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Cyprus Set To Host FIBA EuroBasket 2025 In Limassol

by THEFUTURE.TEAM

Cyprus Makes A Landmark Debut

Cyprus is poised to enter the international basketball arena as Limassol prepares to host the FIBA EuroBasket 2025 from August 28 to September 4. This historic event will take place at the state-of-the-art Spyros Kyprianou Sports Centre, marking the island nation’s inaugural participation in the tournament and positioning it as a center for global sports excellence.

Economic And Tourism Boost

Deputy Minister of Tourism, Costas Koumis, highlighted the event as a prime opportunity to enhance Cyprus’ profile as both a tourist destination and a premier venue for international competitions. With preparations underway to welcome a five-digit number of foreign visitors, the tournament promises to inject significant revenue into the local economy, with projected economic impacts estimated between €13–17 million. This influx of visitors will invigorate local businesses and demonstrate Cyprus’ commitment to leveraging sports tourism for long-term growth.

Global Audience And International Exposure

The tournament is set to capture the attention of a global audience, with broadcast coverage expected to reach, and potentially exceed, the 300 million viewers from EuroBasket 2022. In addition, a vibrant social media presence will further amplify the event’s impact. The participation of elite national teams and the debut appearance of the Cyprus national basketball team underscore the significance of this competition on both a European and international scale.

Robust Security And World-Class Preparations

Ensuring a safe and secure environment is paramount. Authorities have implemented advanced security measures including drones, sniffer dogs, and enhanced police presence. Comprehensive security drills at the Spyros Kyprianou Sports Centre have been conducted to fine-tune logistics, crowd management, and emergency response protocols, reaffirming Cyprus’ readiness to host a high-caliber sporting event.

Cultural Integration And International Partnerships

Beyond the game, the event is designed to celebrate Cypriot culture. A dedicated Fan Zone at the city’s Old Port will offer entertainment and live game screenings, while foreign journalists are invited to experience traditional Cypriot life with a guided tour of Lefkara, featuring local customs and culinary delights. This strategic blend of sport and culture is further bolstered by the support of esteemed sponsors such as Allianz, EKO, and the Bank of Cyprus, underscoring the event’s robust international partnerships.

A Turning Point For Cypriot Basketball

As the Cyprus Basketball Federation completes arena renovations ahead of schedule, the upcoming tournament is being hailed as a turning point that will firmly establish Cyprus on the international basketball map. With continued efforts by government officials and sports administrators, EuroBasket 2025 is set to deliver both prestigious exposure and tangible economic benefits, marking a new chapter for sports tourism and international engagement in Cyprus.

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

by News Editor

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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