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Cyprus Set To Propel Its Space Ambitions With First Homegrown Satellite Launch

Cyprus is gearing up for a landmark achievement with the planned launch in 2026 of its first domestically developed satellite. Spearheaded by Dimitris Skouridis, Chief Scientist and President of the Foundation for Research and Innovation (ΙΔΕΚ), this ambitious project benefits from the support of both NASA and COSPAR, the global space research organization. This milestone not only underscores Cyprus’ technological progress, but also signals a bold entrance into the international space arena.

International Collaboration And Prestigious Conferences

Dimitris Skouridis inaugurated the sixth global COSPAR conference, “Exploration Of Space 2025: Humanity’s Challenges And Celestial Solutions,” held in Nicosia from November 3 to 7, 2025. The event, organized under the aegis of his office and with the Foundation for Research and Innovation as a major national sponsor, brought together ambassadors, over 40 representatives from international space agencies, leading astronauts, and prominent industry figures including Niklas Hedman, the newly appointed Chief Executive of COSPAR, former deputy director at UNOOSA; John G. Reed of United Launch Alliance; and Jean-Yves Le Gall, former CEO of Arianespace.

Building A National Space Infrastructure

Among the significant initiatives is the establishment of the Cyprus Space Research and Innovation Center (C-SpaRC), described by Skouridis as a cornerstone in advancing national scientific capabilities. With a budget of €2.5 million financed by ΙΔΕΚ, this state-of-the-art facility is managed by the Cyprus Space Exploration Organization (CSEO) and benefits from collaborative ties with NASA’s TRISH, Lockheed Martin, the Sodankylä Geophysical Observatory, and leading Cypriot research institutions. The C-SpaRC’s ultramodern facilities are set to streamline prototype development, production, and space testing, positioning Cyprus as a key participant in European and global space missions.

Enhancing Cyprus’ Regional And Global Influence

Skouridis also highlighted the strategic importance of Cyprus’ integration into the European Space Agency (ESA) as an associate member, along with the nation’s recent signing of the Artemis agreements with NASA in 2024. These developments fortify Cyprus’ role in international space exploration and collaborative research.

Resounding Endorsements And Future Prospects

The conference opened with remarks from George Danos, President of the Cyprus Space Exploration Organization (CSEO), and included addresses by influential figures such as Professor Pascale Ehrenfreund, President of COSPAR, who heralded the event as the beginning of an exciting week of scientific exchange focused on harnessing space observation for global climate research ahead of COP13 in Brazil.

Additional endorsements came from key government representatives and industry leaders. George Komodromos, Deputy Director General of the Undersecretary of Research, Innovation and Digital Policy on behalf of the President of the Republic, pointed to the rapid evolution of Cyprus’ national space ecosystem. Dr. Eric Smith, Director of Optical Detection and Exploitation at Lockheed Martin Space, emphasized the long-standing collaboration between the private and academic sectors, while Marios Tannousis, CEO of Invest Cyprus, reiterated the nation’s commitment to fostering a robust international space network.

A New Era In Space Research

As Cyprus embarks on this exciting journey toward launching its first homegrown satellite, the strategic initiatives and international partnerships being forged promise to elevate the country on the global stage. With expertise spanning government, industry, and academia, Cyprus is poised to become a significant hub for space research, innovation, and crisis management solutions in the Mediterranean region.

Bank of Cyprus Upgrade Signals Fresh Optimism For Greek And Cypriot Banks

Regional Banks Enter A More Favorable Cycle

Bank of Cyprus and Eurobank are well positioned to benefit from a renewed re-rating of Greek and Cypriot bank stocks, according to Cyprus-based investment firm Roemer Capital, which upgraded Bank of Cyprus to a buy rating and reaffirmed its positive view on Eurobank.

The firm cited easing geopolitical tensions, resilient economic growth in Greece and Cyprus, lower funding costs and Greece’s expected transition to developed-market status as the main factors supporting the sector.

Roemer Capital also lowered its cost of equity assumptions, updated its forecasts following first-quarter 2026 results and extended its valuation horizon to the end of 2027, raising target prices across its banking coverage.

Bank Of Cyprus Gets The Largest Upgrade

Bank of Cyprus received the biggest revision, with Roemer Capital upgrading the stock from hold to buy and setting a target price of €11.10, implying potential total upside of 27%.

The firm highlighted the bank’s strong capital generation, profitability and projected 100% dividend payout, describing it as the strongest capital-return story among the banks under coverage. Roemer Capital maintained its buy rating on Eurobank, assigning a target price of €4.90 and forecasting potential upside of 28%. The report said the bank is well placed to benefit from loan growth, improving operating performance and merger-and-acquisition synergies.

National Bank of Greece and Piraeus Bank also retained buy ratings, with expected returns ranging from 25% to 36%. Optima Bank was upgraded to buy, while Alpha Bank remained at hold on valuation grounds.

Why Growth Still Sets The Region Apart

According to Roemer Capital, Greek and Cypriot banks continue to benefit from stronger economic fundamentals than many western European peers. The report pointed to faster economic growth, healthier balance sheets, low levels of non-performing exposures, capital ratios approaching 20% and strong customer deposit bases.

Analysts expect performing loans across the sector to grow at a compound annual rate of 6% to 8% through 2028, supported by private investment, digitalisation, green manufacturing, supply-chain expansion and a gradual recovery in household lending.

The report also said the conclusion of lending under the EU Recovery and Resilience Facility is unlikely to materially affect credit growth, as banks have already shifted back towards traditional commercial lending. Roemer Capital expects Euribor to remain between 2.2% and 2.5%, a level it believes should support both lending activity and net interest margins.

Geopolitics, Valuation And Market Structure Support The Case

The report said improving geopolitical conditions have strengthened the investment outlook, noting that Brent crude prices have largely returned to pre-war levels while Greek government bond yields have stabilised at around 3.5%. Although geopolitical risks remain, Roemer Capital believes the likelihood of a major inflationary shock or significant pressure on bank profitability has eased.

Another important catalyst identified by the firm is Greece’s expected promotion to developed-market status by FTSE Russell, STOXX and MSCI over the coming months.

According to the report, the reclassification should improve liquidity and attract a broader base of international investors. Roemer Capital also said Euronext’s acquisition of the Athens Exchange is expected to strengthen market infrastructure and increase international visibility, particularly for Bank of Cyprus and Optima Bank.

The firm noted that Bank of Cyprus has already benefited from its Athens listing, with average daily trading value increasing from less than €400,000 before its September 2024 move to nearly €6 million afterwards.

Economic Momentum Remains A Core Tailwind

Roemer Capital said both Greece and Cyprus have moved beyond post-crisis recovery and are now supported by private-sector-led growth. For Cyprus, the report highlighted recent tax reform and efforts to simplify the legal and regulatory framework, while also noting that limited foreign banking competition continues to support domestic lenders.

Overall, Roemer Capital expects Greek and Cypriot banks to remain well-positioned for profitable loan growth over the coming years.

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