Keve Establishes Cyprus’ Inaugural Business Association Of Sports

by THEFUTURE.TEAM

October 28, 2025

A New Chapter In Cyprus’ Sports Industry

The Cyprus Chamber of Commerce and Industry (Keve) has announced the creation of BAS Cyprus, the nation’s first Business Association of Sports. This pioneering initiative is designed to integrate the sports and business sectors, driving collaboration, innovation, and sustainable development across the region.

Fostering Investment And Innovation

The newly established BAS Cyprus is set to become a vital link for companies, organizations, and professionals operating in the sports arena. By building a robust network of partnerships and offering comprehensive training and representation, BAS aims to attract investment, catalyze innovation, and generate fresh employment opportunities. The initiative is positioned to elevate Cyprus as a regional hub for sports business and innovation.

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Bridging Business And Sport

Philokypros Roussounides, Keve Secretary General, highlighted the significance of this step as a means to bolster Cypriot sport through enhanced business engagement and international outreach. BAS Cyprus is envisioned as a bridge between entrepreneurship and sport, reinforcing international participation while contributing to the economic, social, and environmental development of the country.

Championing A Collaborative Future

BAS Cyprus is open to a wide spectrum of participants—from traditional businesses and sports clubs to startups and service providers. By fostering networking and strategic partnerships on both local and international levels, BAS is set to offer its members increased visibility and access to specialized knowledge crucial for strengthening their market positions.

Industry Leadership And Strategic Growth

Under the leadership of President Eva Pourkou, along with vice president Aristos Potamitis, general secretary Panos Georgiou, treasurer Marios Athanasiou, and board member Mary Charalambous Papamiltiadi, BAS Cyprus is poised to drive the evolution of the sports sector. As Cyprus capitalizes on untapped potential in the international sports arena, BAS emerges as a key player in uniting business acumen with sports excellence.

Keve’s commitment to supporting initiatives that propel the nation forward is evident in this strategic formation, promising to deliver lasting benefits for Cyprus’ sporting and economic landscapes.

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

by News Editor

October 21, 2026

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.

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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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