{"id":66633,"date":"2026-01-28T02:48:07","date_gmt":"2026-01-28T05:48:07","guid":{"rendered":"https:\/\/shipping.einnews.com\/article\/887144596"},"modified":"2026-01-28T02:48:07","modified_gmt":"2026-01-28T05:48:07","slug":"cyprus-business-news-keve-shipping-tourism-banks-latchi-port-a-tax-reform","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/01\/28\/cyprus-business-news-keve-shipping-tourism-banks-latchi-port-a-tax-reform\/","title":{"rendered":"Cyprus Business News: Keve, shipping, tourism, banks, Latchi port, \u00c2\u00a0tax reform"},"content":{"rendered":"
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The Cyprus Chamber of Commerce and Industry (Keve) has hailed the Cyprus-Bahrain Business Forum, held in Manama earlier this week, as a key step towards deepening bilateral business and economic cooperation.<\/a><\/strong><\/p>\n

The forum was co-organised by Keve and the Bahrain Chamber of Commerce and Industry<\/strong>, with the stated aim of strengthening economic and entrepreneurial ties between Cyprus and Bahrain.<\/p>\n

The event brought together senior political and business figures, underlining Keve\u2019s push to position Cyprus as a strategic partner for Bahrain-based companies seeking regional and European expansion.<\/p>\n

Opening remarks were delivered by President Nikos Christodoulides, Bahrain\u2019s Minister of Industry and Commerce Abdulla Adel Fakhro, Bahrain Chamber of Commerce and Industry president Sameer Abdulla Nass and Keve president Stavros Stavrou.<\/p>\n

\u201cThis business forum demonstrates the shared will of Cyprus and Bahrain to deepen their bilateral trade and political relations,\u201d Christodoulides said.<\/p>\n

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Cyprus has pledged to protect the competitiveness of European shipping as the industry faces a \u201cdelicate moment\u201d of rising regulatory pressure and green transition costs.<\/a><\/strong><\/p>\n

Following talks in Brussels, Shipping Deputy Minister Marina Hadjimanolis and ECSA chief Sotiris Raptis met for a working lunch, where they called for a \u201crealistic\u201d approach to emissions that avoids eroding the sector\u2019s global standing.<\/p>\n

At the moment, European shipping is facing mounting regulatory demands, the practical challenges of the green transition and an increasingly complex geopolitical and commercial landscape, all at once.<\/p>\n

Against this background, the discussion focused on how Europe\u2019s shipping industry can remain competitive while adapting to tighter environmental and policy frameworks.<\/p>\n

Particular emphasis was placed on the need for a realistic, technologically neutral approach to emissions reduction, alongside the sector\u2019s critical role in maintaining the EU\u2019s security of supply and supporting economic resilience.<\/p>\n

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The Council of the European Union and the European Parliament have reached a provisional political agreement on targeted amendments to the NDICI\u2013Global Europe financial instrument, in what marks the first successful trilogue concluded under the Cyprus Presidency.<\/a><\/strong><\/p>\n

The agreement is aimed at strengthening the effectiveness of the External Action Guarantee (EAG), allowing the European Union to deploy existing resources in a more strategic and flexible manner, particularly through the European Fund for Sustainable Development Plus (EFSD+), while preserving the framework\u2019s core objectives, principles and safeguards.<\/p>\n

According to a statement by the Cyprus Presidency of the Council of the EU, the changes are expected to simplify procedures and improve flexibility in the use of guarantees, enabling the Union to respond more swiftly and coherently to global challenges.<\/p>\n

Foreign Minister Constantinos Kombos said the agreement \u201cenhances the effectiveness of the EU\u2019s external investment instruments without changing their mandate and objectives\u201d.<\/p>\n

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Cyprus remains firmly on the radar of British travellers planning their island escapes for 2026, even as newer destinations edge into the spotlight, according to Cond\u00e9 Nast Traveller.<\/a><\/strong><\/p>\n

The luxury and lifestyle travel magazine reported that islands continue to dominate summer wish lists, with Mediterranean and Atlantic favourites once again ranking among the world\u2019s most sought-after places to unwind.<\/p>\n

Island holidays, long associated with tranquillity and escape, continue to resonate with UK travellers.<\/p>\n

That preference was reflected in Cond\u00e9 Nast Traveller\u2019s 2025 Readers\u2019 Choice Awards, which saw the Isles of Scilly, Greece\u2019s Naxos and Brazil\u2019s Fernando de Noronha among the leading destinations, while Turks and Caicos topped the Caribbean and Atlantic category.<\/p>\n

However, travel tastes are not standing still. New destinations regularly rise in prominence, shaped by social media, film and television exposure or shifting demand for less crowded experiences.<\/p>\n

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The Cyprus Ports Authority (CPA) has outlined plans to upgrade and expand the port of Latchi, aiming to increase its capacity to more than 500 fishing and recreational vessels, after submitting an Environmental Impact Assessment (EIA) and an ecological assessment to the environmental department. <\/a><\/strong><\/p>\n

The project, described as ambitious, consists of a series of individual works with a total estimated cost of \u20ac41.5 million, to be financed entirely by the authority\u2019s own funds. <\/p>\n

In order to form a comprehensive view of the proposal before issuing a positive or negative opinion, the department of environment has placed the study under public consultation until February 7.  <\/p>\n

At the same time, the ports authority has formally notified the submission of the environmental study through newspaper announcements. <\/p>\n

According to the EIA and the ecological assessment, the project concerns the upgrade and expansion of the existing port of Latchi, which currently accommodates around 350 vessels, including fishing boats, pleasure craft, port police vessels and small cruise ships. <\/p>\n

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Three weeks into the rollout of the new tax system, the tax department has already identified a series of targeted adjustments aimed largely at easing the burden on natural persons, with the House of Representatives signalling it is ready to adopt the proposed changes.<\/a><\/strong><\/p>\n

Tax Commissioner Sotiris Markidis presented the suggested additions and clarifications to the Parliamentary Finance Committee, which approached them positively.<\/p>\n

The additional fiscal cost resulting from the proposed adjustments is not considered prohibitive.<\/p>\n

At the same time, officials stress that the reform already adopted by parliament has strengthened the tax department\u2019s enforcement tools, reinforcing tax collection while supporting efforts to curb tax evasion and safeguard state revenues.<\/p>\n

Addressing the committee, he said the department\u2019s first priority had been to inform individuals, noting that January marks the first month in which employees are paid under the new tax regime.<\/p>\n

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Eurobank on Tuesday announced the launch of its upgraded \u20acpistrofi rewards programme, reshaping cardholder benefits in Cyprus and Greece as part of a broader enhancement of its customer offering.<\/a><\/strong><\/p>\n

The bank said the former Blue card rewards programme<\/strong> has been renamed and enhanced under the \u20acpistrofi brand, offering expanded benefits and a new banking experience<\/strong> to Eurobank cardholders.<\/p>\n

The programme represents the extension of the Eurobank Group\u2019s \u20acpistrofi programme to Cyprus<\/strong>, building on a model already established in the Greek market.<\/p>\n

Eurobank described the programme as pioneering<\/strong>, as it returns cash instead of points<\/strong>, rewarding every eligible transaction with euro-based \u20acpistrofi.<\/p>\n

The bank said \u20acpistrofi is earned on purchases made in both Cyprus and Greece<\/strong>, whether in physical stores or online, at participating merchants.<\/p>\n

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The board of directors of ASBISc Enterprises Plc issued a report this week, detailing a significant increase in the company\u2019s monthly estimated consolidated revenues for December 2025.<\/a><\/strong><\/p>\n

The Cyprus-based IT distributor, which operates as Asbis, revealed that its estimated consolidated revenues<\/strong> for the final month of the year reached approximately $525 million<\/strong>.<\/p>\n

This financial performance represents an increase of approximately 36 per cent <\/strong>when compared to the revenues for December 2024<\/strong>, which stood at $385 million<\/strong>.<\/p>\n

The data presented is based on the best possible estimation<\/strong> prepared by the board, the company stated.<\/p>\n

Final figures may differ slightly from these preliminary data points<\/strong>, the board added.<\/p>\n

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The Bank of Cyprus (BoC) has announced its financial calendar for 2026, with the first scheduled event being the release of its preliminary full-year 2025 financial results.<\/a><\/strong><\/p>\n

The results, which will be accompanied by an analysts briefing, will be released on February 18, 2026.<\/p>\n

An investor update covering 2026 is set to take place on March 3, 2026.<\/p>\n

The Bank of Cyprus will publish its final full-year 2025 financial results and its annual financial report for 2025 on March 30, 2026.<\/p>\n

Moreover, the bank will announce its first-quarter 2026 financial results, followed by an analysts briefing, on May 11, 2026.<\/p>\n

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The Association of Electronic Money and Payment Institutions (ACEMPI), an affiliate of the Cyprus Chamber of Commerce and Industry, held its annual traditional New Year cake-cutting ceremony on Monday at the offices of ECOMMBX.<\/a><\/strong><\/p>\n

According to an announcement released on Tuesday, the gathering took place \u201cin a warm and collegial atmosphere<\/strong>\u201d with the participation of various members of the association.<\/p>\n

Attendees used the event as an opportunity for an exchange of views<\/strong> regarding the latest developments in the fields of electronic money and payment services.<\/p>\n

The meeting also served as a platform for strengthening cooperation<\/strong> between the members of the sector.<\/p>\n

During the proceedings, a detailed reference was made to the key objectives<\/strong> and priorities that ACEMPI has set for the year 2026.<\/p>\n

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The Cyprus Securities and Exchange Commission (CySEC) on Tuesday issued a warning to investors over a number of websites that are operating without authorisation to provide investment services.<\/a><\/strong><\/p>\n

The commission said the websites do not belong to any entity granted authorisation<\/strong> for the provision of investment services or the performance of investment activities under Article 5 of Law 87(I)\/2017<\/strong>.<\/p>\n

CySEC identified the websites extlimited.com<\/a>, networkfinancialservices.com<\/a><\/strong>, gmx-trading.com<\/a><\/strong>, eighttoro.com<\/a> <\/strong>and upfrontfoundation.net <\/strong>as unauthorised investment platforms.<\/p>\n

The commission urged investors to exercise caution and verify the regulatory status of firms before engaging in any investment activity.<\/p>\n

What is more, CySEC said investors should consult the official CySEC website<\/a><\/strong> to confirm which entities are licensed to provide investment services or carry out investment activities.<\/p>\n

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The National Bank of Greece successfully completed a \u20ac600 million green senior preferred bond issue in international markets, marking a major funding milestone for the bank.<\/a><\/strong><\/p>\n

According to an announcement by the bank, the bond carries an interest rate of 3.125 per cent<\/strong> and a yield of 3.23 per cent<\/strong>, reflecting strong pricing conditions.<\/p>\n

The issuance matures in 2031 with a call option in 2030<\/strong>, providing flexibility within the bank\u2019s broader funding strategy.<\/p>\n

This transaction represents the fourth green bond issuance by the bank<\/strong>, further strengthening its sustainable finance profile.<\/p>\n

Following the transaction, green bonds now account for 67 per cent of the bank\u2019s total senior preferred bonds outstanding<\/strong>, underlining the growing weight of sustainable instruments in its funding mix.<\/p>\n

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The total sales of petroleum products in Cyprus rose by 4.9 per cent in December 2025 compared with the same month a year earlier, data released by the Statistical Service (Cystat) showed on Tuesday.<\/a><\/strong><\/p>\n

Total volumes reached 123,274 tonnes, supported mainly by strong increases in marine and aviation fuels.<\/p>\n

The sharpest rise was recorded in marine gasoil provisions, which surged by 76.3 per cent year-on-year, while sales of aviation kerosene climbed by 23.6 per cent.<\/p>\n

Asphalt sales also increased, rising by 51.4 per cent.<\/p>\n

Further gains were recorded in heating gasoil, which rose by 10.9 per cent, motor gasoline, up 7.5 per cent, and road diesel, which increased by 6.1 per cent.<\/p>\n

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Cyprus recorded zero EU Blue Card authorisations for highly skilled non-EU workers in 2024, according to Eurostat\u2019s latest migration and asylum in Europe report.<\/a><\/strong><\/p>\n

The publication examines migration and asylum trends across the European Union<\/strong>, with a focus on migration flows, population by citizenship, migrant skills, international protection and irregular migration.<\/p>\n

EU Blue Cards are work and residence permits for highly qualified non-EU nationals<\/strong>, designed to help EU member states attract skilled professionals in sectors facing labour shortages.<\/p>\n

Eurostat data showed that around 78,100 highly qualified non-EU workers<\/strong> received an EU Blue Card in 2024, a combined work and residence permit for skilled professionals from outside the bloc.<\/p>\n

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Listed company Netinfo Plc will introduce additional shares on the Cyprus Stock Exchange (CSE), according to a market announcement released on Tuesday.<\/a><\/strong><\/p>\n

The Cyprus Stock Exchange announced that it has approved the admission of 192,310 ordinary shares<\/strong> of Netinfo Plc, to be granted free of charge to the company\u2019s group staff<\/strong><\/a>.<\/p>\n

These shares were approved following a special resolution of the Extraordinary General Meeting of shareholders<\/strong> on September 20, 2024.<\/p>\n

The exchange said the new shares will be incorporated into Netinfo Plc\u2019s existing share capital<\/strong>, which will rise to 13,012,980 ordinary shares<\/strong>.<\/p>\n

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Cyprus ranked 15th globally and first in Southern Europe for its innovation business environment, according to the Innovators Business Environment Index 2026 published by StartupBlink.<\/a><\/strong><\/p>\n

The ranking positions Cyprus as an emerging innovation hub<\/strong>, reflecting strong performance across taxation, incentives and overall market attractiveness.<\/p>\n

According to the index, Cyprus achieved first place in the European Union for taxation<\/strong>, while ranking 10th worldwide<\/strong> on the same indicator.<\/p>\n

The country was also placed second in the European Union for business incentives<\/strong>, highlighting highly attractive fiscal and financial conditions<\/strong> for innovative companies.<\/p>\n

Cyprus ranked within the top 25 per cent worldwide for key indicators<\/strong>, including corporate tax, capital gains tax and dividend tax rates.<\/p>\n

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<\/a><\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

… the competitiveness of European shipping<\/span> as the industry faces … Following talks in Brussels, Shipping<\/span> Deputy Minister Marina Hadjimanolis … At the moment, European shipping<\/span> is facing mounting regulatory … on how Europe\u00e2\u0080\u0099s shipping<\/span> industry can remain competitive …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-66633","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/66633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=66633"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/66633\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=66633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=66633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=66633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}