Paralimni-Deryneia Strengthens Global Tourism Ties With Serbian Delegation

by THEFUTURE.TEAM

April 23, 2026

Paralimni-Deryneia Mayor Giorgos Nikolettos has set the stage for an ambitious push to enhance tourism promotion abroad through a strategic meeting with Serbian travel professionals. This initiative is part of a broader effort to harness the region’s unique assets and modern attractions.

Enhancing Destination Appeal

During the session, discussions centered on ways to effectively introduce Paralimni-Deryneia and its popular Protaras resort to the Serbian market. Nikolettos provided an in-depth briefing on the municipality, highlighting its distinctive characteristics, competitive advantages, and the array of modern amenities that position it as a prime tourist destination.

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Forging Strategic Partnerships

The meeting also featured key industry voices, including Haris Papacharalambous, President of the Cyprus Travel Agents Association (ACTA), and Giorgos Kafkalias, Director of the Famagusta Regional Tourism Board (ETAP). Their presence underscored a mutual commitment to boosting travel between Cyprus and Serbia, reinforcing trust and collaborative spirit among tourism stakeholders.

Charting A Course For Future Growth

This proactive dialogue is expected to catalyze reshaping Paralimni-Deryneia’s international tourism strategy. By leveraging its local strengths and forging robust partnerships, the municipality is poised to secure a substantial competitive edge in the global travel arena, promising long-term economic and cultural benefits for the region.

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Robust Cyprus Construction Activity Bolsters Vassilico Cement’s 2025 Performance

by THEFUTURE.TEAM

April 24, 2026

Vassilico Cement Works Public Company Ltd reported a net profit of €35.52 million for 2025, supported by strong construction activity in Cyprus. Company profit reached €34.99 million, reflecting higher revenues and improved operating performance.

Domestic Market Growth Driven By Cyprus Construction

Group revenue rose to €152.75 million, while company revenue reached €152.66 million, up 11% year on year. Growth was driven by increased sales volumes in the domestic market, where construction activity remained strong throughout the year.

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Enhanced Production Efficiency And Cost Management

Gross profit increased to €50.30 million at group level and €50.21 million at company level, compared with €42.49 million in 2024. The improvement reflects gains in production efficiency and cost control, supported by higher use of alternative fuels and improved electricity efficiency. These measures reduced unit costs while supporting environmental targets.

Executive Insights And Macroeconomic Outlook

Executive Chairman Antonis Antoniou said strong domestic demand supported production volumes, with the company maintaining focus on the local market and managing exports selectively. He added that favorable economic conditions in Cyprus contributed to performance, despite regulatory pressures in Europe and broader geopolitical uncertainty.

Navigating Energy And Regulatory Challenges

Future performance will be influenced by energy market volatility and European climate policy, including carbon pricing and the Carbon Border Adjustment Mechanism. Rising fuel and electricity costs continue to affect energy-intensive industries.

The company is expanding its renewable energy capacity, with a photovoltaic park reaching 16MW and plans for an additional 8MW, subject to grid connection. The investments aim to improve cost stability and energy efficiency.

Shareholder Returns And Strategic Investments

The board approved an interim dividend of €0.15 per share, totaling €10.79 million, on September 25, 2025. A final dividend of €16.55 million, or €0.23 per share, will be proposed. Combined, total dividends amount to €27.34 million, or €0.38 per share.

Management said the company will continue focusing on efficiency, cost control and sustainability as it navigates energy market pressures and regulatory requirements.

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