The Central Bank of Cyprus (CBC) on Wednesday published updated data on non-performing loans and banking sector profitability, balance sheet and capital adequacy for the period ending June 30, 2025.

According to the CBC, the non-performing loans ratio of the Cypriot banking sector fell to 5.6 per cent at the end of June 2025 from 6.1 per cent in March 2025.

The decline was mainly due to currency fluctuations, repayments, positive migrations into the performing categories and write-offs.

In addition, the coverage ratio of non-performing loans with provisions rose to 62 per cent at the end of June 2025 compared with 60.5 per cent at the end of March 2025.

Chief Scientist Demetris Skourides concluded a four-day visit to India on September 19, following a series of meetings with business, political and academic leaders aimed at deepening bilateral cooperation and exploring new opportunities for Cyprus in innovation, trade and investment.

According to an announcement released on Wednesday, Skourides participated in a ICC Global Business Summit 2025 panel discussion, titled Technology Dialogue Accelerating Global Impact Through Innovation, Collaboration, and Sustainable Progress.

He also delivered the opening keynote at WTC Mumbai under the theme Bridging Continents: Cyprus’s Rapidly Growing Research and Innovation Ecosystem.

During the visit, Skourides met with senior executives from India’s largest gaming company Nazara Technologies, including Nitish Mittersain, to discuss collaboration opportunities with Cypriot companies to strengthen the gaming industry in Cyprus.

He also held talks with Fancode co-founder Prasanna Krishna about expanding digital sports engagement models to Europe through Cyprus.

Cyprus is experiencing a milestone moment in its labour market. With unemployment dropping to 3.7 per cent in April 2025, the country is not only demonstrating economic resilience, but also leading the European Union in year-on-year reduction of unemployment.

While this signals robust growth, it introduces a new challenge for businesses: an intensifying competition for human capital.

According to Eurostat, Cyprus achieved the largest decrease in unemployment among EU member states, falling from 5.1 per cent in April 2024 to 3.7 per cent in April 2025—a remarkable 27.5 per cent drop.

This positions the country as third-lowest in unemployment across the Eurozone. The number of unemployed persons shrank from 29,102 to 26,161, while employment figures grew by 16,400, reaching 493,272 employed individuals.

Eurozone employees are reluctant to give up a significant share of their wages for the option to work from home, despite reporting high levels of satisfaction with hybrid arrangements, a European Central Bank (ECB) survey has shown. 

According to the paper, prepared by António Dias da Silva and Marco Weissler, 70 per cent of workers said they would not accept a pay cut if their employer banned remote work.  

However, 13 per cent would accept a reduction of between 1 and 5 per cent, while 8 per cent would take a cut of between 6 and 10 per cent.  

Two loan agreements with a total value of €81 million will be signed on Thursday between the Finance Ministry and the European Investment Bank (EIB).

According to an official statement from the Finance Ministry, the first agreement concerns the second tranche of the “Thalia 2021–2027” programme, worth €50 million.

The second agreement relates to an increase in a pre-existing loan granted to the Cyprus Institute of Neurology and Genetics (CING) from €26 million to €31 million.

The European Union posted a €23 billion trade surplus in high-tech products in 2024, returning to positive territory after a €15 billion deficit the year before and four consecutive years in the red, Eurostat data showed on Wednesday.

Cyprus, meanwhile, recorded a 10 per cent drop in such imports to just over €5 billion.

EU imports of high-tech goods stood at €478bn, edging down 0.2 per cent from 2023, while exports rose 8.1 per cent to €501bn, pushing the bloc back into surplus for the first time since 2019. 

The Cyprus Securities and Exchange Commission (CySEC) has recently taken several enforcement decisions, imposing fines and bans on directors, penalising a company for late reporting, and approving the voluntary renouncement of an investment management authorisation.

On July 21, 2025, CySEC decided to impose an administrative fine of €1,300 on the investment firm Conotoxia Ltd for failing to submit its first-quarter 2025 QST-CIF Form within the deadline set by CySEC circular C691.

The regulator said the fine was imposed due to non-compliance with its reporting requirements, which aim to ensure transparency and proper monitoring of investment firms.

European fintech company payabl. this week announced that it has expanded into the Lithuanian market, formalising its presence in Vilnius and establishing the city as its hub for the Baltics and Scandinavia.

The company, which already operates in the United Kingdom, the Netherlands, Germany and Cyprus, said the new office will help strengthen its position in the fast-growing markets of the region, particularly in technology, e-commerce and mobility.

The move formalises payabl.’s presence in Vilnius, where it has been building a growing team for several years.

The Doers Company this week announced that it has expanded its global reach with two new strategic partnerships in India, marking a major step in strengthening its presence across Asia.

During a visit to Mumbai on September 22, Dusan Duffek, Co-Founder and Board Member of The Doers Company, signed Memoranda of Understanding with two prominent organisations.

The first agreement was formalised with the India Business Group (IBG), represented by Vikash Mittersain, Founder and President of IBG and Chairman of Nazara Technologies, India’s largest gaming company.

Demetra Holdings Plc on Wednesday reported a profit after tax of €10.23 million for the first half of 2025, equivalent to 5.11 cents per share, compared with €39.04 million or 19.52 cents per share in the same period of 2024.

This follows a board meeting on September 23, 2025, where the company’s interim condensed consolidated financial statements for the first half of the year were approved. The results have not been audited by the group’s external auditors.

The company said that the profit recorded in the first half of 2025 was mainly derived from the group’s investments on the Cyprus Stock Exchange (CSE).

Leading Greek and international shipowners gathered in Athens on Tuesday for the TradeWinds Shipowners Forum Greece 2025, debating how to navigate geopolitical turbulence, commercial risk and the accelerating push to decarbonise global shipping. 

The one-day forum at the National Gallery brought together more than 350 executives, policymakers and financiers from across the industry. Discussions centred on how Greece, which controls nearly a fifth of the world’s fleet, can adapt to regulatory pressure, technology shifts and volatile markets. 

ABS chairman and CEO Christopher J. Wiernicki likened the drive to Net Zero to “building a ship,” saying it requires leadership, teamwork and clear milestones.  

Lordos United Public Ltd has reported a consolidated profit of €981,113 for the first half of 2025, an increase compared with €879,923 in the same period last year.

The company announced the results in its interim management report for the six months ending June 30, 2025, which was approved by the board of directors during its September 23, 2025 meeting.

Turnover reached €14,725,219 compared with €14,357,411 a year earlier, marking a rise of 2.56 per cent.

Cypriot telecommunications trade union Epoet has called for the appointment of an executive chairman at Cyta, while at the same time reducing the powers of the chief executive officer (CEO).

This follows the recent departure of Andreas Neocleous from his role as chief executive officer, which came into effect on September 12.

The union stressed the importance of immediately filling the vacant CEO position and offering a competitive remuneration package.