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CHAK Privatization Advances Under Revised Cyprus Investment Rules

by THEFUTURE.TEAM

February 23, 2026

Overview Of New Legislation

The Cyprus Parliament unanimously approved legislation that opens the way for the privatization of CHAK. Under the new framework, investor selection will no longer rely solely on the highest financial offer. Evaluation criteria now include qualitative factors, such as the investor’s business plan and its potential contribution to developing the stock market.

Emphasizing Strategic Investment Over Price

Christiana Erotokritou, President of the Parliamentary Economic Committee and member of DIKO, said the reform is important for both Cyprus’ economy and the future of CHAK. She noted that the exchange has not reached its full potential and stressed that the goal is to attract a strategic investor from a regulated market rather than simply sell a state asset. She also welcomed the Ministry of Finance’s decision to incorporate proposals submitted by DIKO during the legislative process.

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Ensuring Sustainable Market Growth

Haris Georgiadis, a DISY parliamentarian, added that the inclusion of qualitative parameters in the evaluation process is designed to secure the sustainable and positive growth of CHAK. This strategic outlook reflects a broader commitment to strengthening the competitiveness and credibility of Cyprus’ financial sector.

Institutional Reforms And Employee Protections

According to the Ministry of Finance, the legislation forms part of a broader capital market modernization plan. The law provides a framework for the gradual transfer of responsibilities related to the Central Securities Depository and the Central Register of Securities to a strategic investor, while maintaining operational continuity and safeguarding public interest.

Protection Of Employee Rights

Another critical aspect of the legislation is its provision for defending the labor rights of CHAK’s workforce. The bill ensures a smooth transfer of employees to the Ministry of Finance, or alternatively, facilitates compensation based on a defined early voluntary retirement plan, which further underscores the commitment to social responsibility during this transition.

Looking Ahead

The Ministry of Finance has expressed its gratitude towards Parliament members and, in particular, the Parliamentary Committee on Economic and Budgetary Affairs, for their collaboration in finalizing this important reform. The commitment to effectively implement the law underscores the government’s dedication to fostering an environment that supports long-term economic growth and stability in Cyprus.

The Future Forbes Realty Global Properties

EU Services Production Grows As Information And Communication Lead

by THEFUTURE.TEAM

November 10, 2026

Services production continued to expand across the European Union in August 2026, with information and communication recording the strongest annual growth. However, performance varied significantly between industries and member states, while Cyprus reported a mixed picture, with business services expanding and hospitality-related activities declining.

Information And Communication Leads Sector Growth

Compared with August 2025, services production increased by 5.9% in the euro area and 5.8% across the EU in information and communication. Transportation and storage also recorded growth, rising by 2.1% and 1.9%, respectively.

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Real estate activities increased by 1.6% in the euro area and 1.1% in the EU. Professional, scientific and technical activities grew by 1% in both areas, while administrative and support services advanced by 1.1% and 1.3%.

Accommodation and food services was the only major sector to record an annual decline, falling by 0.1% in both the euro area and the EU.

The monthly figures were more mixed. Information and communication remained the strongest performer, increasing by 1.2% in the euro area and 1% across the EU. Real estate activities rose by 0.4% and 0.9%, respectively, while transportation and storage edged up 0.1% in the euro area but declined by 0.2% in the EU.

Administrative and support services recorded modest gains of 0.2% in the euro area and 0.1% in the EU. Accommodation and food services fell by 0.3% and 0.4%, while professional, scientific and technical activities declined by 0.8% and 0.9%, respectively.

Slovakia And Greece Record Strongest Annual Growth

Romania recorded the largest monthly increase in services production, at 5.2%, followed by Malta at 1.8% and Portugal at 1.7%. Luxembourg experienced the steepest decline, with output falling by 5.1%, followed by Bulgaria at 2.3% and Denmark at 1.9%.

On an annual basis, Slovakia led with growth of 10%, followed by Greece at 9.3% and Malta at 7.5%. Hungary recorded the weakest performance, with services production declining by 5.6%. Denmark fell by 5.3%, while Italy recorded a smaller decrease of 0.3%.

Cyprus Sees Growth In Business Services But Weakness In Hospitality

Cyprus’ latest figures show a similar divide between expanding business services and weaker hospitality-related activities. According to the Statistical Service of Cyprus (Cystat), professional, scientific and technical activities recorded the strongest annual growth among the covered sectors in the second quarter of 2026, increasing by 3.4%.

Transportation and storage and information and communication both grew by 2.1%, while real estate activities rose by 1.6%. In contrast, accommodation and food services declined by 3.1% year on year, and administrative and support services fell by 2.2%.

First-half results were more favourable for several sectors. Between January and June, professional, scientific and technical activities grew by 3.5%, transportation and storage by 2.8%, real estate by 2.1% and information and communication by 1.3%.

Nevertheless, administrative and support services contracted by 1% over the six-month period, while accommodation and food services declined by 0.7%.

How Cyprus’ Figures Differ From Eurostat’s Data

The Eurostat and Cystat figures measure different aspects of economic activity and are not directly comparable. Eurostat’s services production index tracks changes in the volume of output, whereas Cystat’s Turnover Value Index for Services and Transport measures the value of sales at current prices.

The reporting periods also differ: Eurostat’s figures cover August, while the cited Cypriot data relate to the second quarter and first half of 2026.

Cystat transmits services production data to Eurostat but does not yet publish a separate national production index. Turnover figures therefore remain the main publicly available national indicator for the sector.

Taken together, the data point to continued growth in several of Cyprus’ business-oriented services, alongside persistent pressure on accommodation, food and administrative support activities.