Cyta secured four gold and one bronze award at the Cyprus Technology Awards 2024, earning recognition for projects that enhance digital accessibility, sustainability, and user experience across the country.

The gold awards acknowledged key initiatives including the full population coverage of Cyta’s 5G network, the modernisation of its mobile network infrastructure, the launch of the eSIM OneNumber service allowing seamless connectivity across multiple devices, and the i-Solar project aimed at integrating renewable energy sources into base stations.

A bronze award was also granted to the Internet Small Business service, which ensures reliable and uninterrupted internet access for small businesses through automatic mobile network backup.

“These distinctions belong to our teams who work with consistency and a high sense of responsibility,” said Georgios Malikides, chief technology and informatics officer at Cyta.

Cyprus has taken a significant step in strengthening its regulatory framework for investment funds, following the House of Representatives’ approval of the Investment Fund Administrators Law.

The move is being hailed by the Cyprus Investment Funds Association (CIFA) as a milestone for the sector and a crucial pillar in enhancing investor protection, transparency and regulatory clarity.

The legislation, which formalises the framework for fund administration, is expected to support the ongoing expansion of Cyprus as a competitive jurisdiction for international fund managers.

CIFA expressed its gratitude to Members of Parliament, particularly the Standing Committee on Financial and Budgetary Affairs, as well as the Ministry of Finance, the Cyprus Securities and Exchange Commission (CySEC), the Law Office of the Republic and Invest Cyprus for their collaboration throughout the legislative process.

Retail turnover in Cyprus rose by 6.3 per cent in April 2025, marking the fastest monthly increase so far this year, according to data published by the Statistical Service on Monday.
Earlier in the year, the annual increase stood at 2.6 per cent in January, 4.7 per cent in February and 5.6 per cent in March.

In April, the strongest annual growth was seen in non-store retail trade, which jumped by 16.3 per cent.
Meanwhile, turnover in flowers, plants, watches, jewellery, optical goods and second-hand items rose by 12.7 per cent, while clothing and footwear sales climbed by 12.2 per cent.
Double-digit growth was also recorded in food, beverages and tobacco sold in specialised stores, up by 10.8 per cent.

In addition, sales of information and communication equipment increased by 7.9 per cent, while turnover in non-specialised food retail, including supermarkets, rose by 7.5 per cent.
Pharmaceuticals, cosmetics and orthopedic goods posted a smaller annual increase of 4 per cent, followed by motor fuels at 3.1 per cent.

The Research and Innovation Foundation (RIF) has launched two new funding calls, Seed and Innovate, targeted at boosting the growth of startups and supporting existing firms in scaling their products and services for global markets.

The combined budget for the two calls stands at €6.2 million.

The Innovate programme, with a total allocation of €3.2m, is designed for businesses already operating in the market.

It offers up to €1m per project to support product development, optimisation, commercial production, and international expansion.

Bank of Cyprus announced on Monday that its total issued share capital stood at 440,828,633 ordinary shares of nominal value €0.10 each as of May 31, 2025, “with each ordinary share carrying one vote.”

According to the announcement, “the company holds 4,593,842 ordinary shares as treasury shares, pending cancellation which shall take place at the end of the programme.”

It is noted that treasury shares do not carry voting rights, bringing the “total number of voting rights in the company” to 436,234,791.