Speaking on the latest episode of Property Talk by Bazaraki, Loizou said the continued construction of residential developments, particularly in coastal cities, does not necessarily mean that Cyprus is producing the homes its own residents need.
Instead, developers are increasingly targeting foreign buyers with greater purchasing power, while higher construction costs and relatively modest wage growth are making homeownership increasingly difficult for many Cypriots.
For Loizou, the apparent contradiction between rising residential construction and worsening affordability is not difficult to explain.
“Both can be true at the same time,” he said, referring to the growing number of developments and the inability of local buyers to afford them.
Makis Keravnos said GDP growth during the 2027-2029 period is projected at around 3 per cent on average, with inflation next year expected to decline to 2.5 per cent – down from 4.6 per cent overall for 2026.
The general government’s balance sheet will again post a surplus in 2027, hovering at around 3.9 per cent of GDP.
Meanwhile public debt as a percentage of GDP would continue falling next year.
Speaking to media after presenting the budget in parliament, Keravnos said the external environment is particularly adverse amid escalating armed conflicts – the wars in Ukraine and the Persian Gulf.
These conflicts have created a serious energy crisis, creating pressures on European economies and impacting individuals and businesses alike.
The company announced the leadership change on October 12, with Kouveliotis taking over immediately as part of a transition to the next generation of executives.
Gerogiannis, one of Aegean’s founding executives, will continue to oversee the group’s technical base and training centre, supporting their development as part of the company’s future direction.
Kouveliotis has served as Aegean’s chief financial officer since before the company was listed on the Athens Stock Exchange.
The meeting brought together Piki and the president of the Nicosia Evel, Michalis Mousiouttas, alongside members of its board of directors, with discussions focusing on the challenges facing local enterprises and opportunities for further economic development.
In a statement posted on X on Sunday, Piki stressed the importance of closer cooperation between the government and business community in addressing obstacles to investment and improving competitiveness.
She said meaningful dialogue and cooperation between the public and private sectors were essential to creating a more competitive business environment, describing the Cyprus Chamber of Commerce and Industry (Keve) and its district chambers as valuable government partners.
In its latest report, whose findings were shared by Greek business outlet Newmoney, the investment bank said that it maintained a positive outlook for Greek lenders, highlighting their valuations, resilient profitability and strong capital positions despite renewed volatility in European bond markets.
Alpha Bank is among Morgan Stanley’s preferred mid-cap European banks, with an Overweight recommendation and a target price of €5.50, compared with €4.65 in the report’s valuation, implying potential upside of around 18 per cent.
Morgan Stanley also favours Piraeus Bank and Eurobank, assigning both an Overweight recommendation.
The increase came as employment in the educational service rose by 4 per cent and the security forces grew by 2 per cent, while civil service staffing declined by 1.2 per cent.
The civil service remained the largest of the three services, although its workforce fell from 23,098 to 22,812 employees.
Meanwhile, the educational service added 632 employees to reach 16,485, compared with 15,853 in September 2025, while the security forces increased from 13,579 to 13,855.
Across the state workforce, permanent employees were the only category to record an overall increase, rising by 3.2 per cent from 32,832 to 33,893.
The bank paid an average of €4.5312 per share during the five-day period, according to an announcement issued on Monday.
The purchases were carried out on Euronext Athens through Eurobank Equities Single Member Investment Firm SA, under a programme approved by the bank’s annual general meeting on April 28, 2026, and its board of directors on April 29.
The largest daily purchase took place on October 9, when Eurobank bought back 653,284 shares for €2.88m, at an average price of €4.4015 per share.
On October 8, it repurchased 514,312 shares for €2.28m, at an average price of €4.4298.
The purchases were carried out through the Cyprus Investment & Securities Corporation Ltd (CISCO), under an authorisation granted at Demetra Holdings’ annual general meeting on June 30, 2026.
The federation outlined its position during a tripartite technical committee of the International Labour Organisation (ILO) on occupational safety and health in retail, held in Geneva, Switzerland, from September 28 to October 2, 2026.
Oev was represented by Amalia Papaioannou, an officer in its Energy and Environment Department, who participated as a member of a small international employers’ delegation.
The committee brought together government representatives, employers’ organisations and workers’ organisations from various countries to examine existing and emerging risks to retail employees, taking into account ongoing changes in the world of work and the growing use of new technologies.
The workshops, titled “Your money. Your power”, will take place at the Landmark Nicosia, Autograph Collection, from 2.30pm to 7.30pm on both days, according to an announcement issued by the committee on Monday.
The initiative is open to women of all ages, professions and levels of financial knowledge, with no previous experience or expertise in financial matters required.
Participants need only an interest in learning how to manage their personal finances more effectively and plan their financial futures.
The initiative is being carried out by Etap Paphos with the support of the Deputy Ministry of Tourism and the Municipality of Ierokipia, as part of efforts to enrich the visitor experience and promote lesser-known attractions in the area.
According to the tourism board, participants welcomed the quality of the tour and the variety of attractions included, while bookings and participation for the next scheduled routes have been increasing.
Accompanied by a licensed tour guide, visitors explored several cultural and historical sites, including the historic church of Agia Paraskevi, the Sacred Gardens and the Kato Vrysi spring.
The event ran from 9am to 7pm on Saturday, October 10. President Nikos Christodoulides opened the festival, where visitors could explore interactive displays and take free catamaran trips.
Hadjimanolis said Thalassa began with a simple idea: “to bring the sea closer to people, to get to know it, experience it and love it even more and, above all, to pass on this relationship with the sea to the next generations.”
For Cyprus, she said, the sea was part of the country’s “identity, history, economy and future”.
The festival aimed to bring the public closer to the people and work behind shipping, with a particular focus on young people.
The publication was prepared for the 10th World Investor Week (WIW), an international campaign organised by the International Organisation of Securities Commissions (IOSCO), and brings together social media graphics and public awareness messages designed to help investors make better-informed financial decisions.
The booklet centres on three main themes, encouraging investors to build the knowledge and confidence needed to manage risk and pursue long-term financial goals, recognise digital deception and identify potential investment fraud.
The report, prepared by the anti-money laundering unit (Mokas) and circulated to regulated entities by the Cyprus Securities and Exchange Commission (CySEC), examines both the volume and quality of reports submitted by businesses and professionals required to flag suspected financial crime.
Crypto-asset service providers accounted for 20,570 reports, while investment firms submitted another 980, reflecting the substantial contribution of firms licensed in Cyprus but providing services across the European area under the EU’s freedom to provide services rules.
The trade deficit reached €6.3bn between January and August, compared with €5.48bn in the corresponding period of 2025, an increase of €819.8 million, almost 15 per cent.
Total imports of goods rose to €10.26bn during the eight-month period, up from €9.25bn a year earlier.
Exports, meanwhile, increased to €3.95bn, compared with €3.76bn during the same period of 2025.
The latest figures showed that the widening trade gap was driven by a stronger increase in imports, despite growth in exports over the eight-month period.
The transaction was disclosed in line with the applicable legal and regulatory framework, the announcement added.
The company recently disclosed that its sales in Cyprus increased by approximately 15 per cent year-on-year in September, while sales for the first nine months of 2026 rose by around 7 per cent.
At the same time, group sales grew by 8 per cent in September and 6 per cent between January and September, with Bulgaria also recording strong growth. Romania was the only market to report a decline.
Specifically, the lender said it bought 2,248,692 shares traded on Euronext Athens during the period from October 5 to October 9, at an average price of €4.3097 per share.
The purchases took place over two trading days, with 1,105,285 shares acquired on October 7 for €4.88 million, at an average price of €4.4163 per share.
Total beer deliveries reached 4.32 million litres, down from 4.37 million litres in September 2025.
Deliveries to the domestic market rose by 2.4 per cent to 4.29 million litres, compared with 4.19 million litres a year earlier.
Exports, however, plunged by 84.4 per cent to 28,577 litres, from 183,503 litres in September 2025.