Opens in a new tab

Breaking news

Cyprus Business And Tech Groups Strengthen Cooperation To Boost AI Adoption

Cyprus’ technology and business communities are moving to tighten their collaboration as the country accelerates its digital transformation agenda and prepares for broader artificial intelligence adoption.

Focus On AI Strategy And Business Readiness

That was the central message from discussions between the Cyprus Information Technology Enterprises Association (CITEA) and the Employers and Industrialists Federation (Oev), which examined Cyprus’ digital future, the government’s National Artificial Intelligence Strategy, and the practical challenges businesses face as they adopt emerging technologies.

The two organisations discussed the need to speed up AI uptake across the economy, while also identifying the role industry groups can play in helping companies use these tools more widely and effectively.

Citea Sets Out Recommendations

During the meeting, CITEA outlined its main positions and recommendations on the National AI Strategy. The association said it would share its proposals with Oev in greater detail for further review and discussion.

CITEA president George Malekkos highlighted the long-standing cooperation between the two organisations and voiced support for expanding it through joint initiatives and reciprocal backing.

The objective, he said, is to help accelerate digital transformation and AI adoption across the Cypriot economy.

Shared Commitment To Cyprus’ Digital Development

Also attending the meeting were Oev president George Pantelides, director general Michalis Antoniou, and CITEA vice-president Antonia Michael.

CITEA and Oev said they will continue working together to strengthen ties between the technology and business sectors and support Cyprus’ broader digital development.

Cyprus Business Electricity Prices Rank Among The EU’s Highest

Electricity prices for a defined group of non-household consumers in Cyprus reached €0.23 per kilowatt-hour in the first half of 2026, placing the country among the most expensive in the EU, according to Eurostat.

The rate matched Italy and exceeded the EU average of €0.18. Ireland recorded the highest price at €0.27 per kilowatt-hour.

The figures cover non-household consumers with annual electricity consumption of between 500 and 2,000 megawatt-hours, rather than all businesses or households.

EU Electricity Prices Continued To Fall

Across the EU, average prices for this consumer group declined by 2% compared with the second half of 2025 and were 5.4% lower year on year.

The lowest rates were recorded in Finland (€0.09 per kWh) and Sweden (€0.12), followed by Denmark, Spain and Portugal, all at €0.13.

Prices Fell In Most Member States

Electricity prices declined year on year in 19 EU countries during the first half of 2026. Luxembourg recorded the largest fall, at 23.8%, followed by Czechia (11.9%) and Greece (11.8%).

Prices increased in eight member states, led by Sweden (18.8%), Finland (18.7%) and Bulgaria (14.2%). Despite the sharp increases, Finland and Sweden continued to have the lowest electricity prices in the bloc.

eCredo
Aretilaw firm
Uol
The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter