Breaking news

High-Powered European Business Leaders Convene In Nicosia Ahead Of Cyprus’ EU Council Presidency

by THEFUTURE.TEAM

November 21, 2025

European business titans have descended on Nicosia for BusinessEurope’s Council of Presidents, signaling a strategic pivot as Cyprus readies itself for its EU Council Presidency in 2026. This prestigious event, hosted by the employers and industrialists federation OEV (OEV), underscores the region’s determination to streamline regulatory frameworks and spur economic growth.

Strategic Engagement At The Presidential Palace

The high-level gathering, which includes presidents from 42 employer federations representing 36 nations, commenced with a meeting with President Nikos Christodoulides (Presidency of Cyprus) at the Presidential Palace. The evening continued with an official dinner in his presence, cementing the event’s significance in fostering dialogue between government and business.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Focused Dialogue On Economic Modernization

At the upcoming sessions set for Friday at Hilton Nicosia, discussions are poised to address a range of critical topics. Among these are the imperatives of reducing bureaucracy, bolstering competitiveness, and mitigating energy costs. OEV President George Pantelides, who also serves as a vice-president of BusinessEurope (BusinessEurope), stressed that excessive regulation remains one of the most inhibiting factors for the union’s economy.

Exploring Sustainable And Competitive Economic Strategies

The comprehensive agenda extends to examining the strategic priorities for Cyprus’ forthcoming EU Presidency. In addition to debates on innovative practices for a sustainable economy, the summit will scrutinize broader international relations, including geopolitical instability and the restructuring of global transport networks. Notably, the shipping sector—a cornerstone of both the European and Cypriot economies—will receive particular attention.

Embracing The Green Transition And Technological Advances

Further discussions are set to explore the evolving demands of the green transition. With the push for zero emissions and the adoption of cutting-edge technologies, business leaders are tasked with aligning regulatory reforms with the imperatives of sustainable progress. European fisheries commissioner Costas Kadis is expected to contribute to these discussions, adding further depth to the summit’s multifaceted agenda.

This landmark summit not only reflects the collaborative spirit of European business leadership but also highlights the proactive measures required to foster an environment conducive to innovation and sustained growth. With Cyprus at the helm as it approaches its 2026 EU Presidency, the dialogue is set to shape policy reforms that could reverberate across the continent.

The Future Forbes Realty Global Properties

Rolls-Royce Raises Guidance As Defense And Power Systems Drive Growth

Rolls-Royce raised its full-year profit and cash flow guidance after reporting stronger-than-expected first-half results, supported by growth across its civil aerospace, defense and power systems businesses.

Underlying operating profit rose 46% year on year to £2.5 billion ($3.3 billion) in the first six months of 2026, while revenue increased more than 24% to £11.3 billion.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

The company now expects full-year underlying operating profit of £4.7 billion to £4.9 billion, up from previous guidance of £4 billion to £4.2 billion. It also raised its free cash flow forecast to £3.8 billion to £4 billion, compared with £3.6 billion to £3.8 billion previously.

Shares rose as much as 6% in early trading before paring gains to trade about 4% higher.

Data Center Demand Supports Power Systems

Chief Financial Officer Helen McCabe told CNBC that orders in Rolls-Royce’s data center power business increased by more than 50% in the first half as operators invested in backup and on-site power systems.

The company has benefited from growing demand for power infrastructure as data center operators expand capacity.

Defense Spending Provides Additional Support

McCabe also said Rolls-Royce expects to benefit from higher defense spending in the U.K. and across NATO countries. She cited the U.K.’s long-term defense investment plan, which provides funding visibility through 2030 and beyond.

“We’ve had very positive initial conversations with the new government,” McCabe said, adding that the company supports its focus on growth, defense and industrial manufacturing.

Turnaround Continues

Chief Executive Tufan Erginbilgic said the company’s transformation strategy continued to deliver results. “Our transformation continues to deliver,” he said in a statement. “We have unlocked new growth opportunities across the Group.”