Cyprus’ Ministry of Finance has set out its strategic objectives, challenges and planned interventions for the coming year in its 2026 budget while also reviewing actions implemented in 2025.

The document groups the main challenges under nine objectives, ranging from macroeconomic stability and fiscal discipline to financial stability, public-sector productivity and preparations for Cyprus’ EU Council Presidency in 2026.

It also includes compliance with the European Commission’s new fiscal governance framework and measures intended to support sustainable growth and job creation.

According to the ministry, each objective is backed by specific policy measures, including steps to address inflation, as the overall aim remains growth and employment.

In this context, the plan details interventions such as a targeted, graduated subsidy for electricity consumption for vulnerable households on the special tariff  and for the bimonthly business tariff, covering the period January 1 to December 31, 2026.

Cyprus’ parliamentary commerce committee is moving towards lowering the turnover threshold for companies eligible for a simple review of financial statements to €400,000, narrowing down the €900,000 level initially proposed by Disy.

The issue returned to the committee on Tuesday after the taxation department, the Central Bank of Cyprus (CBC) and the Association of Cyprus Banks raised objections to the wider expansion.

As a compromise, Disy MP and former party leader Averof Neophytou suggested the lower limit, arguing that the impact on public revenue would remain below 5 per cent of the state’s projected €8.1 billion intake for 2025.

According to figures presented by the tax department, raising the review threshold from €200,000 to €400,000 would place 56,590 companies, or 61.9 per cent of all businesses, under a simple review rather than a full audit.

These companies generated €358.6 million for the state in 2022, with receipts expected at €348.8 million this year.

The 16th Pension Forum in Nicosia examined the critical issues facing Cyprus’ pension system and the new perspectives emerging in a rapidly changing environment, according to the event overview. The forum, titled ‘Making better decisions – New perspectives for the pension’, was held with the support of Eurobank.

According to the discussions, the need for strategic flexibility and know-how has never been more urgent, as technology, investment practices and the regulatory environment continue to change at unprecedented speed.

Pension funds are therefore expected to act both as pillars of security and, in addition, as levers of sustainable economic growth.

In his presentation, Savvas Christodoulou CFA, Manager of Investment Advisory at Eurobank focused on understanding investment strategies, return opportunities and risk management.

He said that the inclusion of securities with low correlation “helps reduce volatility and improve the return/risk ratio”, adding that returns are less affected in cases of large cash flows and that there is better stability during market crises, with outcomes becoming more predictable.

Cyprus has been recognised with the Best Global Climb Award Among EU Countries in the 3rd Edition of the StartupBlink Startup Ecosystem Awards, according to an announcement by StartupBlink, the global mapping and research platform for innovation leaders.

The award, received by the Research and Innovation Foundation (RIF) as the national body for promoting research, innovation and technological development, reflects the joint progress of the wider Cypriot innovation ecosystem.

Moreover, it is attributed to Cyprus for its “impressive rise” in StartupBlink’s Startup Ecosystem Index Global Ranking, marking the largest improvement among all EU member states.

As a result, the distinction signals the island’s ongoing transformation into a competitive European innovation hub, while also pointing to its growing international visibility.

Cyprus is attracting a growing wave of fintech activity as firms take advantage of its EU-regulated framework and strategic location. Among them is ECOMMBX, a licensed Electronic Money Institution (EMI) regulated by the Central Bank of Cyprus (CBC), which has expanded its services across Europe.

Cyprus is emerging as one of the most dynamic innovation hubs on Europe’s financial map.

As a full member of the European Union, with a mature banking framework and a high-standard regulatory environment, the island continues to attract an increasing number of fintech companies that choose to operate from here, leveraging its strategic location and institutional stability.

In this environment, ECOMMBX, a licensed EMI regulated by the CBC, stands out as a symbol of relentless grit and technological innovation.

GDEV Inc., an international gaming and entertainment company headquartered in Limassol, published its unaudited financial and operational results for the third quarter this week, reporting lower revenue but stronger profitability for the period.

GDEV describes itself as a gaming and entertainment holding company focused on development and growth of its franchise portfolio across various genres and platforms. Its subsidiaries include Nexters and Cubic Games, while its franchises, including Hero Wars, Island Hoppers and Pixel Gun 3D, have accumulated more than 550 million installs and $2.5 billion of bookings worldwide.

According to the company, revenue of $98 million decreased by 12 per cent year-over-year, while selling and marketing expenses of $30 million decreased by 43 per cent year-over-year.

It also reported that profit for the period, net of tax, of $24m in Q3 2025 increased vs. $15m in Q3 2024, and that Adjusted EBITDA reached $26m in Q3 2025 vs. $17m a year earlier.

IDEA Innovation Centre of Bank of Cyprus (BoC) has opened applications for its 11th Startup Programme, inviting entrepreneurs who want to turn an innovative concept into a functioning business. Applications will remain open until February 13, 2026.

The organisation, recognised as Cyprus’ largest innovation and business-support hub, is now calling for teams that are developing an innovative product or service, or that are tackling an existing problem in a new way.

To qualify, applicants must have at least two committed team members and show that their idea has the potential to scale beyond Cyprus through technology.

Those selected will join a nine-month programme that brings together funding and structured support.

Promed Bioscience, a biotech company specializing in advanced collagen-based biomaterials for regenerative medicine, has successfully closed a €1.25 million growth financing round led by KV Fund II.

Overall, the investment emphasises KVF II’s commitment to supporting pioneering Cypriot companies with global potential.

This new capital injection will enable Promed to expand production capacity, scale its U.S. commercial activities, and further its entry into international markets, while continuing to advance its proprietary 3D bioprinting and regenerative medicine platforms.

In essence, this means developing collagen scaffolds that act as “bridges” for the body to heal itself.

Already, in its breakthrough entry into the US market through a collaboration with an innovative Stanford spin-off, Promed’s collagen is being used in an FDA-approved medical device designed to facilitate the regeneration of lymphatic vessels and restore flow after surgical lymph node removal.