Cyprus Business Now: cost of living, shipping, influencers, housing, budget
“The debate surrounding housing pressure among young people has moved beyond diagnosing the problem to seeking sustainable, scalable solutions,” they said.
At the same time, they added that across many European markets, and increasingly in Cyprus, traditional housing development alone is no longer sufficient to meet demand, particularly for students and young professionals at the beginning of their financial independence.
Against this backdrop, they noted that “the Build-to-Rent model is gaining momentum.” Under this approach, as they said, homes are designed and developed from the outset specifically for long-term rental rather than immediate sale or short-term use.
The decision clears the financing granted by the Republic to the Cyprus Sports Organisation (KOA), which owns and manages the stadium, as well as the licensing terms agreed with Apollon Limassol, AEL Limassol and Aris Limassol.
The first measure concerns public funding amounting to €44.5 million for the construction of the stadium, completed in 2022.
The new facility replaced the city’s old ground, which no longer met modern safety and technical standards and could not be upgraded to host international competitions.
According to the commission, the stadium “offers a modern and safe sports facility for professional football,” while at the same time it “can also host events of public interest, such as educational and cultural activities,” thereby enhancing sports infrastructure and the broader cultural life of Limassol.
The study found that severe dust events can reduce the sunlight reaching photovoltaic (PV) systems, and hence lower electricity production, by more than 20 per cent on otherwise clear-sky days.
It was conducted by researchers at the Climate and Atmosphere Research Center (CARE-C) of the Cyprus Institute, in collaboration with the Cyprus University of Technology (Tepak) and industry partners.
According to its statement, the findings are of particular importance for Cyprus, given the growing frequency and intensity of dust outbreaks.
Crucially, the largest losses occur during otherwise clear-sky conditions, when solar generation would normally be strong.
According to the CBC, the initiative forms part of a broader effort by the central bank to enhance public information and transparency around economic developments and the role of central banks more generally.
Through the new blog, the bank seeks to provide timely and accessible analysis on matters relating to the economy, financial stability, monetary policy and the wider field of central banking.
The blog will feature technical and signed articles authored by members of the bank’s staff, offering insight grounded in professional expertise and institutional experience.
The CBC added that the objective is to deliver credible, well-documented and comprehensible information to specialists, journalists and the wider public.
In a statement, the chamber described the convention, which turned 20 on February 23, 2026, as a milestone that has reshaped global shipping by setting comprehensive standards for the working and living conditions of seafarers.
It said the MLC is now widely regarded as the most successful international maritime labour convention implemented to date.
The chamber added that the MLC 2006 has become the “fourth pillar” of the international regulatory framework for shipping, complementing the core conventions on safety and environmental protection.
Across 31 European countries, average wealth per adult ranges from €29,923 in Turkey to €634,584 in Switzerland.
Within the European Union, the spread remains substantial, from €44,568 in Romania to €523,591 in Luxembourg.
Net wealth is defined as the total value of a household’s financial and real assets, mainly housing, after deducting debt.
Switzerland and Luxembourg are the only countries where average wealth exceeds €500,000 per adult, at €634,584 and €523,591 respectively. Denmark ranks third with €444,898.
Average wealth also exceeds €300,000 in the Netherlands (€342,477), Norway (€340,364), Belgium (€322,805), the United Kingdom (€313,840) and Sweden (€308,935).
Founder and owner of ELIDI Securities Ltd since 2016, he has overseen the growth of a Cyprus-based, EU-regulated brokerage serving international investors, family offices and entrepreneurs seeking stable access to European markets.
Having arrived in Cyprus ten years ago, Adilbaev has witnessed first-hand the island’s transformation into a hub for technology firms, high-net-worth individuals and cross-border capital flows.
In this interview with the Cyprus Mail, he discusses what makes Cyprus competitive against other EU jurisdictions, how strict regulation can become a strategic advantage, the shifting investment preferences of sophisticated clients, and why stability, diversification and technology will define the next chapter of the island’s financial evolution.
The bank informs the public that these transactions were conducted within the framework of its established share buyback programme, according to an official announcement.
The current initiative follows a resolution of the bank’s board of directors dated October 22, 2025.
It serves as a continuation of the respective share buyback programme of Eurobank Ergasias Services and Holdings S.A. which was approved by the resolution of its ordinary general meeting of shareholders held on April 30, 2025.
The bank confirmed the commencement of the current scheme following its announcement on December 12, 2025.
Total revenues for 2025 amounted to €10.20 billion, representing 87 per cent of the budgeted amount, compared to €10.81 billion and a 96 per cent implementation rate in 2024.
Actual expenditures reached €11.99 billion, which corresponds to an implementation rate of 92 per cent, slightly higher than the 91 per cent recorded in 2024 when spending stood at €12.42 billion.
The Treasury reported that over the last decade, the average implementation rate for total state budget expenditure has remained steady at 91 per cent.
Revenues showed a decrease from the previous year primarily due to a €1.07 billion drop in loan withdrawals, which was partially offset by increases in direct and indirect taxes.
Once dismissed as a passing trend, influencer marketing has evolved into a dominant advertising channel.
Globally, the sector is expected to surpass $30bn this year, up from around $24bn in 2024, reflecting how strongly online personalities now shape consumer behaviour and purchasing decisions.
In the past, product promotion was largely the domain of celebrities, artists and athletes who appeared in traditional advertisements.
Today’s influencers, however, hold a different kind of power. They may not be household names, yet they maintain daily, direct interaction with their followers, cultivating a relationship that is intimate, two-way and commercially effective.
Specifically, the European Union’s statistical office reported that 23.8 per cent of transport employment in Cyprus in 2023 was accounted for by companies under foreign-controlled multinational enterprise groups.
The figures, drawn from the EuroGroups register, show that across the EU some 1.3 million people were employed by transport and storage enterprises belonging to foreign-controlled multinational enterprise groups.
This marked an increase of 30 per cent compared with 2018, highlighting the growing footprint of foreign-controlled firms in the sector.
The initiative, titled Wine Company Mission at Vinitaly 2026, is scheduled to take place between April 12, 2025, and April 15, 2025, in the city of Verona.
The special agency of the Naples Chamberof Commerce, Industry, Agriculture and Handicraft and Unioncamere Piemonte are organising the event as members of the Enterprise Europe Network.
This programme is part of broader actions to strengthen international business cooperation and connect local companies with suppliers from abroad.
During 2024-2025, both public and private institutions shifted towards a more outward-looking approach, seeking to align academic output with economic priorities.
The emphasis has moved beyond theory, towards applied knowledge, employability and innovation, reflecting the needs of a digital and increasingly technology-driven economy.
At the same time, student sponsorship has been modernised. The annual budget has risen to €62 million, the number of beneficiaries has expanded and income and property criteria for families with five or more dependent children have been abolished.
The conference will be held under the auspices of the Cyprus Ministry of Education, Sports and Youth.
The event, titled Strengthening Career Guidance especially those of girls in the fields of Information Technology and STEM, will take place from 08:00 to 14:00 and will be conducted in Greek.
It is being organised by the Cyprus Computer Society (CCS) and the Council of European Professional Informatics Societies (CEPIS) in cooperation with ten public and private universities in Cyprus.
The figures, drawn from official statistics on international trade in services by modes of supply, show that the bulk of EU service imports were channelled through commercial presence within the reporting country.
Across the bloc, 58.9 per cent of total service imports, amounting to €2.044 trillion, were delivered in such a fashion.
A further 31.3 per cent, valued at €1.087 trillion, were supplied through cross-border supply.
Moreover, consumption abroad accounted for 6.6 per cent of imports, equivalent to €229 billion.