AGP Executive Report
Last update: 11 hours agoStart-up Funding: Cyprus startups raised €112.8m across 28 rounds in 2026, nearing last year’s €120m total with three months to go. AI firm Omilia led with €57.8m. Banking: Traditional lenders retain an edge in mortgages and business finance, but summit speakers urged faster regulation and more talent. Bank of Cyprus’ cdbBank deal is nearing completion after a staff exit scheme. Trade: The goods deficit widened €820m to €6.3bn in January-August as imports rose 10.9%, outpacing 5% export growth. Economy: The CBC sees growth around 3%, but September inflation reached 5.2%, above the euro-area rate. The Fiscal Council flagged pension and public-project delivery risks. Shipping: Deputy Shipping Minister Marina Hadjimanolis heads to Japan, China and South Korea to promote Cyprus’ flag and attract business, as industry warns of mounting security and compliance demands. Energy: Cyprus and Saudi Arabia agreed to cooperation spanning renewables, gas, electricity and hydrogen. Audit Scrutiny: BBC reporting alleges Deloitte Cyprus helped falsify or backdate records to conceal Roman Abramovich’s wealth and evade tax.
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