Cyprus Business Now: Eurobank, fiscal council, Finance Minister, Invest Cyprus
The minister stressed that developments are being closely monitored, as authorities assess how the situation may evolve and affect Cyprus.
“At this moment, the finance ministry is processing scenarios and we are monitoring developments,” Keravnos said following a meeting with Edek president Nikos Anastasiou.
“Depending on these developments and the duration of these crises, we are preparing plans to mitigate any problems that may arise,” he added.
The statement came amid growing concerns over the economic impact of the Iran conflict, particularly on businesses and households in Cyprus.
“The developments in Iran are quite likely to exert significant pressures on the Cypriot economy,” the council stated.
“Although important parameters remain uncertain, immediate preparation is required to address the consequences,” it added.
“With the possibility of the conflict continuing over time, and even evolving into an asymmetric war, the response to developments should take into account the high degree of uncertainty that characterises current data,” the Fiscal Council continued.
Moreover, the council stressed that uncertainty remains exceptionally high, particularly given the risk of a prolonged conflict and its unpredictable trajectory.
“The risks that are forming are spreading across all aspects and industries of the economy,” it stated.
Specifically, the bank received the awards for Cyprus’ Best International Private Bank and Cyprus’ Best for Digital Solutions, marking a double recognition of its services.
“These new distinctions come at a particularly significant time for the bank, following the completion of the legal merger of its operations in Cyprus, and reflect Eurobank’s steadfast commitment to providing high-level banking services and personalised investment solutions,” the bank said.
“At the same time, they confirm the trust of the bank’s clients, as well as the high level of expertise and professionalism of its people in the field of wealth management,” it added.
The event marked the second in a series following the launch of the collaboration in London, as part of ongoing efforts to showcase Cyprus to international investors and companies.
Discussions focused on global capital flows and the growing attractiveness of the Eastern Mediterranean, particularly amid geopolitical shifts and digital transformation.
The event, titled “Capital, Returns & FDI Investing in Europe’s Growth Markets”, brought together investors, business leaders and policy makers, with discussions held under the Chatham House Rule.
Participants explored emerging investment sectors, risk assessment and long-term value creation, while also examining which European markets offer a genuine competitive advantage.
According to an announcement by the Paphos Regional Tourism Board (Etap), the visit formed part of the organisation’s broader strategy to boost the district’s profile abroad and expand its reach in emerging markets.
As part of the programme, Etap took part in a special workshop bringing together the Armenian tour agencies and around 15 hotels in the district.
The event offered an opportunity for direct meetings, presentations of the region’s tourism product and discussions aimed at building new partnerships.
The bank said it is “ready to support its customers and the livestock sector more broadly”, as the situation continues to unfold.
The outbreak has been described as a serious issue that could significantly affect the income of many families, particularly those who own farms or depend on livestock for their livelihood.
The potential impact is also expected to extend to other sectors, including the product supply chain, raising concerns about wider economic repercussions.
“The primary sector remains vital for the Cypriot economy, as it supplies raw materials and products used by the food and manufacturing industries, while also contributing key export goods,” the bank said.
The board of directors of Lordos Hotels (Holdings) Public Ltd has announced that it is scheduled to convene on April 22, 2026, to evaluate the audited consolidated financial statements of the group for the 2025 fiscal year.
The leadership team will also use the session to deliberate on a dividend proposal intended for distribution to its shareholders.
According to an announcement on Friday, the deal involves the issue and allotment of an additional 58,743,000 ordinary shares of nominal value €1.00 each to Prodea, a public listed company registered under the laws of Greece.
Prodea currently holds 120,198,020 ordinary shares in the company and will receive the new shares in consideration for a contribution in-kind to the share capital of the company.
This contribution includes the transfer of 75 per cent of units in Fond Five Lakes, a real estate reserved closed-end fund which owns The Bellevue Hotel Cortina in Italy.
The agreement also encompasses 100 per cent of the shares in Rinascita SA, which is the owner of the Moxy Athens City asset.
This relates to health and safety practices and covers all sectors of economic activity.
The chamber said that Cypriot businesses and organisations are invited to submit applications to compete for the awards, with a deadline set for July 31, 2026.