In a move designed to shift the burden of debt away from third-party backers, DIKO MPs Zacharias Koulias and Christos Orphanides have tabled a high stakes bill before the House of Representatives. The proposed legislation seeks to fundamentally reorder the hierarchy of loan recovery, mandating that financial institutions exhaust all legal and physical avenues against a primary borrower before ever knocking...
Middle-income households in Cyprus are facing a deepening crisis as foreclosure rates for primary residences valued under €350,000 have seen an unprecedented spike. Confidential data from the Central Bank of Cyprus (CBC), recently submitted to the House of Representatives, reveals that the vast majority of homes now being liquidated at auction fall within this "affordable" price bracket. The surge...
With the House of Representatives set to dissolve in mid-April ahead of the May legislative elections, lawmakers are launching a high stakes, last minute campaign to freeze mass property repossessions. MPs are sounding the alarm over what they describe as a legislative vacuum that has left thousands of homeowners and small business owners defenseless against aggressive debt recovery. The Parliamentary...
The Republic’s Prosecution Authority has officially triggered a new legal chapter in the "Golden Passport" saga, filing an appeal against the Nicosia Criminal Court’s recent decision to clear former House President Dimitris Syllouris and ex-MP Christakis Giovani. During a high stakes press conference held on Wednesday, February 18, 2026, the Legal Service argued that the 170 page majority ruling...
Bank of Cyprus (BoC) has capped a "landmark year" with a net profit of €481 million for 2025, fueled by a historic surge in new lending and a robust domestic economy. At a press conference held on Wednesday, February 18, 2026, CEO Panicos Nicolaou unveiled the preliminary results, highlighting a final quarter that contributed €128 million to the bottom line. The bank’s performance has paved the way...
Cyprus is defying the traditional "off-season" slump, with Larnaca and Paphos airports reporting a substantial 16% increase in passenger traffic between November 2025 and January 2026. This growth, compared to the same period in 2024/2025, signals a successful shift toward establishing the island as a year-round destination. Maria Kouroupi, Director of Aviation Development at Hermes Airports, attributed...
The Cypriot economy demonstrated a powerful and broad-based expansion throughout 2025, with key sectors from tourism to heavy industry hitting significant milestones. According to the "Monthly Economic Developments" bulletin released on Tuesday, February 17, 2026, by the Statistical Service of Cyprus (CyStat), the island saw upward trends in almost every major economic indicator, signaling a robust...
Finance Minister Makis Keravnos delivered a glowing appraisal of the Cypriot economy this Friday, confirming that the nation has maintained its powerful upward trajectory despite a volatile global landscape. Citing fresh preliminary data, Keravnos revealed that Cyprus capped off 2025 with a seasonally adjusted growth rate of 4.5% in the fourth quarter. The figure is a significant beat against the broader...
In what is being hailed as a transformative moment for the nation’s construction sector, the Parliamentary Committee on Interior has advanced a sweeping legislative package that will mandate expert supervision for all building and renovation projects. No longer a suggested practice, professional oversight by certified architects and engineers will become a legal requirement for everything from massive...
Cyprus has cemented its position as one of the fastest-growing economies in the European Union, ending 2025 on a high note. According to a flash estimate released by the Statistical Service of Cyprus (Cystat) on Friday, February 13, 2026, the nation's seasonally adjusted Gross Domestic Product (GDP) soared by 4.5% in the fourth quarter compared to the same period in 2024. This performance not only marks...
