AGP Executive Report
Last update: an hour agoEnergy and Inflation: Cyprus’ national inflation reached 4.4% in October, with petroleum prices up 30.6% year on year and electricity and water up 13.6%. The finance minister will seek to extend fuel tax cuts, while President Nikos Christodoulides says the Cronos gas field could begin production in 2028, with development contracts unlocking billions of euros in investment. Banking: Bank of Cyprus posted €383 million in nine-month profit, up 9%, and raised its 2026 profitability target after lending and deposits grew. Tourism: UK tour operators are signalling increased capacity to Cyprus in 2027, while British visitors helped keep arrivals resilient this year. Investment and Startups: Cyprus is pursuing deeper Silicon Valley links, and ten startups will present their businesses at Plug and Play Cyprus’ first acceleration programme expo in Limassol. Retail: Jumbo’s Cyprus sales rose 15% in October and 8% over the first ten months, as the group absorbed higher costs rather than passing them on to customers.
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