The numbers do not lie, although they do not quite add up either. Not until you look closer.

For the Cyprus property market, 2025 was a record-breaking year. Total transaction value reached €6.5 billion, up 8 per cent, across 25,600 transactions, while building permits rose 9 per cent in number and 28 per cent in value.

At first glance, the picture seems clear. Cyprus is building more than ever.

And yet, the rental market is heading in the opposite direction.

The annual rental analysis from the department of lands and surveys, covering September 2024 to September 2025, shows that the average rent for a three-bedroom apartment in Nicosia jumped from €950 to €1,300 in a single year. A one-bedroom apartment in Engomi climbed from €625 to €725 over the same period.

Fuel prices in Cyprus are expected to fall within the next 10 days, following a recent drop in international oil prices, petrol station owners’ association chairman Savvas Prokopiou said on Thursday.

Prokopiou told the Cyprus News Agency (CNA) that fuel prices had moved unevenly in recent days, with some fluctuations recorded in both oil and petrol.

“Last week the price of oil decreased slightly and the price of gasoline increased slightly,” he said.

However, he noted that international oil prices had recently recorded a sharp decline of around $10 to $15, although such movements usually take time to be reflected in the Cypriot market.

Deputy Minister to the President Irene Piki this week said Cyprus and Italy can act as bridges of stability and economic interconnection between Europe, the Middle East and North Africa, as the two countries seek to deepen their cooperation in trade, energy, technology and regional connectivity.

Speaking at the Italy – Cyprus Round Table with the business community, held at the Limassol Chamber of Commerce and Industry (Evel), Piki said the current geopolitical environment has given new importance to the role of Mediterranean EU member states.

She said there is a clear common understanding between Cyprus and Italy on the main challenges and opportunities shaping the future of Europe and the wider Mediterranean.

Deputy Shipping Minister Marina Hadjimanolis attended receptions hosted by Columbia Shipmanagement and Bank of Cyprus (BoC) in Athens, as Cyprus sought to strengthen its presence around Posidonia 2026, one of the world’s leading shipping exhibitions.

The receptions were held as part of the wider Posidonia programme, which this year brings the international maritime community to the Athens Metropolitan Expo from June 1 to 5. The event is held every two years and remains a major meeting point for shipowners, managers, financiers, suppliers and service providers linked to global shipping.

Hadjimanolis attended the events together with colleagues from the Shipping Deputy Ministry, with her presence aimed at supporting Cypriot shipping companies active in Greece and reinforcing Cyprus’ ties with the Greek and international maritime community.

Cypriot startup Kyprium is aiming to transform the island’s recruitment sector through artificial intelligence, with founder Michalis Senekkis arguing that Cyprus must move away from informal hiring practices and adopt a more transparent and merit-based labour market.

Speaking to the Cyprus Mail, Senekkis said the company is positioning itself as “the only job platform in Cyprus built entirely on AI”, offering tools designed to improve recruitment efficiency for both employers and job seekers.

He explained that Cyprus has traditionally relied heavily on personal networks and informal recruitment channels, something Kyprium is trying to change through technology.

“Kyprium is trying to make hiring in Cyprus more structured, transparent and merit-based,” Senekkis said.

The founder stated that the platform uses AI-powered tools to help candidates improve their CVs, prepare for interviews, practise exam-style assessments and better understand which roles match their skills and experience.

PwC Cyprus CEO-elect Andreas Yiasemides has stressed that artificial intelligence is “no longer a future ambition or a technology experiment taking place on the margins of day-to-day business”, describing it instead as “a defining force behind how organisations operate, compete and create value”.

Yiasemides said the conversation has shifted decisively from “what AI could do” to “how AI is already transforming the enterprise”.

“Over the past few years, businesses around the world have experimented extensively with Generative AI,” he said, noting that many organisations entered this phase “with understandable excitement, launching pilots, testing productivity tools, and exploring isolated use cases”.

However, he pointed out that, “globally, relatively few companies have managed to translate that experimentation into measurable enterprise-wide value”.

Cyprus’ industrial production index recorded an annual increase of 4.7 per cent in March, according to a report from the state statistical service (Cystat).

The service reported that the index reached 116.7 units for the month, using 2021 as the base year set at 100 units, marking a clear improvement compared to March 2025.

The stronger monthly performance also lifted the cumulative figure for the first quarter of 2026, with the index rising by 1.5 per cent compared to the same period of the previous year.

A broader analysis of the data shows that the manufacturing sector registered an increase of 2.8 per cent compared to March 2025.

Greek banks remain in a strong position despite recent weakness in their share prices, according to fresh assessments by Jefferies and UBS, with both investment houses maintaining positive recommendations for the sector after meetings with bank management teams in Athens.

In a report, whose findings were shared by Greek business outlet Newmoney, Jefferies analyst Alexander Demetriou said the management teams of the country’s major lenders appeared comfortable with the outlook for 2026, supported by strong credit expansion, improving revenue diversification and stable asset quality.

The investment bank maintained buy recommendations for Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank, arguing that the sector’s underlying performance remains stronger than recent market movements suggest.

According to the report, Greek banks do not currently see any meaningful intensification in competition for deposits, despite some customer funds gradually shifting towards mutual funds.