Sustainable Urban Mobility Transformation: Larnaca’s €19 Million Initiative Unveiled

by THEFUTURE.TEAM

August 19, 2025

Project Overview

Larnaca has embarked on a transformative journey in urban mobility with the official launch of its €19 million sustainable mobility project. This initiative, marked by the signing of a crucial construction contract at the Transport Ministry’s public works department, signals a significant advancement for the city’s infrastructure and public transport framework.

Legal Resolution And Contract Finalization

Previously mired in legal complexities, the project’s trajectory was restored following the annulment of the initial contract award. The administrative court invalidated the original tender due to irregular meeting sessions by the review authority. With these issues now resolved, the contract, valued at €18.34 million (excluding VAT), has been finalized with Araco Construction Cy Ltd. The project is set to commence in September 2025 and will span 16 months, concluding in January 2027.

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Strategic Urban Mobility Enhancements

Financed through the Recovery and Resilience Plan alongside national resources, this project is a cornerstone of Larnaca’s Sustainable Urban Mobility Plan (SUMP). It aims to foster public transport, bolster multimodal connectivity, and enhance road safety, accessibility, and overall quality of life. Key facets include the reconstruction of road surfaces, the creation of dedicated bus lanes complete with modern bus stop infrastructure, and the development of approximately 22 km of state-of-the-art cycling lanes.

Comprehensive Infrastructure And Long-Term Sustainability

The project also emphasizes the modernization of pedestrian facilities through new and upgraded pavements, zebra and Pelican crossings, as well as cyclist-friendly intersections. Upgrades to traffic management systems, including new traffic lights and enhanced signage, are set to streamline urban navigation. Additionally, essential supporting systems such as drainage, road lighting, sewage management, irrigation for green spaces, and water supply structures form a fundamental component of the overall scheme.

As the initiative advances, Larnaca is poised to secure long-term economic and environmental benefits, solidifying its commitment to sustainable urban development and setting an industry benchmark for future urban mobility projects.

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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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