Regional maritime cooperation and Cypriot regulatory appointments

The ninth maritime meeting of Cyprus, Greece, and Malta was held in Limassol, featuring an expanded 3+1 format with Italy. Hosted by Cypriot Shipping Deputy Minister Marina Hadjimanolis, the summit brought together Greece’s Vassilis Kikilias, Malta’s Chris Bonett, and Italy’s Edoardo Rixi to address the future competitiveness and decarbonization of European shipping. The discussions highlighted a shared commitment to strengthening the Mediterranean maritime sector amidst evolving international economic challenges.

In a separate development, the Cypriot Cabinet approved a significant reshuffle of its financial sector leadership. George Karatzias was appointed chairman of the Cyprus Securities and Exchange Commission (CySEC) for a five-year term, with Loukas Lagoudis named vice-chairman and Andrea Moundi Savvides as a board member. Additionally, Panikkos Vakkou has transitioned to the Central Bank of Cyprus (CBC) as an executive director. Meanwhile, Tourism Deputy Minister Kostas Koumis introduced a €1.5 million grant scheme aimed at supporting hotels and leisure businesses in Kato Pyrgos Tyllirias. Running from 2026 to 2028, this initiative covers 85 per cent of eligible investment costs to boost tourism in less developed regions.