Michalis Mitas Appointed As New President Of Paphos Regional Tourism Board

Leadership Transition And Strategic Renewal

The Paphos Regional Tourism Board has announced a significant leadership change, naming Michalis Mitas as its new president. Mitas succeeds Kyriakos Drousiotis, whose two consecutive terms from 2021 to 2025 left a legacy of financial health and forward-thinking initiatives within the organization.

A Well-Planned Handover

At a special board session on July 16, the outgoing president expressed confidence in the board’s continued success and robust financial status. He underscored the organization’s progress towards becoming a smarter, more accessible, sustainable, and creative destination. His parting message was clear: it is now the responsibility of Mitas to build on this strong foundation, further consolidating Paphos’ reputation as a premier tourism hub.

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Vision For Continued Innovation

New president Michalis Mitas emphasized his commitment to maintaining the board’s dynamic initiatives. He assured stakeholders that core actions—such as enhancing tourist experiences and promoting a diverse range of initiatives—would not only continue but be further strengthened. Mitas outlined his strategy to improve collaborative efforts with industry partners and address long-standing challenges including accessibility issues and the decline of rural, maritime, and coastal tourism sectors.

Expertise And Strategic Background

Mitas brings a wealth of experience to the role. With a 15-year tenure as a board member of the Paphos Chamber of Commerce and Industry and significant involvement with various organizations, he is well-positioned to lead the board. Additionally, his role as assistant general secretary of the Cyprus Football Association and a robust academic background in business administration and marketing underscore his credentials. Moreover, his 35-year career in managing tourist accommodations aligns seamlessly with the board’s objectives for growth and innovation.

Looking Ahead

Assuming the presidency from 2025 to 2027, Michalis Mitas is set to build on the legacy of his predecessors and drive strategic progress within the Paphos tourism sector. His leadership signals a renewed focus on financial resilience, innovation, and sustainable development, positioning the organization to navigate future challenges and opportunities effectively.

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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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