Cyprus Business News: Eurobank, Eurochambres meeting, housing, shipping, tourism
Addressing the gathering of the Brussels-based network, which represents 1,700 regional and local chambers across the EU, Christodoulides framed Cyprus’ agenda as closely aligned with the interests of European businesses, particularly in the context of the country’s assumption of the Presidency of the Council of the European Union.
“Your presence here at this particular juncture, less than a month after we assumed the Presidency of the Council of the European Union, truly matters,” the president told European chamber leaders.
Christodoulides stressed that a close partnership with the business community is now more critical than ever for Europe.
“At this very moment, when we need to build the union up, a very close partnership with the business community is more vital than ever,” he stated.
The Cypriot-flagged vessel docked at around 08.40 UTC (10.40 local time), according to shipping data, and remained in port throughout the day to carry out loading and unloading operations.
These included trailers, rolling cargo and other freight, reflecting its role as a freight-only vessel serving commercial traffic between Greece, Cyprus and Israel.
Following the completion of port operations, the Patris was scheduled to continue its onward journey to Haifa, maintaining Salamis Lines’ established Greece–Cyprus–Israel corridor.
Acquired in late 2025 as part of Salamis Lines’ fleet renewal programme, the Patris represents a significant capacity upgrade for the Limassol-based operator.
The increase represents a 21.1 per cent rise year-on-year, compared with €138.70m recorded in November 2024.
The figures were compiled through the passenger survey carried out by the statistical service, providing a detailed snapshot of tourism performance.
For the January-November 2025 period, tourism revenue is estimated at €3.6 billion, up from €3.12 billion in the corresponding period of 2024.
This translates into an annual increase of 15.3 per cent, highlighting the sector’s continued recovery and expansion.
The latest update, dated January 2026 and based on 737 entries from 83 contributors, places Limassol ahead of Nicosia, Paphos and Larnaca across most major spending categories.
Rent accounts for 32.2 per cent of monthly household spending in Limassol, the largest share among the four cities in Numbeo’s statistical model.
A one-bedroom apartment in the city centre is listed at €1,338.64 per month, rising to €2,350.00 for a three-bedroom. Outside the centre, rents are listed at €1,147.22 and €1,743.48 respectively.
Elsewhere, rent represents 27.9 per cent of household spending in Nicosia, compared with 29.3 per cent in Paphos and 26.4 per cent in Larnaca.
“The summit came at a pivotal moment, as India’s business community increasingly looked westward for global expansion, while Cyprus positioned itself not simply as an investment destination, but as a trusted European gateway supporting India’s international ambitions,” the bank said.
“Eurobank’s participation underscored its role as a financial catalyst at the heart of India-Greece-Cyprus connectivity,” it added.
The Eurobank Group has emerged over the past two years as one of the most active European financial institutions engaging with the Indian market, Panayiotis Chrysostomou said.
Chrysostomou, who serves as the manager of banking services and representative offices, explained that this engagement is underpinned by strong capital fundamentals and comprehensive expertise across banking, investment, and insurance.
The meeting took place at the premises of the Cyprus Chamber of Commerce and Industry (Keve), bringing together senior leaders of the European chambers network and top officials of the Republic of Cyprus.
Held less than a month into the Cyprus Presidency of the Council of the European Union, the gathering built on earlier exchanges between the Cypriot government and Eurochambres and centred on advancing Europe’s competitiveness agenda.
The meeting was opened by President Nikos Christodoulides, who highlighted the role of chambers of commerce and industry in supporting enterprises and strengthening Europe’s economic resilience.
Welcoming participants to Nicosia, Keve president Stavros Stavrou framed the meeting as taking place at a defining moment for Europe’s economic future.
Speaking to the International Union of Marine Insurance (IUMI), he set out the organisation’s role, its current priorities and his own perspective on the challenges facing international shipping.
For those less familiar with the ICS, Kazakos explained that it is “the global trade association for shipowners and operators”, representing national shipowner associations and “over 80 per cent of the world merchant fleet”.
Established more than a century ago, he said, its purpose has remained consistent. “ICS was established over 100 years ago to represent the shipping industry in the development of international regulation for the global shipping industry,” he noted, adding that “this is still ICS’ core function today”.
The session, which was announced by the Cyprus Chamber of Commerce and Industry (Keve), the coordinator of EEN in Cyprus, will take place online via MS Teams between 12:00 and 13:30.
The agrifoodTEF project is a flagship European initiative funded under the Digital Europe Programme that provides specialised infrastructure for testing and validating new technologies in real-life conditions.
It offers services for testing and experimentation in real-world conditions for new technologies such as Artificial Intelligence (AI), robotics, and automation.
The initiative targets Cyprus Investment Firms, branches of foreign investment firms, AIFMs, ASPs, internally managed AIFs and UCITS structures, crypto asset service providers and listed companies, bringing the full spectrum of regulated activity into scope.
According to CySEC, the survey seeks to gain insights into market dynamics, regulatory impact, operational challenges and future outlooks from the perspective of supervised entities.
The responses will be used for an aggregated and anonymised analysis conducted by KPMG, highlighting the importance of CySEC as a supervisory authority based on the direct and indirect economic contribution of the sectors it oversees.
This international business matchmaking event is organised by ACCIÓ, a department of the Catalan Government’s Ministry of Enterprise and Labour.
The invitation was circulated in Cyprus by the local chamber of commerce, who serves as the coordinator of EEN on the island.
The initiative aims to bring together corporates, investors, and technology providers to co-create solutions for real-world technological needs within the framework of the MWC and 4YFN Barcelona congress.
Participants have the flexibility to choose between physical attendance, online participation, or a hybrid format based on their individual availability and business goals.
According to the centre’s latest report, growth is forecast to reach 3.5 per cent in 2026 and 3.4 per cent in 2027.
In the January issue, it said the growth rate of real GDP in Cyprus is estimated to have slowed from 3.9 per cent in 2024 to 3.5 per cent in 2025.
It added that growth is projected to remain broadly stable at 3.5 per cent in 2026 and 3.4 per cent in 2027.
The centre said the forecasts for 2025 and 2026 remained unchanged compared with the October issue.
According to the announcement, the company won Gold in the categories ‘Best Use of AI/Data for Business Transformation’ and ‘Best Use of Data Analytics’.
In the latter category, it also received a Platinum recognition for its performance compared with other award-winning companies.
The distinctions relate to the real-world application of AI and data in the real estate sector, an area where, until recently, even large institutional investors were often forced to take decisions based on limited or delayed information.
As such, Ask Wire stood out for the automatic integration and enrichment of real estate data drawn from tens of thousands of actual transactions.
Following the vote, GM Powersoft Insights, represented by George Malekkos, was elected president, while Antonia Michael of IBM was appointed vice president.
The new board also includes representatives from across the technology and professional services spectrum. These include Nikos Kaisis of AA AcenetWorks, Michalis Michael of AC Goldman Solutions, Aris Anastasiadis of Advance Business Solutions, Andreas Kasiouris of Ath Loizou and Stelios Kolou of AT Multitech.