 could see a modest improvement in performance compared to last year.

“Although we are cautiously optimistic, we must also be prepared for any changes,” he said, citing ongoing volatility in the global economy that may impact key markets such as the United Kingdom.

The Bank of Cyprus announced on Thursday that it repurchased a total of 281,147 of its ordinary shares between April 11 and April 16, 2025, as part of its ongoing €30 million share buyback programme.

The shares, each with a nominal value of €0.10, were acquired on both the Cyprus Stock Exchange (CSE) and the Main Market of the Regulated Securities Market of the Athens Stock Exchange (ATHEX).

The transactions were carried out through the company’s appointed broker, the Cyprus Investment and Securities Corporation Limited (CISCO).

Demetra Holdings on Thursday reported robust financial results for the year ending December 31, 2024, with net profit for the group reaching €132.46 million, corresponding to 66.23 cents per share.

This marks a substantial increase from €86.23 million (43.12 cents per share) in 2023.

The company attributed this performance largely to gains from its investment in Hellenic Bank and significant equity market returns.

The Cyprus Securities and Exchange Commission (CySEC) this week issued a strong warning to investors regarding a number of unauthorised websites that are not licensed to offer investment services or activities in the Republic of Cyprus.

According to CySEC, the following websites are not linked to any entity that has been granted authorisation under Article 5 of Law 87(I)/2017 for the provision of investment services and/or the performance of investment activities: enfodns.com, ca-xe.pro, kamislaran.com, heromarkets-it.com, itradingfx.net, prestigepeakcapital.com, gomarketfx.com, and coreinvests.eu.

In its statement, the regulator urged investors to exercise caution and consult the official CySEC website at www.cysec.gov.cy before engaging in any transactions with investment firms.

The real estate sector remains resilient amid escalating global trade tensions and the onset of a trade war, according to Andreas Christophorides, CEO of Landbank Group.

As uncertainty spreads across the global economy, he noted that while stock markets have been hit hard, real estate has remained relatively steady and shows no major short-term risks. 

In his view, it is important to understand both the challenges and the opportunities that may emerge in this environment.

Former Shipping Deputy Minister Vasilis Demetriades has been elected president of the Cyprus International Business Association (CIBA), during its general assembly held in Limassol this week.

According to a statement from the association, the event was attended by House president Annita Demetriou and the Minister of Energy, George Papanastasiou, representing the President, Nikos Christodoulides. 

In his address, Demetriades laid out his vision for the future of CIBA, placing emphasis on stronger engagement from members and more active involvement in shaping EU policy.

The Association of Large Investment Projects recently held a meeting with the Honorary Consul of Cambodia in Cyprus Salah Essa.

According to an announcement released on Thursday, the meeting formed part of the association’s strategy to strengthen international cooperation and attract foreign investment.

The meeting took place at the headquarters of the Cyprus Chamber of Commerce and Industry (Keve), which the association operates under the auspices of, in the presence of the association’s president Andreas Demetriades.

The Cyprus Securities and Exchange Commission (CySEC) has announced regulatory action against members of the board of Itrade Global (Cy) Ltd, following findings of non-compliance with the Investment Services and Activities and Regulated Markets Law of 2017.

The financial regulator revealed that it had previously imposed an administrative fine on the company for breaches of the law, as set out in a decision dated April 3, 2023.

Subsequently, CySEC examined the conduct of the company’s board of directors during the relevant period and concluded that several directors failed to fulfil critical obligations under the law.

A Cypriot proptech firm is giving the public a chance to buy in, launching its first-ever crowdfunding campaign to support its expansion.

Ask Wire, which specialises in real estate data and analytics, is offering shares through the Crowdbase platform, with participation starting at €120.

According to the announcement, it is one of the first local tech companies to turn to crowdfunding, aiming to involve the public more directly in its growth.

The Cyprus Stock Exchange (CSE) edged lower on Thursday at midday, with the general index slipping 0.50 per cent to 229.37 points by 12:51.

The FTSE/CySE 20 Index dropped 0.39 per cent, reaching 138.92 points, while the value of transactions amounted to €256,138.

Among the sub-indices, the main market fell by 0.62 per cent and the investment market by 1.79 per cent. In contrast, the alternative market rose slightly by 0.04 per cent, while the hotel sector advanced 0.93 per cent.

Bank of Cyprus led trading with €127,686 and a 1.45 per cent decline, followed by Logicom (€74,973, up 2.22 per cent), Demetra Investment (€39,782, down 0.30 per cent), Vasiliko Cement (€5,590, up 1.08 per cent), and Hellenic Bank (€3,917, up 0.21 per cent).

At that time, 9 stocks were up, 5 down, and 2 unchanged, with 88 transactions recorded.