Cyprus has more than 400 companies operating in the video game industry, generating more than € 3.2 billion in games revenue in 2025. This information is according to the newly-published Cyprus Video Game Industry Report 2025, created by the Cyprus Game Makers Association (CYGMA).

Cyprus has approved the construction of three new permanent desalination plants in Dhekelia, Polis Chrysochous and Ayia Thekla. The new facilities are intended to increase the country’s desalination capacity, reduce reliance on rainfall and dam reserves, and provide a more secure long-term water supply. The government is progressing the projects under its Six-Year Desalination Plan for 2025–2031.

ECM Partners has agreed to acquire a 50% stake in Cyprus fintech company payable. in a transaction worth more than € 100 million. The transaction is significant for Cyprus as it represents one of the largest secondary fintech transactions involving a Cyprus-based company. For ECM Partners, the acquisition marks an entry into the electronic payments industry and further diversifies its investment portfolio beyond sectors such as healthcare and real estate.

The Great Sea Interconnector (GSI) is a planned subsea electricity link designed to connect Cyprus to the European electricity system through Greece. The project will connect the electricity systems of Cyprus and Greece, strengthening energy links between the Eastern Mediterranean and the European electricity market.

Cyprus has approved a € 6 million state aid scheme to support the operation of the Cyprus AI Factory Antenna Pharos-CY, a national artificial intelligence initiative aimed primarily at helping small and medium-sized enterprises (SMEs) adopt AI technologies.

Cyprus is expected to establish its new Business Development Organisation (CBDO) within the next 12 to 18 months, creating the country's first dedicated public development finance institution aimed at improving access to funding for small and medium-sized enterprises (SMEs), startups and self-employed professionals.

The European Union has launched the European Tech Champions Initiative 2.0 (ETCI 2.0), a new pan-European investment platform aimed at addressing one of Europe's most persistent innovation challenges: helping highly innovative companies scale into global leaders. Backed by all 27 EU member states and the European Investment Bank (EIB) Group, the initiative is expected to mobilise total investments of up to € 80 billion for more than 1,500 European scale-ups.

An estimated € 7 million to € 7.5 million expansion of the PROTEAS Solar Research Facility in Pentakomo, Limassol, is currently under review by the Environmental Authority. The project will introduce an innovative energy storage system designed to enhance renewable energy research and demonstration capabilities. Subject to environmental approval the expanded facility anticipated to be fully operational within two years.

The Cyprus Ports Authority has launched a tender for consulting services for the planned € 350 million expansion of Vasiliko Port. The tender covers front-end engineering design, detailed design and supervision of the first construction phase.

Cyprus has moved closer to becoming a natural gas producer after approving the development plan for the Kronos gas field in Block 6 of its Exclusive Economic Zone (EEZ), offshore southwest of the island in the eastern Mediterranean.

The European Investment Fund and Eurobank Launches € 62.5 Million Fund for Cypriot Businesses and Start-ups

IDEA Innovation Centre has opened applications for its 11th Startup Programme.

Revolut has announced that its European crypto entity, Revolut Digital Assets Europe Ltd, has been granted a MiCA (Markets in Crypto-Assets) license by the Cyprus Securities and Exchange Commission (CySEC). This license enables Revolut to operate regulated crypto services across all 30 countries in the European Economic Area (EEA). Revolut serves more than 65 million customers globally. The company’s Cyprus entity will serve as the hub for its EEA crypto operations, build

A new funding opportunity has been announced by the Government of Cyprus under the programme “Enhancing Cybersecurity for Small and Medium Enterprises in the Republic of Cyprus 2025 – Tourism.” The programme will provide € 1,000,000 for cybsersecurity support and is implemented by the Research and Innovation Foundation (RIF) in collaboration with the Digital Security Authority (DSA). The submission deadline is 18 November 2025.

The Cyprus Productivity Centre (eGnosis), under the Ministry of Labor and Social Insurance, has launched the Digital Skills Promotion Project to boost digital literacy among adults across Cyprus. Funded by the EU Recovery and Resilience Mechanism, the initiative runs until December 2025 and delivers free digital training nationwide.

Alpha Bank and its subsidiary Alpha Finance have signed an agreement to acquire 100% of Axia Ventures Group, a Cyprus-based investment banking firm. The deal is expected to be completed in the fourth quarter of 2025, subject to regulatory approvals.

Minds in Cyprus is a flagship program launched by the Government of the Republic of Cyprus to attract highly skilled Cypriot professionals living abroad back to the island. Officially unveiled in London by President Nikos Christodoulides and supported by Invest Cyprus and the Cyprus Chamber of Commerce and Industry, this "brain gain" initiative aims to reconnect diaspora talent with emerging opportunities across sectors such as technology, financial services, energy, healthca

The Stelios Awards for Young Entrepreneurs in Cyprus are now open for applications. Business founders are encouraged to apply by 8 September 2025.

Alpha Bank has entered into a binding agreement to acquire AstroBank for approximately € 200 million, aiming to establish the third-largest banking institution in Cyprus. The acquisition will be executed through Alpha Bank's subsidiary, Alpha Bank Cyprus Ltd, and is anticipated to conclude later in the 2025, pending regulatory approvals.

The Republic of Cyprus has announced a package of incentives aimed at attracting strategic investors to the Science and Technology Park (STP) in Pentakomo, Limassol district. The announcement was made in tandem with the tender launch for leasing government land dedicated to the development of the park.