Cyprus Business Now: tourism, maritime, foreign exchange, loans, betting revenue
For many Cypriots seeking to understand online investment, the distinction between a regulated financial service, a betting platform, and an outright illegal boiler room scam has become dangerously blurred.
This lack of clarity is being exploited by criminals, making it essential for investors to understand the fundamental legal, ethical, and operational differences between these three activities.
From the outset, the heart of the campaign lies in a special batch of artisanal kourampiedes, the traditional Greek-Cypriot delicacy that generations eagerly look forward to during the festive season.
As a result, these lovingly crafted treats become not only a symbol of festive warmth but also a vehicle for compassion and meaningful support.
The initiative took shape during an intimate press conference and media reveal on November 26 at Nomad Bread & Coffee’s cosy premises in Limassol.
Speaking at the Council’s founding ceremony and first general assembly, held on the sidelines of the Doers Summit 2025, Papanastasiou said the new body would offer a structured platform for companies from both markets.
It could, he noted, help businesses, investors and innovators “connect, exchange knowledge and create joint business actions that promote sustainable development, technology transfer and shared prosperity.”
He added that cooperation would now be channelled more systematically into areas ranging from energy and innovation to green technologies, tourism, maritime services and infrastructure projects.
Speaking at the event, Koumis said the Deputy Ministry is already implementing the EU agenda’s five pillars, the green and digital transitions, resilience, inclusion, skills development and updated regulation, and is doing so “with respect for business and local communities”.
Moreover, he said the government is closely observing developments in the EU and “everything that affects or may affect positively or negatively the present and future of tourism in our country”, stressing that sustainable development remains “the only way forward”.
The figure also represents a 16 per cent increase compared with the same period in 2023.
According to the authority, online betting once again dominated activity.
Class B operators accounted for €224.2m of the total, while Class A premises generated €73.9m.
The NBA noted that land-based revenue slipped by 3 per cent compared with the second quarter of 2024, although it remained 3 per cent higher than in 2023.
The association noted that the country is simultaneously on a path of strong recovery yet “in narrow social dead ends”, pointing to widening gaps between headline economic performance and the lived reality of thousands of households.
According to association, the economy has managed since 2012 to regain the ground lost during the financial crisis, with rising GDP, falling unemployment, stronger investment and an improved international credit profile, developments that together form an “optimistic course”.
The figures reflect the monthly movements in deposits and lending across households, non-financial corporations and other domestic sectors, as well as the annual rate of change in both categories.
According to the CBC, total deposits recorded a net increase of €412.3 million in October, compared with a net increase of €670.2 million in September 2025.
The annual rate of change remained steady at 6.3 per cent, while the balance of total deposits reached €57.6 billion.
Finance Minister Makis Keravnos said after the cabinet meeting that the proposal amends the VAT Law of 2000–2025 and introduces a reduced rate for both public and private educational facilities.
It will apply to public schools, private schools registered under the 1971 Private Schools and Tuition Centres Law, private higher-education institutions listed under the 1996 Higher Education Schools Law, as well as organisations recognised by the Registrar when their activities are directly linked to exempt education.
Speaking on the theme ‘Building a Future-Ready Workforce’, she explored how AI is reshaping the world of work, while at the same time urging stronger legal and ethical safeguards so that technology genuinely benefits people and society.
Representing Capital.com, a global fintech platform known for embedding AI into its daily operations, she linked the firm’s approach to transparency, fairness and strong human oversight.
As she explained, AI is “not just a new tool, but a new way of thinking”, adding that the focus should be on helping people grow with AI rather than be replaced by it.
The index remained unchanged compared with September 2025, while it recorded a decline of 0.5 per cent compared with October 2024.
Over the period from January to October 2025, the index showed a decrease of 0.4 per cent year-on-year.
In October 2025 compared with September 2025, the index was stable in electricity supply.
Across the EU, 60.2 per cent of people made an online purchase during that period.
Usage was highest in the Netherlands, where all 12 regions exceeded the EU average, and particularly in Utrecht and Flevoland, which posted the bloc’s top shares at 91.5 and 89.5 per cent respectively.
Moreover, the proportion of people ordering goods or services online was above the EU average in every region of the Czechia, Denmark, Ireland, France, the Netherlands, Slovakia, Finland and Sweden. This was also the case in Estonia, Cyprus, Luxembourg and Malta.
Ioannou held talks with Sweden’s civil protection leadership, Minister Carl-Oskar Bohlin and Deputy Minister Johan Berggren, before meeting Infrastructure and Housing Minister Andreas Carlson.
The visit formed part of a broader round of contacts ahead of Cyprus assuming the rotating presidency in January 2026.
During discussions on civil protection, Ioannou outlined Cyprus’ restructuring plan for the sector, saying the government aims “to improve and strengthen the level of response of the competent services to emergency incidents”, particularly natural disasters.
Swedish officials, meanwhile, noted the need to deepen cooperation among EU member states to bolster resilience nationally and collectively.