Breaking news

High Occupancy Rates for Cyprus Restaurants in October; Winter Decline Anticipated

Restaurants, cafes, and bars in Cyprus experienced a strong October, with occupancy levels reaching 80 to 90 per cent, according to Neophytos Thrasyvoulou, president of the Federation of Leisure Centre Owners (Osika). He described October as a “very successful month” for the food service industry.

However, with winter approaching, Thrasyvoulou acknowledged potential challenges, especially with the impact of regional instability. “Visitor numbers have seen a slight drop in recent days,” he noted, though he hopes that occupancy levels will remain steady until mid-November. By early November, Thrasyvoulou expects visitor occupancy to hover around 50 to 60 per cent, after which the responsibility will lie with businesses to keep operating, with support from the Labour Ministry’s programme to extend the tourism season.

Reflecting on the earlier summer months of June and July, Thrasyvoulou highlighted that visitor numbers were initially lower than expected, largely due to Middle East tensions. The trend eventually improved, leading to a stronger second half of the season.

Despite rising costs, Thrasyvoulou urged business owners to maintain affordable pricing, aiming to keep dining accessible for both locals and tourists amid economic pressures.

Medochemie And Theramir Announce Strategic Investment Agreement To Advance Biotech Manufacturing In Cyprus

Pharmaceutical manufacturer Medochemie and biotechnology company Theramir, both Cyprus-based, have announced a strategic investment agreement and collaboration aimed at developing next-generation biological therapies and expanding manufacturing capabilities in Cyprus.

The agreement, announced on 2 September 2026, brings together Medochemie’s experience in pharmaceutical manufacturing and Theramir’s biotechnology research. The companies said the collaboration would support advanced pharmaceutical manufacturing in Cyprus and south-eastern Europe.

What The Partnership Covers

Medochemie’s contribution will include its expertise in manufacturing sterile therapeutic products and its access to international markets.

Theramir develops technologies based on extracellular vesicles and microRNAs. Its work includes using stem-cell-derived extracellular vesicles to deliver microRNAs, small, non-coding RNA molecules that regulate genes and biological pathways associated with cancer growth and metastasis.

Under the agreement, the companies will jointly support the development of “Good Manufacturing Practice” capabilities for next-generation biological therapies. The partnership is also intended to help move these therapies towards clinical development.

A Wider Role For Cyprus

The collaboration will also support Theramir’s wider research programme. According to the companies, it is intended to strengthen Cyprus’s biotechnology infrastructure and expand local capacity in next-generation biomanufacturing.

They present the agreement as a step towards giving Cyprus a larger role in biotechnology and advanced pharmaceutical manufacturing for south-eastern Europe and international markets.

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