AGP Executive Report
Last update: 2 hours agoExports & Food: Cyprus showcased halloumi, zivania, wines and other local products at London’s Food & Drink Festival, while Athienou bread and loukoumi are expected to gain EU protected status within a year. Market Warning: Latvian drinks maker Amber Latvijas balzams may face insolvency; sales of its Riga products have slumped in Cyprus, its main market. First-half turnover fell by a third to €24.6 million, and tax debt topped €28 million. Costs & Consumers: High energy prices continue to drive cost-of-living pressure, with critics saying the government’s €70 million relief package does too little to tackle underlying electricity costs. Growth & Investment: Cyprus’ short-term outlook is improving as retail and property activity strengthen. A separate €6 million initiative will expand access to AI and supercomputing resources on the island. Construction: The Labour Department is investigating allegations that some foreign workers face unsafe conditions and are being made to sleep on construction sites.
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