Cyprus Business Now: shipping, technology, energy, real estate, IMF
The union explained that this would allow for more time to reach a wider consensus ahead of its adoption at the MEPC ES.2 session from October 14 to 17.
According to the statement, the NZF poses “a serious threat to the European shipping, economy, and energy security,” while also representing “a grave danger to small and medium-sized enterprises (SMEs)”, the backbone of European shipping.
It was described as “a multi-billion-euro tax that does not reduce emissions but instead shifts the cost to end-consumers, fuelling inflation across the European Union.”
Alongside its inclusion, the stock received a “Buy” rating from the firm’s analysts, marking another milestone in Freedom Holding’s growing recognition among major international investors.
Moneyball is one of The Motley Fool’s leading investment strategies, featuring up to 250 high-conviction stock ideas each year.
A team of experts selects the stocks using a combination of rigorous valuation analysis, market trend assessment, and insights from The Motley Fool’s proprietary AI platform.
Specifically, Hadjimanolis highlighted the island’s continued efforts toward reunification, its role as a pillar of stability in the Eastern Mediterranean, and the strategic importance of shipping to the Cypriot economy.
The event, held at a central London hotel on Tuesday, brought together representatives of both the Cypriot and British governments.
They were joined by members of the diplomatic corps, parliamentarians, officials from the Commonwealth and the International Maritime Organisation (IMO), business leaders, academics, clergy, and members of the Cypriot diaspora.
Speaking after a cabinet meeting at the Presidential Palace, Keravnos said he was pleased with the IMF’s October World Economic Outlook, which he described as conservative but still a clear endorsement of Cyprus’s economic direction.
“The IMF’s forecasts always tend to be much more conservative, even compared with our already cautious projections,” he said.
He stressed that the IMF remains one of the organisations closely monitoring developments in Cyprus following the financial crisis, while also assessing economic trends across Europe and the world.
The minister said the latest IMF projections demonstrate that the country’s fiscal discipline, stable growth, and resilience continue to pay off, even as the global economy faces uncertainty from trade tensions and weaker external demand.
The analysis, which includes the top 10 transactions per district, reaffirms the steady interest in high-value deals across Cyprus despite broader market uncertainty.
In July, the 10 highest-value property sales nationwide reached a combined €31.95m, with the largest being the €9m sale of a building in Limassol’s Katholiki area.
Limassol accounted for four of the top 10 deals, while Nicosia and the Famagusta district each recorded two.
Larnaca and Paphos contributed one transaction each, showing that activity was spread across all regions.
Meanwhile, the top 50 sales in July reached a total of €72.8m.
According to the Ministry of Energy, the meeting took place on the sidelines of GITEX Global 2025, where the Cypriot minister is leading the country’s delegation as part of Cyprus’ national pavilion, organised in cooperation with the Cyprus Trade Centre in Dubai.
The pavilion showcases 14 Cypriot technology firms, underlining the island’s growing presence in the global innovation ecosystem.
The UAE Minister expressed his country’s deep appreciation for Cyprus’ role as a reliable partner in the wider region, reaffirming his government’s readiness to provide all possible support to deepen economic collaboration.
Discussions also focused on the will be establishment of the Cyprus Business Council, which will be based in Dubai and composed of Cypriot businesses operating in the UAE.
The number of building permits authorised in June stood at 635, compared to 1,528 in June 2024.
In total, the value of these permits reached €275 million, while the total area covered amounted to 236,700 square metres.
These permits provide for the construction of 1,132 dwelling units.
Over the first half of the year, from January to June 2025, a total of 3,399 building permits were issued, compared with 4,782 during the same period of 2024, marking a 28.9 per cent decline overall.
The association said that “to strike a balance between stability and growth, Cyprus needs a more flexible and targeted lending policy that better supports businesses and households”.
In its statement, Syprodat said that “according to recent data, Cypriot banks rank first in the eurozone in terms of liquidity, a fact that reflects their stability and capital adequacy.”
However, the association added that “at the same time, they show the lowest loan-to-deposit ratio, meaning they grant proportionally fewer loans compared with their available funds.”
In a statement issued this week, the chamber expressed its “distinct satisfaction” with the findings of the Central Bank of Cyprus’ (CBC) ship management survey, which showed a significant increase in the sector’s performance during the first half of 2025.
The chamber said that ship management revenues reached €978 million between January and June 2025, equivalent to 5.5 per cent of Cyprus’s half-year GDP.
It added that this marks a 6.7 per cent increase compared with the second half of 2024, describing the result as proof of the sector’s resilience and strategic importance.
In a circular issued on October 14, 2025, CySEC informed Cyprus-based investment fund managers that ESMA has begun publishing a series of thematic notes offering guidance on environmental, social and governance (ESG) communication.
The regulator said the thematic notes aim “to inform and educate market participants, as well as to formulate expectations when making sustainability claims, through a series of good and bad practices on specific topics”.
The notes, CySEC explained, are based on four key principles that firms should follow when making any kind of sustainability-related claim: accuracy, accessibility, substantiation and up-to-dateness.
The online event will take place on Thursday, October 30, 2025, at 11:00, and will be conducted in English via Zoom.
The webinar is designed to introduce European enterprises to collaboration opportunities across African markets.
It will provide participants with practical guidance on engaging successfully with African partners, covering economic overviews of selected African countries and sectors with strong business potential.
Attendees will also learn practical tips for working with African companies and institutions, including guidance on business agreements, export regulations, and establishing subsidiaries.
The bank was named Best in Social Media Marketing and Services in the Consumer category and Best in Transformation in the Corporate and Institutional category.
In addition to these regional accolades, the Bank of Cyprus received nine national awards, among them Best Consumer Digital Bank and Best Corporate and Institutional Digital Bank in Cyprus.
“These awards recognise the significant efforts the Bank of Cyprus has made to provide its customers with industry-leading digital products and services as well as enhanced features and user experience,” the bank stated.
The transaction details, shared on the Cyprus Stock Exchange (CSE), reveal that the 4,907 shares were bought in four separate tranches on the same day.
In the first two transactions, Demetra Holdings PLC purchased 1,583 shares and 1,417 shares respectively, both at a price of 1.66 cents.
The final two transactions saw the company purchase 84 shares and 1,823 shares, both at a price of 1.665 cents.
A total of 14 students and 11 schools from across Cyprus received awards for their creativity, innovation and scientific curiosity.
The ceremony recognised participants in five competitions, where students presented ideas and projects that showcased their ability to think critically and develop innovative solutions to modern challenges.
The competitions included the Artistic Creation Action – European Missions for Sustainability, Design Thinking Challenge, E-book Short Story, and Science Unfold, along with an award for the Best Exhibition Stand.