Opens in a new tab

Breaking news

Greek Retailer Jumbo Group Sustains Growth Amid Global Uncertainty

Greek retailer Jumbo Group has demonstrated remarkable resilience, posting a 6% year-on-year sales increase in November 2025 despite operating against a strong performance benchmark from the previous year.

Robust Performance In High-Pressure Months

The company’s performance over the January–November period, with growth climbing close to 8%, confirms that Jumbo’s momentum remains strong as it approaches the sector’s critical final weeks. Historically, November and December are peak months for retail, where full capacity and daily turnover are key determinants of annual performance.

Expanding Global Footprint Through Strategic Franchise Partnerships

Jumbo Group has reinforced its international presence by deepening ties with local franchise partners. The November inauguration of its fourth store in Israel underscores the confidence in the brand, while plans announced by the Fox Group—the franchise rights holder for Israel and Canada—include adding another five to six stores in Israel during 2026 and launching three stores in Ontario next year, contingent on favorable market conditions.

Navigating Supply Chain Challenges Amid Unrest

Amid ongoing farmers’ protests, concerns have emerged over potential disruptions to supply chains, particularly delays at customs, road networks, and ports. Such challenges could adversely affect domestic replenishments and export flows, impacting overall economic activity. In response, the group has urged the state to maintain stability and ensure the smooth operation of the country during this precarious period.

Regional Growth Performance

Performance by market continues to be robust. In Greece, net sales—excluding intragroup transactions—rose by approximately 6% in November, with an annual growth of around 9% over the first eleven months. In Cyprus, November figures advanced by about 3%, reaching roughly 8% year-to-date. Bulgaria, which capitalized on online sales through e-jumbo.bg, saw an 8% increase in November, though the year-to-date growth remains at 4%. Romania, incorporating online activity, noted a 6% rise in November, with an overall annual increase nearing 5%.

Limassol Port Electrification Awaits Grid Connection And EU Funding

Plans to equip Limassol port with shore-side electricity are advancing at the technical level, but unresolved administrative procedures, a pending grid connection and the need to secure European funding continue to delay implementation.

The proposed shore-power system, also known as cold ironing, would allow vessels to connect to electricity while berthed, reducing reliance on onboard engines and cutting emissions and noise in the surrounding area.

Technical Studies Near Completion

Transport Minister Evi Tsolaki said work is progressing through the EU-backed DecarbonLim programme, which is preparing the technical assessment and feasibility study required before construction can begin. The ministry is seeking regular updates from the Cyprus Ports Authority on the studies’ completion timetable.

The initiative also involves Frederick University, Eurogate Container Terminal Limassol, DP World Limassol, the Electricity Authority of Cyprus, the Cyprus Transmission System Operator and Limassol Municipality.

Grid Connection Remains A Key Hurdle

Despite progress on the studies, construction cannot proceed until the project secures a connection to the national transmission network.

Tsolaki said the ministry has requested land from the Department of Lands and Surveys for an electricity substation. Once the site is allocated, the relevant applications can be submitted to the Cyprus Transmission System Operator to advance the grid-connection process.

Until these steps are completed, the project will remain in the preparatory phase, even if the technical studies are finalised.

European Funding Adds Urgency

The feasibility work under DecarbonLim will support an application for construction financing, Tsolaki said. A competitive European funding call is currently open, and the ministry intends to submit an application within the required timeframe.

The funding window has raised concerns in parliament. MP Fotini Tsiridou warned that further delays could undermine Cyprus’ chances of securing EU support, noting that similar port electrification projects elsewhere in the bloc have already received funding.

Speaking to Entrepreneurial Limassol, published by the Limassol Chamber of Commerce and Industry, Tsiridou said she had observed some progress but had yet to receive a formal response to her parliamentary question.

Environmental And Commercial Benefits

Tsiridou argued that shore-side electricity would deliver benefits beyond emissions reductions, including less noise and air pollution for residents near the port.

“Our port should not be disconnected from the rest of the city,” she said, describing shore-power infrastructure as both a necessity and a European obligation.

Across Europe, port electrification is increasingly linked to environmental performance and competitiveness. By allowing compatible vessels to switch off auxiliary engines while docked, shore-power systems can reduce local emissions and noise while supporting wider decarbonisation goals.

Construction Timetable Still Unclear

The Cyprus Ports Authority signed a contract with DBA S.p.A. in July 2025 for a comprehensive study of the system’s technical, economic and environmental requirements. The work was intended to establish the basis for installation and identify any necessary port infrastructure upgrades.

More than a year later, key steps concerning land allocation, grid connection and financing remain unresolved. No timetable has been announced for completing these procedures or submitting the final funding application.

Limassol’s shore-power project therefore remains between planning and implementation. Its next milestones are securing the substation site, progressing the transmission-network application and obtaining construction financing. Until these are in place, the port’s transition to shore-side electricity cannot move into the construction phase.

eCredo
Uol
Aretilaw firm
The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter