The approval follows an agreement signed on December 23, 2024, extending Hermes Airports’ management until 2033, a move that paved the way for major infrastructure upgrades.
The deal resolved long-standing financial disputes and facilitated the launch of Phase 2 construction projects.
With an investment of €170 million, these expansions are designed to elevate Cyprus’ aviation capabilities to accommodate up to 17 million passengers annually, marking a significant boost from the current capacity.
“When it comes to global shipping, Cyprus is bigger than it looks,” Stork told the Cyprus Mail. “It has built a reputation as one of the world’s top ship management hubs, home to more than 1,000 vessels and a growing number of international maritime companies.”
Stork explained that beyond Cyprus’ traditional strength in ship management, the island is also increasingly becoming a base for technology and innovation in the sector.
“For companies in maritime tech, bunker trading, and chartering, Cyprus offers something unique,” Stork said.
According to the latest report released by the state statistical service, which is based on data from the district labour offices, the number of registered unemployed at the end of January 2025 stood at 13,147 people.
Seasonally adjusted figures, which reflect the unemployment trend, show that the number of registered unemployed dropped to 10,447 in January 2025, compared to 10,511 in December 2024.
This represents a decrease of 1,552 people, a drop of 10.6 per cent, when compared to January 2023.
According to the Statistical Service of Cyprus (Cystat), the consumer price index (CPI) fell by 1.58 points in January, reaching 116.73 points from 118.31 points in the previous month.
The most significant price movements were observed in agricultural products, which saw a 10.0 per cent increase compared to the same month last year but a 6.1 per cent decline from December.
Despite the US threatening to impose new tariffs on European goods, Cyprus’ trade seems minimally affected at present, with exports to the US at €50 million and imports at €220 million.
However, he pointed out that the real concern is whether the US will pressure Europe to impose increased tariffs on imports from China.
“In such a case, the shocks would be huge as Europe imports from China many times more products and would also create additional problems for European industries,” Roussounides explained.
The announcement noted that as Head of Technical and Professional Matters at ICPAC, Assioti “plays a pivotal role in shaping policies and strategic initiatives in key areas such as financial reporting, auditing and assurance, ethics, and sustainability”.
“Her active participation in international forums and technical committees further strengthens Cyprus’ presence on the global accounting stage,” the announcement added.
According to an announcement from the chamber, the event will take place on February 27, 2025 at 9:30 a.m. at the Keve building in Nicosia.
“A German business delegation is visiting Cyprus as part of the Foreign Market Entry Programme of the Federal Ministry for Economic Affairs and Climate Action,” the chamber said.
“This initiative aims to enhance bilateral business relations between the two countries, with a strong focus on sustainable mobility and electrification,” it added.
According to the foundation, the planned programmes aim to strengthen Cyprus’ innovation ecosystem.
The plan, the foundation explained, involves pioneering funding initiatives that support the development of production lines for innovative products and artificial intelligence (AI) solutions to address challenges within the public sector.
Additionally, a fast-track development programme will provide backing for the rapid creation and commercialisation of innovative products and services.
January’s total sales reached 1,275 properties, according to the land department, marking a significant uptick from the 1,056 properties sold in the previous year.
Limassol led the way, recording 429 sales this January, up from 315 in the same month last year, accounting for about one-third of the total sales and reflecting a 36 per cent increase—the highest among all districts.
Following closely, Nicosia saw its property sales rise by 13 per cent to 276, up from 244 the year before.
Larnaca also showed significant growth, with sales increasing by 20 per cent to 259 properties compared to 215 in January 2024.
Speaking at the 14th Athens Energy Summit on Wednesday Papanastasiou brought up the challenges and uncertainties created by new US policies and ongoing wars, which he said are threatening the competitiveness of the EU’s heavy industry.
According to the energy minister, having been cut off from cheap Russian energy Europe is headed down a path of heavy dependence on the US, which will increase costs.
“We need to think again about these issues in Europe. Renewables, combined with complete systems for generation, grids and storage, can be the way forward,” Papanastasiou said.
It is important to develop coherence and unity because in its absence costly investments would be the alternative, he added.
This community is a dedicated platform specifically designed to foster dialogue and facilitate knowledge exchange among financial professionals within the tech industry.
It is mentioned in the announcement that it includes CFOs, VPs of finance, heads of accounting, and treasury professionals in the ICT sector.
Furthermore, the platform provides a collaborative space where members can tackle daily financial challenges and discuss crucial topics such as finance, accounting, treasury, investment, banking, and taxation.
Additionally, it offers an opportunity for professionals to share experiences, gain insights, and network with peers who share their goals and interests.
Speaking after a meeting with President Nikos Christodoulides and members of the association of bondholders (Sykata), Keravnos said the government had undertaken to promote the compensation of burned depositors and bondholders, who saw their assets wiped out in the financial meltdown.
Sykata president Stavros Yiallourides said that there was indeed hope and thanked the president for keeping his pre-election promises.
“At last, 13 years later, we are in the happy position to hope that this great injustice against us will be rectified. Finally, the first step has been taken,” he said.
The Cyprus Stock Exchange (CSE) ended Thursday, February 6, with negligible gains.
The general Cyprus Stock Market Index stood at 224.32 points at 12:27, reflecting a rise of 0.01 per cent.
The FTSE / CySE 20 Index was at 136.13 points, representing a decrease of 0.02 per cent.
The total value of transactions came up to €246,941, until the aforementioned time during trading.
In terms of the sub-indexes, the main and investment firm indexes fell by 0.02 per cent and 1.2 per cent respectively. The alternative index rose by 0.02 per cent while the hotel index remained stable.
The biggest investment interest was attracted by the Bank of Cyprus (no change), Hellenic Bank (+0.63 per cent), Logicom (+1.06 per cent), Demetra Holdings (-1.22 per cent), and Vassiliko Cement Works Public Company (-0.52 per cent).
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