Ministerial Council Approves Up To €1.515 Million In Grants For Weather-Affected Farmers

by THEFUTURE.TEAM

September 23, 2025

The Ministerial Council has sanctioned grants totaling up to €1.515 million for farmers impacted by adverse weather conditions during the 2024/2025 growing season. This decision, taken on September 17 following a proposal from the Ministry of Agriculture, Rural Development and Environment, represents a significant step toward supporting the agricultural sector in challenging times.

Targeted Support For Key Crops

The approved support covers a range of crops including olives, avocados, bananas, artichokes, winter potatoes, citrus fruits, and peppers. In addition, a separate allocation will provide exceptional support to potato growers affected by the CORAL weather phenomenon. This targeted funding underscores the government’s commitment to both immediate relief and the long-term viability of the primary sector.

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Accelerated Payment Schedule

Unlike previous years, when payments were made in December, the new disbursement schedule is set to roll out in phases starting within the next few days and will be fully completed by the end of October 2025. This acceleration is aimed at offering timely relief to those impacted by the extreme weather conditions.

Funding Mechanisms And Future Considerations

The financial support will be distributed through the National Funding Framework for losses from adverse climatic phenomena and, where applicable, under Regulation (EU) 1408/2013 for de minimis support. The Ministry stated, “The objective is to provide tangible support to farmers, thereby contributing to the stabilization and sustainability of the primary sector.”

With this approval, the current cycle of payments for the specified crops and losses is now complete. Any further damages incurred during the year will be evaluated independently through risk management initiatives executed by the Agricultural Production Insurance Fund.

Further Information For Stakeholders

The Ministry invites stakeholders to seek additional information by contacting the Risk Management Department of the Agriculture Sector at 22408540 or by visiting the local Regional Agricultural Offices.

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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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