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Cyprus’ betting market continued its expansion in the third quarter of 2025, with total gross revenue from Class A and Class B operators rising 7 per cent year-on-year to €312.5 million, according to data released by the National Betting Authority (NBA). The figure also marks a 20 per cent increase compared with the same period in 2023. The authority reported that online betting maintained its dominant role during the July to September period. Class B operators generated €235

The Cyprus capital market is expected to maintain a stable growth trajectory in 2026, underpinned by regulatory upgrades, technological progress and enhanced supervisory practices, according to Panikkos Vakkou, Vice-Chairman of the Cyprus Securities and Exchange Commission (CySEC).   Writing in an article originally published by Stockwatch, Vakkou noted that the domestic capital market is moving through a pivotal period of transformation, influenced by European and internatio

Net new loans in Cyprus declined in November 2025, according to a report released this week by the Central Bank of Cyprus. Specifically, net new loans fell to €256.3 million from total new loans of €565.2 million, compared with €429.4 million from total new loans of €624.9 million in October 2025. The Central Bank’s report also included statistical data on average interest rates applied by monetary financial institutions in Cyprus on deposits and loans to euro area residents

Opap shareholders have approved the company’s split and cross-border transformation plan in January 2026, clearing the path for the merger between Allwyn and Opap during the group’s 13th extraordinary general meeting, which saw participation from shareholders representing 80.12 per cent of the company’s paid-up share capital. All agenda items presented at the meeting were approved, with the required majorities secured, according to information provided to shareholders during

At a time of intense international turbulence and widespread uncertainty, Cyprus has demonstrated that it can maintain stability and safeguard its growth prospects, according to Yannis Misirlis, chairman of the Cyprus Property Developers Association. He underlined that the country has shown notable resilience after enduring successive years of pressure, stressing that despite ongoing challenges, the real estate development sector continues to act as a key engine of the nation

The Cypriot economy sustained a strong and steady course through December 29, 2025, with the government managing to steer through a challenging international environment while advancing far-reaching domestic reforms. Globally, uncertainty intensified early in the year as renewed trade frictions surfaced following tariff announcements by US President Donald Trump, reigniting concerns over rising inflation and a potential deceleration in global economic growth. These developmen

Eurobank announced this week that it has repurchased 682,000 of its own shares on the Athens Stock Exchange during the period from December 22 to December 26, 2025, as part of its authorised share buyback programme, a move intended to implement decisions taken by both its shareholders and its board of directors. According to the bank, the shares were acquired at an average price of €3.5172 per share, with the total value of the transactions amounting to €2.4 million. As a res

The Cyprus Chamber of Commerce and Industry (KEBE) has welcomed parliament’s approval of Cyprus’ long-anticipated tax reform, describing it as a decisive step towards modernising the country’s fiscal framework and reinforcing its competitiveness.   In a statement issued on Monday, the chamber said the reform “marks a historic step” in upgrading the tax system at a time when the Cypriot economy is seeking sustainable growth and increased investment. KEBE said the adoption of t

Cyprus has once again increased the proportion of renewable energy in its gross final energy consumption, according to the latest data released by Eurostat, underscoring steady progress in the country’s energy transition at a time when the European Union as a whole continues to lag behind its long-term climate objectives.   Eurostat data show that renewable sources accounted for 25.2 per cent of gross final energy consumption across the EU in 2024. This represents a rise of 0

Hourly labour costs in Cyprus rose by 3.5 per cent in the third quarter of 2025, placing the country close to the European Union average and reflecting ongoing wage and cost pressures faced by employers across Europe, according to the latest figures released by Eurostat.   Data from the EU’s statistical office show that during the same period, hourly labour costs increased by 3.3 per cent in the euro area and by 3.7 per cent across the EU as a whole, compared with the third q

Greece has taken another step in shedding the legacy of its sovereign debt crisis by repaying a portion of its eurozone bailout loans well ahead of schedule, a move aimed at strengthening investor confidence and reducing long-term borrowing costs.   This week, Athens completed the early repayment of €5.3bn in loans issued under the first eurozone bailout programme. These obligations were originally set to mature after 2031, with some extending into the 2040s. Paying them down

Cyprus is facing an increasingly severe housing challenge that is placing growing pressure on young people and first-time homebuyers, according to the Cyprus Borrower Protection Association (Syprodat), which is urging swift and meaningful action as the European Union steps up efforts to address rising housing costs across the bloc.   This week, Syprodat said a newly unveiled European Commission initiative on affordable housing underscores the urgent need for comprehensive and

Cyprus and Vietnam took another significant step in deepening their bilateral relationship on   Wednesday, signing a double taxation avoidance agreement aimed at enhancing economic cooperation and curbing tax evasion related to income taxes.   The agreement was formalised at the finance ministry in Nicosia and was signed by Cyprus’ Finance Minister Makis Keravnos and Vietnam’s Deputy Minister of Finance Cao Anh Tuan.   The convention is designed to provide greater clarity and

Eurobank announced on Wednesday that it has officially stepped into the role of principal employer for the MAP multi-employer provident fund based in Nicosia, a change that took effect on December 8. The bank characterised the move as a clear expression of confidence in the Cypriot economy and its long-term growth prospects.   “This development constitutes a significant upgrade for the fund and is expected to contribute substantially to the further enhancement of MAP’s corpor

Eurobank and National Bank of Greece (NBG) have emerged at the top of European banking rankings for return on equity, according to a pan-European report by UBS, underscoring the sustained profitability and resilience of the Greek banking sector. The findings, shared by Greek business outlet Newmoney, place both Eurobank and NBG firmly in the upper echelons of the European ranking for return on equity, reflecting gains that are “not a cyclical phenomenon but is instead the res

Cyprus’ parliamentary commerce committee is moving closer to approving a reduction in the turnover threshold that determines whether companies can undergo a simple financial statement review rather than a full audit, settling on €400,000.   This represents a significant narrowing from the €900,000 level originally proposed by Disy.   The matter returned to the committee on Tuesday after the taxation department, the Central Bank of Cyprus (CBC) and the Association of Cyprus Ba

The 16th Pension Forum in Nicosia placed the spotlight on the major challenges confronting Cyprus’ pension system, while also exploring fresh perspectives arising in an environment undergoing rapid transformation, according to the event overview.   The forum, titled ‘Making better decisions – New perspectives for the pension’, took place with the support of Eurobank.   During the discussions, speakers emphasised that the demand for strategic flexibility and specialised expert

The Republic of Cyprus registered a double vote of confidence in the resilience of its economy this week, as both Moody’s and Fitch upheld the country’s investment-grade standing—while Fitch went a step further by shifting Cyprus’ outlook to “positive.” In a written statement, Finance Minister Makis Keravnos emphasized that these decisions reflect “the international houses' confidence in the government's fiscal performance and prudent economic policy.” In his official announc

S&P Global Ratings shifted its outlook for the Cypriot economy to “positive” from “stable” late on Friday, pointing to a faster-than-anticipated improvement in the country’s external debt metrics.   The agency confirmed the Republic of Cyprus’ credit score at “A-/A-2” for both long-term and short-term obligations, in domestic and foreign currency.   According to S&P, the upgraded outlook reflects its expectation that Cyprus’ external position will exceed current forecasts ove

Cyprus ranked among the European Union member states where foreign-controlled companies accounted for the smallest share of employment and economic output in 2023, according to data published by Eurostat on Wednesday. Despite the significant overall impact of foreign-controlled enterprises across the EU, their presence in Cyprus remains comparatively limited. Based on figures that include both employees and self-employed individuals, foreign-controlled enterprises in Cyprus r