Robust Economic Performance In Cyprus Fueled By Services And Construction

by THEFUTURE.TEAM

April 20, 2026

Cyprus’ Economic Outlook Strengthens In 2025

Updated data from the Cyprus Statistical Service confirm solid economic growth throughout 2025. Revised quarterly and annual figures highlight continued expansion, supported by adjustments in government finance and balance of payments statistics.

Revised Quarterly Figures Validate Strong Growth

Latest national accounts, incorporating balanced supply and use tables for 2022, show that GDP in the fourth quarter increased by 4.5% compared with the same period in 2024 on a seasonally adjusted basis. These revisions reinforce the consistency of growth despite methodological updates.

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Key Sectors Driving Progress

Sectoral data based on the production approach indicate that growth was driven primarily by wholesale and retail trade, including motor vehicle repair, alongside information and communication, hotels and restaurants, and construction. Performance across these industries reflects strong domestic demand and continued momentum in services and infrastructure-related activity.

Annual Growth And Strategic Impacts

Revised annual figures confirm real GDP growth of 3.8% in 2025. When price effects are included, overall GDP increased by 4.9%, combining real expansion with inflationary pressures. Sector contributions highlight the structural role of services and construction in sustaining economic performance over the year.

Outlook

Recent data point to a balanced growth model supported by key service sectors and construction activity. This structure positions Cyprus to maintain economic momentum as global conditions continue to evolve.

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Google Cloud Outage Disrupts Banking And Digital Services Across The UK

by THEFUTURE.TEAM

October 20, 2026

A power outage at a Google Cloud data centre near London disrupted services across the UK on Tuesday, affecting banks, businesses and other digital platforms. Google said the incident was caused by a power event at its cloud operations, with full recovery expected by around 1300 GMT.

The disruption began at 0608 GMT and affected Google Cloud services in the europe-west2 region, which is hosted in London. In an initial update, the company reported elevated error rates and intermittent network failures across multiple services as engineers worked to restore operations.

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Banking Services Hit By The Disruption

Revolut was among the most visibly affected companies, with customers reporting problems with ATM withdrawals, bank transfers and card top-ups. A source close to the matter linked the issues to the Google Cloud outage.

Traditional banks also reported disruptions. Lloyds said some customers were experiencing problems with its app and online banking, while HSBC confirmed difficulties accessing its services. HSBC added that it was monitoring the situation and noted that other organisations were affected as well.

Disruption Spreads Beyond Finance

Downdetector, which tracks online service disruptions, recorded hundreds of reports involving other businesses, including property website Rightmove and the Royal Mail postal service. The reports suggested that the outage was affecting multiple parts of the UK’s digital economy.

The incident highlights the risks facing businesses that depend on shared cloud infrastructure. Even a temporary failure at a single provider can disrupt services across several sectors, from banking and payments to logistics and consumer platforms.

Companies Reassure Customers

Revolut said it had been working to resolve the issue since it was identified and apologised to affected customers. The company also confirmed that customers’ money and data remained safe.

As cloud platforms underpin an increasing share of digital commerce, the outage illustrates how disruptions to critical infrastructure can spread far beyond the provider itself, affecting businesses and customers across the economy.

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