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.

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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.

Cyprus recorded the European Union’s largest quarterly decline in government debt as a share of GDP in the second quarter of 2026, as its debt burden continued to fall while borrowing levels across the bloc increased, according to Eurostat.

Debt Ratio Falls To 48.5%

Cyprus’ government debt fell to 48.5% of GDP at the end of June, down from 51.5% in the first quarter and 58.1% a year earlier.

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In absolute terms, debt declined to €19.2 billion from €20.03 billion at the end of March and €21.7 billion in June 2025. Cyprus also recorded the EU’s second-largest annual reduction in its debt-to-GDP ratio, after Greece.

Cyprus Outpaces Other EU Member States

Greece recorded the largest annual decline, at 11.2 percentage points, followed by Cyprus at 9.5 points, Slovenia at 4.5 points and Portugal at 3.4 points.

Quarterly, Cyprus led the bloc, ahead of Greece, where the ratio fell by 2.7 percentage points, and Hungary, which recorded a 2-point decline.

By contrast, the EU’s debt-to-GDP ratio increased to 82.9% in the second quarter from 82.5% in the first. The euro area ratio rose to 88.8% from 88.4%. Compared with the same period in 2025, the figures increased from 81.4% and 87.3%, respectively.

Debt Levels Remain High Across Europe

Greece had the EU’s highest debt ratio at the end of June, at 140.8% of GDP, followed by Italy at 139.9%, France at 119.1%, Belgium at 110.2% and Spain at 101.4%.

The lowest ratios were recorded in Estonia at 26.1%, Denmark at 27.1%, Luxembourg at 28.2% and Bulgaria at 28.7%.

Compared with the first quarter, debt ratios rose in 15 member states and fell in 10, while the Netherlands and Spain remained unchanged. Poland recorded the largest quarterly increase, at 3 percentage points.

Cyprus Maintains A Government Surplus

Cyprus’ debt reduction comes alongside a strong fiscal position. In 2025, the country recorded a government surplus of 3.6% of GDP, the highest in the EU, according to audited figures published by Cystat and Eurostat. Government debt at the end of that year stood at €20.05 billion, or 52.3% of GDP.

However, Cyprus’ seasonally adjusted government surplus narrowed to 3.3% of GDP in the second quarter of 2026, from 3.8% in the first quarter.

The figures come from Eurostat’s latest government deficit and debt release, based on member states’ second 2026 notifications under the EU’s Excessive Deficit Procedure and compiled under the European System of Accounts 2010 methodology.

Cyprus recorded the European Union’s highest government budget surplus in 2025, at 3.6% of gross domestic product (GDP), according to figures released by the Cyprus Statistical Service (Cystat) and Eurostat.

The surplus amounted to €1.36 billion, based on audited data compiled under the European Commission’s Excessive Deficit Procedure. Government debt stood at €20.05 billion, equivalent to 52.3% of GDP.

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Cyprus Among Five EU Countries With Budget Surpluses

Cyprus was one of only five EU member states to record a budget surplus in 2025. Denmark followed with 2.9% of GDP, ahead of Greece at 2%, Ireland at 1.8% and Portugal at 0.7%.

All other member states recorded deficits. Romania had the largest, at 7.8% of GDP, followed by Poland at 7.2%, Belgium at 5.2% and France at 5.1%. Eleven countries reported deficits of at least 3% of GDP, the EU’s reference threshold.

Government Revenue Rises 7.7%

Cyprus’ government revenue increased by 7.7% in 2025, rising by €1.14 billion to €15.9 billion from €14.76 billion a year earlier, Cystat reported.

Social contributions rose by €379.8 million, or 8.4%, to €4.9 billion, while taxes on income and wealth increased by €379.1 million, or 10%, to €4.18 billion. Taxes on production and imports grew by 1.4% to €4.75 billion.

Revenue from the sale of goods and services climbed 18.1% to €1.06 billion, while other current transfers increased by 21.4% to €480.1 million. Capital transfers and property income also rose.

Net value added tax was the main exception, declining by €16 million, or 0.5%, to €3.15 billion.

Capital Spending Drives Higher Expenditure

Government expenditure rose by 9.2% in 2025, increasing by €1.22 billion to €14.54 billion from €13.31 billion in 2024.

Compensation of employees, including imputed social contributions and civil servants’ pensions, grew by 7.6% to €4.17 billion. Social transfers increased by 5.3% to €5.59 billion, while intermediate consumption reached €1.59 billion.

Capital expenditure recorded the sharpest increase, surging by 46.4% to €1.76 billion from €1.2 billion in 2024. The rise reflected higher gross capital formation and other capital expenditure.

Meanwhile, subsidies fell by 18.6% to €139.6 million, while property income payable edged down.

Cyprus Outperforms EU And Euro Area Averages

Across the EU, government expenditure amounted to 49.4% of GDP in 2025, compared with revenue of 46.3%. In the euro area, expenditure reached 49.8% of GDP and revenue 46.8%.

Cyprus’ surplus reflects revenue growth outpacing expenditure, despite higher public investment. The country’s fiscal performance stood out against a wider EU picture in which most member states continued to run budget deficits.

The Cypriot economy expanded by 3.3% in the second quarter of 2026 compared with the same period in 2025, according to the Statistical Service of Cyprus.

Growth Measured In Real Terms

The increase in gross domestic product was recorded in real terms and based on seasonally adjusted data, offering a clearer view of underlying economic momentum.

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Which Sectors Led The Expansion

According to the production approach used to calculate GDP, the growth was mainly supported by four sectors: wholesale and retail trade and the repair of motor vehicles, information and communications, financial and insurance activities, and construction.

The figures suggest that Cyprus continues to benefit from a broad-based economic mix, with domestic demand and business activity helping sustain output across several key industries.

The European Commission has opened an in-depth investigation into whether Booking.com complied with the EU’s Digital Services Act (DSA), focusing on fraudulent property listings, phishing scams and the transparency of paid search results.

Regulators will assess whether the platform adequately identified and mitigated consumer risks, including financial losses caused by fake accommodation offers and deceptive messages.

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Fake Listings And Consumer Protection

As part of the investigation, the Commission will examine whether Booking.com took sufficient steps to address listings for non-existent properties, impersonation fraud and accommodation offers that may not meet applicable requirements. It will also assess the platform’s safeguards for removing fraudulent or non-compliant listings.

Phishing Risks And Guest Data

Another area of scrutiny concerns the risks associated with sharing reservation and guest data with accommodation providers, as well as the design of Booking.com’s messaging tools.

Weak safeguards could allow scammers to exploit these channels to obtain personal information or trick customers into making fraudulent payments.

Paid Search Results Under Scrutiny

A further focus is whether Booking.com clearly identifies paid-for search results. Accommodation providers can pay higher commissions to improve their rankings, but EU rules require users to recognise advertisements and understand who paid for them, why they are being shown and how advertising preferences can be adjusted.

Potential DSA Violations

If confirmed, the suspected failures could breach Articles 34 and 35 of the DSA, which require very large online platforms to assess and mitigate systemic risks. The investigation may also concern Article 26(1), which sets out transparency requirements for online advertising.

According to the Commission, the investigation will be treated as a priority. Possible next steps include requests for further information, interviews and inspections. The Commission may also impose interim measures, issue a non-compliance decision or accept commitments from Booking.com.

Opening proceedings does not prejudge the outcome. However, during the investigation, the Commission will directly supervise the suspected advertising-transparency issue under Article 26(1), rather than leaving it to national authorities.

Wider Implications For Online Marketplaces

The investigation follows the Commission’s review of Booking.com’s risk assessment and transparency reports, alongside its responses to formal information requests issued on September 23, 2025, and May 26, 2026. The Commission is working with the Dutch Authority for Consumers and Markets, the country’s Digital Services Coordinator.

Booking.com was designated a Very Large Online Platform under EU law on April 25, 2023. The case will test whether the company’s safeguards for consumer protection, security and advertising transparency meet the requirements imposed on major online platforms.

US President Donald Trump has proposed that companies building data centres pay a “dividend” to the communities hosting them, arguing that direct financial benefits could help overcome growing opposition to AI infrastructure projects.

Local concerns include high electricity and water consumption, environmental impact and rising utility bills as investment in data centres accelerates.

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Trump Calls For Local Benefits

Trump said projects facing public opposition could become “extremely popular” if developers addressed community concerns. He has also called on data centres to generate their own electricity and supply excess power to local communities or the grid to help reduce energy costs.

Opposition Grows Despite Record Investment

At least 47 large-scale data centre projects were delayed in 2026, while more than 1,000 US communities proposed or sought moratoria, zoning restrictions or tighter environmental rules, according to Investing Live. Nevertheless, US AI infrastructure spending is projected to exceed $10 trillion between 2025 and 2032.

Community Agreements Shape Development

In Texas, Meta’s planned data centre campus in El Paso grew from a $1.5 billion investment announced in 2023 into a $14 billion project, prompting public opposition. Governor Greg Abbott negotiated proposed safeguards requiring Meta to cover electrical infrastructure costs and reuse its water. Critics, including Democratic gubernatorial nominee Gina Hinojosa, argued that the agreement lacked binding conditions. More information is available from Meta.

In September, Lancaster City Council in Pennsylvania signed what it described as the first fully executed Community Benefits Agreement (CBA) for a US data centre project. The agreement for the $6 billion to $10 billion Lancaster AI Hub includes funds for economic development, clean energy and planning, as well as credit protection for the city.

Digital Realty has taken another approach in De Soto, Kansas, offering residents $1,000 in annual utility and property tax credits for 10 years as part of a proposed $20 million investment in a new data centre campus. The company says the project will create jobs and generate tax revenue. More information is available from Digital Realty.

Europe Explores Community Benefits

The approach is also gaining ground in Europe. OpenAI has said future data centres could include financial contributions to communities in Ireland, where data centres must also meet requirements related to supplying electricity to the grid. More information is available from OpenAI.

In Germany, developers are subject to requirements linked to energy use. In Dietzenbach, where Google is developing a multi-billion-euro campus, infrastructure agreements require excess heat from data centres to be fed back into the grid, helping reduce energy costs for residents. More information is available from Google.

As AI infrastructure expands, community payments, lower utility costs and environmental safeguards are becoming increasingly important to securing public support for new data centres.

Capital Maritime Finance has raised €300 million through its stock market debut in Athens, marking Greece’s largest maritime equity offering and the first primary listing of a shipping company exclusively on Euronext Athens.

Strong Investor Demand For Shipping Shares

The initial public offering attracted strong interest from Greek and international investors, with demand exceeding the shares available by 4.34 times, according to Euronext. Shares were priced at €7.50 each, giving the container shipping company a market capitalisation of €1.05 billion on its first day of trading under the ticker CMFC.

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The response highlights investor interest in shipping companies with modern fleets, predictable earnings and long-term charter agreements, which can provide greater revenue visibility in a cyclical industry.

Fleet Expansion Supports Growth Strategy

Capital Maritime Finance currently operates 13 vessels with a combined capacity of 27,891 twenty-foot equivalent units (TEU). A further 23 container ships are under construction and will add 120,874 TEU to its fleet.

Once all vessels have been delivered, the company will operate 36 fully owned container ships, all covered by long-term charter agreements extending to 2038. These contracts provide greater visibility over future revenue, helping mitigate some of the uncertainty associated with fluctuations in vessel values and freight rates.

IPO Increases Share Capital

The offering included the issuance of 40 million new shares, bringing the company’s total share capital to 140 million shares. All shares have been admitted to trading on Euronext Athens.

A Milestone For Greece’s Maritime Market

Capital Maritime Finance chairman Gerasimos Kalogiratos described the strong investor response as “a vote of confidence” in the company’s business model, modern fleet and expansion strategy. He added that the listing “strengthens Greece’s position as a global maritime hub.”

The transaction marks the third shipping company listing on Euronext Athens in 2026 and the 70th listing across Euronext’s markets this year. It also highlights the role of equity markets in financing capital-intensive industries such as shipping.

The Cyprus Stock Exchange (CSE) has approved the listing of €50 million in 13-week government treasury bills following an auction held on October 19. Trading is scheduled to begin on October 23.

Details Of The New Issue

The issue comprises 50,000 treasury bills with a nominal value of €1,000 each. It is the 10th issue in the 2026 series and was issued by the Republic of Cyprus following the auction.

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Listing And Settlement

The CSE approved the listing under Article 58(1) of the Cyprus Securities and Stock Exchange Law. It also authorised the securities’ registration with the Central Depository and Central Registry, in accordance with the legislation governing the exchange’s depository and registry functions.

Trading Terms

The treasury bills will not bear interest. They will trade under code TB13J26 and have the International Securities Identification Number (ISIN) CY0241530811.

Trading will take place on the bond market of the CSE’s regulated market. Both the issue date and the first trading date are set for October 23.

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.

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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.

Eurobank is considering opening a representative office in Tel Aviv to strengthen its support for Israeli businesses and investors seeking opportunities in European markets, as Cyprus continues to develop its role as a regional business and investment hub.

The possibility was raised at the 8th Cyprus-Israel Business & Investment Summit, held in Tel Aviv this week with Eurobank’s participation and support. The event brought together entrepreneurs, investors and institutional representatives from both countries to discuss cooperation across trade, investment, energy, tourism, services, technology and innovation.

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Strengthening Cyprus-Israel Economic Ties

Eurobank Deputy CEO Andreas Petsas attended the summit, while Senior General Manager Stefanos Kassianides addressed participants on the strategic importance of closer economic ties between Cyprus and Israel.

Kassianides said the countries could use their complementary strengths to serve as a bridge between Europe and the wider region. He also highlighted opportunities for businesses, investors and financial institutions arising from stronger regional connectivity and initiatives such as the India-Middle East-Europe Economic Corridor (IMEC).

“The business relationship between Cyprus and Israel has strengthened significantly in recent years, based not only on the geographical proximity of the two countries but also on the strong economic, commercial and institutional ties that connect them,” Kassianides said.

He added that “the complementary strengths of the two economies create strong prospects for even closer cooperation between their business communities, while Cyprus serves as a natural gateway to the European Union and the wider region.”

Eurobank Explores Expansion In Israel

Against this backdrop, Kassianides outlined Eurobank Group’s international presence and expansion strategy, confirming that the bank is exploring the possibility of establishing a representative office in Tel Aviv.

The office could strengthen Eurobank’s ability to support Israeli companies and investors pursuing international growth, particularly their expansion into European markets.

Cyprus Highlights Its Financial Services Sector

Cyprus’ banking and investment sector was another focus of the summit. Panayiotis Chrysostomou, Eurobank’s manager of banking services and representative offices, took part in a panel discussion on the country’s financial services landscape.

Chrysostomou highlighted Cyprus’ advantages and the role of its financial institutions in supporting Israeli businesses and investors entering European markets.

“The role played by Cyprus’ financial institutions and banks, as stable and financially sound partners of Israeli businesses and investors, is of central importance to successfully capitalising on the prospects arising from their expansion into the European Union market, as well as the opportunities within the broader economic corridor connecting Asia and the Middle East with Europe, through Israel, Cyprus and Greece,” he said.

Supporting Diplomatic And Business Relations

Eurobank also supported a reception hosted by Cyprus’ ambassador to Israel, Cornelius Corneliou, marking the 66th anniversary of the independence of the Republic of Cyprus.

The bank said its participation reflected its continued commitment to strengthening ties between the Cypriot business community and international investment institutions.