Cyprus’ betting market continued to strengthen in the fourth quarter of 2025, with total gross revenue from Class A and Class B operators rising by 22 per cent year-on-year to €395.5 million, according to figures released by the National Betting Authority (NBA). 

The figure compares with €323.2m in the corresponding period of 2024, confirming the continued expansion of the sector.

On an annual basis, total gross revenue for 2025 reached €1.33 billion, marking an 8 per cent increase compared with €1.22bn in 2024.

According to the authority, online betting continued to account for the largest share of activity during the October–December period.

Class B operators generated €301.5m of total gross revenue, while Class A land-based premises accounted for €94.1m.

Cyprus Stock Exchange (CSE) chairman Marinos Christodoulides on Monday said that the institution is preparing for a new phase of privatisation, international expansion and technological modernisation.

Speaking during an event for the exchange’s 30 year anniversary at the Landmark hotel in Nicosia, Christodoulides described the exchange’s three-decade history as a journey shaped by challenges, transformation, modernisation and important lessons for the country’s capital market.

“It is with particular joy that we welcome you to today’s anniversary event marking 30 years since the establishment of the Cyprus Stock Exchange,” said Christodoulides.

Christodoulides said the CSE, since beginning operations in March 1996, had served as a key institution for the organisation and development of Cyprus’ capital market, with the primary aim of supporting businesses and the broader economy.

“Three decades are not simply a chronological milestone, but a course filled with challenges, transformations, modernisation and significant lessons,” he said.

Cyprus property sales remained firmly in double-digit growth in April, despite the ongoing crisis in the Middle East, with transactions rising 15 per cent year-on-year to 1,611, from 1,404 in the same month of 2025. 

According to figures from the Department of Lands and Surveys, the increase followed an 18 per cent rise in March, showing that demand has continued to hold up despite regional uncertainty.

Sales to foreign buyers, from both within and outside the EU, rose to 649 in April from 552 a year earlier, accounting for 40.3 per cent of total sales, compared with 39.3 per cent in April 2025.

The biggest increase in April was recorded in Paphos, where sales rose 41 per cent, reversing the 4 per cent decline seen in March.

Invest Cyprus has signed a memorandum of understanding with the Portuguese-Brazilian Chamber of Commerce, in a move aimed at strengthening investment cooperation, business synergies and access to strategic markets linking Latin America, Europe and the Middle East.

The agreement was signed during the event ‘From Brazil to Europe & MENA: Unlocking Business & Investment Opportunities through Portugal and Cyprus’, held on April 28, at WTC Lisbon. 

The event brought together business leaders, investors, policymakers and representatives of the innovation ecosystem, with discussions focusing on new strategic routes connecting Brazil, Portugal, Cyprus, Europe and the MENA region. 

According to Invest Cyprus, the MoU marks a new chapter in business and investment relations between Brazil, Portugal and Cyprus, creating a framework for cooperation in investment promotion, economic development, business partnerships and stronger regional connectivity. 

Greek shipowner George Prokopiou has criticised Europe’s energy policy, arguing that political decisions on shipping, natural gas and LNG have left the continent facing higher costs, weaker industry and choices that may prove difficult to reverse. 

Speaking at the 1st Mare Forum Chios, Prokopiou delivered a sharp assessment of Europe’s response to the energy crisis, the war in Ukraine and the shift towards LNG, saying, according to newmoney,  that “political decisions often create consequences that businesses are later forced to absorb.” 

Drawing a distinction between politics and business, he said politicians often promise “wishes” to win votes, while businessmen are obliged to tell clients the truth, even when it is uncomfortable. 

He then turned to shipping, recalling that around seven years ago, during discussions in Cyprus, the idea of a softer transition through slower vessel speeds had first been raised. 

Hermes Airports this week marked 20 years since signing the concession agreement with the Republic of Cyprus for the management of the international airports of Larnaca and Paphos, highlighting the transformation of the country’s aviation and tourism sectors over the past two decades.

The agreement, described as the first and largest public-private partnership (PPP) in Cyprus, ushered in what the company called a new era for travel experience and Cypriot tourism, while also leaving a significant imprint on the wider economy.

Through the agreement, Cyprus gained two new state-of-the-art airports in Larnaca and Paphos, following investments exceeding €640 million, the operator stated.

The project was recognised internationally and received the “Best Transport Project in Europe” award from World Finance in 2013.

Cyprus’ Tax Department is set to begin sealing the premises of businesses with unpaid tax debts during the summer, using powers introduced under the country’s new tax framework that came into force earlier this year.

The measure forms part of the broader tax reform package approved by parliament and effective since January 1, 2026.

According to a report from Philenews, the suspension of business operations and sealing of premises is one of several additional enforcement tools granted to the department under the new legislation.

For the measure to be activated, at least one of the three conditions set out in the revised legal framework must apply.

Information obtained by the newspaper indicated that during the summer months the Tax Department intends to intensify pressure on taxpayers, both individuals and companies, with outstanding tax liabilities exceeding €20,000.

The Education, Training and Young Talent Attraction Committee of the Cyprus Employers and Industrialists Federation (Oev) recently met with the management of the Human Resource Development Authority (Anad) to discuss skills development and labour market competitiveness in Cyprus.

According to an announcement released thsi week, the meeting was held on May 5, as part of a broader series of contacts carried out by the Oev committee with competent bodies on issues related to education, training, skills development and the strengthening of Cyprus’ human capital competitiveness.

The committee was chaired by Yangos Hadjiyannis, who heads the Education, Training and Young Talent Attraction Committee of Oev.

The European Central Bank’s (ECB) latest wage tracker showed easing negotiated wage growth across the euro area in 2026, while recent data from Cyprus pointed to continued salary increases alongside persistent income disparities across the labour market.

The latest figures from the European Central Bank and Cyprus Statistical Service (Cystat) highlighted how wage growth, inflation pressures, labour market dynamics, income inequality, collective bargaining agreements and broader economic conditions continue to shape the outlook in Cyprus and across Europe.

According to the ECB’s headline wage tracker, negotiated wage growth with smoothed one-off payments is expected to reach 3.2 per cent in 2025 before slowing to 2.3 per cent in 2026.

The ECB said these calculations are based on coverage representing 51.3 per cent of employees in participating countries for 2025 and 41.9 per cent for 2026.

Compared with the March 2026 data release, the ECB said the 2026 figures remained unrevised.

The ECB’s tracker using unsmoothed one-off payments indicated negotiated wage growth of 3.0 per cent in 2025 and 2.6 per cent in 2026.

Meanwhile, the tracker excluding one-off payments showed a decline in negotiated wage growth from 3.8 per cent in 2025 to 2.6 per cent in 2026.

The American Chamber of Commerce in Cyprus (AmCham) has announced that its Digital Transformation and Fintech Committee will host a high-level executive forum on artificial intelligence in Nicosia on May 25.

The forum will bring together business leaders, policymakers and technology experts to examine how organisations can turn AI compliance into a competitive advantage.

The event, titled “From Compliance to Competitiveness: The Complete AI Leadership Agenda”, will take place at INSET Nicosia.

According to the organisers, the forum will focus on how companies can move beyond regulatory compliance and use artificial intelligence to drive competitiveness, innovation and operational efficiency.

Cyprus’ current account balance continued to improve in 2025, although ongoing geopolitical tensions in the Middle East remain a significant risk for the economy’s external position, according to Eurobank research economist Michail Vassileiadis.

According to the analysis provided by the Eurobank economist, Cyprus’ current account deficit narrowed by 1.8 percentage points of GDP compared with 2024, reaching 6.4 per cent of GDP.

This extended the 1.5 percentage point correction recorded after the 15-year peak deficit seen in 2023, when the current account shortfall reached 9.7 per cent of GDP.

The improvement was driven primarily by a further expansion in the services surplus, which rose to a historic high of 25.2 per cent of GDP, up from 23.5 per cent in 2024.

Young professionals, students and CFA candidates will be given a closer look at the changing face of finance and investment management next week, as CFA Society Cyprus prepares to host an online career event linking emerging talent with leading employers. 

The CFA Society Cyprus Online Career Event, titled ‘Connecting Talent with Opportunity’, will take place on May 14, at 17.00, bringing together students, young professionals, CFA Program candidates, CFA Institute representatives and employers active in Cyprus. 

The event aims to help emerging talent better understand the career opportunities available in finance and investment management, both locally and internationally. At the same time, it will give employers the opportunity to connect with motivated candidates who are already developing their professional knowledge through the CFA Programme. 

Kinisis Ventures (KV) has announced a strategic investment in Phase3D, a Chicago-based company developing real-time quality assurance technology for 3D metal printing, as part of a $2 million seed financing round.

The round was carried out alongside New York Angels (NYA) and other investors, including Quest Venture Partners and DMG Mori, further strengthening Phase3D’s position in the industrial additive manufacturing sector.

Phase3D has developed Fringe Inspection™, a proprietary technology designed to provide a universal quality assurance solution for the metal additive manufacturing industry. Using high-resolution, camera-based sensing, the system provides physics-based measurements, rather than relying solely on AI-based methods.

Thanos Hotels & Resorts has carried out a €10 million investment in Anassa, located in Neo Chorio, Paphos, reinforcing the position of one of the most iconic luxury hotels in the Mediterranean.

The upgrade forms part of the group’s broader investment plan, which aims for its total managed portfolio value to exceed €1 billion by 2029.

The Anassa luxury hotel maintains its reputation as one of the region’s most recognisable high-end hospitality destinations, with the group steadily upgrading both its product and services.

The investment covers rooms, hospitality services and gastronomic experiences, reflecting a strategy of continuous evolution pursued by the group over many years.

The landscape of commercial transactions in Cyprus is undergoing a profound shift as the island moves closer to a cashless society.

While international payment giants have long dominated the fintech space, their focus often remains fixed on large-scale corporations, leaving small and medium-sized enterprises (SMEs) and independent contractors to navigate a maze of complex hardware and costly subscriptions.

Pale Blue, a home-grown software engineering firm, is aiming to dismantle these barriers with its innovative mobile application, Paid.

This softPOS technology transforms a standard NFC-enabled smartphone into a fully functional payment terminal, effectively eliminating the need for traditional, bulky card readers.

The International Maritime Organisation’s (IMO) Legal Committee is reviewing a key update on the fair treatment of seafarers, as shipping bodies intensify efforts to protect crews from arbitrary detention, prolonged legal uncertainty and criminal proceedings in foreign jurisdictions. 

According to Maritime Cyprus, a joint report submitted by the International Chamber of Shipping (ICS) and the International Transport Workers’ Federation (ITF) warned that seafarers are increasingly being detained for long periods, in some cases for years, while authorities investigate alleged crimes despite the absence of reliable evidence.

The report said the problem has exposed a “critical gap” between national governments and local judicial systems. Although many IMO member states support international fair treatment guidelines, local prosecutors and courts may not be aware of them or may fail to apply them when dealing with maritime accidents or criminal investigations. 

Philoktimatiki Public Limited issued a formal notice on Tuesday announcing that its annual general meeting will take place at the company’s offices in Nicosia on June 11, 2026.

According to the official agenda, the primary objective of the meeting is the examination of the directors’ report and the financial statements for the fiscal year that ended on December 31, 2025.

Shareholders will also participate in the election of the members of the board of directors during the proceedings.

Demetra Holdings Plc announced on Tuesday that the company completed a buyback of its own shares during a market session held on the previous day.

Operating under the relevant regulations of the Cyprus Stock Exchange (CSE) and the circulars provided by the Cyprus Securities and Exchange Commission (CySEC), the firm moved to acquire a portion of its equity.

Specifically, the company acquired a total quantity of 6,400 own shares, the CSE filing showed.

The shares were purchased at a fixed price of €1.50 each, resulting in a total investment for the single session of €9,600.

Moreover, the transaction was executed in accordance with a specific authorisation granted during the annual general meeting held on June 24, 2025.

Investment bank UBS has issued an optimistic update on the Greek banking landscape, pointing out that it is no longer a monolith but a tale of two distinct investment paths, following a robust start to the year.

The bank, whose report was shared by Greek business outlet Newmoney, maintains a buy recommendation for both Eurobank and the National Bank of Greece (NBG), citing robust profitability and strategic upgrades.

Eurobank remains a case study for regional presence and resilient income, while the National Bank of Greece has secured a new upgrade catalyst through its recent bancassurance agreement with Allianz.

The price target for the National Bank of Greece was upgraded to €18.20 from €17.50, whereas the target for Eurobank was held steady at €4.70.