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

Strengthening player safety through an effective fight against the illegal gambling market and building public trust were emphasized as key priorities by the President of the National Betting Authority (NBA), Panagiotis Trisokkas, who represented the Authority at the SiGMA Central Europe Summit held in Rome from November 4 to 6. The SiGMA Central Europe Summit, one of the leading international gatherings in the gaming sector, brought together thousands of professionals, regul

The Bank of Cyprus announced on Tuesday that it achieved a profit after tax of €353 million for the nine months ended September 30, 2025, maintaining stable profitability and reinforcing shareholder confidence amid continued economic resilience. “We are pleased to announce another set of strong financial results, generating in the first nine months of 2025 a profit after tax of €353m,” said Bank of Cyprus CEO Panicos Nicolaou. “This performance reflects the resilience of our

The National Bank of Greece (NBG) has announced that, following meetings of its Board of Directors held on September 18 and October 22, 2025, it will distribute an interim dividend to shareholders for the 2025 financial year, underscoring the bank’s robust profitability and commitment to enhanced shareholder returns. A total gross amount of €200 million will be distributed in cash, equivalent to €0.2186 per share. This figure will be adjusted to include shares held by the ban

Revolut has officially selected Cyprus as the central base for its European digital asset operations, following the company’s acquisition of a Markets in Crypto-Assets (MiCA) licence from the Cyprus Securities and Exchange Commission (CySEC) through its local entity, Revolut Digital Assets Europe Ltd. This newly granted authorization signals the beginning of a significant new chapter for both Revolut and Cyprus, as the MiCA regulation introduces a comprehensive European frame

The Cyprus Stock Exchange (CSE) has announced its intention to proceed with the delisting of European Medium-Term Notes (EMTN) after the securities reached maturity and were fully repaid. The decision, according to the CSE, follows an official request made by the Ministry of Finance. The notes in question are the European Medium-Term Notes with an expiry date in 2025, carrying an interest rate of 4.25 per cent and identified by the code EMTN1125. The exchange confirmed that t

The Cyprus Real Estate Development Association has expressed strong approval for the unanimous decision by the House of Representatives to pass new legislation establishing a framework for the regulation of foreign direct investments (FDI). The law signifies Cyprus’ full alignment with the European Union’s screening regulation, aimed at enhancing oversight of foreign investments that may impact national security. Under the new legal framework, Cyprus will introduce stricter c

The Cyprus Securities and Exchange Commission (CySEC) has announced that it is temporarily halting the publication of its Certification Registers and certification examination results following the discovery of identity fraud incidents involving these records. According to the commission, certain individuals have been found unlawfully using the personal data of people listed in the Certification Registers or mentioned in the announcements of examination results, with the inte

Bank of America (BofA) Securities reaffirmed its optimistic stance on the Greek banking sector this week, highlighting that the industry is currently undergoing a transitional period as markets focus on the trough for net interest income and the emergence of a new merger and acquisition (M&A) cycle. Despite projections of a 19 per cent quarterly decline in net profits for the third quarter, BofA emphasized that investors are likely to concentrate on the medium-term outlook an

The Cyprus Securities and Exchange Commission (CySEC) has announced the adoption of new joint guidelines that require financial entities to assess and report the aggregated annual costs and losses resulting from major Information and Communications Technology (ICT)-related incidents, in line with the Digital Operational Resilience Act (DORA Regulation). In a circular distributed on Wednesday, the commission informed a broad spectrum of supervised financial entities that it ha

Greece is rapidly emerging as one of the world’s most desirable destinations for the wealthy, placing itself firmly within the top 10 choices for high-net-worth individuals amid what economists are calling the “Great Millionaire Migration.” Each year, thousands of affluent individuals relocate across borders, bringing with them not only immense personal fortunes but also business operations, family offices, and cultural influence. Experts describe this global trend as a trans

Government debt as a percentage of gross domestic product (GDP) increased across both the euro area and the wider European Union (EU) at the close of the second quarter of 2025, according to a report released by Eurostat on Tuesday. The statistical office highlighted, however, that Cyprus recorded one of the most notable decreases over the year. For the 20-nation euro area (EA20), the general government gross debt to GDP ratio reached 88.2 per cent at the end of Q2 2025, risi

Autonomous Research has issued a more cautious outlook on Greek bank stocks, warning that much of the sector’s optimism has already been reflected in current valuations. The independent research and analysis firm noted that, while fundamentals remain strong, the rally that lifted the country’s banking sector through 2024 and 2025 appears to be entering a mature phase. Following a recent field visit to Athens, the firm concluded that “the Greek banking story has entered a phas

Significant changes have emerged in the latest update of the Henley Passport Index for 2025, which evaluates 199 passports based on International Air Transport Association (IATA) data, ranking them according to the number of destinations accessible without a visa. According to the most recent figures, the United States passport, once a dominant force in global mobility and a fixture among the top ranks for two decades, has now fallen to 12th place. Meanwhile, the Greek passpo

The Cyprus Securities and Exchange Commission (CySEC) has issued an official update involving three regulated entities, detailing the withdrawal of a Cyprus Investment Firm (CIF) licence and the initiation of liquidation procedures for two separate investment fund compartments. In its announcement, CySEC confirmed that on October 13, 2025, it decided to withdraw the CIF authorisation of BrightPool Ltd, which held authorisation number 378/19. The decision followed the company’

The Cyprus Gaming and Casino Supervisory Authority (CGCS) has confirmed that it is actively examining the possibility of regulating and licensing online casinos in the country, a topic that has been under consideration for some time. In a statement issued today, the CGCS highlighted that it is reviewing international regulatory practices as well as assessing whether the exclusivity granted by existing legislation and the agreement for the operation of the Integrated Casino Re

Cyprus and the United Arab Emirates have reaffirmed their shared commitment to deepening bilateral economic relations and advancing investment cooperation during a high-level meeting in Dubai on Wednesday. The discussions took place between Cyprus’ Minister of Energy, George Papanastasiou, and the UAE Minister of Economy, Abdulla bin Touq Al Marri, underscoring both nations’ intent to strengthen ties across trade, energy, and innovation. According to the Cyprus Ministry of En

The International Monetary Fund (IMF) has revised upward its economic growth outlook for Cyprus, projecting stronger performance over the next two years while anticipating a sharp decline in inflation. In its October World Economic Outlook, the IMF forecast that Cyprus’s GDP will expand by 2.9 per cent in 2025 and 2.8 per cent in 2026, marking an improvement from April’s estimates of 2.5 per cent and 2.7 per cent respectively. The latest figures indicate a more optimistic ass

The United States Treasury Department’s Office of Foreign Assets Control (OFAC) announced on Tuesday, October 14, 2025, that two individuals who obtained citizenship through Cyprus’s former Investment Program have been added to the US sanctions list. Chen Zhi and Yang Jian were included in the Specially Designated Nationals (SDN) List under Executive Order 13581, meaning that any assets they hold under US jurisdiction are blocked and US persons or entities are prohibited from