Cyprus business roundup: India shipping ties, Nicosia tourism and banking challenges
Cyprus prepares further maritime cooperation with India, Nicosia targets Greek visitors, and a banking expert assesses the threat from technology giants.
Nicosia, Cyprus. Cyprus–India maritime cooperation, Nicosia’s efforts to attract Greek visitors and the changing competitive landscape in banking featured among Cyprus’s top business stories for the week starting October 5.
Cyprus and India prepare next phase of maritime cooperation
Cyprus and India are preparing the next phase of their maritime cooperation, with a business forum planned in Mumbai in November. Shipping Deputy Minister Marina Hadjimanolis is expected to travel to India with a maritime business delegation.
Indian High Commissioner Manish Manish said preparations for both initiatives were discussed during a series of maritime engagements held in Cyprus from September 28 to October 1, as the two countries seek to expand commercial and institutional links in shipping.
The programme followed the first India–Cyprus Joint Maritime Committee meeting, held in Limassol on September 29 under the bilateral Agreement on Merchant Shipping signed in 2017.
Nicosia promotes year-round tourism to Greek visitors
Nicosia is seeking to attract more visitors from Greece by promoting its culture, gastronomy, events and surrounding countryside as a year-round tourism offering, according to Nicosia regional tourism board (Etap Nicosia) president Theodoros Kringou.
Speaking to Greek tourism and business representatives at a recent event in Athens, Kringou highlighted the close travel links between the two countries. He said Nicosia could offer Greek visitors a combination of short city breaks, cultural experiences, food, nature and professional travel.
More than 12,000 visitors from Greece travelled to Cyprus in July 2026, while more than 80,000 Cyprus residents travelled to Greece during the same month, according to Cyprus Statistical Service (Cystat) figures cited by Kringou.
Technology giants could pose a greater threat to banks
Technology giants such as Apple, Amazon and Google may pose a greater long-term threat to traditional banks than fintech companies, London Business School professor Costas Markides said. He warned that control of the customer relationship is becoming the key battleground in financial services.
In an interview with Forbes Cyprus ahead of the first Forbes Next Gen Banking & Fintech Summit, scheduled for October 13 at the Four Seasons in Limassol, Markides said fintech companies have fundamentally changed banking but are unlikely to displace traditional banks altogether.
Instead, he expects the sector to move towards a hybrid model combining competition and cooperation between established lenders and fintech firms.
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