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CITEA Elects New Board With Strategic Industry Leadership

by THEFUTURE.TEAM

January 30, 2026

The Cyprus Information Technology Enterprises Association (CITEA), a prominent entity within the Employers and Industrialists Federation (Oev), has unveiled its newly elected board of directors for the 2026–2027 term following its annual general meeting.

Key Leadership Appointments

George Malekkos of GM Powersoft Insights has been appointed president, affirming his position as a visionary leader in the tech industry. IBM’s Antonia Michael was selected as vice president, reinforcing the board’s commitment to innovation and strategic growth.

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Diverse Expertise Across the Industry

The new board panel comprises distinguished professionals representing a broad spectrum of the technology and professional services landscape. Notable members include Nikos Kaisis of AA AcenetWorks, Michalis Michael of AC Goldman Solutions, Aris Anastasiadis of Advance Business Solutions, Andreas Kasiouris of Ath Loizou, and Stelios Kolou of AT Multitech.

Further extending its industry reach, the board also welcomes Stavros Theofilou of Blue Sun Automation, Michalis Nicolaou of CDMA Services, Elena Strouthou of Cocoon Creations, Alexandros Makrygiannis of Cyta, and Angelos Kountouris of Cytacom.

Expert Insights And Strategic Collaboration

Adding to the board’s strategic expertise, representatives from leading consulting and audit firms—Michalis Ziniaris of Deloitte, Minos Georgakis of PwC, and Thomas Hoplaros of Simplex—will further strengthen CITEA’s influence. At the public segment of the meeting, Themis Papasolomontos, deputy director of the Department of Industry and Technology, delivered remarks on behalf of the Minister of Energy, underscoring the collaborative synergy between the ministry and CITEA. Oev President Giorgos Pantelides also emphasized the association’s pivotal role within the federation.

Looking Forward

The ceremony concluded with outgoing President Dimitris Nisiotis reflecting on the board’s significant contributions over his tenure, highlighting key initiatives and collaborative successes that have defined CITEA’s robust role in supporting its member community. As the association embarks on a new chapter, the fresh board is poised to drive further advancements in Cyprus’s technology sector.

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Cyprus Introduces €200 Million Support Measures To Cut Energy And Food Costs

by THEFUTURE.TEAM

March 27, 2026

Comprehensive Relief Measures For A Resilient Economy

The government of Cyprus introduced support measures exceeding €200 million to reduce household expenses and support key sectors. The package targets energy costs, food prices, tourism and agriculture. Measures come in response to rising costs and supply pressures. Implementation begins in April and May 2026.

Energy And Fiscal Reforms

The government will reduce VAT on electricity for households to 5% from May 1, 2026, to March 31, 2027. The measure is expected to lower energy bills. Special consumption tax on transport fuels will decrease by 8.33 cents per liter between April and June 2026. Policy targets fuel-related costs.

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Broadening The Zero VAT Initiative

Authorities will expand the list of products with zero VAT. Meat, poultry and fish will be included from April 1 to September 30, 2026. Existing zero-VAT categories already include fruits and vegetables. The government also decided not to introduce a green tax on fuels, avoiding an additional cost of about 9 cents per liter.

Sector-Specific Supports

The package includes a 30% wage subsidy for hotel employees for April 2026. Measure supports tourism businesses during the early season. Support for airlines aims to maintain connectivity with key destinations. The agriculture sector will receive subsidies covering 15% of costs for fertilizers and supplies in April and May.

Economic Stability, National Security

President Nikos Christodoulidis said economic stability remains a priority for the government. He noted that growth, fiscal balance and inflation trends support current policy decisions. Statement links economic policy with broader national priorities. The government continues to monitor external risks.

Ensuring Consumer Protection

Furthermore, the government has mandated rigorous market oversight and intensified inspections to prevent exploitative pricing during this period of economic intervention. This proactive stance ensures that the benefits of the measures directly serve the citizens without unintended inflationary impacts.