Shipping must be treated as one of the foundations of Europe’s resilience agenda, Safe Bulkers CEO Polys Hajioannou said during the EU Trade Policy Retreat in Geneva, held in the context of Cyprus’ Presidency of the Council of the European Union.

The retreat was organised by the Permanent Mission of the Republic of Cyprus to the United Nations (UN) and the World Trade Organisation (WTO), bringing together officials, academics and industry representatives to discuss the future of global trade, supply chains and Europe’s strategic role in an increasingly fragmented world. 

Hajioannou, who is also president of the Cyprus Union of Shipowners (CUS), took part in the second working session, which focused on resilient and open supply chains in a fragmenting world. 

The session also included Andrew Wilson, Deputy Secretary General for Policy at the International Chamber of Commerce, and Nicolas Maystre, Senior Economic Affairs Officer at UNCTAD’s Macroeconomic and Development Policies Branch.

The Bank of Cyprus (BoC) on Thursday announced that it successfully launched and priced a €300 million senior preferred notes issuance under its EMTN Programme.

According to a filing on the Cyprus Stock Exchange (CSE), the transaction was carried out by Bank of Cyprus Holdings Public Limited Company together with its subsidiary Bank of Cyprus Public Company Limited and the wider group.

The notes were priced at 99.822 per cent with a fixed coupon of 3.875 per cent per annum, payable annually in arrear until the optional redemption date of May 20, 2030.

The issuance achieved a yield of 3.924 per cent, reflecting favourable market conditions and investor appetite.

The Cyprus Stock Exchange (CSE) on Thursday released a statement recapping its 30th anniversary event, highlighting its contribution to economic development and outlining future priorities.

The exchange celebrated 30 years of operation and contribution to the economy, emphasising its role in supporting businesses and strengthening Cyprus’ capital market.

The event was attended by president Nikos Christodoulides, Finance Minister Makis Keravnos, Labour Minister Yiannis Panayiotou, the House finance committee leadership, representatives of Athens Stock Exchange and Hellenic Energy Exchange, as well as institutional and business stakeholders.

CSE president Marinos Christodoulides said the exchange’s history reflects “trials, lessons and a determined restart”, adding that it has enabled companies to raise capital, modernise and grow, while offering investors a reliable framework for participation.

Cyprus shipping remains strongly positioned for further growth, with the sector’s foundations, resilience and international role highlighted during the Cyprus Shipping Chamber’s (CSC) 37th annual general meeting in Limassol this week.

CSC president Andreas Neophytou said “the industry continues to benefit from strong foundations and significant prospects for further development, at a time when global shipping is being reshaped by geopolitical uncertainty, regulatory pressure and rising competitiveness challenges.” 

According to a statement by the chamber, Neophytou said that, from local initiatives to international representation, the chamber continues to work tirelessly to ensure that Cyprus shipping remains competitive and resilient on the global stage. 

He added that “collective action, cooperation and innovation remain central to the sector’s continued progress, allowing the Cypriot shipping industry to maintain a strong position and continue growing dynamically in a rapidly changing international environment.” 

The Cyprus Chamber of Commerce and Industry (Keve) and the Cyprus Land Development Organisation (Koag) on Thursday announced the signing of a memorandum of cooperation aimed at strengthening housing and land development policies.

According to the announcement, “the agreement marks the start of a new strategic partnership focused on housing and sustainable development, with both organisations seeking to support national policy objectives”.

It further explained that memorandum establishes a framework for cooperation between the two bodies, enabling structured collaboration on key economic and development issues.

Under the agreement, the two sides will promote the exchange of expertise and information, aiming to improve policy formulation and implementation.

Cyprus’ real estate sector saw a sharp rise in building permits issued in January of this year, reflecting a significant expansion in construction activity.

According to a report from the Cyprus Statistical Service (Cystat), a total of 789 building permits were authorised during the month.

The total value of permits reached €445.2 million, while the total covered area amounted to 346,700 square metres.

These permits provide for the construction of 1,755 dwelling units, indicating a strong pipeline of residential development.

The Cyprus Chamber of Commerce and Industry (Keve) announced this week that it will host a comprehensive webinar to provide a practical guide for businesses on the EU’s deforestation regulation.

The online event is scheduled to take place on May 27, 2026, between 15:00 and 17:00 Cyprus time.

Functioning as the coordinator of EEN Cyprus, the chamber is organising this session within the framework of the Embracing Global Markets webinar series, the announcement mentioned.

This initiative is specifically designed to support European SMEs and start-ups in their efforts regarding innovation and international expansion into diverse markets across Asia, Africa, and the Americas.

Expertise for the series is provided by various European Commission services alongside the Enterprise Europe Network, which is recognised as the largest business support network in the world.

Cyprus recorded a 1.8 per cent year-on-year increase in industrial production in March 2026, according to Eurostat, contrasting with declines across both the euro area and the European Union.

The latest figures also showed that industrial production in Cyprus rose by 1.2 per cent month-on-month in March 2026, marking a recovery from the 2.1 per cent contraction recorded in February and following a 1.5 per cent increase in January.

In annual terms, Cyprus’ 1.8 per cent expansion stood in stark contrast to the 2.1 per cent decline in the euro area and the 1.0 per cent decrease in the EU, highlighting the island’s relative resilience in the industrial sector.

The Association of Cyprus Banks (ACB) has stressed that remaining proactive constitutes the most reliable safeguard against digital crime and financial fraud, urging businesses to strengthen their cybersecurity measures.

“Prevention is always the most effective defence,” the Association of Cyprus Banks said in a statement.

The association highlighted that businesses should invest in basic cybersecurity systems, including firewalls, software updates and antivirus protection, as part of a comprehensive approach to safeguarding operations.

It also emphasised the importance of systematic staff training, particularly in recognising suspicious messages and fraudulent communications, which remain a primary entry point for attacks.

Leptos Calypso Hotels Public Limited recorded higher revenues and operating profits in 2025, with the group describing its performance for the year as particularly satisfactory, according to its annual financial report.

The group’s revenues rose by €4.7 million, while company revenues increased by €4.15 million, helping operating profit climb by 54 per cent at group level and 81 per cent at company level. 

According to the report, the improvement was mainly driven by the group’s successful commercial policy and the continued upgrade of services across its hotel units. 

At the same time, the group reduced its borrowing by €6.36m, bringing total debt down to €46.79m from €53.16m a year earlier. As a result, the ratio of borrowing to total capital employed fell from 40 per cent to 32 per cent.