Greece’s power grid operator on Thursday pushed back against mounting criticism over its demand that Cyprus cover part of the costs for the undersea electricity interconnection project linking Cyprus, Greece, and Israel.

The independent power transmission operator (Admie) insisted that Cyprus’ delay in honouring its obligations under a bilateral agreement threatens to derail the entire project, which has already faced geopolitical obstacles from Turkey.

“Claims of blackmail by Admie towards Cyprus are completely unfounded and only serve to create false impressions,” the operator said in a statement.

Consumer prices in Cyprus fell by 0.4 per cent in June 2025, when compared to the same month last year, according to data released by the state statistical service on Thursday.

The Consumer Price Index (CPI) decreased by 0.29 points in June to reach 117.28 units, down from 117.57 in May.

The drop in inflation marks a notable shift after months of price increases and reflects a combination of sector-specific declines and seasonal factors.

The Thalia 2021–2027 Cohesion Policy Programme is currently Cyprus’ most ambitious effort to support small and medium-sized enterprises (SMEs), with a total budget of €1.8 billion, including €969 million from the European Union and €842 million from the national government.

So far, calls worth €330 million have been launched under the programme, offering grants to strengthen SME competitiveness, support start-ups, promote research and innovation, and incentivise the recruitment of unemployed people from vulnerable groups.

Of this, €11.5 million has been earmarked for research and innovation projects, while €8 million will fund incentives for businesses to employ people from disadvantaged backgrounds.

Cyprus recorded €75.7 million in high-value property transactions in May 2025, showing a strong rebound from April, with Nicosia leading the market, according to real estate analytics firm Ask Wire.

Land Registry data revealed that the ten most expensive transactions nationwide reached €38.8m, with the top deal being the €12.5m sale of a plot in Engomi, Nicosia.

Limassol dominated the top 10 list with five sales, while Nicosia and Paphos each reported two transactions, and Larnaca contributed one.

Cyprus’ international investment position (IIP) deteriorated in the first quarter of 2025, recording a net liability of €31.01 billion compared to €29.18 billion in the fourth quarter of 2024.

The figures are based on preliminary data for the first quarter of 2025 released by the Central Bank of Cyprus (CBC), covering the balance of payments, international investment position and external debt.

The Central Bank said the IIP, when adjusted to account for the impact of special purpose entities (SPEs), showed a net liability of €12.92 billion in the first quarter of 2025, up from €11.10 billion in the fourth quarter of 2024.

The general house price index in Cyprus, which includes both houses and apartments, continued its upward trajectory on an annual basis during the first quarter of 2025, according to data published by the Central Bank of Cyprus (CBC).

The increase came amid a slowdown in apartment price growth and a faster pace of increase in house prices.

According to the CBC, the general house price index recorded a quarterly rise of 1.9 per cent in the first quarter of 2025, compared with an increase of 0.4 per cent in the fourth quarter of 2024.

Nicosia’s city centre will be transformed into a vibrant hub of innovation and culture on September 25–26, as INSPIRE 2025 brings together more than 85 distinguished speakers, immersive masterclasses, and live entertainment.

The event will also feature open-air networking spaces in what organisers describe as Cyprus’ largest entrepreneurial festival to date.

Makarios Avenue and the surrounding urban fabric will host a series of themed stages, designed to spark candid conversations about leadership, innovation and purpose-driven business.

The number of registered unemployed persons in Cyprus stood at 9,153 at the end of June 2025, data from the Cyprus Statistical Service (Cystat) showed on Thursday.

On a seasonally adjusted basis, unemployment rose slightly to 9,833 in June from 9,780 in May.

Nevertheless, unemployment dropped by 959 people, or 9.5 per cent, compared with June 2024.

Alphamega hypermarkets signed an agreement to acquire Foody Market, the online supermarket service operating through the leading distribution platform Foody.

The completion of the transaction, however, is subject to approval by the Commission for the Protection of Competition (CPC) of Cyprus.

The acquisition does not include any other areas of Foody’s operations.

Demetra Holdings Plc on Thursday announced its net asset value (NAV) per share as of June 30, 2025, stood at at €2.5494 per share.

Moreover, in a company filing on the Cyprus Stock Exchange (CSE), the company stated that there was no available figure for a fully diluted net asset value.

Demetra Holdings Plc is listed on the regulated market of the CSE. Cleanthis Chandriotis, chief executive officer of Demetra Holdings Plc, signed the statement.

Plastic product manufacturer Lordos United Public Limited held its annual general meeting this week, where shareholders unanimously approved all items on the agenda.

According to a filing on the Cyprus Stock Exchange (CSE), the AGM, which was held at the company’s headquarters in Limassol, endorsed the report of the board of directors and the financial statements for the year ended December 31, 2024.

The proposal of the board not to distribute a dividend for the financial year 2024 was also unanimously approved.

The Cyprus–Greece Business Association and the Cyprus Chamber of Commerce and Industry (Keve) on Thursday announced that they hosted a farewell lunch in honour of outgoing Greek ambassador Ioannis Papameletiou.

Speaking at the event, Cyprus–Greece Business Association president Iosif Iosif described the cooperation with Papameletiou as “extremely close” and praised his contribution to strengthening business and economic ties between Cyprus and Greece.

He said the ambassador played a key role in achieving the long-standing goal of establishing a maritime connection between Cyprus and Greece.