Cyprus Business Now: economic sentiment, property, maritime, cybersecurity

Cyprus’ economic climate improved marginally in June 2026, with the Economic Sentiment Indicator rising by 0.2 points compared with May, according to the latest monthly business and consumer survey published by the Economics Research Centre of the University of Cyprus (CypERC). The modest increase was driven primarily by stronger sentiment in retail trade and construction, as well as a further improvement in consumer confidence, developments that offset a deterioration in business confidence within the services sector. According to the survey, businesses in both retail trade and construction assessed their current situation more positively than in the previous month and expressed greater optimism about their activity over the next three months. By contrast, sentiment in the services sector weakened, reflecting less favourable assessments of businesses’ recent economic performance and lower expectations regarding turnover in the months ahead. The report also showed that the business climate in the manufacturing sector remained broadly unchanged compared with May. Europe’s property markets are entering the second half of 2026 with a clearer message for investors, the easy “cheap versus expensive” comparison is no longer enough. The newest figures already show why. In Cyprus, property sales rose 11.9 per cent in the first five months of 2026, with 8,043 sales documents filed between January and May, compared with 7,185 in the same period last year. Limassol remained the largest district by volume, recording 2,537 sales contracts, up 11.2 per cent year on year. In Greece, the latest bank figures, published on June 9, showed apartment prices still rising, although at a slower pace. Prices increased 5.7 per cent year on year in the first quarter of 2026, with Athens up 5.2 per cent, Thessaloniki up 6.4 per cent, other cities up 5.4 per cent and other areas of Greece up 6.9 per cent. Across Europe, meanwhile, investment is recovering, but selectively. CBRE said European real estate investment reached €52.6 billion in the first quarter of 2026, up 3 per cent year on year, while volumes on a trailing 12-month basis were 13 per cent higher. The Cyprus Securities and Exchange Commission (CySEC) announced on Tuesday that it had suspended the licence of Cyprus Investment Firm (CIF) Mind Money Limited over suspected breaches of regulatory requirements and concerns regarding client protection and market integrity. The regulator said the company’s authorisation, licence number 115/10, has been fully suspended under section 10(1) of Directive DI87-05 concerning the withdrawal and suspension of authorisations. According to CySEC, the decision relates to suspicions of alleged violations of section 22(1) of the Investment Services and Activities and Regulated Markets Law of 2017. Cyprus-based maritime services firm Tototheo Global, The Heritage Private School and the Cyprus University of Technology (Tepak) have signed a memorandum of understanding to launch a new educational pilot programme in Cyprus centred on robotics, satellite connectivity, renewable energy and applied science. According to an announcement released on Wednesday, the initiative aims to provide students with hands-on exposure to real-world technologies, bringing together education, research and practical technological applications at a time when industries are becoming increasingly data-driven and technology-enabled. Under the agreement, students will engage directly with automation systems, connected technologies and scientific experimentation, allowing them to develop skills in coding, data analysis and applied science through practical learning experiences. Shipping leaders used the International Chamber of Shipping’s (ICS) Rome summit this week to call for stronger cooperation across the maritime sector, with WISTA International president Elpi Petraki saying the industry’s challenges cannot be addressed in isolation. In a post on her personal platform after attending the Shaping the Future of Shipping Summit in Rome this week, Petraki said the discussions had reinforced a point she strongly believes in. “The challenges facing our industry cannot be addressed by any one organisation acting alone,” she said. The summit, held under the title ‘Shaping the Future of Shipping Summit 2026 – Forging Partnerships for Resilience’, brought together senior figures from shipping, government and international organisations, at a time when global trade is being tested by geopolitical tension, regulatory pressure, cybersecurity risks and the energy transition. Scope Ratings has reaffirmed Alpha Bank’s BBB issuer rating with a stable outlook, citing the bank’s strong market position, improving profitability and robust capital buffers. In its latest update, the details of which shared by Greek business outlet Newmoney, the rating agency said it expects Alpha Bank to maintain a strong performance trajectory through 2028, while also further strengthening its credit profile. According to the agency, the assessment is supported by Alpha Bank’s strong position in the market, improved profitability and comfortable capital reserves. Scope also highlighted the strategic importance of the bank’s recent acquisitions of Alpha Trust, Flexfin, AXIA and AstroBank, saying these transactions are expected to strengthen Alpha Bank’s presence in wealth management, investment banking and the Cyprus market. The Cyprus Chamber of Commerce and Industry (Keve) has informed businesses about a new survey launched by the Digital Security Authority (DSA) to identify the needs of startups operating in the cybersecurity sector, as part of preparations for a forthcoming grant scheme. The survey is being conducted by the Digital Security Authority, which also serves as Cyprus’ National Cybersecurity Coordination Centre (NCC-CY). According to the chamber, the initiative aims to record and assess the requirements of startups active in the field of cybersecurity, with the findings expected to help shape future support measures for the sector. The survey forms part of preparations for a grant scheme designed to support startup companies, which will be implemented through the European N4CY2 project. Cyprus’ trade office in the Gulf has moved to place the island’s exporters within a wider European conversation on food security, resilient supply chains and predictable access to one of the region’s most closely watched markets. Despo Chrysostomou, representing the Cyprus Trade Centre in the GCC Region, took part in the EU–Qatar Dialogue on Safe and Resilient Food Trade in Doha this week, joining representatives from the European Union, Qatari authorities, the private sector and industry experts. The dialogue focused on food security, food-safety systems, resilient supply chains and international trade, while also looking at how European food and agricultural exports can secure stable market access through transparent import procedures and internationally recognised sanitary and phytosanitary standards, according to Qatar News Agency. For Cyprus, the event was not simply another diplomatic engagement. The Cyprus Trade Centre in Dubai, which operates under the Ministry of Energy, Commerce and Industry and the Embassy of Cyprus in the UAE, covers the UAE, Kuwait, Qatar, Saudi Arabia, Oman and Bahrain. Nearly 100 experts from across Europe gathered in Limassol between June 22-24, 2026 for the 2nd Technical Workshop on Digital Anti-Fraud Tools, where the European Anti-Fraud Office (OLAF) and Cyprus’ Anti-Fraud Coordination Service (AFCOS Cyprus) promoted the use of digital technologies and innovative methods to strengthen the protection of European Union funds. According to a statement issued by the Treasury of the Republic, the workshop was held under the auspices of the Cypriot Presidency of the Council of the European Union and with the support of the Treasury. The event brought together almost 100 experts from EU member states, the European Public Prosecutor’s Office (EPPO), Europol, Eurojust, the European Court of Auditors and OLAF. Participants presented the first results of the Digital Anti-Fraud Toolbox initiative, which was launched in May 2025 with the aim of developing practical tools and methodologies to facilitate the early detection of fraud cases, improve the effectiveness of investigations and better protect the European Union’s financial interests. The Central Bank of Cyprus (CBC) on Wednesday introduced a new section on its website titled ‘Statistics Explained’, aimed at strengthening statistical literacy among the public. The initiative presents key statistical terms linked to financial statistics, monetary statistics and external economic relations in clear and accessible language designed to improve understanding of data. It draws on material developed by the European Central Bank (ECB) and hosted on the ECB Data Portal under Statistics Explained, which has been translated and adapted into Greek by the central bank. According to the institution, the section seeks to make statistical information more accessible and easier to interpret, thereby contributing to stronger public awareness and engagement with economic data.