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Stek Renews Call For Tougher Action On Illegal Short-Term Rentals
The Association of Cyprus Tourist Enterprises (Stek) has renewed its call for stricter oversight of short-term holiday rentals, arguing that a recent Audit Office report confirms long-standing concerns about weak regulation and enforcement. Audit Findings Reinforce Long-Standing Concerns According to Stek, the report exposes significant shortcomings in the s
SpaceX Shares Slide Back To IPO Price As Post-Debut Rally Fades
SpaceX shares fell back to just above $135 on Wednesday, returning to roughly the price set by Elon Musk and the company ahead of the blockbuster June 12 public offering, which raised nearly $86 billion. After trading below the IPO price for much of the session and dipping under $133 at one point, the stock […]
Stripe And Advent Reportedly Bid To Buy PayPal In $53.4 Billion Deal
Stripe and private equity firm Advent International have reportedly submitted a joint bid to acquire PayPal in a deal valued at about $53.4 billion, according to Reuters. The offer, backed by roughly $50 billion in committed bank financing, was reportedly submitted earlier this month. A Potential Combination Of Two Payments Heavyweights If completed, the tra
Cyprus Innovation Leaders Gather For RIF’s Annual The Bash 2026
More than 200 leaders from Cyprus’ research, innovation and entrepreneurship community came together on Tuesday for The Bash 2026, the annual flagship networking event of the Research and Innovation Foundation (RIF). Held under the theme “Let’s Cheers to Innovation Together!”, the gathering brought into one room the startups, scaleups, investors, academics,
Cyprus Growth Slows To 3% As Imports Weigh On Net Exports, While Construction Remains A Key Support
The Cypriot economy grew 3.0% year on year in the first quarter of 2026, marking its slowest pace in 10 quarters as a rebound in imports reduced the contribution from net exports. Domestic demand, however, remained resilient, supported by stronger private consumption, low unemployment and continued strength in residential investment. Imports Dampen First-Qua
CySEC Urges Regulated Firms To Help Shape New EU AML Rules
The Cyprus Securities and Exchange Commission (CySEC) is encouraging regulated entities to participate in two public consultations launched by the European Anti-Money Laundering Authority (AMLA), as the European Union moves to strengthen and harmonise its anti-money laundering framework. Covering draft technical standards, the consultations will help shape h
Russians Accounted For Half Of Foreign Property Purchases In Cyprus In 2025
Russian buyers accounted for 51% of foreign residential property purchases in Cyprus in 2025, according to a report published by Russian business magazine Business Petersburg. Cyprus Retains Its Pull For Russian Capital Despite European sanctions and tighter banking controls, Cyprus continues to attract Russian property buyers. According to the report, the i
Only 63.9% Of Young Cypriots Have Basic Digital Skills, Eurostat Finds
Cyprus continues to lag behind the European Union average in digital skills among young people, even as the bloc records steady progress in digital literacy. New Eurostat data released on Wednesday also show that Cyprus has the widest gender gap in the EU, with young women significantly outperforming young men. Cyprus Falls Short Of The […]
How Permitting Delays Add €60,000 To The Cost Of A New Apartment In Cyprus
Planning and permitting delays are quietly becoming one of the biggest cost drivers in Cyprus’s housing market, adding an estimated €60,000 to the price of the average new apartment without increasing developers’ profits. That is the warning from Yiannis Misirlis, chairman of the Cyprus Property Developers Association (CPDA), who argues that delays, rather t
Economist Welcomes Return Of Cooperative Bank As Cyprus Weighs Competition And Access
Plans to revive Cyprus’ cooperative banking model could strengthen competition in the country’s financial sector, improve consumer choice and deliver broader economic benefits, according to Argyris Alexandrou, president of the Cyprus Association of Economics Teachers. His comments come as efforts to re-establish the Pancyprian Cooperative Bank enter a key fu
David Beckham-Backed IM8 Secures Up To $1 Billion In Non-Dilutive Funding
David Beckham-backed startup IM8 has secured up to $1 billion in financing from General Catalyst’s Customer Value Fund, according to a company announcement on Tuesday. How General Catalyst’s Customer Value Fund Works The financing is not a traditional venture capital investment. Instead, General Catalyst’s Customer Value Fund (CVF) provides non-dilutive grow
Spotify Brings Interactive AI Conversations To Its Listening Experience
Spotify Expands Its AI Playbook Spotify is taking another step toward making artificial intelligence a core part of how users discover and control audio. On Tuesday, the company announced that Premium subscribers can now hold interactive conversations with the app to find music, podcasts and audiobooks. The feature is rolling out in beta to English-speaking
Cyprus Faces One Of Europe’s Widest Gaps In Home Energy Efficiency Upgrades
Cyprus has emerged as one of the European Union’s clearest examples of how the benefits of the energy transition are not being shared evenly. A Wider Divide Than Most Of Europe New Eurostat data show that 30.3% of Cypriots not at risk of poverty or social exclusion lived in homes that had undergone energy efficiency […]
How Minimum Pensions Compare Across The European Union: A Wide Gap From €250 To €2,350
Minimum Pensions In Europe Reveal A Deep Policy Divide As Cyprus continues discussions on pension reform, with Labour Minister Marinos Moushiouttas considering planned increases to minimum pensions, new parliamentary research highlights just how differently European Union countries support retirees. A study prepared by the Cyprus Parliament Research Service
TikTok Defends Safety Measures As Europe Tightens Social Media Rules For Teens
TikTok is mounting a public defence of its safety record as European policymakers step up efforts to restrict children’s access to social media, increasing pressure on major platforms to demonstrate that they can protect younger users. Pressure Builds Across Europe Speaking to CNBC’s Squawk Box Europe, Ali Law, TikTok’s director of public policy and governme
Cyprus Joins ECB Digital Euro Pilot As Bank Of Cyprus And JCC Payment Systems Selected
The Central Bank of Cyprus has welcomed the selection of Bank of Cyprus and JCC Payment Systems for the European Central Bank’s digital euro pilot, giving Cyprus a direct role in testing the bloc’s proposed digital currency. Both Cyprus-based payment service providers are among 36 institutions selected across the euro area to participate in the […]
Cyprus Cooperative Bank Launch Hinges On €42 Million Public Offering
The effort to establish a new cooperative bank in Cyprus has entered its most decisive phase, with a public share offering aimed at raising €42 million now serving as the gateway to securing a banking licence and launching operations. Published by Phileleftheros, the prospectus of Pancyprian Cooperative Holdings and Promotion of Cooperativism Limited outline
Cyprus And Lebanon Move To Advance Long-Planned Electricity Interconnection
Cyprus and Lebanon are taking a significant step toward a long-discussed electricity interconnection project that could reshape energy links across the eastern Mediterranean. Formal Request To The World Bank According to reliable information, the two governments are expected to sign a joint letter within days requesting World Bank financing for an undersea e
Waze Adds Gemini AI, Smarter Navigation And New Motorcycle Mode
Waze is rolling out a major upgrade to its navigation platform, introducing AI-powered features, deeper personalisation and new tools designed to make driving less distracting and more responsive to real-world conditions. Google Brings Gemini Deeper Into Waze The Google-owned app is integrating Gemini, Google’s AI assistant, as part of the company’s broader
Keo Awaits Final Green Light For €50 Million Limassol Expansion
Cypriot beverage producer Keo is awaiting final government approval to proceed with a €50 million investment in a new distribution and spirits bottling centre in Limassol, one of the district’s largest planned private industrial developments in recent years. A Strategic Industrial Investment According to Entrepreneurial Limassol, the publication of the Limas