Throughout the day, speakers and delegates examined how cooperation, technology, and long-term thinking will shape the sector’s evolution amid continued regulatory, geopolitical, and economic pressures.
The day began with the panel “P&I Market: Latest Developments and Update about the Renewal Season 2026,” moderated by Filippo Fabbri, CEO at Lockton P.L. Ferrari, and featuring Paul Jennings, Managing Director at NorthStandard, Andrew Taylor, CEO at UK P&I Club, Jonathan Andrews, CEO at Steamship Mutual, and Rolf Thore Roppestad, CEO at Gard AS.
During the discussion, speakers focused on the resilience of the protection and indemnity market and the challenges shaping the 2026 renewal season.
This will allow customers to send and receive payments from any bank within Cyprus or the Single Euro Payments Area (SEPA) in a matter of seconds.
According to the bank’s announcement, customers will now be able to make and receive instant payments from any Cypriot or SEPA-zone bank, significantly reducing transaction times compared with traditional transfers.
The processing time for a payment from the payer’s account to the recipient’s account will be reduced to just 10 seconds, regardless of the country from which the payment originates.
The bill, titled “The Establishment and Operation of Catering and Entertainment Venues Law of 2025”, was approved by the Cabinet earlier this week.
According to the Deputy Ministry, the new legislation is designed to replace the existing framework governing the operation of recreation and entertainment centres, introducing simplified procedures, modernised regulations, and revised operating hours.
Deputy Minister of Tourism Kostas Koumis said that the law aims to modernise legislative provisions, support entrepreneurship, and promote service quality in the hospitality sector.
The meeting brought together leading representatives of the local and international shipping community.
During the proceedings, Polys Hajioannou was elected as the Association’s new president, succeeding Andreas Hadjiyiannis, who successfully completed his term.
The election marked a symbolic transition for the organisation, as it continues to represent the institutional voice of Cypriot shipowners and serve as a key partner of the state in matters of maritime policy and competitiveness.
In 2024, only 12.91 per cent of Cypriot enterprises reported incidents resulting in consequences such as service unavailability, data corruption or disclosure of confidential information, well below the EU average of 21.5 per cent.
Across the European Union, 21.5 per cent of enterprises faced ICT security incidents with tangible consequences in 2023, reflecting the growing exposure of European businesses to digital risks and data vulnerabilities.
At the top of the scale, Finland recorded the highest share, with more than two-fifths (42.2 per cent) of enterprises affected, followed by Poland (32.5 per cent), Malta (28.7 per cent), Sweden (20.4 per cent) and Denmark (19 per cent).
Together, these countries represent Europe’s most digitally advanced economies, and, consequently, those with higher exposure to cyber risks.
By contrast, the lowest shares were observed in Austria (11.5 per cent), Slovenia (11.6 per cent) and Bulgaria (12.1 per cent).
The Index of Production in Construction reached 131.38 units during the second quarter of 2025, with 2021 acting as the base year set at 100 units.
This marks an increase of 4.6 per cent compared with the same period in 2024.
Cystat also stated that the Output Prices Index in Construction climbed to 126.32 units (2021 again acts as the base year 2021 with a value of 100 units) in the second quarter of 2025, representing an increase of 2.1 per cent relative to the first quarter of the year.
The annual programme ranks the region’s fastest-growing technology startups based on their revenue growth over the past four years, providing a trusted platform that showcases innovation and entrepreneurship across multiple sectors.
Kyriacos Charalambides, Partner, Strategy and Transactions at Deloitte Cyprus, and Emerging Growth Companies Segment Leader for Deloitte Private in the Middle East, who leads the initiative, said the Technology Fast 50 plays a vital role in promoting the region’s dynamic startup ecosystem.
He noted that what truly inspires him about the programme is “its pivotal role in spotlighting the dynamic startup ecosystem, showcasing not only extraordinary growth but also a rich diversity of innovation throughout the region.”
This robust performance placed Cyprus ahead of Malta, which recorded a 9.2 per cent rise, and Luxembourg, which saw a 7.3 per cent increase.
In contrast, the largest annual declines were observed in Romania, where retail trade fell by 3.8 per cent, followed by France with a 1.4 per cent drop and Finland with a 1.2 per cent decrease.
Across the euro area, retail trade volume increased by 1.0 per cent year-on-year, while in the EU as a whole, it rose by 1.1 per cent compared with August 2024.
According to the company, September traditionally marks a period of strong sales due to the back-to-school season, yet the category continues to be structurally affected by the country’s low birth rate, which remains at historically low levels.
The shrinking student population represents a long-term challenge for school-related product sales, one that the group is addressing through product diversification and the strengthening of categories targeting broader age groups.
In Greece, net sales of the parent company, excluding intragroup transactions, rose by approximately 6 per cent year-on-year in September, while for the January–September period, sales were up about 9 per cent year-on-year.
The company said the buyback took place during a session held on October 7, 2025, in accordance with Article 57A of the Companies Law, Cap.113, and under the authorisation granted by shareholders at the annual general meeting (AGM) on June 24, 2025.
According to Demetra Holdings, the transaction was conducted on the regulated market of the Cyprus Stock Exchange and complied with the relevant regulations of the exchange as well as the circulars of the Cyprus Securities and Exchange Commission (CySEC).
The 2025 Summit is dedicated to empowering and advocating for women in science, technology, engineering and mathematics (STEM).
At a time when diversity, equity and inclusion initiatives are being challenged globally, it goes beyond inspiration, serving as a call for systemic change and ensuring women’s voices are heard where they matter most: in parliaments, boardrooms, laboratories and classrooms.
The agenda will bring together leaders from politics, business and academia to address barriers, amplify diverse perspectives and advance policies and practices that enable real equality.
At the same time, targeted workshops will offer practical support for women at all career stages, from students and early-career professionals to entrepreneurs seeking growth strategies.
“When adjusted for the impact of Special Purpose Entities, the current account deficit stood at €280.9 million, compared with €363.6 million in Q2 2024,” the central bank said.
The international investment position also improved during the quarter, registering a net liability position of €30.09 billion in Q2 2025, compared with €30.42 billion in Q1 2025.
Adjusted for the impact of SPEs, the international investment position showed a net liability of €11.48 billion in Q2 2025, down from €11.87 billion in Q1 2025.
Gross external debt decreased slightly to €232.98 billion in Q2 2025, from €233.59 billion in Q1 2025.
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