In an interview with Entrepreneurial Limassol, a periodical published by the Limassol Chamber of Commerce and Industry (Evel), Tsanos said conference and business tourism had helped soften the impact of weaker leisure travel, while expressing cautious optimism that the market could gradually recover following the end of the regional conflict.
He explained that the improvement had come later than the industry had hoped because most visitors to Cyprus and Limassol decide on their holidays well in advance.
According to Tsanos, developments during February and March weighed heavily on the tourism sector, resulting in Limassol losing a significant share of its market before conditions began to improve.
In addition, he said the presidency helped strengthen the competitiveness of the European economy, advance customs reform, deepen capital markets, enhance tax cooperation and support Ukraine.
Speaking during a press conference, Keravnos described the six-month presidency as both highly demanding and exceptionally productive.
He said that Cyprus had assumed the rotating presidency of the Council during a period marked by severe geopolitical instability, including the war in Ukraine, the conflict in Gaza, developments across the Middle East and their consequences for Europe’s economy and energy security.
The minister stated that these circumstances made it essential for the European Union to adopt decisions that would reinforce its competitiveness and resilience, with the Cypriot presidency placing policies promoting sustainable growth, fiscal stability and the bloc’s strategic autonomy at the centre of discussions within the Economic and Financial Affairs Council (ECOFIN).
The workshop will feature the participation of the Energy Minister Michalis Damianos, alongside key stakeholders active in the energy sector and the electricity market.
A comprehensive list of participants includes representatives from the Energy Ministry, the Cyprus Employers and Industrialists Federation (Oev), the Electricity Authority of Cyprus, the Cyprus Transmission System Operator, the Market Operator, the Distribution System Operator, and the Electricity Market Association.
According to an exclusive Financial Times report, the Dubai-based group is in talks to develop a new multipurpose port on the Fujairah coast, alongside a new container terminal at the emirate’s existing port. Reuters said it had not independently verified the plans.
The development is particularly relevant to Cyprus because DP World operates the multipurpose and cruise terminal at Limassol port. DP World Cyprus was awarded a 25-year concession covering general cargo, break-bulk, Ro-Ro and passenger operations, while fellow group company P&O Maritime secured a separate 15-year concession for marine services, including towage and pilotage.
In an interview with Entrepreneurial Limassol, a periodical published by the Limassol Chamber of Commerce and Industry (Evel), chamber president Andreas Tsouloftas said repeated warnings to the competent authorities went unheeded, leaving Limassol vulnerable when the Vati Wastewater Treatment Plant reduced operations during an ongoing upgrade.
Tsouloftas said the chamber had repeatedly sent letters and held meetings with the relevant ministers, stressing the need for timely planning.
However, he said the necessary measures were never implemented.
The figures, provided by Anad to Entrepreneurial Limassol, a periodical published by the Limassol Chamber of Commerce and Industry (Evel), relate solely to programmes for which payments had already been completed.
During the period, more than 2,625 businesses in Limassol took part in Anad training schemes, representing almost one-third of the 8,261 businesses that participated across Cyprus.
Participation was particularly strong in multi-company training programmes, with 11,967 participants from Limassol compared with 54,754 nationwide.
The Bank of Cyprus Public Company Limited and JCC Payment Systems Ltd are among 36 payment service providers chosen from across the euro area to take part in the pilot.
The CBC said it welcomed the participation of the two Cyprus-based payment service providers and would work closely with them and the ECB in preparation for the pilot exercise.
The pilot forms part of the Eurosystem’s ongoing preparatory work for the possible issuance of a digital euro and is expected to begin in the second half of 2027 and run for 12 months.
During the pilot, selected payment service providers from across the euro area will work alongside the ECB and national central banks to test a beta version of the digital euro in a controlled environment.
According to Yiannis Misirlis, chairman of the Cyprus Property Developers Association (CPDA), public debate over housing affordability usually centres on rising property prices, construction costs and interest rates, while far less attention is paid to one of the most significant cost drivers of all, which are delays in the planning and permitting process.
Although the issue is frequently dismissed as little more than bureaucracy, he explained that the financial consequences are substantial, measurable and, ultimately, borne by homebuyers.
To illustrate the impact, Misirlis presented what he described as a simple but entirely realistic example, based on assumptions widely used in real estate investment analysis.
His example concerns a medium-to-large residential development of 125 apartments in Cyprus, involving a land acquisition cost of €7 million and construction and development costs of €25 million. The total initial project cost would therefore stand at €32 million.
The guide has been published to support the implementation of Circular C608, which governs procedures for external reporting under Cyprus’ whistleblower protection framework.
According to CySEC, the document provides practical examples and detailed guidance on how individuals can submit reports concerning violations of EU law that fall within the regulator’s supervisory responsibilities.
The guide is based on the applicable legislative and regulatory framework, as well as relevant directives, guidelines and circulars issued by competent authorities, particularly CySEC itself.
CySEC said the publication seeks to provide clear and specific instructions for reporting breaches in the fields of financial services, products and markets.
The latest figures showed that 30.3 per cent of Cypriots who were not at risk of poverty or social exclusion lived in homes where energy efficiency had been improved during the previous five years.
By contrast, only 16.7 per cent of people at risk of poverty or social exclusion in Cyprus reported living in homes that had benefited from energy efficiency improvements over the same period.
This represents a 13.6 percentage point gap, making Cyprus one of the three EU countries with the largest disparities between the two groups.
Only the Netherlands recorded a wider divide, with 63.3 per cent of people not at risk of poverty living in energy-efficiently upgraded homes compared with 45.3 per cent of those at risk, a difference of 18 percentage points.
Under the leadership changes, which take effect immediately, Sankar Ragavan has moved from president and chief executive officer to president, with responsibility for group-level strategy, investor relations and the platform’s long-term direction.
Meanwhile, Jimmy Lopez has assumed full responsibility as chief executive officer, taking control of the company’s executive leadership and daily business operations, while Chris Daly will continue as chief technology officer, overseeing cruisePAL’s technology roadmap, product development and innovation strategy.
The company said the restructuring was designed to bring greater clarity to executive responsibilities as cruisePAL expands its international presence and works with cruise operators managing vessels of different sizes and types.
The Cyprus association of building contractors (Oseok) said it unequivocally condemns any unlawful action by contractors or businesses in the sector, stressing its role as the institutional and collective representative of the construction industry.
The association said that, particularly on issues relating to the terms and conditions of employment for workers in the construction industry, it has worked closely with trade unions and the Labour Ministry to establish a regulated framework that all employers are obliged to follow.
“Those who violate this framework create conditions of unfair competition against our members and businesses that operate responsibly, lawfully and consistently fulfil their obligations,” the association said.
The mission-critical enterprise technology services provider announced Kyndryl AI Orchestration for Business, a capability built on the Kyndryl Agentic AI Framework, targeting organisations in retail, consumer packaged goods, travel, transportation and other sectors.
The launch comes as businesses, including those in Greece and Cyprus, increasingly seek to use AI to provide more personalised experiences, respond to developments in real time and offer seamless services. However, organisations continue to face challenges when attempting to integrate the technology into complex operational environments.
According to Kyndryl, the new capability is designed to address these challenges by autonomously interacting with AI agents operating across supply chains, commerce, finance, IT and customer service.
His comments come after the initiative to establish the Pancyprian Cooperative Bank entered its capital raising phase, following approval of its public offering prospectus by the Cyprus Securities and Exchange Commission (CySEC).
The share offering will run from July 22 to November 17, 2026, with up to 42 million new shares, each with a nominal value of €1.00, being made available to investors through the Athlos Capital platform.
The initiative aims to establish a new cooperative bank, with the newly created participation company acting as the vehicle through which citizens and organisations can acquire shares.
“The effort being made is certainly for the common good and we welcome it,” Alexandrou told the Cyprus News Agency (CNA).
Kazakos issued the warning following the latest attack on shipping in the strategic waterway, during which one Indian seafarer was killed and eight others were injured, four of them seriously, after two Emirati oil tankers were struck by Iranian cruise missiles.
The very large crude carriers Mombasa B and Al Bahyah, operated by the shipping arm of Abu Dhabi state oil company ADNOC, sustained significant damage after fires broke out while they were transiting the southern lane of the Strait in Omani territorial waters. The fires were subsequently brought under control, while Iran’s Islamic Revolutionary Guard Corps claimed responsibility for striking two tankers that it said had ignored repeated warnings.
Responding to the loss of life, Kazakos said that “once again seafarers have, through no fault of their own, been placed in harm’s way and sadly another seafarer has lost their life,” adding that “these unjustified attacks on commercial shipping must stop.”
Specifically, the company executed the purchase of 5,600 shares at a price of €1.545 each on July 13, 2026.
The first tranche comprised the acquisition of 3,918 shares.
A second tranche consisting of 1,682 shares was also purchased at the same price.
The company, which trades its corporate bonds on the Cyprus Stock Exchange’s (CSE) New Market, confirmed that the annual interest rate for the securities is set at 8.00 per cent.
This total rate comprises a fixed coupon rate of 4.00 per cent combined with a variable interest rate of 4.00 per cent, in accordance with the terms established in the company announcement dated January 15, 2026.
This introductory encounter provided an opportunity to examine matters of mutual interest and to explore various methods of fostering closer ties between the two public bodies.
The primary focus of the discussion centred on ways to strengthen the cooperation between the Deputy Ministry of Shipping and the Office of the Commissioner of Communications.
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