Cyprus is stepping up its air connectivity this summer, with Larnaca and Paphos airports offering an expanded network of destinations across Europe and the Middle East.

The move, driven by Hermes Airports in close partnership with airlines and tourism stakeholders, aims to enhance options for residents and support the island’s growing visitor flows.

Larnaca Airport is adding several direct connections to major cities and emerging holiday spots. Condor has introduced flights to Frankfurt, Zurich and Düsseldorf, while SkyExpress has launched a service to Heraklion.

Property sales in Cyprus recorded an annual increase of 17 per cent in June, driven by a 44 per cent surge in Larnaca, while Nicosia posted the smallest gain at just 2 per cent, according to data released by the land registry.

A total of 1,544 sales documents were filed with land registry offices in June, up from 1,322 in the same month last year. In May, sales had climbed 30 per cent to 1,644 units.

Growth in Limassol slowed to 13 per cent in June, down from 18 per cent in May. Famagusta saw a similar trend, with sales rising 21 per cent compared to 54 per cent the previous month.

Cyprus recorded a 93 per cent employability rate for higher education graduates five years after completing their studies, according to the second cycle of the national graduate tracking mechanism (CYGraduates).

The findings, presented by Education Minister Athena Michaelidou, shed light on graduates’ transition into the labour market, their satisfaction with studies, and the mismatch between qualifications and employment.

The survey shows that 87 per cent of graduates find work within the first year after graduation, with many expressing high levels of satisfaction with their academic experience.

Cyprus’ tertiary sector posted robust gains in 2023, with all branches of economic activity showing growth in production value, value added, and employment, according to the state statistical service.

Specifically, Cystat’s latest services and transport survey showed that production value increased notably in multiple key service areas when compared to 2022.

Transportation and storage activities saw an increase of 6.7 per cent, while accommodation and food service activities rose by 20.5 per cent.

The Cyprus Securities and Exchange Commission (CySEC) has issued a series of announcements concerning regulatory decisions, authorisation status updates, financial settlements, and administrative sanctions involving several Cyprus-based financial firms.

At its meeting held on June 23, 2025, CySEC decided to recall its previous decision to suspend the authorisation of Trek Labs Europe Ltd, formerly known as FTX (EU) Ltd. The company, operating under license number 273/15, had previously been under scrutiny.

However, CySEC stated that it was now satisfied with the company’s compliance with the provisions of the Investment Services and Activities and Regulated Markets Law of 2017. The recall of the suspension was made under paragraph 9(3)(a) of Directive DI87-05 concerning the withdrawal and suspension of authorisation.

Employment in Cyprus’ industrial sector rose by 1.2 per cent in 2023, reaching 42,600 people compared to 42,100 in 2022, according to official figures published in the Survey on Industrial Production 2023.

The largest share of industrial employment was in manufacturing, which accounted for 37,400 jobs.

Mining and quarrying employed 600 people, electricity supply 2,400, and the water supply, sewerage and waste management sector 2,300.

Cyprus recorded the strongest annual growth in retail trade among all EU member states in May 2025, according to updated figures released by Eurostat this week.

Retail turnover on the island increased by 7.9 per cent compared to May 2024, a figure that stands well above the EU average of 1.9 per cent and the euro area average of 1.8 per cent.

This marks the second month in a row that Cyprus has outperformed all other EU countries in terms of annual retail growth.

The Cyprus Stock Exchange (CSE) on Tuesday announced that it recently awarded its academic excellence prize to a top-performing economics student at the University of Cyprus.

The CSE bestows this award every year in memory of its former board chairman Akis Kleanthous.

The exchange said that this award is also part of its “broader contribution to society and commitment to corporate social responsibility“.

Deputy Shipping Minister Marina Hadjimanolis met last week with the president of the Arab Academy for Science, Technology and Maritime Transport (AASTMT), Ismail Abdel Ghaffar Ismail Farag, at the Shipping Deputy Ministry’s offices in Limassol.

According to an announcement released on Tuesday, the visit followed Hadjimanolis’ official trip to Egypt in October 2024.

During her visit, the minister toured the academy’s facilities in Alexandria and signed a Memorandum of Understanding (MoU) aimed at strengthening cooperation in maritime education, research, technology and innovation.

Cyprus’ startup ecosystem took a step onto the global stage as Calspak emerged winner of the Startup World Cup Cyprus Regional Finals 2025.

The company will represent the island at the Grand Finale in San Francisco on October 17, where a $1 million investment prize awaits.

The finals, held at BrainRocket in Limassol, attracted founders, investors and ecosystem leaders for a full day of live startup pitches, expert panels and networking.

Cyprus-based data centre operator CL8 on Tuesday announced the appointment of Kyriacos Kokkinos, former Deputy Minister for Research, Innovation and Digital Policy, as executive advisor to its board of directors.

The announcement mentioned that Kokkinos brings a wealth of experience in technology, innovation policy, corporate governance and high-level executive management.

He currently serves on the boards of several organisations in Cyprus and across Europe.

Electric and hybrid vehicles continued their upward trajectory in Cyprus during the first half of 2025, even though the overall motor vehicle market experienced a slight decline.

According to a report released on Tuesday by the statistical service, electric cars accounted for 4.8 per cent of all newly registered passenger saloon cars in the first half of the year, up from 3.3 per cent in the same period of 2024.

Hybrid cars also strengthened their share significantly, rising to 43 per cent in January to June, up from 37.2 per cent in the corresponding period last year.

Zela Aviation, the aviation company founded by Cypriot entrepreneur Andreas Christodoulides, has announced a strategic partnership with the municipality of Skyros.

This new initiative is aimed at improving the island’s air connectivity and supporting its emergence as a tourism destination in international markets.

This agreement represents Zela Aviation’s third collaboration in Greece in the areas of airport and tourism development, following similar partnerships with the municipality of Sitia in 2022 and the municipality of Syros in 2024.