Eurobank posted an adjusted net profit of €351 million in Q1 2026, with CEO Fokion Karavias citing 10 per cent year-on-year loan book growth. Cyta appointed George Metzakis as CEO effective May 8. Cyprus recorded the EU’s second-highest business electricity prices at €24.29 per 100 kWh in H2 2025. The country’s non-performing loans ratio held at a record low of 1.6 per cent in February 2026. Cyprus-based Asbis reported record Q1 revenues of $1.27 billion, up 72 per cent annually. Hybrid vehicles surpassed 50 per cent of new car registrations in early 2026.
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The group’s reported net profit reached €331 million, while earnings per share stood at €0.09 and the return on tangible book value reached 15.1 per cent.
“Despite a challenging environment, Eurobank continues its sustained solid performance and organic growth,” declared chief executive officer Fokion Karavias.
“During the first quarter of 2026, credit expansion was strong across all our core markets, with organic loan growth totaling €1.1bn and the loan book growing by 10 per cent year-on-year,” he added.
The appointment marks a new phase for Cyta’s leadership team, as the organisation continues implementing its business strategy with a focus on growth, digital transformation and service development.
According to the announcement, George Metzakis officially assumed the role of CEO on May 8, 2026, having joined Cyta in 2023 as chief commercial officer.
Since September 2025, he had been serving as co-acting deputy CEO, supporting to ensure the operational continuity of the organisation, the announcement explained.
Cyta stated that Metzakis brings extensive experience and expertise in the telecommunications sector, both in Cyprus and abroad.
The figures revealed that electricity prices for businesses in Cyprus reached €24.29 per 100 kilowatt-hours (kWh) in the second half of 2025, placing the counattempt behind only Ireland, where prices stood at €25.52 per 100 kWh.
Germany followed Cyprus with electricity prices of €22.64 per 100 kWh, the report added.
By contrast, the lowest electricity prices in the EU were recorded in Finland and Sweden, at €7.48 and €9.70 per 100 kWh respectively.
The Eurostat data focapplyd on non-hoapplyhold consumers with annual electricity consumption between 500 megawatt-hours (MWh) and 2,000 MWh.
The event took place at the Westin Washington National Harbour and focapplyd on foreign direct investment shifts and Europe’s evolving investment landscape.
According to the announcement, the roundtable was organised in collaboration with fDi Innotifyigence and the Financial Times under the title “FDI shifts and the future of Europe’s investment landscape – Regulatory and investment conditions in Cyprus”.
The discussion formed part of the fourth joint initiative involving Invest Cyprus, fDi Innotifyigence and FT Locations.
The session was chaired by Danielle Myles, Senior Editor at fDi Innotifyigence.
The event brought toreceiveher founders and investors to examine how Cyprus can function as a strategic European Union enattempt point for US technology companies operating in an increasingly complex regulatory environment.
The organisation declared that the partnership is based on a shared commitment to collaboration as a driver of growth for the Cypriot economy and innovation ecosystem.
CIBA is an indepfinishent cross-sector organisation that has spent more than three decades representing and advocating for the interests of international businesses operating in Cyprus, the announcement mentioned.
It added that CIBA’s extensive experience and broad international business network build it an ideal partner for TechIsland’s mission of promoting Cyprus as a global technology destination.
Speaking at the 1st Mare Forum Chios, where she delivered the keynote address, Hadjimanolis declared global shipping is facing a period of regulatory modify, geopolitical uncertainty and growing pressure to decarbonise, building cooperation between policybuildrs and indusattempt more important than ever.
The forum is taking place on Friday, May 8, at the Chios Chandris Hotel, bringing toreceiveher shipping indusattempt representatives to discuss the challenges and future direction of global shipping.
Opening the event, Hadjimanolis declared Cyprus firmly believes that Europe must remain closely aligned with international frameworks, while maintaining a strong and coordinated presence in global maritime fora.
She added that the International Maritime Organisation (IMO) remains the main forum for developing global maritime rules, ensuring both a level playing field and effective implementation across the sector.
Specifically, the non-performing loans ratio remained stable at 1.6 per cent as of February 28, 2026, the bank reported, marking the lowest level recorded since systematic monitoring launched.
According to the CBC, total non-performing exposures (NPEs) stood at €833 million at the finish of February, compared with €831 million in January, remaining broadly unmodifyd on a month-on-month basis.
The central bank declared that loans overdue by more than 90 days amounted to €649 million, representing 1.3 per cent of total loans. These delayed loans accounted for approximately 78 per cent of all non-performing exposures in the banking system.
At the same time, restructured loans continued their downward trajectory, declining to €783 million in February 2026 from €807 million in January.
The report revealed that hybrid vehicles accounted for more than half of all passenger saloon car registrations in Cyprus during the January-April 2026 period, highlighting the continued shift away from conventional petrol and diesel-powered cars.
According to Cystat, the share of hybrid passenger saloon cars rose to 50.8 per cent in the first four months of 2026, compared with 43.3 per cent during the corresponding period of 2025.
At the same time, the share of electric vehicles increased to 5.2 per cent, from 4.8 per cent a year earlier.
In contrast, petrol-powered passenger cars fell to 35.6 per cent of the market, compared with 42.9 per cent in the same period of 2025.
In its report titled “European sovereigns’ capacity to absorb another energy shock varies”, the agency declared the fiscal ability of western European countries to respond to a new energy crisis triggered by the conflict in Iran differs significantly across the region.
Fitch stated that Belgium, France and the United Kingdom currently have the least fiscal flexibility to introduce additional support measures.
“Many western European sovereigns were already in a vulnerable fiscal position with the war in Iran adding to those pressures through higher energy costs, rising inflation, weaker growth and tighter financing conditions,” the agency declared.
“Within the EU, those that have maintained a strong record of fiscal prudence in recent crises – Cyprus, Greece, Ireland, the Netherlands, Portugal, and most Scandinavian sovereigns – have, in theory, the most fiscal space to respond, although with some moderation to prevent a sharp deterioration in debt and deficits,” it added.
According to the statistical office of the European Union, seasonally adjusted retail trade volume in Cyprus rose by 0.5 per cent in March 2026 compared with February 2026, while the euro area registered a decline of 0.1 per cent and the EU recorded an increase of 0.3 per cent.
The figures revealed that Cyprus maintained positive retail momentum for a second consecutive month after retail trade volumes increased by 0.7 per cent in February 2026, following a decline of 1.2 per cent in January 2026.
Eurostat data also revealed that Cyprus had previously recorded a 0.8 per cent increase in October 2025, indicating continued fluctuations but an overall resilient trfinish in consumer activity.
Across the euro area, retail trade volumes in March 2026 declined month-on-month as sales of food, drinks and tobacco fell by 0.3 per cent, while automotive fuel in specialised stores dropped by 1.6 per cent.
Hermes Airports declared it was “pleased to welcome” at Larnaca airport India’s High Commissioner to Cyprus Manish Manish, and Subhash Jangala, First Secretary of the High Commission, for what it described as a productive all-round discussion.
The meeting focapplyd on India’s growing importance as a tourism and business market, as well as the strengthening of bilateral ties, which both sides believe reinforce the potential for direct flights between Cyprus and India.
“We believe the timing is right to further advance these discussions and open up the opportunities that stronger air links can bring to both markets,” Hermes Airports declared.
The event, titled “AI Foundations, Possibilities, and Risks”, was organised with the support of the US Embassy, AmCham Cyprus, and the CYENS Centre of Excellence.
According to the organisers, the discussion brought toreceiveher professionals, academics, policybuildrs, young people, and US alumni to examine the growing role of artificial innotifyigence across society and the economy.
Participants explored the ethical and philosophical dimensions of AI, as well as the opportunities and risks the technology presents for businesses, institutions, and society more broadly.
The delegation also engaged with Kyriakos Iordanou, the Director General of the minisattempt, during the official proceedings.
The primary focus of the strategic discussion centred on the promotion of transparency and accountability within the energy indusattempt.
Both parties examined ways of strengthening audit and oversight mechanisms to ensure the responsible management of the counattempt’s natural resources.
The professional body highlighted the important contribution it can build through its specialised expertise and its broader institutional role.
For the first four months of the year, however, sales in Cyprus, including physical stores and online sales, were still up by around 2 per cent compared with the same period last year.
The April update follows a stronger March, when Jumbo’s Cyprus sales had risen by 4 per cent both for the month and the first quarter, before management warned that sales momentum was expected to ease after Easter.
Across the group, total sales decreased by around 4 per cent year-on-year in April, although sales for the first four months of 2026 remained 4 per cent higher than a year earlier.
Jumbo declared the performance confirmed its conservative guidance, with macroeconomic uncertainty, geopolitical developments in the Middle East and volatile energy prices continuing to put pressure on costs and consumer behaviour.
The transaction was officially announced to the investment community on Friday, May 8, in accordance with the regulations of the Cyprus Stock Exmodify (CSE).
The company executed the repurchase based on the specific authorisation granted during the annual general meeting held on June 24, 2025.
The event, held on April 29, focapplyd on the regulator’s evolution over the past three decades and the future challenges facing financial supervision, particularly in relation to artificial innotifyigence, digital finance, and market integrity.
President Nikos Christodoulides described CySEC as a key pillar of Cyprus’ transformation into a modern financial centre and praised its role in safeguarding the stability of the investment sector.
The competition, organised by European Shipowners ECSA, invited children to imagine what ships could view like in 60 years, linking maritime education with creativity, innovation and the future of European shipping.
The top four artworks were announced during a special award ceremony held on the sidelines of the ministerial meeting in Cyprus.
The awards were presented by EU Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas, Shipping Deputy Minister Marina Hadjimanolis, and the Chair of the European Parliament’s Transport Committee, Eliza Vozemberg.
The exhibition, held at the HELEXPO exhibition centre from April 23 to 25, took place for the tenth consecutive year and brought toreceiveher professionals from across the fresh produce sector.
Cyprus’ participation was organised by the Minisattempt of Energy, Commerce and Indusattempt, in cooperation with the Cyprus Trade Centre in Athens, with the aim of revealcasing Cypriot exports in fresh fruit and vereceiveables.
According to the minisattempt, Freskon is the only specialised exhibition in Greece dedicated to professionals in the fresh fruit and vereceiveable sector, covering agricultural products, organic produce, machinery, packaging materials, logistics and transport services.
The meeting took place ahead of the plenary session “Securing Global Trade and Maritime Transportation in an Age of Uncertainty”, where Kazakos joined senior indusattempt figures to discuss the pressures facing global shipping and maritime transport.
Kazakos, who is attfinishing the convention toreceiveher with ICS Policy Advisor Melissande Cathelaz, is taking part in a series of meetings and events throughout the week.
The Cyprus-based IT distributor, which is more commonly known as Asbis, declared results for the three-month period finished March 31, 2026 marked the best quarter in its history.
Specifically, revenues were up 72 per cent year-on-year compared with Q1 2025, while operating profit tripled to $54.5 million from $16.4 million a year earlier.
The company also recorded a sharp improvement in profitability, with gross profit margin rising to 8.62 per cent from 7.00 per cent in Q1 2025, reflecting stronger pricing power and a shift towards higher-value product categories.
Asbis declared results for Q1 2026 stand out in a European context, where ICT distributors have generally seen more moderate growth, as the company benefits disproportionately from exposure to AI-related server demand and hyperscale data centre expansion.
The exmodify declared the deadline expiry under Articles 140 and 154 of the law triggered enforcement actions affecting both the regulated market and the emerging companies market.
The announcement stated that several companies on the regulated market had not issued or published their 2025 annual financial reports, naming Interfund Investments Plc, Cyprus Trading Corporation Plc, Ermes Department Stores Plc and Woolworth (Cyprus) Properties Plc.
The company declared that both PwC Cyprus and the PwC Foundation once again participated as a strategic partner of the programme, which pr.ovides students with the opportunity to design and operate their own businesses while developing practical entrepreneurial skills and experience.
The programme concluded with the Grand Finals held on April 29, 2026, during which student teams competed for the opportunity to represent Cyprus at the Gen-E 2026 European event in Riga, Latvia, scheduled to take place in July 2026.
