Developments in the Middle East, particularly in the Persian Gulf, are adding fresh uncertainty to the global economy, with volatility making investors and businesses more hesitant to move ahead, economist Tassos Yiasemides said.

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.

Association of Cyprus Travel & Tourism Agents (ACTTA) vice president Christos Christou on Wednesday said that tourist arrivals to Cyprus fell by 30 per cent in March due to the war in the Middle East, while warning of further declines in the coming weeks.

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 International Monetary Fund (IMF) has reported that Cyprus will record real GDP growth of 3.8 per cent in 2025 and 3 per cent in 2026, even as global economic risks intensify due to the war in the Middle East.

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.

Publicity surrounding the war in Iran is starting to weigh on tourism in Limassol, with industry figures saying cancellations are rising, hotel occupancy is under pressure, and concern is growing over how the season will unfold in the months ahead.

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.

A powerful call for coordinated climate action, grounded in science, innovation, and regional cooperation, was delivered from Nicosia during the international conference “Climate Action in the Eastern Mediterranean and Middle East Regional Cooperation Empowered by Science and Innovation”.

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.

Ayia Napa mayor Christos Zannetou on Wednesday expressed cautious optimism for tourism in Cyprus, warning that ongoing instability in the Middle East is weighing on bookings and hotel occupancy.

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.

The Cyprus Securities and Exchange Commission (CySEC) recently organised a series of initiatives to promote financial literacy, in the context of the World Investor Week 2025 awareness campaign.

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.

Eurobank S.A. has announced it successfully priced a €400 million senior preferred bond issuance following strong demand from institutional investors.

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.

Eurolife picked up a series of distinctions at the 5th Digital Finance Awards 2026, further underlining its focus on digital transformation and its push to make insurance faster, simpler and more human.

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.

The board of directors of Cypriot beverage maker KEO plc will convene on April 29, 2026 to review the audited financial statements of the group and schedule the next annual general meeting.

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.

The board of directors of K+G Complex Public Company Ltd will meet on April 29, 2026 to evaluate the audited financial statements and consider a potential dividend payment for shareholders.

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.

Cyprus’ industrial production declined by 1.6 per cent month-on-month in February 2026, even as the country maintained positive annual growth, according to a report from Eurostat.

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.

The Cyprus Securities and Exchange Commission (CySEC) on Wednesday announced its 30th anniversary celebrations, including a landmark conference scheduled for April 29, at the Hilton hotel in Nicosia.

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).