Cyprus Business Now: ICT, sanctions, digital euro, disability care debate, RIF
The association, a member of the Cyprus Chamber of Commerce and Industry (Keve), stressed that its exclusion from the discussion was unacceptable, “especially given its role as the primary institutional representative of the private care sector”.
The association argued that its absence led to a “distorted representation” of the realities faced by private elderly care homes, as well as the ongoing efforts of professionals working in the sector.
Some of the bills have been revised multiple times following consultations and parliamentary discussions before reaching their current form.
The sanctions implementation unit, whose creation hinges upon the approval of the first bill, will be established within the Finance Ministry.
At the meeting, the Cypriot minister also stressed the need to safeguard financial sector resilience.
Keravnos backed the Danish presidency’s efforts to reach an agreement on the Digital Euro, describing it as essential for Europe’s digital transition and for strengthening the bloc’s autonomy and competitiveness.
Now in its fifth year, the gathering has cemented its role as a key platform for idea exchange, partnerships and collaboration.
The event attracted startups, investors, academic institutions, support service providers and public sector bodies in a setting designed to foster connections and showcase the dynamism of Cyprus’ growing innovation community.
Beer exports from factories in Cyprus fell by 24.2 per cent in June 2025 compared to the same month last year, according to data from the Statistical Service (Cystat) this week.
Exports dropped to 245,087 litres from 323,278 litres in June 2024, while domestic consumption edged up by 1.5 per cent to 4,601,840 litres.
As a result, total beer deliveries in June stood at 4,846,927 litres, declined by 0.2 per cent year on year.
Cyprus recorded one of the fastest growth rates for ICT employment in the European Union over the past decade, with the number of ICT specialists rising by an average of 9.2 per cent annually between 2014 and 2024, according to Eurostat.
In particular, the increase was especially strong among women, where employment grew at 13.7 per cent per year, placing Cyprus among the bloc’s top performers.
Across the EU, more than 10 million people worked as ICT specialists in 2024, accounting for 5.0 per cent of all employed people.
According to the announcement, the new agreement is aimed at delivering scalable, high-speed connectivity services to the maritime sector.
The Limassol-based company, which specialises in advanced connectivity and technology solutions for maritime and enterprise clients said that the agreement will enhance its ability to offer VSAT services worldwide by leveraging SES’s Commercial Maritime Service and high-throughput geostationary (GEO) satellite infrastructure.
Cyprus’ trade sector recorded positive growth in 2023, according to the state statistical service’s wholesale and retail trade survey, the results of which were released on Wednesday.
Turnover and employment both increased during the reporting period, although value added at current prices fell slightly due to declining fuel prices.
The report showed that total turnover in the broad trade sector rose by 5.7 per cent, reaching €19.34 billion in 2023, compared to €18.31 billion in 2022.
According to the CSE, trading will be suspended from July 22, 2025 until July 24, 2025, inclusive.
This action is being taken in view of the upcoming delisting of these securities and to allow for the clearing and settlement of all transactions.
These amounts, the announcement stated, relate to completed public offers where the bidder acquired full ownership of the targeted company through the legal process provided for under the Law on Public Takeover Bids.
The CSE clarified that money from past takeovers, which could not be paid to the rightful shareholders, has been placed in a special bank account.