Cyprus Mail - Business & Finance

17/08/2025

Here are the top business stories in Cyprus from the week starting August 11.

Here are the top business stories in Cyprus from the week starting August 11: The Cyprus Chamber of Commerce and Industry (Keve), in its role as coordinator of the Enterprise Europe Network Cyprus, will host a women’s business delegation from Lithuania on September 24, 2025. The event, which will ...

16/08/2025

"The trade agreement between the EU and the United States was greeted as a humiliating event in European media. European Commission President Ursula von der Leyen met President Trump at his Scottish golf course in a display reminiscent of master and vassal. There was no real negotiation—von der Leyen simply capitulated to Trump’s demands. Europe didn’t lack bargaining power; it consciously chose not to exercise it. This decision can only be understood in a geopolitical context where Europe, divided and uncertain, is sacrificing its economic sovereignty for a tenuous promise of security. Its future course may be unsustainable within its current organizational structure."

16/08/2025

Cyprus risks losing trust as ambitious projects are announced but fail to materialise on time.

By Yury Palevich, ex-Product Director at inDrive For too long, Cyprus has relied on a narrow image — sun, sea, and a lot of tourists. But in a world where global mobility is accelerating and talent gravitates toward clarity and vision, it’s time to evolve. While Cyprus has managed to…

15/08/2025

Invest Cyprus aims to attract global tech firms through strategic partnerships and a focus on innovation.

Invest Cyprus is positioning the island as a leading technology investment hub through strategic partnerships, targeted incentives, and a strong focus on innovation and digital transformation. In this interview with the CEO Marios Tannousis, we explore their proactive approach to attracting internat...

15/08/2025

A Cyprus-headquartered gaming platform has moved quickly to take advantage of Epic Games’ courtroom victory over Google, launching its own Android store to offer developers and players a new distribution option.

A Cyprus-headquartered gaming platform has moved quickly to take advantage of Epic Games’ courtroom victory over Google, launching its own Android store to offer developers and players a new distribution option. According to an announcement released on Thursday, Skich Store, headquartered in Limas...

15/08/2025

Efforts to upgrade the electricity system have been intensified particularly due to the continuous strain on conventional power generating units during the summer months, the energy ministry said on Wednesday evening.

The increased demand for electricity has now reached its highest level during peak hours from 6pm to 9pm, the ministry said, adding that this was due to increased temperatures recorded in recent years.

According to the ministry, electricity demand rose by 11 per cent this summer compared to the same period last year, climbing from 940 to 1,040 megawatts.

Efforts to upgrade the electricity system have been intensified particularly due to the continuous strain on conventional power generating units during the summer months, the energy ministry said on Wednesday evening. The increased demand for electricity has now reached its highest level during peak...

14/08/2025

Cyprus businesses are being urged to participate in a European Commission public consultation on draft guidelines for foreign subsidies that could distort the EU internal market.

The Cyprus Chamber of Commerce and Industry (Keve), which acts as the coordinator of Enterprise Europe Network in Cyprus, announced the consultation, emphasising its importance for companies that receive funding from outside the EU.

“This public consultation is a key opportunity for businesses to shape policies that will influence the future of our market and economy,” said Soti Christou, officer at Keve’s department of services, trade and digitalisation, said.

Cyprus businesses are being urged to participate in a European Commission public consultation on draft guidelines for foreign subsidies that could distort the EU internal market. The Cyprus Chamber of Commerce and Industry (Keve), which acts as the coordinator of Enterprise Europe Network in Cyprus,...

14/08/2025

Cyprus business wrap-up from August 13.

Cyprus recorded strong growth in manufacturing, trade and tourism during the first half of 2025, according to the state statistical service’s latest bimonthly bulletin. The bulletin presents the most important economic developments for the Cyprus economy for the latest mon...

14/08/2025

Maritime company Safe Bulkers Inc., led by Cypriot shipowner Polys Hajioannou, listed on the New York Stock Exchange, has agreed to sell the MV Pedhoulas Merchant, with a Cypriot flag, a 2006 Japanese-built Kamsarmax-class dry-bulk vessel, for $11.5 million, with delivery scheduled for September 2025.

President Loukas Barmparis said that with this agreement, the company wound up the sale of its two oldest Kamsarmax vessels, Pedhoulas Merchant built in 2006 and Pedhoulas Leader built in 2007.

“We executed our strategy to renew our fleet in view of the four newbuilds expected to be delivered to us within 2026. The aggregate orderbook of the company consists of six vessels until 2027,’’ he added.

Maritime company Safe Bulkers Inc., led by Cypriot shipowner Polys Hajioannou, listed on the New York Stock Exchange, has agreed to sell the MV Pedhoulas Merchant, with a Cypriot flag, a 2006 Japanese-built Kamsarmax-class dry-bulk vessel, for $11.5 million, with delivery scheduled for September 202...

14/08/2025

Headquartered in Cyprus, Nexters is best known for Hero Wars, the popular RPG launched in 2016 that has enjoyed steady growth and a remarkable run in the charts.

Since 2019, the title has consistently ranked among the top 100 grossing games on US iOS, a testament to its long-term resilience in a competitive market. Nexters operates as part of GDEV Inc., a global gaming company based in Limassol.

According to Altti Fromholdt, Game Growth Dev specialising in deconstruction, game design, monetisation and retention, who wrote on the GameRefinery website, Hero Wars has achieved its success through a dynamic and expanding live event strategy and continuous iteration on core features.

He added that the introduction of diverse monetisation events and strategic collaborations has helped keep players engaged and spending.

Headquartered in Cyprus, Nexters is best known for Hero Wars, the popular RPG launched in 2016 that has enjoyed steady growth and a remarkable run in the charts. Since 2019, the title has consistently ranked among the top 100 grossing games on US iOS, a testament to its long-term resilience…

13/08/2025

The European Commission has launched a public consultation to develop a new strategy for housing construction as part of the European plan for affordable housing.

The Cyprus Chamber of Commerce and Industry (Keve) this week briefed Cypriot businesses about the initiative through a dedicated announcement.

According to the announcement, the initiative seeks to strengthen the competitiveness and productivity of the construction ecosystem while meeting the growing demand for housing through new, renovated, and repurposed homes.

The proposed strategy sets out measures to promote innovative construction techniques through standards for construction products.

The European Commission has launched a public consultation to develop a new strategy for housing construction as part of the European plan for affordable housing. The Cyprus Chamber of Commerce and Industry (Keve) this week briefed Cypriot businesses about the initiative through a dedicated announce...

13/08/2025

MHA, a professional services provider of audit, tax, accountancy and advisory services, has completed the acquisition of Baker Tilly South-East Europe (BTSEE) in a deal valued at up to €24 million, according to the company.

The acquisition, first announced to the London Stock Exchange on May 7, is MHA’s first as a listed business and gives it an immediate and significant presence in Continental Europe.

BTSEE operates seven offices across Cyprus, Greece and the wider South-East Europe region, employing more than 400 professionals and 12 partners. It reported revenues of €19.4m in 2024, growing at a compound annual rate of 9 per cent over the past four years.

MHA, a professional services provider of audit, tax, accountancy and advisory services, has completed the acquisition of Baker Tilly South-East Europe (BTSEE) in a deal valued at up to €24 million, according to the company. The acquisition, first announced to the London Stock Exchange on May 7, is...