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Cyprus Resubmits Hospitality Bill With Extended Hours Under Review

by THEFUTURE.TEAM

March 31, 2026

Resubmission Sparks Renewed Legislative Scrutiny

The government resubmitted a revised bill regulating hospitality operations after withdrawing the initial draft minutes before its planned presentation in Parliament. Review of the proposal is now underway in the Parliamentary Committee on Commerce.

Originally developed by political parties, the measure was later reintroduced by Kyriakos Chatzigiannis following committee recommendations. Lawmakers aim to secure approval before the current Parliament is dissolved.

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Intense Debate Over Operating Hours And Noise Regulations

Strong reactions followed the withdrawal, as lawmakers noted the draft had been reviewed for more than five months across ten sessions. Debate centered on operating hours and noise regulations. Across political groups, positions diverged on late-night limits and enforcement mechanisms.

Key Provisions Of The Revised Bill

Changes agreed within the Committee on Commerce include extended operating hours for hospitality venues. Under the proposal, taverns and pubs could operate until 3:30 a.m. throughout the year. Music and dance venues may remain open until 5:00 a.m. following a ministerial decree. Authority to extend operating hours beyond 3:30 a.m., up to 5:00 a.m., rests with the Energy Minister upon proposal from the Deputy Minister of Tourism. Existing unlicensed venues operating before the law takes effect may apply for permits if requirements are met, excluding private clubs.

Decentralizing Licensing Authority

Responsibility for licensing shifts to local and community councils, replacing the previous centralized role of the Deputy Ministry of Tourism. In regional areas, the Interior Minister may delegate licensing powers for recreational spaces, with exemptions applying to hotel-casino establishments.

Ensuring Compliance And Accountability

Oversight will be handled through a centralized registry maintained by the Deputy Ministry of Tourism, alongside inspections. Where necessary, authorities may require corrective actions in coordination with licensing bodies. Requirements are also adjusted, including the removal of the risk assessment letter from the Labor Inspection Service. Banquet halls are exempt from displaying service price lists.

Further review is scheduled at the Parliamentary Committee on Commerce on Tuesday. Final approval depends on resolving disagreements over operating hours and enforcement rules.

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Bank of Cyprus Upgrade Signals Fresh Optimism For Greek And Cypriot Banks

by THEFUTURE.TEAM

June 26, 2026

Regional Banks Enter A More Favorable Cycle

Bank of Cyprus and Eurobank are well positioned to benefit from a renewed re-rating of Greek and Cypriot bank stocks, according to Cyprus-based investment firm Roemer Capital, which upgraded Bank of Cyprus to a buy rating and reaffirmed its positive view on Eurobank.

The firm cited easing geopolitical tensions, resilient economic growth in Greece and Cyprus, lower funding costs and Greece’s expected transition to developed-market status as the main factors supporting the sector.

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Roemer Capital also lowered its cost of equity assumptions, updated its forecasts following first-quarter 2026 results and extended its valuation horizon to the end of 2027, raising target prices across its banking coverage.

Bank Of Cyprus Gets The Largest Upgrade

Bank of Cyprus received the biggest revision, with Roemer Capital upgrading the stock from hold to buy and setting a target price of €11.10, implying potential total upside of 27%.

The firm highlighted the bank’s strong capital generation, profitability and projected 100% dividend payout, describing it as the strongest capital-return story among the banks under coverage. Roemer Capital maintained its buy rating on Eurobank, assigning a target price of €4.90 and forecasting potential upside of 28%. The report said the bank is well placed to benefit from loan growth, improving operating performance and merger-and-acquisition synergies.

National Bank of Greece and Piraeus Bank also retained buy ratings, with expected returns ranging from 25% to 36%. Optima Bank was upgraded to buy, while Alpha Bank remained at hold on valuation grounds.

Why Growth Still Sets The Region Apart

According to Roemer Capital, Greek and Cypriot banks continue to benefit from stronger economic fundamentals than many western European peers. The report pointed to faster economic growth, healthier balance sheets, low levels of non-performing exposures, capital ratios approaching 20% and strong customer deposit bases.

Analysts expect performing loans across the sector to grow at a compound annual rate of 6% to 8% through 2028, supported by private investment, digitalisation, green manufacturing, supply-chain expansion and a gradual recovery in household lending.

The report also said the conclusion of lending under the EU Recovery and Resilience Facility is unlikely to materially affect credit growth, as banks have already shifted back towards traditional commercial lending. Roemer Capital expects Euribor to remain between 2.2% and 2.5%, a level it believes should support both lending activity and net interest margins.

Geopolitics, Valuation And Market Structure Support The Case

The report said improving geopolitical conditions have strengthened the investment outlook, noting that Brent crude prices have largely returned to pre-war levels while Greek government bond yields have stabilised at around 3.5%. Although geopolitical risks remain, Roemer Capital believes the likelihood of a major inflationary shock or significant pressure on bank profitability has eased.

Another important catalyst identified by the firm is Greece’s expected promotion to developed-market status by FTSE Russell, STOXX and MSCI over the coming months.

According to the report, the reclassification should improve liquidity and attract a broader base of international investors. Roemer Capital also said Euronext’s acquisition of the Athens Exchange is expected to strengthen market infrastructure and increase international visibility, particularly for Bank of Cyprus and Optima Bank.

The firm noted that Bank of Cyprus has already benefited from its Athens listing, with average daily trading value increasing from less than €400,000 before its September 2024 move to nearly €6 million afterwards.

Economic Momentum Remains A Core Tailwind

Roemer Capital said both Greece and Cyprus have moved beyond post-crisis recovery and are now supported by private-sector-led growth. For Cyprus, the report highlighted recent tax reform and efforts to simplify the legal and regulatory framework, while also noting that limited foreign banking competition continues to support domestic lenders.

Overall, Roemer Capital expects Greek and Cypriot banks to remain well-positioned for profitable loan growth over the coming years.