Cyprus must tread carefully in how it presents itself abroad as tensions in the Middle East persist, with any misstep in public messaging risking damage to tourism, investment and confidence, Cyprus economy and competitiveness council chairman Demetris Georgiadis said.

Speaking to the Cyprus News Agency (CNA), Georgiadis warned that the island’s image as a safe destination should not be undermined by loose messaging, particularly in international media, at a time when perceptions can shift quickly and carry economic consequences.

“Statements or images associated with warships or military bases may create a feeling of insecurity, even if this is not the intention,” he said.

He said the government should move quickly on reassuring tourist markets that Cyprus remains safe, preparing contingency plans in case the regional crisis deepens, and protecting air links.

Cyprus business leaders are showing growing concern over whether their companies are moving quickly enough to keep pace with technological change, particularly in the age of artificial intelligence, according to the 15th annual PwC Cyprus CEO Survey.

The survey, which gathered responses from 77 business leaders in Cyprus, points to mounting unease over the speed of business transformation, while also outlining the opportunities and pressures shaping companies in an increasingly volatile environment.

According to the findings, 43 per cent of CEOs in Cyprus say they are concerned about whether they are transforming their business “fast enough” to keep up with the scope and pace of technological change, including artificial intelligence.

Similar concerns are being expressed in the Eurozone and globally, where CEOs are likewise questioning whether their organisations are adapting quickly enough to match emerging technological realities.

The Bank of Cyprus on Wednesday reported strong investor interest during its participation in the Morgan Stanley European Financial Conference in London, following a series of high-level meetings with international funds.

Specifically, the Bank of Cyprus held meetings with 30 investment funds from Europe and the United States in a single day, reflecting significant engagement from global institutional investors.

This marked the first time such strong interest was recorded from major funds, with around five to six funds attending each meeting.

The discussions were described as highly positive and of strong qualitative value, with investors focusing on the bank’s strategic direction.

Among the participants were leading asset managers including Wellington Management, AllianceBernstein, Fidelity Investments and T. Rowe Price, all of which manage billions in assets.

Limassol mayor Yiannis Armeftis has proposed expanding the Polemidia Forest Park in Ayia Fyla into land used by the Limassol recruitment training centre (KEN), in what he described as a first step towards creating a broader metropolitan park for the city.

Speaking to Entrepreneurial Limassol, a periodical published by the Limassol Chamber of Commerce and Industry (Evel), Armeftis said the municipality had identified plots that may be unused by the defence ministry and had marked them on maps already submitted to defence minister Vasilis Palmas.

The area in question covers around 40,000 to 50,000 square metres and, according to the mayor, could be incorporated into the metropolitan park now under discussion.

Armeftis said the proposal focused on expanding green space around the existing forest park and creating infrastructure for public use.

The Cyprus Land Development Organisation (Koag) is set to sign two more contracts in the coming days for affordable homes and apartments, as it pushes ahead with a broader housing pipeline across Limassol and Nicosia.

Official project material and recent reporting show the organisation is advancing sale and rental schemes as part of a wider affordable housing programme.

The first of the two contracts concerns Adonis III in Pano Polemidia, Limassol, which will include 29 three-bedroom semi-detached houses.

The second concerns Alexandra in Lakatamia, a three-storey block with 18 apartments.

Both projects are intended for sale at affordable prices to eligible beneficiaries under Koag’s criteria.

The Eratosthenes Centre of Excellence and the Limassol Chamber of Commerce and Industry (Evel) on Wednesday renewed a memorandum of understanding, reinforcing their long-standing collaboration and strengthening ties between research and business.

The agreement was signed by chief executive officer Diofantos Hadjimitsis and chamber president Andreas Tsouloftas during the EXCELSIOR Space Industry Day Synergies and Collaboration event, held at the Blue Economy Innovation Centre in Limassol.

According to the announcement, the renewal of the MoU further enhances cooperation between the two organisations, with a focus on linking research activity with entrepreneurship and promoting new opportunities.

Cyprus’ construction sector is entering a new phase of modernisation after the publication of new regulations reforming the institutional framework for electromechanical installations in buildings, in a move aimed at improving safety, quality and energy efficiency.

The scientific and technical chamber (Etek) described the publication of the regulations as particularly important, saying it answered a long-standing request for a substantial upgrade in the way electromechanical installations are designed, implemented and monitored.

According to Etek, the new framework lays stronger foundations for better building control and quality, safer installations, stronger protection for citizens, an upgraded role for engineers and the promotion of more energy-efficient buildings.

Cyprus recorded one of the lowest inflation rates in the European Union in February 2026, according to figures from both Eurostat and the Cyprus Statistical Service (Cystat).

According to Eurostat, Cyprus annual inflation stood at 0.9 per cent in February 2026, placing it among the lowest in the bloc alongside Denmark and the Czech Republic.

This compares with 1.2 per cent in January 2026 and 0.1 per cent in December 2025, indicating some fluctuation but overall subdued inflationary pressures.

On a month-on-month basis, inflation in Cyprus remained flat at 0.0 per cent in February, reflecting stable consumer prices.

Cyprus remains one of the most energy-dependent countries in the European Union, as authorities monitor rising geopolitical risks linked to the Middle East.

According to a Eurostat report released on Wednesday, Cyprus recorded an energy import dependency rate of 88 per cent in 2024, placing it among the highest in the EU alongside Malta and Luxembourg.

This means that the vast majority of the island’s energy needs are covered by imports, underlining its exposure to external shocks in global energy markets.

Across the EU, the overall energy import dependency rate stood at 57 per cent, indicating that nearly 60 per cent of energy consumption relied on net imports.

Construction materials prices in Cyprus recorded a modest increase in February 2026, reflecting gradual cost pressures in the sector, according to a report from the Cyprus Statistical Service (Cystat).

Specifically, the price index of construction materials reached 119.28 units in February 2026, based on 2021 as the base year, indicating an upward trend in building input costs.

On a month-on-month basis, the index rose by 0.33 per cent compared with January 2026, showing a slight increase in prices.

On a year-on-year basis, the index increased by 0.60 per cent compared with February 2025, pointing to moderate annual growth.

Cyprus maintained a stable job vacancy rate in the fourth quarter of 2025, reflecting resilient labour demand despite a quarterly slowdown in hiring, according to figures from Eurostat and the state statistical service (Cystat).

Specifically, figures showed that Cyprus recorded a job vacancy rate of 2.8 per cent in the fourth quarter of 2025, unchanged compared with the same period a year earlier but lower than the 3 per cent recorded in the third quarter.

At the same time, the total number of job vacancies rose to 13,538, marking an increase of 541 positions from 12,997 in the fourth quarter of 2024.

However, on a quarter-on-quarter basis, vacancies declined by 1,035 from 14,573, pointing to a moderation in hiring momentum.

Finance Minister Makis Keravnos and opposition figures signalled growing political alignment on foreclosure policy, even as the government rejected calls for a blanket suspension.

The emerging cooperation between Disy and Diko builds on their earlier joint backing of tax reform and is expected to extend to foreclosure legislation, according to a report by Philenews.

The issue came into focus following a meeting between Keravnos and Disy president and House speaker Annita Demetriou, where both sides appeared to converge on maintaining economic and financial stability while updating the legal framework.

“We cannot risk the stability of the economy and the financial sector,” Demetriou said.

She added that the legal framework governing foreclosures must be modernised in a balanced way, echoing the government’s position that social policy should remain the responsibility of the state.

During the meeting, Disy raised the possibility of reinstating the rent-for-installment scheme, aimed at supporting vulnerable borrowers.

Cyprus is taking part in Global Money Week 2026, the annual Organisation for Economic Co-operation and Development (OECD)-backed initiative aimed at helping children and young people build stronger financial literacy, with this year’s campaign running from March 16 to 22.

In a statement, the Central Bank of Cyprus (CBC) said it is once again coordinating the campaign at national level, in cooperation with the education ministry, the finance ministry, the Cyprus Securities and Exchange Commission (CySEC), as well as other institutional bodies, academic organisations, non-governmental groups and professional associations. 

According to the CBC, the initiative is designed to help young people develop the knowledge, skills and attitudes needed to make informed and responsible financial decisions, while laying the groundwork for their future financial well-being. 

This year’s campaign encourages children and young people to speak more openly about money, exchange experiences, seek reliable information and ask the right questions, so they can manage their finances more effectively.

The National Bank of Greece has announced the completion of the Etalia B transaction involving the sale of non-performing exposures.

The transaction concerns the sale and transfer of a non-performing exposure portfolio worth €0.1 billion in outstanding principal, marking another step in the bank’s balance sheet clean-up efforts.

The portfolio was transferred to Creditable Opportunities Fund SCA SICAV-RAIF, an acquisition vehicle associated with the EOS Group.

The bank stated that the transaction strengthens its overall capital position, supporting its financial resilience.

The Public Debt Management Office, which operated under the Finance Ministry, has announced the results of a 13-week treasury bill auction, raising €50 million from investors.

The auction attracted total bids amounting to €89.7 million, indicating solid demand for short-term government securities.

Out of these offers, the authorities accepted bids with a total nominal value of €50 million, in line with the issuance target.

The auction recorded a weighted average yield of 2.05 per cent, reflecting prevailing market conditions.

A portion of €25 million was allocated to the Special Fund for Pension Benefits, at a weighted average price of 99.4839.