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Invest Cyprus has been elected Regional Director of the World Association of Investment Promotion Agencies (WAIPA) for Eastern Europe for the 2025–2027 term. The elections took place in Sharjah, United Arab Emirates, during the 29th WAIPA World Investment Conference 2025, held in conjunction with the Sharjah Investment Forum. Representatives from over 140 countries gathered to elect WAIPA’s new president, vice-presidents and regional directors, setting the strategic direction for global investment promotion in the years ahead. Founded in 2016 and headquartered in Cyprus, Invest Cyprus represents the island in global forums and promotes the country as a preferred destination for international investors. Its election to the WAIPA leadership strengthens the voice of Eastern Europe within the global investment community. Ahead of the elections, the WAIPA Steering Committee Meeting brought together the presidency, vice-presidencies and all regional directorates to take stock of 2025’s achievements and align priorities for the months ahead, refining the 2026 strategy before the General Assembly later in the day. The Cyprus Securities and Exchange Commission (CySEC) has concluded a settlement agreement of €10,000 with MD&TR Consulting Ltd over a possible violation of the law regarding the provision of administrative services. The announcement of the decision was made on October 21, following a board decision initially reached on July 28, 2025. Twenty municipalities across Cyprus will follow the precedent set in 2025 for their 2026 budgets, sharing a state grant totalling €117 million. According to a report by Philenews, this grant represents a significant increase of €45 million compared to the funding they received prior to the implementation of the Local Government Reform, which took effect on July 1, 2024. The amount of the state grant allocated to each municipality is determined based on criteria including population, area, and residential density. The €117 million is set to be distributed among the municipalities, with Nicosia receiving the largest share at €22.55 million, followed by Limassol at €17.03 million. More than 1,300 urban planning and building permits for residences have been approved within the framework of the fast-track licensing measures introduced this October, according to Interior Minister Constantinos Ioannou. Speaking to state broadcaster CyBC on Wednesday, Ioannou added that permits have also been issued for about 217 apartment buildings. “This means these apartment buildings will enter the market one to two years earlier, thus increasing the housing stock and contributing to the alleviation of the housing problem,” the minister said. The Bank of Cyprus (BoC) on Wednesday announced that its 6th BoC Fintech Hackathon, held at the IDEA Innovation Centre from October 10–12, 2025, “concluded with resounding success”. According to the announcement, this year’s event operated under the theme Fintech Everywhere, expanding to every dimension of society and technology. “From Smart Cities that use real-time payments and sensor data to optimise urban flows, to Sustainable Finance & Green Banking strategies that embed eco-credentials into every transaction,” the announcement stated. “This convergence of themes underscores a simple truth: Fintech isn’t just about banking — it’s about transforming how we live, move, share, and sustain our communities,” it added. Cyprus-based TheSoul Group this week announced the launch of TheSoul Media, a new standalone division that brings together the company’s owned and operated (O&O) digital media brands as well as its creative agency. The group, one of the world’s most viewed digital entertainment companies, continues to redefine how creators, brands and audiences connect in the digital-first era. TheSoul Media will operate alongside the group’s other creator-focused divisions, Underscore Talent and MediaCube, which together manage more than 100 billion content views each month. Louisa Ioannidou has been appointed CEO of TheSoul Media and will report directly to Arthur Mamedov, CEO of TheSoul Group. Cyprus ranks among the world’s top island destinations, securing 10th place in a list of the top 20 most popular islands worldwide based on tourist arrivals, according to a report from the National Bank of Greece (NBG). The report, which was shared by Greek outlet Oikonomikos Taxydromos, showed that the island stands alongside major global destinations such as Bali, Hawaii, and Tenerife, reflecting its growing international appeal. The ranking is led by Mallorca, which maintains a comfortable lead over Phuket in second place, followed by Hawaii. The list continues with Bali, Tenerife, Crete, Sicily, Ibiza, the Canary Islands, and Cyprus completing the top ten. Paphos has been recognised among the world’s leading sustainable destinations after earning a place in the Top 100 Green Destinations Stories 2025, highlighting its success in fostering green and sustainable growth through slow tourism. According to the Paphos regional tourism board (Etap), the distinction celebrates the town’s innovative project titled “Fostering green and sustainable growth through slow tourism by preserving natural and rural heritage with the enhancement of local environmental education centres.” The project was selected in the Culture and Tradition category and showcases how Paphos has transformed its rural heartlands into a model for sustainable cultural tourism. This recognition follows an evaluation process involving 180 good practice submissions from 33 countries, assessed by international experts under the coordination of Green Destinations. The Top 100 Partnership, supported by organisations including ITB Berlin, Quality Coast, Ecotourism Australia and the Future of Tourism Coalition, endorsed the awards, which were announced during the Global Green Destinations Conference in Montpellier, France. The Cyprus Stock Exchange (CSE) on Wednesday announced the admission for listing of 25,000 new 13-Week Treasury Bills of the Republic of Cyprus. These newly listed government bills, which represent the 10th Issue, Series 2025, have a nominal value of €1,000 each, bringing the total value of the issue to €25,000,000. The bills resulted from an auction that was held on October 20, 2025, the announcement mentioned. The date of issue for the Treasury Bills is October 24, 2025, and their maturity period runs from October 24, 2025, to January 23, 2026. The stock exchange also confirmed the simultaneous entry of the bills into the Central Securities Depository and Central Registry. Cyprus and Greece successfully concluded their participation at GITEX Global 2025, with the Cyprus Information Technology Enterprises Association (CITEA) leading both national delegations. Held from October 13 to 17 at the Dubai World Trade Centre, GITEX Global is one of the world’s largest technology and innovation exhibition, drawing thousands of investors, tech leaders, and entrepreneurs from around the world. “The participation of Cyprus and Greece showcased the continuous growth of both countries’ technology ecosystems, as well as the strategic importance of the Eastern Mediterranean region as an emerging hub for innovation and digital development,” CITEA said in an announcement on Wednesday. A new partnership between services firm Totalserve and crowdfunding platform Crowdbase aims to strengthen Cyprus’ startup ecosystem by combining expert advisory services with innovative funding options. The collaboration was announced under the framework of The Start-up Launchpad, an initiative launched by Totalserve to expand the support available to early-stage companies. The joint effort seeks to address one of the most persistent challenges faced by new businesses – access to capital – by bringing together professional guidance and alternative investment channels. Through the agreement, startups supported by the Totalserve Start-up Launchpad will be able to explore new financing opportunities through Crowdbase, complementing the legal, tax, accounting, corporate, and advisory services already provided by Totalserve.
