Cyprus Business Now: CBC, EU presidency, retail, vocational training, taxes
Cyprus business & economy wrap-up from the day before
In its statement, Keve explained that the role is both a national responsibility and a strategic opportunity for the country at a time of major economic and geopolitical challenges across Europe.
“With the assumption of the Presidency of the Council of the European Union, Keve expresses its warm congratulations to the government and the Cypriot state for undertaking the Presidency of the Council of the European Union,” the chamber said.
“This Presidency constitutes an important national responsibility but also a substantial opportunity for Cyprus to actively contribute to shaping European policies, during a period of increased challenges but also major transformations for the European economy, competitiveness and social cohesion,” the chamber added.
According to figures published by the CBC, total loans recorded a net increase of €71.5 million in November 2025 compared with the previous month, mainly driven by lending to households.
The data showed that €50.3m of the increase in loans was linked to household borrowing, highlighting sustained demand for consumer and housing finance.
Total deposits, meanwhile, posted a net increase of €330.8m in November 2025, although this was lower than the €412.3m rise recorded in October 2025.
In an announcement, the Ministry of Education, Sports and Youth said the programme will be implemented by the directorate of secondary general education, within the framework of the government’s Governance 2025 planning and the ministry’s Annual Action Plan for 2025–2026.
The intervention falls under Strategic Objective 1, which focuses on student-centred educational policies.
The measure revives the institution of the work week, providing for the planning and implementation of a structured job-shadowing experience for second-year lyceum students.
The index reached 122.1 units in November 2025, based on 2021 as the base year set at 100 units. This marked a decrease of 0.7 per cent compared to October 2025.
Compared with the corresponding month of the previous year, the index showed no change.
For the period from January to November 2025, the index recorded a decrease of 0.3 per cent compared with the same period of 2024.
On a monthly basis, mining and quarrying prices remained stable in November 2025 compared to October 2025.
The Turnover Value Index of retail trade, excluding motor vehicles, rose by 4.6 per cent compared with November 2024, while the Turnover Volume Index increased by 7.6 per cent.
Using 2021 as the base year, the aggregated value index reached 145.4 and the volume index 132.1 .
Over the January–November period, retail trade recorded cumulative growth of 6.2 per cent in value terms and 7.8 per cent in volume compared with the same period a year earlier.
Among individual categories, food, beverages and tobacco in specialised stores delivered the strongest annual performance, with value jumping 17.4 per cent to 162.9 and volume surging 22.5 per cent to 136.4.
This followed an analysis of the reported year, which was conducted with national regulators, in order to strengthen supervision and investor protection across the EU and EEA.
The study examined data from investment firms and credit institutions operating on a freedom to provide services basis across 30 EU and EEA jurisdictions, excluding domestic activity and branch-based operations.
ESMA said the review covered only firms serving more than 50 retail clients in a host member state, aiming to give regulators a clearer picture of cross-border risks, market concentration, and complaints under MiFID II.
The regulator reported that 370 firms provided cross-border investment services in 2024, serving around 10.5 million retail clients across the EU and EEA.
The authority said the programmes are designed to strengthen skills across the workforce, with a focus on improving productivity, boosting competitiveness and enhancing the resilience of businesses.
Training will span all sectors of the economy and cover a broad range of professions.
Areas to be addressed include business management, new technologies and innovation, green and blue economy skills, renewable energy and energy efficiency, occupational safety and health, business continuity and the training of trainers.
Digital skills also feature prominently, ranging from basic competencies to more advanced fields such as artificial intelligence and robotics, alongside specialised training tailored to specific professions.
The House plenary approved the reform on December 22, voting through five of the six bills submitted by the executive after amendments introduced during deliberations at the Parliamentary Finance and Budget Committee.
The legislation was published this week in the official gazette, according to a circular issued by the Employers and Industrialists Federation (Oev), formally clearing the way for implementation.
Oev said it had played an active role in shaping the final amendments, both during the public consultation phase and the article-by-article discussions in committee.
Its involvement, the federation noted, was guided by the objective of supporting the Cypriot economy through tax reform, strengthening business competitiveness and preserving the country’s appeal to foreign investors.
Among the most significant changes is the increase in corporate income tax to 15 per cent from 12.5 per cent.
The seminar will take place in Nicosia on February 3, 2026, and aims to equip professionals with the methodologies required to navigate a rapidly evolving market environment.
Hosted at the Keve building, the programme will run from 08:45 to 16:45 under the instruction of Michalis Maimaris, with all teaching conducted in Greek.
“The market environment is constantly evolving and thus the sales sector is changing,” according to a statement from the chamber highlighting the necessity of the training.
How a sale is carried out today is of greater importance than what product or service is being sold, the organisation noted when explaining the rationale behind the curriculum.