Development licensing delays remain a major obstacle to tackling Cyprus’ housing problem, the Property Developers Association said after a meeting with Limassol district governor Yiannis Tsouloftas, arguing that faster permit approvals are essential to boost supply.

The association said the matter was discussed at a meeting this week, attended by president Yiannis Misirlis, members of its board, and general manager Mersina Isidorou.

During the discussion, it raised what it described as persistent delays in the licensing process, saying that, despite efforts to accelerate procedures, the problem continues. In some cases, it added, the time required to obtain permits exceeds the time needed to construct a project.

Misirlis said delays are “one of the main factors that exacerbate the housing problem”, as they reduce the market’s ability to respond quickly to rising housing demand.

The Cyprus Chamber of Commerce and Industry (Keve) on Wednesday warned that the escalating war crisis in the wider region is already starting to weigh on the Cypriot economy, with tourism among the first sectors to feel the impact.

In a statement, the chamber said Cyprus’ hotel and tourism industry was once again being directly hit by geopolitical developments, with reservation cancellations, a slowdown in new bookings and growing uncertainty in international markets already raising concern over the course of this year’s tourist season.

Tourism, it said, remains one of the most important pillars of the Cypriot economy, supporting thousands of businesses and employees, as well as the broader chain linked to hospitality, services, trade and transport.

As a result, the chamber said, any fallout would not be confined to hotels alone but would affect economic activity more broadly across the country.

Against this, the Keve said it was “imperative” for the state to move immediately and monitor the situation closely.

Limassol district local government organisation (EOA) president Yiannis Tsouloftas on Wednesday visited the DP World facilities at Limassol port, where he was briefed on operations and confirmed that all activities continue without disruption despite recent regional tensions.

During the visit to DP World at Limassol port, the president was informed about the current situation by Simon Pitout, chief executive officer of DP World Cyprus, and Doros Arestis, public relations director.

The visit focused on assessing the status of port operations and maritime activity at one of Cyprus’ most important logistics hubs.

Following the briefing, the EOA president said that all port operations are continuing normally, even amid recent unrest in the wider region.

The Cyprus Chamber of Commerce and Industry (Keve) will organise an information seminar in Nicosia on March 19, focusing on the Carbon Border Adjustment Mechanism (CBAM) and its impact on importers.

The event, titled “CBAM in Practice What Importers Need to Know Today”, will examine obligations, procedures, compliance and sustainability issues linked to the European Union’s carbon border policy.

The seminar is being organised by Keve in cooperation with Enterprise Europe Network Cyprus, the Department of Environment Cyprus and the Cyprus Customs Department.

According to the organisers, the aim is to inform businesses about new European requirements affecting imports from third countries.

Venture capital firm Kinisis Ventures, through KV Fund II, has invested in Autonomics Tech Ltd, a Cyprus-based robotics and automation company developing autonomous industrial cleaning systems and a companion fleet orchestration platform for the facilities management sector.

With this move, the company said, KV Fund II joins early backer and strategic investor ASBISc Enterprises PLC, as Autonomics scales its commercial deployments across Europe and plans to expand into the United States market.

The company designs autonomous cleaning robots capable of operating in outdoor, indoor and hybrid environments, supported by its proprietary SPARC platform, which enables centralised monitoring, optimisation and lifecycle management of robotic fleets.

At the same time, it is addressing a growing structural challenge in facilities management, where labour shortages, rising wage pressures and increasing service-level demands are accelerating the adoption of automation across commercial, industrial and municipal environments.

Total government employment in Cyprus reached 55,331 persons during February 2026, marking a marginal increase of 35 employees compared to the same month in the previous year, according to the state statistical service (Cystat).

This figure represents a growth of 0.1 per cent in the state workforce over the twelve-month period ending in February.

Within the various branches of government, employment in the civil service declined by 0.9 per cent while personnel numbers in the security forces fell by 0.5 per cent.

In contrast, the educational service bucked the downward trend by recording an increase of 1.8 per cent in its total staff count.

When examining the nature of employment, the largest overall increase was found in the category of employees with contracts of indefinite duration, which rose by 1.6 per cent.

The European Parliament this week adopted a sweeping set of recommendations to tackle the European housing crisis, a move welcomed by a Cypriot lawmaker who said the decision sends a strong signal that the EU is taking action to support young families and vulnerable households.

The report, prepared by the parliament’s Special Committee on the Housing Crisis, was approved by 367 votes in favour, 166 against and 84 abstentions, outlining a broad framework aimed at expanding housing supply, reducing costs and improving access to affordable homes across the European Union.

Cypriot MEP Michalis Hadjipantela, representing Disy and the European People’s Party, said he was satisfied with the outcome, highlighting an amendment he co-signed that places particular emphasis on supporting young people and families facing difficulties entering the housing market.

“For small states such as Cyprus, access to affordable housing is crucial for young families,” the MEP said.

Cyprus has recorded one of the lowest rates of online shopping problems in the European Union, with around 15.68 per cent of consumers reporting issues when buying through websites or apps, according to Eurostat.

The findings come from the 2025 survey on the use of information and communication technologies, which examined the experiences of people who had made online purchases during the previous three months.

Across the EU, more than a third of online shoppers reported difficulties, with 35.4 per cent saying they encountered problems while making purchases online.

The figures show that Cyprus performed significantly better than the EU average, suggesting relatively smoother online purchasing experiences for consumers compared with many other member states.

The Cyprus Scientific and Technical Chamber (Etek) recently hosted a European workshop titled “Scaling BIM Down: Making BIM work for small firms and small projects”, as part of its efforts to represent the country in the EU BIM Task Group and promote the adoption of the BIM methodology.

Building Information Modelling (BIM) is a collaborative, technology-driven process for creating and managing digital, data-rich 3D models of construction projects throughout their entire lifecycle.

The workshop focused on promoting BIM adoption among small firms and was organised within the broader goal of advancing the digital transformation of the construction sector.

High concentration in banking markets delays the speed at which central bank interest rate changes reach consumers and businesses, according to a study released by the Central Bank of Cyprus (CBC) on Tuesday.

The study, authored by Aris Avgousti and Stephani Michael of the centre for strategy and policy production, showed that banking concentration and monetary policy transmission remain intrinsically linked, with more concentrated markets exhibiting a weaker and slower pass-through of policy rates to retail interest rates.

“The empirical analysis demonstrates that more concentrated banking markets present a weaker and slower transfer of policy rates to bank rates across the euro area,” the authors explained.

This effect is particularly intense in deposit rates, and primarily in the deposits of non-financial corporations, the study explained.

Capital markets firm Jefferies recently raised its target price for Alpha Bank shares to €4.85 from €4.15 and reiterated its buy recommendation, citing the bank’s strong earnings outlook and attractive shareholder returns.

The analysts said that the Greek lender offers an appealing combination of high earnings growth and strong shareholder returns over the coming years.

According to the investment house, the investment story of Alpha Bank remains particularly attractive, even though 2026 is expected to represent a transition year for the group.

Despite some adjustments to profitability forecasts, the analysts said the overall growth trajectory remains strong across the forecast period.