Nicosia, Cyprus. Cyta welcomed a House of Representatives decision approving legislation allowing it to enter the energy sector. Separately, RIF announced two funding calls, and Cystat reported a marginal increase in February petroleum product sales.
Cyta expansion into energy sector
Telecoms provider Cyta said the House of Representatives’ approval of legislation enabling the organisation to enter the energy sector is a pivotal step in its evolution. The decision allows Cyta to expand into a new and competitive market, marking a strategic shift as it adapts to changing economic conditions.
Cyta expressed appreciation to MPs from all parties who participated in the process and highlighted the importance of the parliamentary vote. Maria Tsiakka, chair of the Cyta board of directors, said: “Now all of us here at Cyta can turn the vote of confidence of the House into a tangible benefit for society, with responsibility and hard work.”
RIF launches innovation funding calls
The Research and Innovation Foundation announced two new funding calls aimed at bringing research closer to businesses in Cyprus through targeted innovation programmes. The calls fall under the Proof of Concept and Research in Enterprises programmes, which are designed to support the development and commercialisation of research outcomes.
The Proof of Concept programme focuses on preliminary exploration of industrial applications for technologies or know-how emerging from research activities. The Research in Enterprises programme targets the creation or substantial improvement of products, services and production methods by Cypriot businesses.
Cystat reports February petroleum sales
The Cyprus Statistical Service reported that total petroleum product sales in February 2026 reached 111,922 tonnes, a 0.1 per cent year-on-year increase compared to February 2025. Cystat said the figures reflect market conditions before the escalation of the conflict involving Iran, which has since driven significant increases in fuel prices.
What impact do you think Cyta’s move into the energy sector could have on competition in Cyprus?