Cyprus Business Now: high-value property sales, tourism budget, SME scheme
Projections estimate requirements at around three per cent of GDP in 2025 and 2026, and at approximately 4.5 per cent in 2027, according to a financial outlook report by the Finance Ministry.
The report showed that gross financing needs are expected to be approximately €1.1 billion in both 2025 and 2026, increasing to around €1.7 billion in 2027.
In addition, the ministry highlighted that the country’s cash reserves are robust, covering the next nine months of financing requirements.
The budget outlined the ministry’s strategies to boost the tourism sector through targeted advertising, strategic partnerships, and sustainable development projects.
A significant portion of the budget is earmarked for high-priority advertising campaigns to draw attention to Cyprus as a key destination for various types of tourism, including conference, wedding, religious, golf, and rural tourism.
The ministry also intends to strengthen its relationship with international partners, including airlines, to improve connectivity and reach.
The district accounted for six of the ten most expensive transactions, including a €5 million field in Yermasoyia.
Its analysis shows that Limassol secured most high-value deals, accumulating €18.5 million in sales.
Following Limassol, Paphos recorded two transactions worth €6.5 million, while Nicosia and Larnaca each had one sale, valued at €2.9 million and €1.8 million, respectively.
The scheme aims to provide support for energy efficiency improvements in existing buildings and facilities.
According to the announcement, this measure, funded with a budget of €19 million, will run until December 31, 2026.
Eligible participants include both new and established small and medium-sized enterprises (SMEs).
A recent briefing from Norton Rose Fulbright’s Philip Roche and Kelli Bodal Hansen gives emphasis to that FuelEU’s impact will extend to owners, charterers, and ship managers alike.
They warn that “there is much for shipowners and operators to consider” with FuelEU.
Invited by Egypt’s Minister of Transport, the Cypriot minister will engage in key meetings in Cairo and Alexandria.
According to an official statement, Hadjimanolis “will meet with the President and CEO of the Suez Canal Authority” to explore further collaboration between the two countries, particularly around enhanced maritime connectivity and shared initiatives.
Following her engagements in Cairo, Hadjimanolis will head to Alexandria at the invitation of the Arab Academy for Science, Technology and Maritime Transport (AASTMT).
They stressed the need for new infrastructure to eventually upgrade these units to a combined-cycle system to improve operational efficiency.
The unions said their statement was “a response to the energy policies of the ministry”, which they describe as “inconsistent and contradictory” and which they say have affected electricity costs.
The Cyprus Stock Exchange (CSE) ended Tuesday, October 29 with losses.
The general Cyprus Stock Market Index stood at 198.48 points at 12:17, reflecting a decrease of 0.23 per cent.
The FTSE / CySE 20 Index was at 120.92 points, also showing a decline of 0.23 per cent.
The total value of transactions amounted to €223,287 at the aforementioned time during trading.
In terms of the sub-indexes, the main market and alternative market indexes decreased by 0.15 per cent and 0.54 per cent, respectively, while the investment firm and hotel indexes showed no change.
The biggest investment interest was attracted by Hellenic Bank with €95,883 (down by 0.50 per cent), Bank of Cyprus with €66,567 (no change), Demetra Holdings with €30,195 (no change), Logicom with €12,672 (down by 0.69 per cent), and The Cyprus Cement Public Company with €7,928 (down by 1.32 per cent).