The European Commission has disbursed nearly €76 million to Cyprus, representing the fourth payment under the Recovery and Resilience Facility (RRF), a key part of NextGenerationEU.

In total, the commission has allocated €42.8 billion to five member states (Cyprus, Italy, Portugal, Malta, and Spain) under the RRF.

This latest payment covers 17 milestones and six targets focused on expanding online government services, improving corporate trust with a transparent beneficial ownership registry, and digitalising healthcare services, especially in cross-border contexts.

The Cyprus Investment and Securities Corporation (CISCO), a wholly owned subsidiary of the Bank of Cyprus Group, on Friday announced a strategic partnership with global asset manager Schroders to launch a new range of sustainable investment portfolios.

According to an official announcement, these portfolios are tailored primarily for institutional investors, as well as for other investors seeking solutions aligned with environmental, social, and governance (ESG) principles.

“This collaboration marks a significant development in the Cypriot financial services sector,” the Bank of Cyprus stated.

It explained that it brings together CISCO’s extensive experience in managing institutional mandates with Schroders’ global expertise in sustainable and impact investing.

The Deputy Shipping Ministry on Friday issued a statement summarising Deputy Minister Marina Hadjimanolis’ participation at the 3rd UN Conference on Landlocked Developing Countries (LLDC3).

The conference, held in Awaza, Turkmenistan, earlier this week, was attended by the UN Secretary-General, heads of state and government, ministers, and representatives from more than 120 countries and other international and regional organisations.

During the meeting, participants reaffirmed their commitment to the Sustainable Development Goals, with a strong emphasis on connectivity, trade facilitation, digital transformation and climate resilience.

Hadjimanolis said Cyprus aligned itself with the positions of the European Union, welcoming the Awaza Programme of Action for the Decade 2024–2034, adopted by the UN General Assembly in December 2024.

The Bank of Cyprus Holdings Public Limited Company on Friday announced that 8,573 additional ordinary shares with a nominal value of €0.10 each were issued on May 28, 2025 to three executives under its Short‑Term Incentive Plan (STIP).

“These additional shares were issued on May 28, 2025, under the company’s Short‑Term Incentive Plan (STIP) and were granted to members of its executive management team,” the bank confirmed in a filing to the Cyprus Stock Exchange (CSE).

The listing received shareholder approval at the General Meeting held on May 17, 2024.

The new shares will be traded on both the Cyprus Stock Exchange and the Athens Stock Exchange, and will be registered as Depository Interests in the CSE’s Central De‑pository system from August 11, 2025.

Following this action the company’s issued share capital totals 440,828,633 ordinary shares of €0.10 nominal value, and the new shares rank pari passu with existing shares.

Paphos is facing the same problems as Cyprus’ wider tourism sector, including seasonality, infrastructure gaps and water shortages, according to Nasos Hadjigeorgiou, executive director of the Paphos regional tourism board (Etap).

Speaking to the Cyprus News Agency (CNA), Hadjigeorgiou said that visitor demand remains concentrated in the summer months, with November to March seeing “low traffic”.

Etap’s goal, he said, is to keep 17,000 of the district’s 29,000 hotel beds open year-round, up from about 11,000 today.

Hadjigeorgiou said accessibility remains an issue despite progress. He stressed that more flights are needed from Germany, the Nordic countries, and Middle Eastern countries such as Egypt and Lebanon, while road links between airports, urban centres and rural communities require improvement.

He mentioned that Paphos airport still struggles to handle passenger flows at peak times, although ongoing expansion works are expected to ease congestion.

The Non-Performing Loans (NPL) ratio in the Cypriot banking sector fell to 5.9 per cent at the end of April, down from 6.1 per cent at the end of March, according to figures published by the Central Bank of Cyprus (CBC) on Friday.

Out of the total loan stock of €25.19 billion, NPLs amounted to €1.49 billion by the end of April, of which €1.15 billion were more than 90 days overdue.

The CBC also mentioned that 7.7 per cent of household loans were classified as non-performing.

In terms of corporate loans, the NPL rate stood at 5.1 per cent, while for small and medium-sized enterprises (SMEs), the figure reached 7.3 per cent.

The Cyprus Real Estate Agents Registration Council has successfully concluded its cycle of regional information meetings across all cities in the government-controlled areas of Cyprus.

According to an announcement released on Friday, the gatherings attracted dozens of licensed real estate agents and “provided a platform for direct dialogue and the exchange of views between professionals and the council“.

“During the meetings, the council’s president and members of the board engaged with participants, listening to their concerns and suggestions and offering detailed updates on current issues facing the real estate sector,” the council mentioned.

It added that “the turnout and active participation of agents exceeded expectations, confirming the importance of such initiatives in strengthening the profession”.

The Association of Cyprus Banks and the Union of Arab Banks have agreed to set up a new platform to strengthen cooperation between the two banking systems, following the signing of a Memorandum of Understanding (MoU) in Nicosia on Friday.

The agreement was signed by Association of Cyprus Banks president Aristidis Vourakis and Union of Arab Banks secretary general Wissam Fattouh.

The memorandum aims to launch the Arab-Cypriot Banking and Economic Dialogue, a forum for sharing expertise and promoting closer ties.

Limassol port manager DP World Limassol on Friday announced that it has completed its annual internship programme for university students in Cyprus.

According to the announcement, the company offered a three-month internship to undergraduate students pursuing studies in maritime or related disciplines. Three undergraduates from the Cyprus University of Technology and Frederick University participated in this year’s programme.

They worked alongside professionals at DP World Limassol, contributing to various projects and gaining exposure to real operational processes. Through this experience, the company explained, the interns enhanced both their technical abilities and interpersonal skills.

Eurobank remains the top pick among Greek lenders, according to the latest analysis by Jefferies, a global, full-service investment banking and capital markets firm.

The firm maintained its “buy” rating on Eurobank shares, reaffirming a price target of €3.70 and citing strong second-quarter performance and the bank’s robust international footprint. Roughly half of Eurobank’s profits are now generated outside Greece, underlining its position as the most diversified franchise among its domestic peers.

Return on tangible book value reached an impressive 16.6 per cent in the second quarter, driven by a 15 per cent quarterly increase in fee income, which helped offset a slight one per cent decline in net interest income. Despite the mild pressure on interest revenue, Jefferies highlighted the resilience of Eurobank’s underlying business, particularly given the backdrop of a declining interest rate environment.

The Cyprus statistical service (Cystat) on Friday reported a 13.8 per cent drop in the number of building permits issued in April, when compared with the same month last year.

According to the report, a total of 577 building permits were authorised in April, down from 669 in April 2024. 

The total value of these permits reached €255.2 million, while the total authorised construction area amounted to 204,000 square metres.

Cyprus recorded an increase in motor vehicle registrations in July 2025, with total registrations rising by 13.7 per cent to 5,246, compared with 4,614 in July 2024, according to data from the Statistical Service (Cystat) released on Friday.

Passenger saloon cars rose18.6 per cent to 4,154 from 3,503 in the same month last year. 

Of the total vehicles registered in July 2025, 2,150 were new, marking a 2.9 per cent increase from 2,090 in July 2024, while 3,096 were used, up a significant 22.7 per cent from 2,524 last year. 

During the first seven months of 2025, total motor vehicle registrations increased by 1.1 per cent to 31,200, from 30,864 in the corresponding period of 2024. Registrations of passenger saloon cars were stable, rising by 0.1 per cent to 24,158.

Star Bulk Carriers, with ship management offices in Limassol, Cyprus, has reported its 20th consecutive profitable quarter, posting second-quarter 2025 net income of US$0.04 million, EBITDA of US$55.9 million and a daily time charter equivalent (TCE) per vessel of US$13,624.

The New York-listed dry bulk owner will pay a dividend for the 18th consecutive quarter, amounting to US$0.05 per share. According to the company, total dividends distributed to shareholders now stand at approximately US$1.36 billion.

CEO Petros Pappas said that, alongside dividends, Star Bulk continued its share buyback programme, acquiring 3.3 million shares “at prices significantly below net asset value” using proceeds from vessel sales. He noted that this reflects management’s confidence in the company’s intrinsic value and its commitment to shareholder returns. 

The company explained it sold nine vessels in the second quarter that no longer fit its commercial profile, strengthening its fleet composition and cash position.  

The Cyprus Department of Information Technology Services (DITS), under the Deputy Ministry of Research, Innovation and Digital Policy, has entered into an agreement with Newcytech Business Solutions Ltd for the supply of Lenovo technology equipment.

According to an official announcemne, the agreement outlines the procurement of specialised Lenovo servers to serve the broader public sector of the Republic of Cyprus over a period of two years, with the option for a one-year extension.

Newcytech, acting as the project contractor and Lenovo’s strategic partner in Cyprus, will be responsible for supplying advanced Lenovo server systems.

The company will also handle the configuration of the equipment to match the specific needs of each public sector service, as well as the delivery of operating systems, installation services, and technical support for the duration of the contract.

The Enterprise Europe Network Warsaw, in collaboration with the Digital Economy Lab of the University of Warsaw, has announced the organisation of DEICy 2025, a comprehensive online event focusing on the digital economy, the Internet of Things, and cybersecurity.

According to an announcement released this week by the Cyprus Chamber of Commerce and Industry (Keve), the event will be held entirely online from November 24 to November 28, 2025.

It will feature a series of informative workshops and business meetings tailored for companies, technology centres, research groups, institutions, and individuals.

The organisers noted that DEICy 2025 is open to anyone active in or interested in advancing their work in areas related to digital transformation.