Cyprus Business Now: payments, Vassiliko, energy usage, CSE, maritime conference
The review ensures that listed entities continue to meet both listing and ongoing obligations.
Four companies—LCP Holdings, NET Info, Aiantas Investment, and Top Kinisis Travel—will have the special sigma marking removed from their shares on July 28, 2025, following renewed compliance.
Meanwhile, ten companies, including CLR Investment Fund, Philoktimatiki, and Harvest Capital Management, will retain the sigma marking due to ongoing non-compliance.
Additionally, Actibond Growth Fund will receive the marking from July 28 for the same reason.
Cheques came in second place by value, with an 7 per cent share, confirming their continued significant presence in the local market despite the broader trend toward digitalisation.
The CBC report, which covered payment statistics for the second half of 2024, highlighted that Cypriots primarily use credit transfers, with an average transaction value of €4,402, and cheques, with an average of €3,615, for high-value payments.
In contrast, payment cards, which have an average transaction value of €39, are typically used for lower-value purchases.
According to the company, profits also rose markedly, climbing to €19.5m in the first six months of 2025 compared to €11.6m in the corresponding period of 2024.
Earlier this year, the company’s general meeting approved a dividend payout of €12.9m, equivalent to €0.18 per ordinary share, with €0.06 attributed to 2023 profits and the remaining €0.12 drawn from 2024 profits allocated to the annuity reserve.
Despite facing persistent volatility in energy and fuel prices, the company has taken a proactive stance, implementing a range of cost-containment measures across its operations to safeguard profitability.
Fintech firm Plum welcomed the European Central Bank’s decision to hold interest rates, saying it gives the eurozone vital time to assess trade risks and maintain financial stability. CEO Victor Trokoudes noted that the ECB is exercising caution ahead of updated economic forecasts in September and ongoing tariff talks with the US.
He warned that if these negotiations fail and the euro continues to strengthen, rate cuts may become necessary. For Greek consumers, the rate hold means stable interest on savings and loans for now, but Trokoudes stressed that rising geopolitical uncertainty and a stronger euro are challenging the EU’s competitiveness.
He urged consumers in Greece to actively manage their finances through saving, investing, and planning to build resilience. Plum also highlighted the growing divergence between the ECB and the US Federal Reserve, noting that although the euro has strengthened over 10 per cent this year, the dollar is showing signs of recovery.
The meeting will take place on September 11, 2025, at 11:00 a.m. at the Hilton Hotel in Nicosia.
Shareholders will review the annual report for the year 2024, which includes the management report, the corporate governance report, and the audited consolidated financial statements for the year ended December 31, 2024.
What is more, the agenda includes the re-election of board members.
Out of a total 10,586.6 terajoules (TJ) consumed, oil and petroleum products represented 33.3 per cent (3,52 TJ) and electricity 21.4 per cent (2,269 TJ).
Non-renewable waste made up 18.2 per cent (1,922 TJ), while renewables and biofuels followed with 16.3 per cent (1,726 TJ).
Solid fossil fuels contributed 10.8 per cent (1,146 TJ). No use of natural gas or derived heat was recorded in the industry sector.
The Deputy Ministry of Shipping released the official promotional video for the Maritime Cyprus 2025 Conference, which will bring together the global shipping community in Limassol from October 6 to 8 under the theme “Unlocking the Future of Shipping.”
The three-day event, organised by the debuty ministry of shipping in collaboration with the Cyprus Shipping Chamber (CSC) and the Cyprus Shipowners’ Association, will take place at the Parklane Resort and Spa Hotel, drawing over 1,000 shipping professionals from around the world.
President Nikos Christodoulides will open the conference on Monday, October 6, followed by the announcement of the Cyprus Maritime Award 2025.
The programme features high-level speakers, including the IMO Secretary-General, EU Commissioners, and the presidents of ICS, BIMCO and ECSA, alongside leading shipowners and maritime innovators.