Cyprus Business Now: IMF, economy, tourism, Eurobank, CySEC, Eurolife,
Speaking to the Cyprus Agency News (CNA), Yiasemides said that, despite the ceasefire, uncertainty over how talks between the United States and Iran will develop is discouraging investors from taking new initiatives.
“It is the worst thing for an economy to have volatility,” he said, adding that investment decisions and new business initiatives require a stable economic and political environment.
He explained that this level of uncertainty is creating wider challenges for the global economy, while the repeated ups and downs, especially in such an energy-sensitive region, are affecting the decisions of both governments and businesses and slowing economic activity internationally.
Speaking during a press conference in Nicosia, held in the context of the Travel Expo Cyprus 2026 exhibition, Christou said that some airlines have reduced summer flights as a result of the ongoing developments in the Middle East.
Referring to outbound travel, he said that interest among Cypriots for summer bookings is currently increasing.
“There was a freeze initially, but in recent days, and particularly now with the exhibition, we expect interest to grow further and anticipate that all the seats we have secured will be filled,” he said.
He explained that bookings declined at the onset of hostilities between the United States, Israel, and Iran, particularly after the fall of an Iranian drone in the British Bases in Akrotiri.
The projections place Cyprus among the stronger performing economies, despite a broader slowdown expected across Europe and globally.
The IMF warned that the global economy is entering a period of heightened uncertainty, with conflict driven disruptions testing recent resilience.
Global growth is now forecast at 3.1 per cent in 2026 and 3.2 per cent in 2027, under the assumption that the conflict remains limited in scope and duration.
Speaking to Entrepreneurial Limassol, a periodical published by the Limassol Chamber of Commerce and Industry (Evel), Evel president Andreas Tsouloftas, Pasyxe general manager Christos Angelides, and Stek general manager Chrysemily Psilogeni all pointed to the same problem, saying the image taking shape abroad has little to do with the reality on the ground in Cyprus.
Tsouloftas said the fallout was already being felt, with cancellations picking up as the impression spread overseas that Cyprus is somehow caught up in the conflict.
In his view, that perception was fed by extensive international coverage of an isolated incident in Akrotiri, along with wider attention given to developments in the region and visits by foreign leaders to Cyprus.
The event took place on April 8 and 9, 2026, at the Filoxenia Conference Centre, within the framework of the Cyprus Presidency of the Council of the EU.
It was organised by the Cyprus Institute and the Deputy Ministry of Research, Innovation and Digital Policy.
Representatives of governments, international organisations, policymakers, and scientists underscored the urgent need for collective action in one of the world’s most climate-vulnerable regions, with participants from 18 countries contributing to the programme.
The conference featured addresses by President Nikos Christodoulides, European Commissioner for the Mediterranean Dubravka Suica, Prince Hassan bin Talal of Jordan, Agriculture Minister Maria Panayiotou, and Deputy Minister Nikodemos Damianou.
In addition, Energy Minister Michalis Damianou and European Commissioner for Fisheries and Oceans Costas Kadis outlined policy responses and strategic actions by their respective ministries and the European Union on the climate crisis.
Speaking to the Cyprus News Agency (CNA), Zannetou explained that the tourism sector in Ayia Napa and the wider Famagusta district is facing significant pressure, as reflected in a noticeable slowdown in reservations.
“Unfortunately, the ongoing conflict in the Middle East is tempering expectations across the industry in the Famagusta district, especially as we have seen a reduction in April occupancy of around 40 per cent,” said the Ayia Napa mayor.
He highlighted that the freeze in bookings from international partners has forced many properties to stay shut.
“Several hotels have remained closed due to low occupancy and the suspension of bookings by foreign tour operators, resulting in accommodation providers delaying their opening until the end of April instead of the beginning of the month,” he said.
One of these initiatives involved CySEC chairman George Theocharides delivering an online lecture at the Open University of Cyprus.
The lecture formed part of CySEC’s broader awareness campaign, which placed particular emphasis on improving financial knowledge among young people.
During the session, the importance and power of financial literacy was highlighted as a key foundation for informed decision-making in modern financial markets.
The bank said the Fixed Rate Senior Preferred Notes due July 17, 2029 were placed privately with Morgan Stanley, highlighting robust investor appetite.
The bonds carry a yield of 3.50 per cent and include a call option at par on July 17, 2028.
Settlement of the transaction is scheduled for April 17, 2026, while the securities will be listed on the Luxembourg Stock Exchange Euro MTF market.
According to its statement, this year’s results, in particular, reflected the company’s emphasis on innovative applications and technological initiatives aimed at simplifying processes and improving the overall customer experience.
Eurolife secured four Gold awards, including Best Paperless Digital Initiative for its Myeurolife App.
The company also took top honours for its Corporate Governance & Data Quality Platform for the Artificial Intelligence era, winning in the categories of Best Risk Mitigation Initiative, Best Compliance/Regtech/KYC Initiative, and Best Datawarehouse – Advanced Data Processing Initiative.
According to an announcement, this formal session is scheduled to begin at 09:30 a.m. on the final Wednesday of the month.
The primary objective of the gathering is to consider the approval of the group accounts for the financial year that concluded on December 31, 2025.
According to an official announcement, the session is scheduled for the final Wednesday of the month to address several critical items concerning the company’s fiscal performance.
One of the primary objectives of the meeting is the approval of the annual report for the financial year that concluded on December 31, 2025.
The latest figures showed that Cyprus industrial output fell compared with January 2026, when it had increased by 2 per cent, following a decline of 1.5 per cent in December 2025 and a rise of 1.5 per cent in November 2025.
On an annual basis, however, Cyprus recorded a 0.8 per cent increase in February 2026, compared with stronger growth of 5.4 per cent in January, 2.8 per cent in December 2025, and 10 per cent in November 2025.
In its statement, the commission said that president Nikos Christodoulides will deliver the opening address at the anniversary conference.
The event will bring together senior figures from European and global regulatory bodies, including the heads of the European Securities and Markets Authority (ESMA) and the International Organisation of Securities Commissions (IOSCO).