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Cyprus Seeks To Restore Tourism Confidence Amid Regional Tensions

by THEFUTURE.TEAM

March 12, 2026

Economic Resilience And Stability

Amid rising regional tensions, the Employers and Industrialists Federation (OEV) reaffirmed Cyprus’s position as a stable destination for international investment, business activity and premium tourism. During a recent executive committee meeting, the federation emphasized that maintaining stability, security and economic continuity remains a key priority for both the public and private sectors.

Combatting Misconceptions With Prudence

OEV highlighted the institutional framework that has supported the Cypriot economy through several recent challenges. According to the federation, concerns about tourism bookings are currently influenced more by external perceptions than by actual conditions within the country.

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Some sectors connected to tourism and exports, including the pharmaceutical industry, are experiencing temporary pressures. Federation representatives stated that these issues will be addressed through measured policy responses and targeted economic strategies.

Restoring Confidence And Normalcy

The federation also called for efforts to correct the perception that Cyprus is facing a broader crisis. According to OEV, restoring confidence among international partners and travelers requires clear communication about the country’s stability and operational normalcy.

OEV president George Pantelides is expected to meet with European Union officials in Brussels on March 18, 2026, including European Commission President Ursula von der Leyen and European Council President António Costa. The discussions aim to resume EU programs and meetings scheduled to take place in Cyprus that were postponed earlier following initial security concerns related to regional developments.

Industry And Government Joint Response

Recent geopolitical developments have already affected tourism activity, with a decline in reservations reported for March and April. OEV director general Michalis Antoniou described the situation as one of cautious concern, noting that the decline appears linked to international perceptions of risk. Industry representatives have proposed a targeted international marketing campaign aimed at reinforcing Cyprus’s reputation as a safe destination for business travel, tourism and leisure.

The Cyprus Chamber of Commerce and Industry (KEVE) also warned that tourism and hospitality are among the sectors most sensitive to geopolitical uncertainty. Government officials have begun coordinating responses with industry stakeholders. During a meeting at the presidential palace, President Nikos Christodoulides highlighted the importance of tourism for the Cypriot economy. The sector generated €3.69 billion in revenue last year and contributed 14% to national GDP.

Looking Ahead

Government spokesperson Konstantinos Letymbiotis noted that several developments, including the gradual restoration of airline routes, are helping restore normal travel patterns. Industry representatives continue to monitor booking trends and labor market developments as the effects of regional tensions evolve. Through coordinated action between government institutions and private sector stakeholders, Cyprus aims to maintain economic stability and reinforce its reputation as a resilient business and tourism destination.

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Eurobank Approves €258.7M Dividend And €288M Share Buyback

by THEFUTURE.TEAM

April 29, 2026

Robust Dividend And Share Repurchase Initiatives

Eurobank S.A. shareholders approved a dividend distribution of €258.7 million at the annual general meeting held on April 28. The resolution was supported by approximately 77% of paid-up capital, representing more than 2.77 billion voting shares. The dividend will be paid from special reserves and remains subject to approval by the European Central Bank.

Strategic Share Buyback And Capital Optimization

In addition, shareholders approved a share buyback programme of up to €288 million over the next 12 months, pending regulatory clearance. The programme includes the cancellation of 28,097,019 own shares, which will reduce share capital by approximately €6.18 million. Following this adjustment, total share capital is set at €792,751,032.04, divided into around 3.6 billion ordinary voting shares with a nominal value of €0.22 each.

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Enhanced Executive And Employee Incentives

Alongside capital measures, the meeting addressed remuneration. Shareholders approved an allocation of €35.2 million from special reserves for employee compensation. A five-year programme was also introduced to distribute shares to eligible executives and employees of Eurobank and affiliated entities. In parallel, a revised variable remuneration framework allows selected senior executives to receive up to 200% of fixed pay.

Governance And Audit Oversight Reforms

Changes were also made at the board level. Alexandra Reich was appointed as an independent non-executive director, replacing Jawaid Mirza. Following this appointment, eight of the thirteen board members are classified as independent. Amendments to the articles of association introduce flexibility in board terms and allow partial renewals.

Strengthening Audit And Sustainability Commitments

On the audit side, KPMG Certified Auditors S.A. was appointed as the statutory auditor for 2026. The fee is set at €1.8 million for statutory audits of separate and consolidated financial statements, with an additional €0.3 million allocated for assurance of the sustainability statement. The meeting also approved the 2025 remuneration report and confirmed committee fee arrangements, alongside updates on audit committee activity and independent director reporting.