The Mall of Cyprus (MC) Plc this week reported a strong financial performance for the year ended December 31, 2024, with net profit after tax reaching €10.46 million, up from €9.67 million in 2023.

The company, which manages the Shacolas Emporium Park, recorded revenue of €19.57 million for the year, compared to €18.83 million the previous year.

Operating profit surged to €18.32 million from €15.75 million, reflecting what the board of directors called a “compelling narrative of growth and adaptability.”

Italian energy company Eni on Thursday described the two agreements signed by Cyprus and Egypt earlier this year concerning the exploitation of natural gas resources under the seabed in the eastern Mediterranean as “historic”.

“A historic agreement was signed with Cyprus and Egypt for the exploitation of the significant natural gas deposits in the Kronos reservoir in Block Six of Cyprus’ Exclusive Economic Zone (EEZ),” the company reported in the publication of its financial results for the first quarter of the year.

It added that the natural gas found in the reservoir will be exported to the European market, “leveraging Eni’s assets and liquefied natural gas capacity in Egypt”.

Maritime firm Safe Bulkers, led by Cypriot shipowner Polys Hajioannou, recently took delivery of the 82,000 dwt Kamsarmax-class bulk carrier ‘EFROSSINI’, built by Japan’s Oshima Shipbuilding.

The vessel, which flies the Cypriot flag, is the 47th ship in the company’s fleet.

According to the announcement released on Thursday, the New York-listed company confirmed that six more vessels are currently under construction, reinforcing its trust in Japanese shipbuilding expertise and long-standing collaboration with Oshima. 

The Cyprus Stock Exchange (CSE) has officially announced the admission of a new issue of government treasury bills, in accordance with Article 58(1) of the Cyprus Securities and Stock Exchange Law.

Specifically, the CSE has accepted the listing of 25,000 thirteen-week Treasury Bills of the 4th Issue, Series 2025 (April 25, 2025 – July 25, 2025), each with a nominal value of €1,000.

The total value of the issue stands at €25 million. These securities resulted from an auction held on April 16, 2025.

Greek shipping executives continue to set the global benchmark for maritime expertise, a reputation that sees international organisations consistently turning to them for leadership.

One of the latest examples is George Teriakidis, recently appointed regional manager for Southeast Europe at DNV Maritime, the Norwegian classification society with its strong base in Piraeus and deepening ties with Cyprus, especially in Limassol.

The Mall of Engomi (ME) Plc has reported a robust financial turnaround for the year ended December 31, 2024, recording a profit after tax of €1.13 million, a sharp reversal from the €347,635 loss posted in 2023.

The company’s revenue rose to €4.04 million, up from €3.82 million in the previous year, driven by increased footfall and a strong retail performance among its licensees.

The company, which operates the popular shopping centre in Engomi, Nicosia, maintained its principal activity of granting rights of use for retail and commercial purposes.

Cyprus-based Municorn, a software company in Limassol, has claimed the top spot in Deloitte’s Technology Fast 50 Middle East and Cyprus rankings, with an extraordinary revenue growth rate of 20,164 per cent over the past four years.

The company’s performance highlights the increasing prominence of Cyprus within the region’s technology and innovation ecosystem.

The fourth edition of Deloitte’s Fast 50 programme saw a record-breaking 200-plus applications from across the Middle East and Cyprus, underlining growing maturity and engagement in the regional start-up landscape.

Limassol hosts 57 active agrotourism businesses offering quality stays in traditional and character-filled properties, according to Annita Dimitriadou, president of the Cyprus Agrotourism Company (Kea).

Speaking to the Limassol Chamber of Commerce and Industry (Evel), Dimitriadou said these businesses bring real value to Limassol’s tourism product, investing in traditional hospitality and the natural landscape.

Of the 57 businesses, 35 are Kea members. Eighteen offer accommodation, several operate more than one unit, while 17 provide related activities such as cultural experiences, nature-based excursions, or hands-on workshops.

The Paphos regional tourism board (Etap) announced this week that it is reviving its free guided tours to the Akamas communities over the next two months, aiming to highlight local points of interest and boost visits to the area.

According to the announcement, the initiative, supported by the Deputy Ministry of Tourism, forms part of a broader support programme for Akamas communities announced by president Nikos Christodoulides.

The board stated that the tours will take place every Saturday throughout May and June 2025.

Cyprus has signed an agreement with the Kingdom of the Netherlands to eliminate double taxation concerning Curacao, according to an official announcement released on Thursday.

The announcement mentioned that the agreement aims to improve transparency, strengthen economic cooperation, and facilitate cross-border business activities.

The agreement was signed on April 23 in Washington, D.C., following negotiations concluded in September 2024.

The Association of Cyprus Electronic Money and Payment Institutions (ACEMPI), part of the Cyprus Chamber of Commerce and Industry (Keve), held its annual general meeting earlier this month in Nicosia.

According to an announcement issued on Thursday, ACEMPI chairman Ioannis Georgoulas delivered a detailed review of the association’s activities over the past year and outlined strategic priorities for 2025.

Moreover, he underlined the importance of ACEMPI’s consistent presence in public dialogue and its growing engagement with regulators.

Cyprus’ Construction Materials Price Index rose by 1.09 per cent year-on-year during the first quarter of 2025, according to data released on Thursday by the Cyprus Statistical Service (Cystat).

The index reached 118.81 units in March, with 2021 as the base year set at 100 points, reflecting a monthly increase of 0.2 per cent compared to February.

Looking at quarterly trends, the largest increases were observed in mineral products—such as cement and ceramics, which rose by 2.8 per cent, and in minerals, which were up by 2.6 per cent over the same period last year.