Speaking to the broader European context, the statistical office said that euro area annual inflation is expected to reach 2.5 per cent in March, up from 1.9 per cent in February.
In Cyprus, the latest estimate shows that inflation accelerated on an annual basis, rising from 0.9 per cent in February 2026.
The figures also indicate that the monthly inflation rate in Cyprus stood at 1 per cent in March 2026.
Compared to the same month a year earlier, inflation in Cyprus was lower, as it had reached 2.1 per cent in March 2025.
The survey gathered responses from 77 business leaders in Cyprus, offering insight into the evolving challenges shaping the local business environment.
The findings reflect CEO sentiment prior to the outbreak of the war in Iran, providing a snapshot of business concerns before the latest geopolitical developments.
For Cyprus-based CEOs, the availability of key skills was identified as the leading threat, with 43 per cent of respondents viewing it as a major risk over the coming year.
The figure places Cyprus significantly below the European Union average of €34.9 and the euro area average of €38.2.
This data highlights a persistent cost gap between Cyprus and the higher-cost economies of the continent.
When compared with the previous year, hourly labour costs in Cyprus increased by 3.5 per cent.
This growth rate aligns exactly with the same 3.5 per cent rate observed in both Spain and Luxembourg.
The rise in Cyprus reflects a broader upward trend across Europe where costs increased by 4.1 per cent in the EU and 3.8 per cent in the euro area.
Speaking to the Cyprus News Agency (CNA), Papacharalambous said that the main problem facing Cyprus as a tourist destination is the negative perception of safety overseas, which is being reinforced by travel advisories issued by various countries.
He explained that developments related to the war will be decisive for the course of tourism in Cyprus, while travel agents are also awaiting further government measures to address the crisis.
He added that “current support measures are focused on airlines and hotels”, while other sectors of the economy affected by the crisis have not been included, with agents expecting broader government support across the economy.
The House energy committee was discussing the increase in the price of fuels amid the Middle East crisis and the impact on the economy at large.
An official of the Electricity Authority of Cyprus (EAC) predicted electricity bills in April will be around 5.5 per cent lower compared to March. This is because of the 4 per cent drop in VAT, combined with a change in the fuel mix used by the EAC.
But, the official added, this reduction “will be lost in the coming months, when it’s expected that the next fuel purchases – if current fuel prices remain the same – will lead to increasing electricity costs”.
The bank stated that the report covers the Bank of Cyprus Group, comprising Bank of Cyprus Holdings Public Limited Company, Bank of Cyprus Public Company Limited and its subsidiaries.
It added that the approved annual financial report will be available on the group’s website under the investor relations section.
According to the bank, the results announcement includes updates on strategy and outlook, reflecting the investor update presentation published on March 3, 2026, as well as recent developments including the minority investment in Wealthyhood and the acquisition of a performing loan book and deposits of the Cyprus Development Bank Public Company Limited.
It clarified that there were no other meaningful divergences from the preliminary group financial results announced on February 18, 2026.
Responding to question from the Cyprus Mail about falling bookings and potential economic risks ahead of the summer season, Letymbiotis said the situation is already showing signs of improvement.
“We are seeing that flight schedules from all airlines are returning to normal, and in fact have already largely resumed full operation,” he said.
“Just yesterday, new flights were announced by additional airlines operating to and from Cyprus.”
He added that the government has held meetings with stakeholders in the hotel industry and last week announced a support plan for April aimed at stabilising the sector.
The professor of energy systems at Frederick University and former chairman of the Cyprus Energy Regulatory Authority recently assessed the conclusions of the European Council adopted on March 19, 2026 regarding competitiveness and the single market.
“The battle for cheaper electricity now clearly passes through the energy transition but also through immediate interventions in costs,” he said.
He explained that the recognition by European leaders that price spikes in imported fossil fuels are not accidental but represent a structural risk sends a strong political signal.
“More renewables, storage, interconnections and domestic clean production are prerequisites for strategic autonomy and permanently lower electricity prices,” he explained.
“His appointment, effective from May 1, 2026, marks the beginning of a new chapter for ICPAC, grounded in strong leadership, extensive experience, and a deep commitment to professional excellence,” the announcement stated.
ICPAC pointed out that Papadatos brings “a distinguished career spanning leading international firms”, as well as key executive roles in Cyprus.
His experience, the institute added, is expected to “provide valuable insight and vision”, strengthening its position within the professional landscape.
The company stated that this anticipated decline is primarily attributed to the war conflict between the United States, Israel and Iran in the Gulf region, which has negatively affected the broader business environment.
Despite the expected reduction in revenue, operating profit from ordinary activities is projected to remain at approximately the same levels as in the previous year.
In addition, profitability excluding the results of Demetra Holdings Plc is also expected to remain broadly unchanged.
Specifically, the Cyprus-based IT distributor, primarily known as Asbis stated that it does not comply with principles 3.1, 3.3, 3.6 and 3.10, primarily relating to its internal audit function and oversight structures.
The announcement outlined that the group maintains a transparent disclosure policy and ensures effective communication with investors through multiple channels, including its corporate website.
It confirmed that financial results are published promptly after each reporting period, reinforcing its commitment to timely and fair disclosure.
The bank said that its innovative programme continues to run successfully, engaging young people in real-world challenges related to digital security and resilience.
According to the bank, “the new generation of Limassol demonstrated its ability to respond to modern challenges by actively taking part in the initiative focused on cybersecurity and the protection of critical infrastructure”.
It added that through the programme, students were asked to confront realistic cyberattack scenarios, developing ideas and approaches that highlighted their creativity, responsibility and technological readiness.
The bank explained that it organised the latest action in collaboration with the Education Ministry and non-profit association TechIsland, focusing on resilience, response and prevention of cyberattacks targeting critical infrastructure.
The service reported that the index rose by 0.2 per cent month-on-month compared to January 2026.
On an annual basis, the index recorded an increase of 1.1 per cent year-on-year compared to February 2025.
For the period January to February 2026, the index showed a 0.9 per cent increase compared to the corresponding period of 2025.
It should be noted that the Industrial Output Prices Index uses 2021 as its base year, set at 100 units, tracking monthly price fluctuations against the 2021 average.
The meeting is scheduled to take place at 15:30 in the events hall on the fourth floor of the company’s headquarters located at 46 Griva Digeni Avenue.
The primary purpose of the gathering is the examination of the annual report of the company for the year 2025, which includes the management report, the corporate governance report, and the audited financial statements for the year ended December 31, 2025.
The transaction was carried out during the trading session on March 30, 2026, at an average purchase price of €1.374 per share.
“Demetra Holdings Plc wishes to inform investors that the purchase was made in accordance with the relevant authorisation of the annual general meeting dated June 24, 2025,” the company stated.
The buyback was executed through the Cyprus Investment & Securities Corporation Ltd (CISCO), which acted as the facilitating broker for the session.
The shares, each with a nominal value of €0.001, have also been entered into the CSE Central Securities Depository and Central Registry.
The newly listed shares were issued and allotted through a private placement process completed in two stages during 2025.
On April 17, 2025, a total of 59,130,974 ordinary shares were issued at a price of €0.372055 to shareholders of GMM Global Money Managers Ltd and GMM Global Money Managers AIFM Ltd.
Each of these shares carries a nominal value of €0.10 and provides one voting right per share.
As a result, the company confirmed that the total number of voting rights amounts to 435,772,799.
The bank also stated that it does not hold any treasury shares, meaning all issued shares are in circulation.
The disclosed figure is intended to assist shareholders in determining their reporting obligations.
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