Cyprus recorded an employment rate of 81.3 per cent in 2025, placing it well above the EU average of 76.1 per cent, according to a report from Eurostat released on Friday.

The figures highlight Cyprus’ strong labour market performance, with the country exceeding the bloc’s average at a time when employment across the European Union reached a record high since the start of the time series in 2009.

In total, 197.7 million people aged 20 to 64 were employed across the EU, marking an increase of 0.3 percentage points compared with 2024 and 0.8 percentage points compared with 2023.

Cyprus’ overall employment rate of 81.3 per cent represents a notable increase from 79.8 per cent in 2024, signalling continued labour market resilience.

The figures also showed that employment among men in Cyprus reached 86.4 per cent in 2025, up from 85 per cent in 2024, reflecting sustained strength in male participation.

EU tourism ministers gathered in Nicosia on Friday for an informal meeting under the Cyprus Presidency of the Council of the EU, with talks focusing on the bloc’s first sustainable tourism strategy at a time when geopolitical tensions, rising travel costs and pressure on small businesses are weighing on the sector.

The meeting, organised by Cyprus’ Deputy Ministry of Tourism at the Filoxenia Conference Centre, was chaired by Deputy Tourism Minister Kostas Koumis, as ministers and senior officials exchanged views on the challenges facing European tourism with the aim of strengthening coordination and helping shape future policy.

The meeting focused on the European Strategy for Sustainable Tourism, which is expected to play a central role in improving the sector’s resilience and competitiveness while also promoting more responsible and sustainable development.

The second part of the meeting turned to small and medium-sized enterprises, widely seen as the backbone of European tourism, and examined how they can be supported through the green and digital transition.

The Cyprus Chamber of Commerce and Industry (Keve) on Friday released a statement highlighting the importance of the Cyprus Market Access Day (MAD) 2026 in strengthening the internationalisation of Cypriot enterprises and improving access to global markets.

The chamber said the event underscored the need for practical support and targeted guidance to help businesses expand internationally and navigate trade barriers.

The event took place on Thursday in Limassol and was organised by the Ministry of Energy, Commerce and Industry and the European Commission DG Trade and Economic Security, in close cooperation with the Cyprus Chamber of Commerce and Industry (Keve) and the Limassol Chamber of Commerce and Industry (Evel).

Addressing the event, president of the Cyprus Chamber of Commerce and Industry Stavros Stavrou stressed that for a small and open economy such as Cyprus, international trade engagement is a necessity and a key pillar of growth and resilience.

Tourist arrivals to Cyprus fell to 139,198 in March 2026, down 30.7 per cent from 200,736 in the same month last year, according to the state statistical service (Cystat).

For the first three months of the year, arrivals totalled 407,339, compared with 446,596 in the corresponding period of 2025, marking a decline of 8.8 per cent.

The United Kingdom remained the biggest source of tourism in March, accounting for 32.9 per cent of total arrivals with 45,763 visitors.

It was followed by Poland with 17,604 arrivals and a share of 12.6 per cent, Germany with 14,999 or 10.8 per cent, and Greece with 9,009, representing 6.5 per cent of the total.

The Central Bank of Cyprus (CBC) on Friday announced that the non-performing loans ratio of the Cypriot banking sector remained unchanged at 1.6 per cent as of January 31, 2026.

The figure was unchanged compared with the end of December 2025, based on the methodology applied in the European Banking Authority risk dashboard, which includes loans and advances to central banks and credit institutions.

According to the central bank, the coverage ratio of non-performing loans declined slightly to 62.2 per cent at the end of January 2026, compared with 62.3 per cent at the end of December 2025.

Fuel prices in Cyprus remain among the lowest in Europe, consumer protection service director Constantinos Karagiorgis said on Friday.

“We are monitoring refinery prices and the shipments arriving in Cyprus. If we see that market prices are unjustified, we will intervene,” he said.

He added that if any unjustified price increases are detected, the consumer protection service will make the appropriate recommendations to the minister and take the necessary measures.

Asked about a recent consumers’ association report on unannounced price increases at 22 petrol stations, Karagiorgis stressed the importance of considering the full range of market data.

The Central Bank of Cyprus (CBC) on Friday announced the issuance of a €2 commemorative coin marking the Republic of Cyprus’ assumption of the Presidency of the Council of the European Union for the first half of 2026.

The national side of the coin features the official logo of the presidency, which is inspired by Lefkara embroidery tradition, a recognised element of Cypriot cultural heritage.

The design is composed of 27 interconnected elements intended to symbolise European Union unity and harmony among member states.

The CBC explained that the composition reflects member countries coming together under a shared purpose in a stronger and more unified framework.

Safe Bulkers has expanded its board to 11 members from nine, appointing Jeffrey Bunzel and Vasilis Hajioannou with immediate effect, as the New York-listed dry bulk shipowner moves to strengthen both its governance structure and management continuity.

The company said the board approved the expansion following a recommendation from its corporate governance, nominating and compensation committee.

The move brings in capital markets expertise through Bunzel, while also furthering generational succession at the company through the appointment of Hajioannou, the son of founder and chief executive Polys V. Hajioannou.

The Wedding Travel Company, the UK’s largest independent destination wedding company, recently issued an announcement reassuring couples that Cyprus remains a safe destination for weddings despite regional concerns.

The company acknowledged that ongoing news coverage surrounding the Middle East has created uncertainty for some couples planning to marry abroad.

However, it stressed that Cyprus continues to welcome thousands of UK travellers each week, including those attending weddings and events.

The announcement confirmed that resorts, venues, and wedding suppliers are operating as normal, with ceremonies taking place as scheduled across the island.

Mark O’Neil has left his role as president and chief executive of Cyprus-headquartered Columbia Group with immediate effect, according to a report by TradeWinds, with no reason given for his departure.

The report said staff were informed on Thursday through an internal email from chairman Heinrich Schoeller.

Andreas Hadjipetrou, the group’s chief commercial officer and managing director of Columbia Shipmanagement, will take over on an interim basis.

Eurostat on Friday reported a decline in the euro area’s trade surplus for February, while earlier data released this month by Cyprus’ statistical service pointed to a widening trade deficit driven by a sharp drop in exports.

The latest figures showed that the euro area trade surplus stood at €11.5 billion in February 2026, marking a significant decline from €23.1 billion in February 2025.

At the same time, euro area exports fell to €232.4 billion in February 2026, representing a decrease of 6.7 per cent compared with €249.1 billion a year earlier.

Cyprus and Greece will renew and expand their cooperation in foreign investment through the signing of a strategic memorandum of cooperation between Invest Cyprus and Enterprise Greece in Athens.

The agreement will be signed by Invest Cyprus director general Marios Tannousis and Enterprise Greece president and secretary general for international economic relations and extroversion Dimitris Skalkos, marking a further step in strengthening bilateral investment ties.

The signing will take place during the second business presentations summit of Cyprus in Greece, titled “The new changes in the tax system of Cyprus,” which will be held on April 21, between 10:00 and 14:30, at the Theoharakis Foundation amphitheatre in central Athens.

The event aims to provide a detailed presentation of Cyprus’ new tax system to Greek businesses, as Greek investment flows into Cyprus continue to increase steadily.

The Cyprus Stock Exchange (CSE) has announced that it will extend the suspension of trading for four companies listed on the Emerging Companies Market starting from April 20, 2026.

This decision affects Rianeson Investments Plc, G.A.P. Vassilopoulos Public Ltd, A.J. Green Shell Plc, and K. Kouimtzis S.A.

The move was reached pursuant to Article 183 of the Securities and Cyprus Stock Exchange Law because the reasons imposing the continuation of the suspension continue to exist.

Limassol regional tourism board (Etap) prsident Andreas Tsouloftas has highlighted the need for targeted interventions to strengthen the tourism sector and support the local economy.

In meetings with hoteliers and industry representatives in Limassol that took place this week, he stressed that tourism remains a key pillar of development for Limassol, underlining its central role in the city’s economic growth.

According to an announcement by the Limassol regional tourism board, the meetings emphasised that close cooperation between the state, local authorities and the private sector is essential to enhance the city’s competitiveness.

“The tourism industry of Cyprus is undergoing a phase of restructuring and strategic restart, with Limassol playing a central role in efforts to strengthen and extend the tourist season,” the organisation said.

Hybrid cars made up more than half of Cyprus’ passenger saloon car market in the first quarter of 2026, tightening their lead as petrol cars continued to lose ground, while electric vehicles remained stuck below 5 per cent.

According to the Statistical Service’s January-March 2026 motor vehicle data (Cystat), hybrid saloon cars accounted for 50.3 per cent of registrations, up from 42.9 per cent in the same period last year, while electric cars held steady at 4.9 per cent.

Of the 10,627 passenger saloon cars registered between January and March, 5,342 were hybrids.

Petrol-powered cars saw their share fall to 36 per cent from 43.2 per cent a year earlier, while diesel slipped marginally to 8.8 per cent from 9 per cent.

Petrolina (Holdings) Public Ltd on Friday announced that its board of directors will convene on April 29, 2026, to review financial results and consider a potential dividend.

The meeting will take place at 11.00 in the morning at the company’s offices located at 1 Kilkis Street in Larnaca.

During the session, the board is expected to examine and approve the final audited consolidated financial statements for the year ended December 31, 2025.

At the same time, directors will review and approve the audited financial statements of the holding company for the same period.

Demetra Holdings Plc on Friday announced that it completed a share buyback on April 16, acquiring 6,400 of its own shares during the daily session.

The transaction was carried out by Demetra Holdings Plc in line with Cyprus Stock Exchange regulations and relevant Cyprus Securities and Exchange Commission (CySEC) circulars governing such corporate actions.

The company stated that the purchase was executed under the authorisation granted by the annual general meeting held on June 24, 2025, and in accordance with Companies Law Cap 113 Article 57A, which provides the legal framework for share buybacks.

The acquisition took place during a session on April 16, 2026, with the Cyprus Investment & Securities Corp Ltd (CISCO) acting as the intermediary for the transaction.

Pressures facing the transport sector, particularly rising costs linked to the crisis in the Middle East, require a coordinated response at EU level, according to Transport Minister Alexis Vafeades.

Welcoming the meeting of the Heads of Transport Administration of the EU Member States in Limassol on Thursday, Vafeades said the impact of higher fuel prices and fuel adequacy would be discussed at a videoconference of EU transport ministers on April 21, before returning to the agenda at the Informal Council on April 27-28.

He also welcomed the fact that the situation in the Middle East and its impact on transport had been included on the meeting’s agenda.

“Although we are not currently facing fuel shortages in the European Union, the ongoing instability in global energy markets is already affecting transporters, supply chains and connectivity,” the minister said.