Cyprus recorded a general government surplus of €580.6 million in the first quarter of 2025, according to preliminary data published by the Cyprus Statistical Service (Cystat) on Friday.

The surplus represents 1.6 per cent of GDP and marks a slight increase from the €575.7 million surplus (1.7 per cent of GDP) recorded during the same period in 2024.

Total government revenue for January to March 2025 rose to €3.62 billion, an increase of €214.5 million or 6.3 per cent compared to the same period in 2024.

This growth was driven by several key areas, including a 10.5 per cent rise in social contributions, which reached €1.16 billion, and a 29.1 per cent increase in sales of goods and services, totalling €280.5 million.

Bank of Cyprus Holdings Public Limited Company on Friday announced the repurchase of 295,526 of its own ordinary shares between April 25, 2025, and May 1, 2025.

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).

According to the announcement, 60,526 shares were purchased on the Cyprus Stock Exchange and 235,000 on the Athens Stock Exchange.

In a separate announcement on the CSE, the bank stated that, as of April 30, 2025, the total issued share capital of Bank of Cyprus Holdings Public Limited Company stood at 440,820,060 ordinary shares of nominal value €0.10 each, with each share carrying one vote.

The company held 3,052,027 ordinary shares in treasury as of that date. These shares, it added, are pending cancellation and do not carry voting rights. Accordingly, the total number of voting rights in the company as of April 30, 2025 is 437,768,033.

The Cyprus Securities and Exchange Commission (CySEC) has reached a €20,000 settlement with ZFN Europe Ltd in relation to a possible violation of the Investment Services and Activities and Regulated Markets Law of 2017.

According to CySEC, the settlement was made under article 37(4) of the Cyprus Securities and Exchange Commission Law of 2009, as amended.

This article gives CySEC the authority to settle any violation or possible violation, act or omission, when there are reasonable grounds to believe it occurred in breach of the legislation CySEC oversees.

Cyprus recorded €92.7 million in high-value property transactions in March 2025, with Nicosia taking the lead thanks to a single €29.3 million office sale, according to real estate analytics firm Ask Wire.

According to a report released on Friday, the 50 most valuable transactions nationwide marked a 43 per cent increase compared to February 2025, underlining a strong rebound in property market activity.

Nicosia dominated the top-end of the market, accounting for €45.5 million in sales, corresponding to 49 per cent of the national total.

The standout transaction, a €29.3 million sale of office space in Agioi Omologites, alone contributed 64.4 per cent of the district’s top ten transaction value.

Larnaca followed with €17.4 million in high-value transactions, representing 18.8 per cent of the national figure and surpassing Limassol, which recorded €16.2 million or 17.5 per cent.

The Central Bank of Cyprus (CBC) on Friday announced the publication of its 2025 directive on the prevention of money laundering and terrorist financing.

The newly adopted directive aims to modernise and reinforce the compliance framework for banks and other obligated entities.

Moreover, the directive, which comes into effect on June 2, 2025, also seeks to assist citizens and businesses in their interactions with the financial sector.

“The strictness of the directive remains unchanged,” the CBC stressed, reaffirming its focus on preserving and further enhancing the credibility of Cyprus’ financial system, which is closely linked to ensuring overall financial stability.

At the same time, the directive introduces measures to ensure that banks and other obligated entities adopt policies that avoid unjustified denial or delay in lawful access to financial services.

The Research and Innovation Foundation (RIF) on Friday announced the launch of a public consultation for its upcoming funding programme titled “AI in Gov’t”.

According to the announcement, the initiative aims to support the development of innovative artificial intelligence (AI) solutions tailored to address challenges faced by public sector entities.

The RIF is seeking input from all interested stakeholders to help shape the design of the programme.

Detailed information about the proposed funding scheme is available online, and stakeholders are invited to review the material and submit their feedback and suggestions. The deadline for submissions is Wednesday, May 14, 2025, at 13:00.

The Cyprus Chamber of Commerce and Industry (Keve), in collaboration with the embassy of Hungary in Cyprus, will host a business-to-business (B2B) event highlighting innovative Hungarian technologies in agriculture and industry.

The event, titled “Hungarian Smart & Sustainable Solutions for Agriculture and Industry with Drone Live Presentation”, will take place on Wednesday, May 14, 2025 at 09:00 at the KEAN Factory, located at 35 Promachon Eleftherias, 4103 Agios Athanasios, Limassol.

According to Keve, the event will spotlight Hungarian smart and sustainable solutions specifically designed for the agricultural and industrial sectors.

It also mentioned that a live demonstration of “cutting-edge, heavy-duty” action drone technologies will be a central feature of the event.

These advanced drones are capable of precision seeding, targeted spraying, and offering multifunctional applications for agricultural and industrial use.

Cyprus’ retail trade sector saw robust growth in March 2025, with both the value and volume of turnover rising by 5.6 per cent compared to the same month last year.

According to data released by the Cyprus Statistical Service (Cystat), the Turnover Value Index of Retail Trade, excluding motor vehicles, increased by 5.6 per cent in March 2025 on an annual basis.

The Turnover Volume Index of Retail Trade, which measures changes in the quantity of goods sold after excluding price effects, also recorded a 5.6 per cent year-on-year increase for the same month.

The figures indicate steady consumer activity and suggest a continuing recovery or expansion in the retail sector.