Cyprus Business Now : weekly wrap - up

cyprus-mail.com · Feb 15, 2026 · Collected from GDELT

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Here are the top business stories in Cyprus from the week starting February 9 : Shipping Deputy Minister Marina Hadjimanolis carried out a working visit to Athens and Alexandria between February 4 and 9, as part of broader efforts to bolster the island’s maritime diplomacy in the region. According to a statement from the ministry released on Monday, the visit combined policy dialogue on decarbonisation with regional cooperation meetings ahead of the island’s EU Council Presidency priorities. In Athens, Hadjimanolis took part in the 16th Capital Link Greek Shipping Forum, joining a ministerial round table alongside Greece’s shipping minister Vasilis Kikilias, Malta’s transport minister Chris Bonett and US deputy assistant secretary of transportation Marco Sylvester. On the sidelines, the ministers also met separately, where they discussed sector concerns and current developments surrounding shipping decarbonisation. Meanwhile, during her stay in the Greek capital she addressed the graduation ceremony of the Mediterranean Maritime Academy. CFA Society Cyprus is focusing on professional development, ethics and outreach in 2026, according to Constantinos Kourouyiannis, president of CFA Society Cyprus, who outlined the organisation’s priorities for the year. Kourouyiannis said the society “is guided by a clear vision: to advance the investment profession in Cyprus and empower its members to achieve their career objectives”. He added that “this vision is brought to life through the dedication and collaboration of our board of directors, staff and volunteers,” explaining that their commitment remains essential in meeting these objectives. He further noted that the strategic plan for 2026 is “to drive initiatives that promote professional development, ethical standards, community engagement and thought leadership across the financial sector”. He then turned to the wider industry, saying “we navigate a period of significant transformation in the financial industry, driven by artificial intelligence, digitalization, evolving regulation and rising expectations around ethics and sustainability”. Limassol remains a highly competitive Mediterranean tourist destination but must continue improving its infrastructure and services, Deputy Tourism Minister Kostas Koumis said on Monday after meeting local authorities and industry stakeholders in the city. Koumis chaired a meeting at the Limassol Chamber of Commerce and Industry (Evel) attended by representatives of the Limassol regional tourism board (Etap), the four mayors of the wider Limassol area and various tourism professionals. He said the deputy ministry recognises the important role of local authorities in upgrading tourism services and has therefore asked each municipality to submit memoranda based on ten points set by the ministry. Fisheries transparency has emerged as an early test of Cyprus’ leadership of the Council of the European Union, as Oceana urged the government to tighten rules on fishing vessel ownership to curb illegal fishing and protect compliant operators. With Cyprus holding the EU Council Presidency, the country is now at the centre of policy debates extending beyond national borders, including fisheries governance where environmental protection, economic fairness and regulatory credibility intersect. In this context, international non-governmental organisation (NGO) Oceana formally addressed Agriculture Minister Maria Panayiotou, calling for stronger transparency over the ownership of fishing vessels owned by Cypriot citizens or companies but operating under non-EU flags. The organisation warned that some operators register vessels in countries with weak regulations and lax controls, enabling them to hide their identities and engage in activities that may not meet the environmental or social standards applied to Cypriot-flagged vessels. Cyprus will assume the EU Council Presidency “at a defining moment for Europe”, Cyprus Securities and Exchange Commission (CySEC) chairman George Theocharides said in Brussels, arguing that deeper capital markets are central to Europe’s strategic autonomy and long-term competitiveness. Speaking at the Bloomberg EU Policy Series event, held in the context of the upcoming presidency, he said the motto “An autonomous Union, open to the world” reflects current geopolitical and technological pressures, adding that Europe “must be competitive enough to lead, autonomous enough to protect its interests and innovative enough to shape the future”. He described the financial sector as the “engine” of that transformation. Cyprus’ tax reform has moved from design to implementation, shifting attention to how the new framework will affect competitiveness and investment appeal, according to Stavros Stavrou, president of the Cyprus Chamber of Commerce and Industry (Keve). Speaking at the 9th Cyprus International Tax Conference, Cyprus Tax Reform 2026, he said the reform is expected to have a broadly positive economic impact, provided its effects are judged through real business conditions rather than headline figures. Referring to the corporate tax increase, he said the market is still absorbing the change. Cyprus has adjusted to similar developments in the past, he noted, although the impact differs across sectors. In his view, high-margin businesses may absorb it more easily, whereas lower-margin sectors such as agriculture and industry may need strategic reassessment. Central Bank of Cyprus (CBC) governor Christodoulos Patsalides on Tuesday argued that productivity must be placed at the heart of every reform as Cyprus and Europe confront slowing growth and persistent structural pressures. Speaking during a conference of European Independent Fiscal Institutions held in Nicosia, the governor underlined that productivity gains strengthen growth potential. In addition, he emphasised that reforms lacking a productivity focus risk falling short of delivering durable economic outcomes. Addressing the conference, titled “Fiscal management in times of change: initial responses”, he mentioned that Europe has endured an exceptional sequence of shocks in recent years. Cyprus hosted the launch of the Mediterranean project SheEmpower in Larnaca, aiming to boost the competitiveness of women-led businesses through entrepreneurship, digital and innovation skills under the Interreg NEXT MED programme. The Larnaca and Famagusta District Development Agency (Anetel), acting as lead partner, organised the kick-off meeting, beginning of February, at the environmental information centre in Larnaca. The event welcomed representatives from Cyprus, Spain, France, Italy, Egypt and Lebanon. According to its statement, the project is structured “in five work packages” and will strengthen transnational cooperation, knowledge exchange and networking across the region. Labour Minister Marinos Moushiouttas on Tuesday met with the board of the Cyprus Chamber of Commerce and Industry (Keve) to discuss mounting labour market pressures and key policy reforms affecting businesses. The meeting took place in Cyprus and involved members of the Keve board of directors, who held extensive discussions with the minister on labour and social insurance issues. During the talks, serious workforce shortages across all sectors of economic activity were highlighted as a growing challenge affecting the smooth operation of businesses. Keve stressed that these shortages are undermining business competitiveness, with knock-on effects for the wider economy. Signals for the upcoming summer tourism season are encouraging, with a steady flow of bookings from all markets, particularly favouring the Famagusta district, according to Panayiotis Constantinou, president of Famagusta Hoteliers Association (Pasyxe). Speaking to the Cyprus News Agency (CNA), Constantinou explained that the period after Christmas remains particularly difficult for tourism in the area. However, “the messages we are receiving for the start of the new summer season, which is estimated at the beginning of April, are good, since most of the hotels in the district will start operating.” At the same time, demand appears broad-based. “There is a good flow of bookings from all markets, especially from the main markets that prefer the Famagusta district, namely the United Kingdom, Poland, Israel, the Scandinavian countries and the countries of Central Europe,” he said. Business and investment opportunities between Cyprus and India took centre stage this week during a broad meeting and open discussion organised by the Famagusta chamber of commerce and industry for its members at a hotel in Limassol. The event featured Manish Manish, the High Commissioner of India to Cyprus, as the guest speaker. According to a press release issued by the chamber, the event was held under the title “Building Bridges: An overview of India and India-Cyprus relations”. During the event, Manish presented an overview of the modern Indian economy and outlined recent developments in India-Cyprus bilateral relations, highlighting the significant business and investment opportunities emerging between the two countries. Cyprus is highlighted in a new EU-backed study examining the gender investment gap across Europe, particularly in deep tech, a category of innovation which, according to the report, is central to Europe’s long-term competitiveness, security and economic resilience. According to the study, deep tech refers to companies built on scientific breakthroughs and advanced engineering, often emerging from research laboratories and universities. It is mentioned that these include firms working in artificial intelligence, advanced materials, semiconductors, robotics, quantum technologies, climate and energy systems, health and biotech and industrial technologies. Unlike many consumer-facing digital startups, deep-tech companies typically require long development timelines; moreover, they require specialised talent and significant upfront capital bef