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Bank Of Cyprus Named Best Foreign Exchange Bank in Cyprus for 2025

by THEFUTURE.TEAM

March 11, 2025

The Bank of Cyprus has once again cemented its leadership in the financial sector, earning the title of Best Foreign Exchange Bank in Cyprus for 2025 by Global Finance’s prestigious Gordon Platt Foreign Exchange Awards. This recognition underscores the bank’s commitment to innovation, seamless digital banking solutions, and outstanding customer service.

A Digital-First Approach To FX Services

This accolade follows the successful rollout of eFX Convert, a cutting-edge digital currency exchange service launched in 2024. Designed to provide real-time exchange rates with no hidden fees, eFX Convert reflects the bank’s broader strategy of leveraging technology to enhance financial services. Customers can now convert currencies instantly through the Bank of Cyprus’ digital channels, ensuring efficiency, accuracy, and security in their transactions.

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The service allows real-time conversions in a wide range of currencies, eliminating additional commissions and providing extended trading hours—an offering unique among Cypriot banks. In addition, the bank’s Quick Accounts feature integrates live FX rates, enabling users to open USD or GBP accounts online and execute transactions at preferential rates without foreign exchange commission.

Recognition On The Global Stage

The award was presented at the Global Finance Foreign Exchange and Best SME Bank Awards Ceremony in London on 25 February, where leading financial institutions from around the world gathered to celebrate excellence in FX services. The selection criteria included transaction volume, market share, global reach, customer service quality, competitive pricing, and technological innovation.

The Growing Role Of FX In Corporate Strategy

The Bank of Cyprus’ recognition comes at a time when FX management is more critical than ever. With global trade facing heightened volatility due to geopolitical shifts, fluctuating interest rates, and emerging trade barriers, businesses are placing greater emphasis on sophisticated FX solutions. According to market analysts, FX trading volumes have surged post-pandemic, reaching daily records of over $7.5 trillion in 2024, with projections indicating continued growth.

To stay ahead, financial institutions are increasingly turning to AI-driven analytics, algorithmic trading, and automated FX hedging strategies. As a leader in Cyprus, the Bank of Cyprus is positioning itself at the forefront of these advancements, offering tailored FX solutions that help businesses mitigate risk and optimize international transactions.

About Global Finance

Founded in 1987, Global Finance is a leading authority in international financial analysis, with readers in 188 countries. Its awards set the benchmark for excellence in banking, investment, and financial services. The Gordon Platt Foreign Exchange Awards honors institutions that demonstrate superior expertise in the FX market, ensuring businesses and investors can confidently navigate the complexities of global currency exchange.

By securing this award, the Bank of Cyprus not only reaffirms its dominance in the Cypriot banking landscape but also solidifies its reputation as a forward-thinking financial institution ready to meet the evolving demands of modern FX markets.

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EU Moderates Emissions While Sustaining Economic Momentum

by THEFUTURE.TEAM

November 15, 2025

The European Union witnessed a modest decline in greenhouse gas emissions in the second quarter of 2025, as reported by Eurostat. Emissions across the EU registered at 772 million tonnes of CO₂-equivalents, marking a 0.4 percent reduction from 775 million tonnes in the same period of 2024. Concurrently, the EU’s gross domestic product rose by 1.3 percent, reinforcing the ongoing decoupling between economic growth and environmental impact.

Sector-By-Sector Performance

Within the broader statistics on emissions by economic activity, the energy sector—specifically electricity, gas, steam, and air conditioning supply—experienced the most significant drop, declining by 2.9 percent. In comparison, the manufacturing sector and transportation and storage both achieved a 0.4 percent reduction. However, household emissions bucked the trend, increasing by 1.0 percent over the same period.

National Highlights And Notable Exceptions

Among EU member states, 12 reported a reduction in emissions, while 14 saw increases, and Estonia’s figures remained static. Notably, Slovenia, the Netherlands, and Finland recorded the most pronounced declines at 8.6 percent, 5.9 percent, and 4.2 percent respectively. Of the 12 countries reducing emissions, three—Finland, Germany, and Luxembourg—also experienced a contraction in GDP growth.

Dual Achievement: Environmental And Economic Goals

In an encouraging development, nine member states, including Cyprus, managed to lower their emissions while maintaining economic expansion. This dual achievement—reducing environmental impact while fostering economic activity—is a trend that has increasingly influenced EU climate policies. Other nations that successfully balanced these outcomes include Austria, Denmark, France, Italy, the Netherlands, Romania, Slovenia, and Sweden.

Conclusion

As the EU continues to navigate its climate commitments, these quarterly insights underscore a gradual yet significant shift toward balancing emissions reductions with robust economic growth. The evolving landscape highlights the critical need for sustainable strategies that not only mitigate environmental risks but also invigorate economic resilience.