AGP Executive Report
Last update: 10 hours agoShipping: Castor Maritime’s MPC Oceanic agreed to buy a 41% stake in Limassol-based Marlow Navigation for about $126 million. The ship manager serves more than 1,150 vessels and has 16,000 crew members; Cyprus’s fleet has also grown by 119 vessels in three years. Energy and costs: Cyprus businesses paid the EU’s joint second-highest electricity price in the first half of 2026, at €0.23 per kWh. Inflation is estimated at 5.4% in October, with energy costs a major pressure; the government is seeking to extend fuel tax cuts through March 2027. Tourism: Arrivals held up in 2026, but hotel revenue fell 7–8% and profits by as much as 10%, as higher costs and weaker pricing squeezed margins. Airlines are interested in extending the winter season, while the industry looks to a 2027 rebound. Industry and investment: Cyprus’s retail turnover rose by double digits in September, while a new University of Nicosia challenge will give marketing students 72 hours to solve a real business brief.
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