Hadjimanolis first travelled to Chios on May 7, where she took part in the 1st Mare Forum Chios and delivered the conference’s keynote address.
During her remarks, she referred to the major challenges facing global shipping, stressing the need for cooperation, collective action and joint initiatives at a time when the sector is being tested by geopolitical uncertainty, regulatory pressure and rapid technological change.
She said Cyprus must help ensure that Europe speaks with a clear and coordinated voice in global maritime affairs, while remaining aligned with international frameworks and the International Maritime Organisation, which she described as the main forum for developing global maritime rules.
Speaking at the High-Level Conference on Equal Opportunities and Inclusion in Shipping in Brussels this week, organised by the Shipping Deputy Ministry, Christodoulou said “the future of shipping must be built on equal opportunities, merit and inclusion, rather than on systems that continue to exclude women.”
The conference was held in the context of the Cyprus Presidency of the Council of the European Union and brought together representatives of European institutions, international organisations and senior executives from the shipping industry.
In her keynote address, Christodoulou said that “real change requires political courage, corporate responsibility and collective action”, adding that institutions must be willing to challenge existing structures and promote substantive reforms.
One of the most important annual gatherings for the island’s shipping industry, the general meeting focused on the chamber’s continued work to support, promote and strengthen Cyprus shipping internationally, at a time when the sector is facing growing geopolitical, regulatory and competitiveness pressures.
The meeting was addressed by President Nikos Christodoulides, who referred to the strategic importance his government places on shipping, recognising both its contribution to the Cyprus economy and its role in strengthening the country’s international standing.
He said “shipping is more than an economic sector”, describing it as a bridge connecting countries and nations, while emphasising the government’s aim to strengthen European competitiveness, innovation and sustainability.
According to figures from both the Cyprus Statistical Service (Cystat) and Eurostat, the seasonally adjusted GDP growth rate in Cyprus was driven primarily by the sectors of wholesale and retail trade, information and communication, and financial and insurance activities.
This reflects the continued importance of the technology and services sectors to the country’s economic performance.
On a quarter-on-quarter basis, Cyprus’ GDP expanded by 0.2 per cent, matching the EU average growth rate, while the euro area recorded a more modest increase of 0.1 per cent.
“The preliminary estimate of a 3 per cent growth rate in the first quarter of 2026, the highest in the European Union, confirms the resilience and dynamism of the Cypriot economy,” Christodoulides said.
The president’s remarks come as official figures confirm that Cyprus significantly outperformed both the euro area and the EU average, where growth stood at 0.8 per cent and 1.0 per cent respectively on an annual basis.
The seasonally adjusted GDP growth rate in Cyprus was driven primarily by wholesale and retail trade, information and communication, and financial and insurance activities, highlighting the strength of the country’s services-led economy.
The approval allows Admie, as the project promoter, to proceed with clarifying the updated techno-economic parameters of the interconnection, including potential changes in cost and feasibility.
The same sources cited by the agency indicate that the green light was confirmed on Tuesday afternoon during a meeting involving Cyprus Energy Minister Michael Damianos, Greek Energy Minister Stavros Papastavrou, and EU Energy Commissioner Dan Jorgensen.
The meeting was also attended by Deputy Minister to the President Irene Piki, Greek Deputy Minister of Environment and Energy Nikos Tsafos, as well as representatives of Admie and the European Investment Bank.
The appointment, announced this week, follows the creation of the chair through a donation by XM Group, which will finance the position for the next decade.
The initiative is designed to strengthen research, education and innovation in artificial intelligence, while linking academic expertise with business needs and Cyprus’ wider technology ambitions.
Through the XM Chair, the University of Cyprus aims to promote AI research, develop partnerships with research centres and universities abroad, and create internship, training and specialisation opportunities for students and professionals.
The drop in profitability was primarily driven by a sharp fall in net interest income, reflecting the impact of lower interest rates and a slight contraction in interest-earning assets.
Net interest income stood at €13.8m, down 28 per cent year-on-year from €19.1m, as interest income fell significantly.
Interest income declined by 31 per cent, from €25.3m in 2024 to €17.5m in 2025, due to lower rates and a marginal reduction in average interest-earning assets.
According to an announcement released this week, the meeting is being organised within the framework of the Cypriot Presidency of the Council of the European Union.
Theofanous’ participation follows an invitation from the Finance Minister of the Republic of Cyprus and the relevant authorities.
The informal ECOFIN gathering is regarded as one of the most significant meetings for discussing economic policy issues at the European level.
According to a statement released by the CCA, the agreement, signed on May 8, reflects “the shared objective of reinforcing structured dialogue and cooperation between the public and private sectors“.
At the same time, it seeks to support a more integrated and forward-looking approach to tackling challenges and emerging regulatory and legal frameworks.
“This cooperation reflects our common goal of strengthening structured dialogue and cooperation between the public and private sectors, supporting a more coordinated and future-oriented approach to addressing evolving risks, new typologies and regulatory requirements in the field of combatting financial crime,” the association said.
The NYSE-listed company said it had entered into recapitulation agreements for the acquisition of three 82,000 dwt Kamsarmax vessels and one 182,000 dwt Capesize vessel, all scheduled for delivery in 2029.
The three Kamsarmax newbuildings are expected to be delivered in stages, with two due in the first half of 2029 and the third in the third quarter of the same year.
The Capesize vessel is scheduled for delivery in the second half of 2029.
The non-profit association said the programme, backed by contributions from more than 60 technology companies and individuals, focuses on fire prevention, ecological recovery and community support.
According to the organisation, the latest completed activity took place in Souni, where approximately 1,000,000 square metres of forest were destroyed by last summer’s fires.
Indeed, the Bank of Cyprus continued to receive strong backing from international analysts, driven by credit expansion, resilient recurring revenues, stable net interest income and what both firms described as a superior capital position.
According to a report shared by Greek business outlet Newmoney, Deutsche Bank maintained its buy recommendation and target price of €10.40 for the Bank of Cyprus.
In addition to the main award, Eurolife also received a second distinction this year for its innovative digital platform, with the Myeurolife App named Best Life Insurance App Cyprus 2026.
The company stated that “this recognition reflects Eurolife’s ongoing digital transformation, its focus on simplicity and transparency, and its commitment to delivering enhanced service to its policyholders”.
“With a modern app that provides users with immediate, easy and secure access to their policies, coverages and personal details, Eurolife demonstrates that technology can and should make insurance more accessible, faster and more human,” said Eurolife general manager Athena Shipilli Tsingi.
The company acquired the securities at a uniform price of €1.55 per share across several distinct transactions during the trading session.
These individual purchases included a primary block of 2,000 shares and another significant acquisition of 1,614 shares at the start of the list.
Additional transactions throughout the day saw the firm secure smaller quantities of 1,179 shares, 1,000 shares, and 763 shares respectively.
The programme ranks technology companies based in Cyprus and the Middle East according to their revenue growth over the past four years. It has also developed into a wider platform for recognising growth, resilience and ambition across a regional startup ecosystem that continues to mature despite global uncertainty.
This year’s edition covers companies across five categories, reflecting the breadth of the region’s technology sector.
Alongside the main Technology Fast 50 ranking, Deloitte also recognised companies in the Rising Star, Impact, Women in Leadership and Kiyadat categories.
Click here to change your cookie preferences