The CBC said the level of interest rates on outstanding loans in Cyprus remained close to the respective eurozone median.
The spread between Cyprus and the eurozone median stood at zero for household loans and 0.4 per cent for loans to non-financial corporations.
At the same time, the central bank said interest rates on deposits in Cyprus remained outliers within the eurozone, standing at the lowest levels among member states.
According to the CBC, this was linked to the excess liquidity of Cypriot credit institutions, which remains among the highest in the eurozone.
The consumer price index (CPI) increased by 1.73 points in April 2026, reaching 102.80 units compared with 101.07 units in March 2026.
Cystat explained that, from January 2026 onwards, the base year for the index has changed to 2025, with a set value of 100 units.
The statistical service added that the index reference year had previously been 2015, with a value of 100 units, used between January 2016 and December 2025.
Compared with April 2025, the largest increases among economic categories were recorded in petroleum products, which rose by 18.3 per cent, and agricultural goods, which increased by 9.6 per cent.
The largest annual decrease was observed in electricity and water, which fell by 7.9 per cent.
The bank stated that the agreement was signed with entities controlled by Fairfax Financial Holdings Limited in connection with the acquisition of 80 per cent of Eurolife FFH Life Insurance Single Member S.A.
The transaction follows an earlier announcement made on October 13, 2025, the bank stated.
According to the announcement, the consideration for the acquisition amounts to approximately €813 million.
Upon completion of the transaction, Eurobank will own 100 per cent of Eurolife Life.
The bank also confirmed that it will continue to hold a 20 per cent stake in Eurolife Holdings’ general insurance business.
Specifically, the volume of beer delivered in April reached 3.4 million litres, down from the 3.7 million litres recorded during the same month of the previous year.
Domestic market deliveries experienced a year-on-year decrease of 3.3 per cent as the local industry adjusted to changing demand.
However, the most substantial decline was observed in beer exports, which plummeted by 57 per cent during the period.
In contrast to the annual figures, monthly beer deliveries actually increased by 45 per cent when compared to the volumes handled in March.
The study, authored by Antonio Sánchez Serrano, found that banks dominate financial systems across most euro area countries, but Cyprus is among four exceptions where other financial institutions and investment funds play a central role.
In Cyprus, these entities are positioned at the core of the financial network, maintaining strong links with the rest of the world but limited connections to the domestic real economy.
This contrasts with the majority of euro area countries, where banks maintain extensive ties both with other financial sectors and with households, companies and government activity.
The findings are based on network analysis using who-to-whom financial data for the final quarter of 2024, covering exposures such as loans, deposits, debt securities and listed shares.
The paper explained that network analysis helps map relationships between sectors, identify key nodes and understand how financial shocks may spread through the system.
TechIsland and Women in Tech Cyprus will host a full-day “STEM for All” programme at The Doers Summit 2026 in Limassol on May 21, bringing together technology leaders, policymakers and industry representatives to discuss artificial intelligence, inclusion and the future of work.
The event, organised by TechIsland in collaboration with Women in Tech Cyprus, will take place at the Kolla Culture Factory as part of The Doers Summit 2026.
The organisers said the programme, hosted on the Pentagon Stage, will feature keynote speeches, panel discussions and fireside chats involving speakers from Cyprus and abroad.
The discussions will centre on the growing role of artificial intelligence in everyday life, work and society, with organisers stressing that technology is no longer limited to specialists and increasingly affects people across all sectors and backgrounds.
According to the announcement, the STEM for All initiative reflects the view that science, technology, engineering and mathematics now underpin the functioning of modern societies and should not be regarded as fields reserved solely for engineers or IT professionals.
According to an announcement from the Deputy Ministry, Hadjimanolis will first travel to Chios to attend the 1st Mare Forum Chios, where she will deliver the event’s keynote address.
The forum is expected to bring together representatives from the international shipping industry, who will discuss the challenges facing global shipping as well as the sector’s future direction.
The visit forms part of Cyprus’ broader efforts to strengthen its international maritime presence during the country’s Presidency of the Council of the European Union.
On May 9, 2026, the deputy minister will travel to Brussels ahead of a conference titled “Shaping Policy, Driving Change: Equality and Inclusion in the Maritime Sector”, organised by the Cyprus Shipping Deputy Ministry.
The conference is scheduled to take place on May 12, 2026 within the framework of the Cypriot EU presidency.
Representatives of Sykxa – the hotel workers’ union affiliated with Peo –and Ouxeka – affiliated with Sek – said the ministry had been awaiting April payroll data before forming a complete picture and making decisions on whether to extend the scheme.
Sykxa secretary-general Neophytos Timinis said a meeting held at the labour ministry on April 29 examined current data and projections for May, including booking trends, cancellations and forward estimates.
“The data shows some positive movement, but not what would be expected for a strong tourist season,” Timinis said, adding that May is also likely to remain at low levels.
He explained that the absence of April payroll data at the time of the meeting meant the ministry could not yet fully assess whether workers who had been unemployed, particularly those laid off at the end of October, had returned to work.
The breakfast event featured CBC governor Christodoulos Patsalides in the presence of Cyprus Chamber of Commerce and Industry (Keve) president Stavros Stavrou and secretary-general Philokypros Roussounides.
According to AmCham Cyprus, the gathering brought together leading voices from the business and financial community for discussions on the economy, banking and investment conditions in Cyprus and the euro area.
During the session, Patsalides shared views on the evolving economic landscape in Cyprus and the eurozone, including developments related to inflation, interest rates and the broader monetary policy outlook.
The discussions also focused on the resilience of the Cypriot banking sector, current regulatory developments and the challenges and opportunities facing businesses in a complex international environment.
The project, known as the M³Phantom or Modular Motion Medical Phantom, is led by a multidisciplinary team combining expertise in medical imaging, engineering, intellectual property, operations and commercialisation strategy.
Supported by non-profit organisation Cyprus Seeds, the team is headed by professor Yiannis Parpottas, chief executive officer, who has coordinated all major development work on the system.
Technical leadership is provided by Dr George Charitou, chief technology officer, who supports system upgrades and oversees operations in major hospitals in Cyprus.
Commercialisation and intellectual property strategy is led by Panagiotis Mousikos, chief commercialisation and IP officer, while Dr Athanasia Tzortzi, chief operations officer, focuses on communication and marketing strategy.
The engineering dimension is strengthened by professor Antonis Lontos, who contributes expertise in manufacturing engineering.
The M³Phantom system is described as a next generation medical imaging phantom designed to simulate real patient movement and disease conditions.
According to the announcement, Constantine Dovrolis has been appointed as the inaugural holder of the XM Chair of Artificial Intelligence at the University of Cyprus.
The position represents the first major industry-endowed AI chair in Cyprus and is being funded by XM, which has committed more than €1 million over a ten-year period.
The funding will support research, education and the practical application of artificial intelligence technologies.
33East described the decade-long industry commitment as unprecedented for Cyprus, adding that it provides the country with a sustained and application-oriented AI research platform that had long been absent from its deeptech infrastructure.
Dovrolis spent more than two decades as a faculty member at Georgia Tech before relocating to Cyprus to lead CaSToRC at The Cyprus Institute.
He is also an ACM Distinguished Member and serves on Cyprus’ National AI Taskforce.
At the same time, Triantafyllos Stylianopoulos was named Scientist of the Year at the 24th Bank of Cyprus Man of the Year Awards.
The meeting focused on reinforcing Limassol as a modern and competitive tourism destination through closer coordination among stakeholders and shared strategic planning.
According to an announcement from the board, participants agreed to continue regular structured dialogue and to jointly promote specific tourism actions aimed at strengthening the local tourism product.
The board said discussions covered both challenges and opportunities in the tourism sector, with particular emphasis placed on the need for stronger intersectoral cooperation across tourism bodies.
Participants exchanged views and proposals on improving the tourism experience in Limassol, upgrading service quality standards, and shaping a common destination branding strategy for the city.
The airline described the latest addition a “significant milestone” for the company, particularly during what it called a period of “regional complexity“, saying the move reflects a strategy of “strategic resilience”.
“The latest fleet expansion further strengthens the airline’s position as the largest Cypriot airline and reaffirms its commitment to supporting and expanding air travel from Cyprus and across the wider Mediterranean region,” the airline said.
According to the company, the additional Airbus A320 will help the airline increase frequencies on high-demand routes from Larnaca and Paphos, while also supporting expansion into new markets.
The fleet expansion follows the restoration of key air links between Cyprus and Israel, as well as the launch of new European routes to destinations including Barcelona and Prague.
Addressing participants at a forum in Limassol, he stated that Cyprus is open for business and aims to build a two-way value flow with companies, facilitating their access to Europe, while positioning the country as a platform for international expansion.
“Many people often ask whether Cyprus can truly become a global or regional hub; the answer is yes,” he said.
He added that between 2020 and 2025 the number of companies entering the startup ecosystem has multiplied fivefold.
Skourides explained that the Cyprus ecosystem is expanding rapidly, driven mainly by trust in innovation, transparency and institutional change, stressing that confidence in the system is one of the key growth factors.
The official inauguration ceremony for UNIC Athens took place on April 30 in the Elliniko area of Athens, in the presence of Greek Prime Minister Kyriakos Mitsotakis, President Nikos Christodoulides, representatives of the Greek government, and members of the academic and business communities.
Eurobank was represented at the event by deputy chief executive officer Konstantinos Vassiliou and other executives from the group.
According to the announcement, UNIC Athens will serve as the academic and research base of the University of Nicosia in Greece.
The investment is being implemented through the participation of the University of Nicosia and Hellenic Healthcare Group, with the project described as strengthening the international outlook and global presence of Cypriot education.
According to figures from Eurostat, multinational enterprise groups employed 18 per cent of the workforce in Cyprus, placing the country among the lowest in the EU and EFTA, alongside Greece and Iceland.
In total, 3,390 multinational enterprise groups were operating in Cyprus in 2024, reflecting its participation in the wider network of international business activity.
Across the EU and EFTA, 149,678 multinational enterprise groups were active in 2024, demonstrating the scale of cross-border corporate presence in the region.
Of these, 96,201 groups, representing 64.3 per cent, were controlled by EU countries, while 14,098 groups, or 9.4 per cent, were controlled by EFTA countries.
According to the latest figures, industrial producer prices in Cyprus fell by 1.3 per cent in March compared with February 2026, reversing the 0.2 per cent increase recorded in February and the 0.6 per cent decline seen in January.
On an annual basis, producer prices in Cyprus decreased by 1 per cent in March 2026 compared with March 2025, following a 0.5 per cent rise in February and a 0.1 per cent drop in January.
In contrast, industrial producer prices in the euro area rose by 3.4 per cent month-on-month in March, while the EU recorded a 3.2 per cent increase, marking a sharp turnaround from the declines observed in February.
Compared with March 2025, producer prices increased by 2.1 per cent in the euro area and by 2.0 per cent in the EU, highlighting broader inflationary pressures across the bloc.
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