AGP Executive Report
Last update: 8 hours agoAphrodite Gas: Egypt and Chevron have signed a fiscal framework for developing Cyprus’ offshore gas field and connecting it to Egyptian infrastructure, advancing plans for domestic use or exports. Industrial Costs: Cyprus producer prices rose 4.2% year-on-year in August, led by an 11.6% jump in electricity prices; manufacturing prices were up 2.2%. Digital Commerce: A €2 customs-processing fee will apply from November 1 to parcels arriving from outside the EU single market, on top of the EU’s €3 duty on low-value parcels. Technology: Limassol-based Asbis reported record monthly revenue of $1.05 billion in September, citing demand for AI solutions and computing infrastructure. Energy and Shipping: Fuel prices in Cyprus rose 24.6% year-on-year in September, while Turkey said it would not oppose seabed surveys for the Greece-Cyprus power link if given written notice. Cyprus is also courting Japanese shipping companies as its ship registry grows. Public Finances: Cyprus recorded the EU’s highest 2025 budget surplus, at 3.6% of GDP, with revenue reaching €15.9 billion.
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