In its June 2026 economic bulletin, the CBC said it now expects GDP to grow by 2.5 per cent in 2026, down from the 2.7 per cent forecast in March. Growth in 2027 was also revised slightly lower, to 2.9 per cent from 3 per cent, while the economy is expected to accelerate to 3.1 per cent in 2028.
The central bank said the relatively limited impact on this year’s forecast was because some conservative estimates had already been incorporated in the March projection round.
However, it warned that “the main downside risks to GDP” are linked to the possible non-finalisation or non-implementation of the agreement announced between the United States and Iran.
The event took place on June 29 at the Eurobank Campus Conference Centre in Nea Ionia in the presence of chairman George P. Zanias and deputy chief executives Constantinos Vassiliou, Iakovos Giannaklis and Stavros Ioannou.
The programme showcased how the bank is using technology, data, AI and a modern digital architecture to create a more personalised, simpler and more efficient banking experience.
At the centre of the strategy is the largest technology investment programme in Eurobank’s history, with approximately €1 billion earmarked for the 2025 to 2028 period to strengthen infrastructure, cloud technologies, data capabilities, AI and new digital services.
Organised by the Cyprus Information Technology Enterprises Association (CITEA) and IMH, this year’s conference focused on the transformation of the modern business environment through artificial intelligence and digital technologies, which are creating new growth opportunities for businesses and organisations.
The conference was addressed by Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou, who emphasised the importance of digital transformation and the adoption of artificial intelligence in enhancing the competitiveness of the Cypriot economy.
At the same time, leading speakers from Cyprus and abroad took part in the conference, presenting high-level insights and engaging in discussions on the latest developments in digital transformation. Particular emphasis was placed on strategies that can help strengthen business competitiveness in the new digital era.
Yiasemides takes over as of July 1, 2026, with his term running until June 30, 2030, at a time when the professional services sector is being reshaped by digital transformation, artificial intelligence, tighter regulation and shifting client needs.
The handover was set in motion last December, when PwC Cyprus elected Yiasemides as its next CEO, confirming that he would succeed Soseilos at the start of July.
The change also marks the end of a long chapter for Soseilos, who joined PwC in 1989 and became a partner in July 2000, before being appointed CEO of PwC Cyprus in January 2022.
During his tenure, Soseilos led the organisation through a period marked by repeated external pressures, including the aftermath of the pandemic, the impact of the war in Ukraine, the closure of the Russian market, inflationary pressures, geopolitical uncertainty, increasing regulation and the rapid rise of artificial intelligence.
The latest estimates from Eurostat, the statistical office of the European Union, also showed that consumer prices in Cyprus increased by 0.8 per cent on a month-on-month basis in June, as measured by the Harmonised Index of Consumer Prices (HICP).
The increase in Cyprus contrasted with the broader euro area, where annual inflation is estimated to have fallen to 2.8 per cent in June, down from 3.2 per cent in May.
The figures indicate that Cyprus’ annual inflation rate remained well above the euro area average, with price growth accelerating domestically even as inflationary pressures eased across the single currency bloc.
Based on unaudited financial data for the period spanning January 1, 2026, to June 30, 2026, the company anticipates a reduction in operating profit before interest, taxes, depreciation and amortisation.
The company identified the primary factor behind this downturn as an increase in operating and administrative expenses linked to the Rodon Hotel, which serves as the principal asset of the firm.
The company attributed this decline primarily to the ongoing military conflict in the Gulf region.
This geopolitical tension has exerted a negative influence on the broader business environment in which the company operates, Logicom explained.
Despite the impact on turnover, the operating profit from regular and existing business activities is expected to remain at roughly the same levels as the previous year.
Furthermore, profitability, when excluding the results of subsidiary firm Demetra Holdings Plc, is also forecast to remain stable.
The report, written by the firm’s director Panayiotis Agisilaou and partner Stavros Efthymiou, said that public debate around the cost of living often focuses on inflation as measured by the Consumer Price Index (CPI), which tracks the average change in prices across a broad basket of goods and services.
However, it noted that the daily reality for households is shaped more directly by the prices of basic consumer goods, particularly food.
For that reason, Trojan Economics said, looking at the individual components of inflation can give a clearer picture of the pressures facing consumers.
When measured against the same month of the previous year, the index recorded an annual increase of 2.5 per cent.
For the period covering January to May 2026, the index showed an overall increase of 0.6 per cent compared to the corresponding period of 2025.
Analysing the monthly performance from April to May 2026, the index remained stable in the mining and quarrying sector.
However, significant increases were observed in other areas, with the electricity supply sector rising by 13.4 per cent.
The CBC said the contractual balance of all loans managed by Credit Acquiring Companies and Credit Servicing Companies reached €19.61 billion as of March 31, 2026, representing an increase of 1.3 per cent from €19.35 billion at the end of 2025.
The increase was mainly attributed to a €131 million rise in household loans and a €118 million increase in loans to non-financial corporations.
According to the central bank, household loans under management totalled €9.67 billion, of which €662 million were performing and €9.01 billion were non-performing.
The award was presented as part of the organisation’s broader contribution to society and its corporate social responsibility programme, the exchange said.
The distinction, officially named the “Cyprus Stock Exchange Annual Award in memory of former CSE Council chairman Akis Cleanthous”, was presented during a special awards ceremony honouring University of Cyprus students who excelled during the 2025-2026 academic year.
The board of directors secured approval for a final dividend of €0.10 per share, marking the first such distribution in two decades.
This dividend, totalling €20 million, will be paid within 90 days of the approval, with the company confirming a record date of July 9, 2026.
Trading of the company’s shares will occur without the dividend entitlement starting on July 8, 2026.
During the proceedings, first executive director Kleanthes Chandriotes presented the company’s financial performance for the year ending December 31, 2025.
Although the principle of avoiding double charging is clear, the practical reality is far more complicated. Shipping is already operating within an increasingly crowded regulatory landscape, with EU ETS and FuelEU Maritime now in force, while the International Maritime Organisation (IMO) moves towards its own global Net-Zero Framework.
Each system, however, has a different scope, timeline, calculation method and commercial logic. As a result, EmissionLink warned that, without detailed guidance, avoiding duplicate carbon costs will not be straightforward.
This leadership development follows a busy period for the company, which in late June 2026 also reported its latest financial results regarding monthly consolidated revenues.
The compay said that Jaan Kristian Teär brings over 30 years of experience in leading publicly listed companies, having earned recognition for driving strategic repositioning and shareholder value creation across the telecommunications, consumer electronics, and digital infrastructure sectors.
The new director most recently served as the chief executive officer of Bang & Olufsen from 2019 to 2026, where he led the transformation of the firm into a globally positioned luxury technology brand.
The company clarified that the acceptance and assessment of applications for the scheme is ongoing.
It also confirmed that a new €50 million cash payment for the second quarter of 2026 was made as part of the repayment of state aid received by the former co operative banking system.
Kedipes said that since beginning operations in 2018, total repayments of state support have reached €1.87 billion. Of this amount, €1.76 billion relates to cash repayments of state aid.
For the same month, the turnover volume index of retail trade also experienced a positive trajectory, rising by 7.5 per cent when compared to May 2025.
Regarding the value index, the largest annual increase was recorded in automotive fuel at 20.9 per cent, followed by the category of other household equipment (including building materials, carpets, furniture, electrical appliances, and lighting) at 12 per cent.
Additionally, educational and recreational goods, such as books, stationery, sporting equipment, and toys, recorded a value increase of 10.1 per cent.
This regulatory decision follows a formal request submitted by Logicom Services Limited to the commission.
The exemption was granted in accordance with the provisions of article 15(1)(ib) of the Takeover Bids Law of 2007, as amended.
The obligation for a public bid would have otherwise been triggered by an increase in the total percentage of voting rights held by Logicom Services Limited in Demetra Holdings Plc.
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