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CITEA And Cyprus Regulator Discuss Cybersecurity And AI Cooperation

Cyprus’ technology industry is calling for closer cooperation with regulators on cybersecurity and artificial intelligence. The proposals were discussed at a meeting between the Cyprus Information Technology Enterprises Association (CITEA) and Electronic Communications Commissioner Marios Pieris.

The meeting, attended by Assistant Commissioner Georgios Georgiou, focused on joint initiatives to strengthen Cyprus’ digital resilience and help businesses respond to evolving cybersecurity risks and regulatory requirements.

CITEA was represented by president George Malekkos, vice-president Antonia Michael, board member Nikos Kaisis and director Matina Zisiadou.

Cybersecurity And AI Top The Agenda

Discussions focused on practical cooperation in cybersecurity and artificial intelligence, as well as the relationship between Cyprus’ regulatory framework and the businesses driving digital growth.

CITEA also presented proposals concerning the European Cybersecurity Act, highlighting the need to represent the priorities and concerns of technology companies in wider European policy discussions.

Another key topic was specialised training for CITEA members to help businesses strengthen their expertise in cybersecurity, AI and emerging regulatory requirements.

Exploring Joint Initiatives

The meeting also addressed potential initiatives involving regulators, experts and technology companies. These could provide a structured way to exchange knowledge, identify common challenges and develop responses to issues affecting Cyprus’ digital economy.

Closer coordination could help align regulation with technological developments while giving businesses an opportunity to contribute to discussions shaping the sector.

CITEA Calls For Practical Action

Commenting after the meeting, Malekkos stressed the need for urgent and meaningful cooperation to address the challenges posed by cybersecurity threats and artificial intelligence.

“In today’s digital age, the role of the Commissioner of Electronic Communications and the Authority is more critical than ever. The challenges posed by cybersecurity and artificial intelligence require meaningful cooperation and immediate, practical action,” he said.

Malekkos welcomed Pieris’ response to the association’s proposals, describing the discussion as constructive and focused on practical steps.

“What particularly impressed me about today’s meeting was the new Commissioner’s pragmatic approach and positive response to our proposals. We discussed specific ideas, exchanged views, and established that there is a genuine willingness to move forward together,” he said.

He added that CITEA was ready to deepen its engagement through joint workshops, training and knowledge-sharing initiatives designed to deliver tangible benefits for businesses and the Cypriot economy.

Strengthening Public-Private Cooperation

CITEA said it would continue working with institutional stakeholders and relevant authorities on cybersecurity, artificial intelligence and Cyprus’ digital transformation.

The meeting reflects efforts to strengthen coordination between regulators and industry as cyber risks evolve and AI becomes more widely integrated into business operations.

Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

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