The Ygia Group this week announced that it has completed the acquisition of Eden Medical Center, making it the largest private provider of inpatient care in Cyprus, with more than 270 beds.

The Ygia hospital, which is already the largest private hospital in Cyprus and fully integrated into the General Healthcare System (GeSY), announced the deal’s completion following all necessary approvals from the Commission for the Protection of Competition.

The Eden Medical Center in Larnaca was founded in 2018. Its rehabilitation services are designed for individuals recovering from injuries or living with disabilities, neurological disorders, post-operative conditions, respiratory and cardiac problems, or other issues requiring support to restore, improve, or maintain function and quality of life.

Limassol continues to dominate the Cyprus rental market with the highest average asking rent at €3,057 per month in July 2025, while Larnaca offers the most affordable options at €1,277, according to a report from Landbank Analytics.

The report also shows that apartment availability across the island has fallen sharply, with only 1,390 units listed for rent compared to 3,257 in January.

Andreas Christophorides, CEO of Landbank Group, said the analysis highlights notable regional differences in both supply and pricing, noting that July falls within the peak rental demand period, which explains the reduced number of listings across Cyprus, “just 1,390 available apartments,” as he put it.

The recently enacted law helping ‘trapped buyers’ to get a title deed “restores people’s confidence and safeguards the fundamental right to property”, the borrowers association said on Tuesday.

The association – known as Syprodat – noted that the change in the law affects 9,497 property buyers in total, of whom 4,080 already have a title deed while 5,417 await the completion of the process.

In late June parliament tweaked the law, aiming to help thousands of ‘trapped buyers’ acquire a title deed on their property which they have paid for in full.

The matter concerns thousands of people who had paid for their properties in full but had not been issued with their title deeds because the developers had mortgages on the properties.

As Cyprus moves to close its institutional gap and align with the EU framework for Foreign Direct Investment (FDI) screening, shipping industry leaders are calling for a balanced approach that safeguards national security while preserving competitiveness.

“Cyprus shipping is a pillar of the economy and one of the most internationalised and competitive sectors,” said Sophoclis Constantinou, debuty director general and legal affairs manager of the Cyprus Shipping Chamber (CSC).

Speaking to Economy Today, he emphasised the need for “targeted regulation, flexibility and adaptation to the specificities of the sector” to ensure Cyprus continues to thrive as an attractive global shipping centre.

While the Chamber supports the inclusion of shipping within the FDI screening framework, it insists this must be under certain conditions.

“These are the conditions that will improve the legislative framework for the screening mechanism, which will work positively and not deterrently in attracting investments,” Constantinou explained.

The Cyprus Stock Exchange (CSE) has announced the reinstatement of Unifast Finance & Investments Public Company Ltd shares from the Surveillance Market to the Alternative Market.

The decision was made following the publication of the company’s Annual Financial Report for the year ended December 31, 2024.

According to an official announcement from the stock exchange, the original reason for transferring the shares to the Surveillance Market no longer applies.

The Cyprus Cement Public Company Ltd on Tuesday announced the repurchase of 2,500 of its own shares, in accordance with the decision taken at its Extraordinary General Meeting of shareholders held on June 26, 2025.

According to a filing on the Cyprus Stock Exchange (CSE), the transaction was carried out on July 14, 2025, through ProChoice Chrimatistiriaki Ltd, a regulated investment firm.

The company confirmed that the shares were acquired at a price of 1.05 euro cents per share, for a total value of €2,625.

The buyback was conducted under Article 57A of the Companies Law, Cap. 113, and in line with the relevant regulations of the CSE and circulars issued by the Cyprus Securities and Exchange Commission (CySEC).

What is more, it should be noted that the shares are listed on the Regulated Market of the CSE under the ticker code for The Cyprus Cement Public Company Ltd.

The labour dispute in Cyprus’ hotel industry may take a decisive turn today, as employers and unions remain at odds over the collective agreement signed in December 2024.

The two sides are locked in a stand-off over how the agreement’s provisions should be applied.

Unions accuse some employers of failing to comply, while employers counter that the disputed issues are not clearly defined in the agreement.

Labour Minister Yiannis Panayiotou will meet employer representatives this afternoon to seek clarifications and defuse tensions.

Thanos Michaelides, president of the hoteliers association (Pasyxe), called for a stronger push into new tourism markets, as the United Kingdom, Israel and Poland together accounted for 53 per cent of all arrivals in 2024.

Presenting data from the statistical service (Cystat) during a Pasyxe meeting, Michaelides said the UK led with 34 per cent of arrivals, followed by Israel at 11 per cent and Poland at 8 per cent.

He described Poland as “a success story” and stressed that stakeholders should replicate this approach elsewhere in order to diversify Cyprus’ tourism base. 

Turning to Germany, he pointed out the country’s untapped potential, noting that 77 per cent of its population, around 50 million people, travelled abroad in 2023.

Cyprus-based game developer and publisher GDEV was included in the latest Drake Star Global Gaming Report for the second quarter of 2025, with valuation metrics that signal stability and strong fundamentals despite recent market volatility.

As of December 31, 2024, GDEV shares were trading at $15.06, giving the company a market capitalisation of $273.4 million and an enterprise value of $135.6 million.

Its last twelve months (LTM) revenue stood at $420.9 million, with LTM EBITDA of $45.1 million.

This translates to an enterprise value-to-revenue multiple of 0.3x for both LTM and next twelve months (NTM), while the EV/EBITDA multiple was 3.5x for LTM and 3.1x for NTM.

The company posted modest but positive EBITDA growth of 4 per cent for both the LTM and expected NTM periods.

The Research and Innovation Foundation (RIF) has opened nominations for the 2025 Cyprus Research Awards, marking the 18th consecutive year of honouring young and distinguished scientists in Cyprus.

The awards aim to promote excellence and encourage the expansion of research and innovation across the country. 

This year’s accolades will be presented in three categories are the Distinguished Researcher, Young Researcher, and Commercial Exploitation of Research Results.  

Nominations must be submitted by a third party, with candidates evaluated on their research work, achievements, and impact. 

The deadline for submissions is September 19, 2025 at 1.00 pm, with full terms and conditions available via the IRIS portal.

The construction sector in Cyprus recorded robust growth in 2023, with value added rising by 9.4 per cent compared to 2022, according to the results of a survey released on Tuesday by the state statistical service.

The latest figures show that production value of the broader construction sector increased by 12 per cent, reaching €6.23 billion in 2023, up from €5.56 billion in 2022.

Moreover, value added at current prices climbed to €1.58 billion, compared with €1.44 billion in the previous year.