UNIC placed in the 401-600 band worldwide, strengthened its position among universities in Cyprus and Greece, and recorded standout results in SDG 10, SDG 11 and SDG 17

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The University of Nicosia (UNIC) has earned another important international distinction in the Times Higher Education (THE) Sustainability Impact Ratings 2026, ranking in the 401-600 band globally among 1,646 universities from 116 countries and territories evaluated across 17 individual SDG tables and one overall ranking.

This result places UNIC in the global Top 600 and reinforces the University’s standing as one of the region’s most internationally engaged higher education institutions. Based on the published results, UNIC is one of the universities from Cyprus and Greece to secure a place within this band, underlining both its regional strength and its growing international visibility.

UNIC’s strongest performances in this year’s results were recorded in SDG 10: Reduced Inequalities, SDG 11: Sustainable Cities and Communities, and SDG 17: Partnerships for the Goals, where it ranked in the 101-200 band globally. It also achieved a 301-400 result in SDG 3: Good Health and Wellbeing and SDG 16: Peace, Justice and Strong Institutions.

Particularly significant was UNIC’s strong result in SDG 17: Partnerships for the Goals, an indicator that carries special weight in the overall methodology of the THE Sustainability Impact Ratings. This performance highlights the University’s growing capacity to build meaningful academic, research, and societal partnerships that create measurable impact at both local and international level.

Commenting on the result, the Rector of the University of Nicosia, Professor Philippos Pouyioutas, said:

“This is a highly significant result for the University of Nicosia and one that we are proud to share. Our placement in the global Top 600 of the THE Sustainability Impact Ratings 2026 reflects the University’s sustained commitment to meaningful impact through education, research, outreach, and collaboration. Our particularly strong performance in Reduced Inequalities, Sustainable Cities and Communities, and Partnerships for the Goals demonstrates the values that define UNIC as a modern, outward-looking university, committed to contributing in practical ways to society and to the global sustainability agenda.”

Among the universities from Cyprus, UNIC is one of the universities included in the global Top 600, while across Cyprus and Greece it stands among the universities recognised for strong performance in this year’s sustainability-focused results. This positioning adds further weight to UNIC’s profile as a university that combines academic quality with social contribution and international engagement.

For the University of Nicosia, this latest recognition marks another important step in its continuing international development, highlighting the strength of its academic environment, the breadth of its partnerships, and the increasing impact of its contribution to sustainable progress.

Strategic Validation For A Dual-Use Cybersecurity Platform

Malloc Ltd, an AI-driven mobile cybersecurity company specialising in spyware protection and secure communications, has been selected for Cohort #3 of the European Defence Innovation Scheme (EUDIS) Business Accelerator.

The Nicosia-based company was one of 20 startups chosen from a record 499 applications submitted across the European Union and Norway.

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An Accelerator Built For Defense-Grade Innovation

Launched by the European Commission and the European Defence Agency, the EUDIS Business Accelerator helps companies developing defence and dual-use technologies scale their products for the European market.

The eight-month programme begins in September 2026 and offers tailored business coaching, mentorship from defence specialists, access to testing facilities and participation in five regional bootcamps across Europe. It also provides opportunities to connect with defence organisations, end users and investors.

Why The Selection Matters

Malloc develops AI-powered mobile cybersecurity technology that detects and blocks spyware, prevents unauthorised surveillance, and secures communications through on-device machine learning.

The company’s selection reflects growing demand for technologies that protect mobile devices, which are increasingly viewed as critical infrastructure in both commercial and defence environments.

Leadership Perspective

“Securing a spot in Cohort #3 out of nearly 500 applicants is a powerful validation of Malloc’s core technology,” said Maria Terzi, CEO of Malloc.

“Advanced spyware blocking and completely secure mobile communications are no longer just corporate necessities. They are critical requirements for modern defence infrastructure. Through the EUDIS framework, we look forward to adapting our AI-driven privacy solutions to meet the rigorous demands of the European defence ecosystem and contributing to a safer, more resilient Europe.”

About Malloc Ltd

Malloc Ltd is an AI-driven mobile cybersecurity company specializing in spyware blocking and secure communications. Using proprietary on-device machine learning models, the company monitors mobile environments to detect and block unauthorized surveillance, prevent spyware execution, and encrypt communication channels in real time. Malloc serves individual users and enterprises globally, helping protect data and secure sensitive mobile intelligence.

About The Eudis Business Accelerator

The European Defence Innovation Scheme (EUDIS) Business Accelerator is a flagship initiative supported by the European Defence Fund (EDF). Delivered in partnership with Europe’s defense innovation ecosystem and industrial players such as Starburst Aero, the program is intended to close the gap between commercial technology developers and European defense requirements. Each cohort supports up to 20 high-potential companies with funding, mentorship, and market access.

Learn more at www.eudis-business-accelerator.eu.

Cyprus recorded a current account deficit of €1.3 billion in the first quarter of 2026, according to Eurostat, as a smaller services surplus weighed on the country’s external balance.

The figures, which are neither calendar nor seasonally adjusted, show the deficit widened from €1.0 billion in the first quarter of 2025.

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A Softer Services Position

Services remained the main contributor to Cyprus’ external accounts, although the surplus narrowed to €1.2 billion in the first quarter from €1.5 billion a year earlier. Throughout 2025, the services balance stood at €2.3 billion in the second quarter, €2.9 billion in the third and €2.5 billion in the fourth.

Cyprus’ current account remained in deficit throughout last year, recording shortfalls of €0.4 billion in the second quarter, €0.1 billion in the third and €0.8 billion in the fourth before widening again at the start of 2026.

European Union Posts Wider Surplus

Across the European Union, the seasonally adjusted current account surplus increased to €113.4 billion, or 2.4% of GDP, in the first quarter of 2026, up from €99.2 billion in the previous quarter and €104.9 billion a year earlier.

The improvement came despite a narrower goods surplus, which fell to €66.7 billion from €89.0 billion, while the services surplus increased to €52.1 billion from €43.9 billion.

Member State Divergence Remains Wide

Based on non-seasonally adjusted data, 16 EU member states recorded current account surpluses in the first quarter, while 10 posted deficits. France did not report data.

Germany recorded the largest surplus at €61.8 billion, followed by the Netherlands (€26.3 billion) and Ireland (€17.4 billion).

Among deficit countries, Greece posted the largest shortfall at €6.6 billion, ahead of Romania (€5.3 billion), Croatia (€3.4 billion) and Bulgaria (€2.4 billion). Cyprus also remained in deficit, at €1.3 billion.

Aegean Airlines has resumed flights to and from Paphos International Airport, a move welcomed by the Paphos Regional Tourism Board (Etap) as a boost to the district’s connectivity and tourism sector.

Improving Access To Paphos And Beyond

In a statement issued on Monday, Etap said the airline’s return marks an important step in improving access to Paphos from Greece while strengthening international connections through Aegean’s hub in Athens.

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The Athens–Paphos route will operate three times a week, offering residents and visitors greater travel flexibility and expanding access to the district.

Athens Hub Strengthens International Links

According to the tourism board, the restored service will improve connections with key tourism markets, including Germany, the Scandinavian countries and other European destinations served through Athens.

Improved air connectivity is expected to strengthen Paphos’ appeal by making the region more accessible to international travellers and enhancing its competitiveness among Mediterranean destinations.

Call For Deeper Partnership

Etap described Aegean’s return as a positive development for the local tourism industry and expressed hope that the airline will continue expanding its presence at Paphos International Airport.

“The Paphos Regional Tourism Board warmly welcomes Aegean to Paphos and expresses the hope that, in the near future, the airline will further expand its presence at Paphos International Airport, strengthening the connectivity and prospects of the region,” the board said.

The organisation also said it and its member stakeholders are ready to work with the airline on joint initiatives to support the airline’s long-term growth in Paphos.

Cyprus has moved to reassure businesses, travelers and policymakers that its air connectivity will not be undermined by the European Union’s planned revision of state aid rules for aviation, insisting that its current airline incentive schemes are structured on market terms and therefore fall outside the scope of state aid.

Cyprus Sets Out Its Position In Brussels

The Transport Ministry said on Sunday that the Republic of Cyprus has already submitted a detailed position to the European Commission as part of the ongoing public consultation on the revision of the European Guidelines on State Aid to Aviation. The submission includes six recommendations designed to safeguard the connectivity needs of island member states.

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“Cyprus’ air connectivity remains strong,” the ministry said, adding that the government is acting in a timely and documented manner to ensure the updated European framework reflects the realities of an island state with no road or rail links to the rest of Europe.

Incentives Described As Market-Based

The ministry clarified that the incentives offered in cooperation with airport operator Hermes Airports to airlines are not state aid. According to the government, they are granted on commercial terms, create additional revenue for both the state and the operator, and amount to an investment a private investor would also make under the same conditions.

On that basis, officials said the European review does not threaten the existing mechanisms that have supported the steady improvement of Cyprus’ air connectivity in recent years.

A Strategic Issue For An Island Economy

The Commission’s review is intended to update aviation state aid rules in light of sector-wide changes, including tighter environmental requirements and shifts in the European aviation market. The consultation covers the conditions under which member states may support airports and new air routes.

For Cyprus, however, the ministry said the issue is more than technical. As an island member state, air connectivity is a core piece of national infrastructure, underpinning tourism, commerce, mobility and broader economic growth.

Six Recommendations To Protect Connectivity

The government’s first request is for Cyprus’ airports to be more clearly treated as territorial cohesion infrastructure. While the European Commission already recognizes Cyprus as a remote area, Nicosia wants that status reflected more explicitly in the new rules so that Larnaca and Paphos airports can receive state support where there is a genuine need.

Cyprus is also urging Brussels to retain targeted incentives for new routes to island states, particularly winter routes and links to emerging tourism markets. The ministry said such measures would increase off-season traffic, broaden tourism flows and reduce dependence on a limited number of source markets.

A third proposal focuses on fairness for smaller member states. The ministry argued that an airport handling nine million passengers in a country of 900,000 people should not be assessed on the same basis as a major airport serving a large European city. Cyprus has therefore proposed a passengers-per-inhabitant criterion.

The government is also seeking to extend the transitional aid period for island states until 2035, giving airports more time to adapt to green requirements, including sustainable aviation fuels and electrification.

In a fifth recommendation, Cyprus wants an explicit exemption from artificial proximity tests involving airports in other countries. Officials said such assessments make little sense for Cyprus, which has no road or rail connection to another EU member state. An exemption, they argued, would reduce bureaucracy and speed up decisions on support requests at the European level.

The sixth recommendation concerns the facilitation of ticket subsidies for students, workers and professionals traveling between Cyprus and the rest of Europe.

Connectivity As A National Necessity

“Air links are not a luxury for Cyprus, but the functional equivalent of the road and rail networks that connect other member states with Europe,” the ministry said.

It added that Cyprus submitted its position before the public consultation deadline of June 11, 2026, with the goal of securing a modern, fair and proportionate European framework that protects the country’s connectivity and reflects the practical needs of island states.

Cyprus’ wholesale and retail trade sector recorded broad-based growth in 2024, with turnover, production value, value added and employment all increasing compared with the previous year, according to figures released by the Statistical Service of Cyprus (Cystat).

Turnover Strengthens Across The Sector

Total turnover in the trade sector rose 5.0% year on year to €20.30 billion in 2024, up from €19.34 billion in 2023.

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The strongest growth was recorded in wholesale and retail trade and the repair of motor vehicles and motorcycles, where turnover increased 8.6% to €1.66 billion. Wholesale trade generated €10.24 billion in turnover, up 4.2% from a year earlier, while retail trade rose 5.3% to €8.41 billion.

Production Value And Added Value Rise

Production value increased 6.3% to €5.75 billion in 2024, while value added at current prices also climbed 6.3%, reaching €3.63 billion compared with €3.42 billion in 2023.

Across the sector’s main divisions, value added in wholesale and retail trade and the repair of motor vehicles and motorcycles rose 9.3% to €343.4 million. Wholesale trade recorded a 3.8% increase to €1.81 billion, while retail trade posted an 8.9% rise to €1.48 billion.

Employment Continues To Grow

Employment also expanded during the year, rising 1.0% to 78,300 people from 77,500 in 2023.

Retail trade remained the largest employer, with 41,500 people working in the sector. Wholesale trade accounted for 27,000 jobs, while wholesale and retail trade and the repair of motor vehicles and motorcycles employed a further 9,800 people.

Cyprus’ construction sector posted modest growth at the start of 2026, while construction costs continued to rise at a faster pace, according to figures released by the Statistical Service of Cyprus (Cystat).

Production Growth Remains Tepid

The Index of Production in Construction, based on 2021 as the reference year, reached 120.74 points in the first quarter of 2026, up 0.7% compared with the same period a year earlier.

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The data indicate that construction activity continued to expand during the quarter, albeit at a moderate pace.

Output Prices Continue To Advance

Price pressures remained stronger than output growth. The Output Prices Index in Construction rose to 129.46 points in the first quarter, increasing 3.0% from the previous quarter and 4.7% year on year.

The figures suggest that construction costs continued to rise despite relatively modest gains in overall production.

Activity And Costs Continue To Diverge

Taken together, the latest Cystat data point to a sector where prices are increasing more quickly than construction activity. While output continued to grow in early 2026, the pace remained considerably slower than the rise in construction prices.

Cyprus’ Chief Scientist, Demetris Skourides, has been ranked among the world’s leading LinkedIn creators in GovTech and the public sector, a recognition he says reflects Cyprus’ growing presence in global conversations on research, innovation and digital transformation.

A Ranking That Points Beyond Personal Reach

According to a post on his LinkedIn account, Skourides ranked 25th globally among the Top 200 LinkedIn creators in GovTech and the public sector. He also placed first in Cyprus in the category and seventh overall on LinkedIn in the country.

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The ranking, which included a Favikon score of 87.3, measures professional influence and visibility on the platform.

Cyprus As The Larger Story

Skourides described the recognition as part of a broader effort to raise Cyprus’ international profile rather than a personal achievement.

“Cyprus is small. Its ambition is not,” he wrote, adding that the recognition belongs to everyone helping position the country as a hub for research, innovation and digital transformation.

His comments reflect Cyprus’ broader strategy to strengthen its reputation as a regional centre for technology, entrepreneurship and digital government.

A National Strategy Built Around Innovation

Appointed Chief Scientist for Research, Innovation and Technology in September 2023 by President Nikos Christodoulides, Skourides is responsible for supporting policies that strengthen research, innovation, technological development and entrepreneurship. He also chairs the board of the Research and Innovation Foundation (RIF).

The government’s Research and Innovation Strategy 2024–2026 places innovation at the centre of economic competitiveness and public-sector modernisation.

Recent indicators suggest progress. According to the Research and Innovation Foundation, Cyprus climbed to 34th place in the StartupBlink Global Startup Ecosystem Index 2026, rising six positions year on year. The country’s startup ecosystem grew by 62.7% and was valued at $4.2 billion, while Limassol entered the global top 200 startup cities ranking for the first time, placing 191st.

Progress Remains Uneven

Despite those gains, challenges remain. The European Commission’s 2026 Digital Decade Country Report found that AI adoption among Cypriot businesses is still relatively low, although it noted that initiatives such as the National AI Strategy and the Pharos-CY AI Factory Antenna could accelerate adoption.

Communication As A Leadership Tool

Skourides argued that visibility is increasingly tied to credibility, partnerships and investment, particularly in fields such as artificial intelligence and GovTech.

“Technology is not the destination,” he wrote. “People are.”

He added that innovation only creates value when it improves people’s lives and that digital transformation succeeds only when citizens experience tangible benefits. In his view, communication has become an essential part of public leadership because people are more willing to embrace change when they understand it.

A Wider Cyprus Story

Skourides dedicated the recognition to Cyprus’ wider innovation ecosystem, thanking researchers, entrepreneurs, educators, public servants, businesses and policymakers for helping strengthen the country’s international profile.

“The future will not wait,” he said. “Neither,” Skourides added, “should Cyprus.”

Gas And Renewables Continue To Expand

Europe’s energy transition continued to gather pace in 2025, with natural gas and renewable energy both recording growth while coal and petroleum products extended their long-term decline, according to preliminary Eurostat figures.

Natural gas supply rose 2.3% from 2024 to around 13.1 million terajoules, marking a second consecutive year of growth after a sharp contraction in 2023. Renewable energy supply also increased, climbing 1.4% to 11.5 million terajoules despite a significant drop in hydropower generation. Nuclear energy remained broadly stable, with supply edging up 0.2% to 650,648 gigawatt-hours.

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Coal And Oil Continue Their Long Decline

Coal continued to lose ground across the EU, falling to its lowest level since records began in 1990. Brown coal supply declined 7.7% to 184,741 thousand tonnes, while hard coal fell 3.2% to 107,072 thousand tonnes. Petroleum products also remained on a downward path, with supply decreasing 2.8% year on year to 448,656 thousand tonnes, reinforcing the bloc’s gradual shift away from carbon-intensive fuels.

Renewables Remain The Leading Electricity Source

Renewables continued to dominate electricity generation, accounting for 47.2% of total EU output in 2025, although their share slipped by 0.5 percentage points from the previous year. Fossil fuels represented 29.6% of electricity generation after increasing by 3.2%, while nuclear energy accounted for the remaining 23.2%.

Within the renewable mix, wind remained the largest source, contributing 37.5% of renewable electricity, followed by solar at 27.5% and hydropower at 25.9%. Solar posted the fastest growth, with output surging 24.6%, highlighting its expanding role in Europe’s clean energy transition. Hydropower, meanwhile, fell 11.8%, reflecting the impact of weaker rainfall and lower reservoir levels.

Wide National Gaps Remain Across The Bloc

Significant differences persist among member states. Denmark generated 92.4% of its electricity from renewable sources in 2025, ahead of Austria (83.1%) and Portugal (82.9%).

Cyprus remained among the bloc’s weakest performers, with renewables accounting for 19.2% of electricity generation, well below the EU average of 47.3%. Malta (16.2%), the Czech Republic (16.6%) and Slovakia (17.8%) also ranked near the bottom.

The figures highlight the uneven pace of Europe’s energy transition, with progress continuing across the bloc but varying widely depending on national energy policies, grid capacity and available natural resources.

Homeownership has long been one of the foundations of financial security and social stability in Cyprus. For many households, buying a home is more than a financial transaction; it is a long-term investment and an important milestone.

Rising living costs, fluctuating interest rates and more complex lending procedures have made the journey to homeownership increasingly challenging. In response, Bank of Cyprus is expanding its digital mortgage services to make the application process faster, more transparent and easier to navigate.

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A Digital Approach To A Traditional Goal

The bank’s Your Home Hub platform brings together mortgage information, repayment calculators and digital services in one place, helping prospective buyers estimate monthly payments, compare financing options and better understand each stage of the process.

Customers can also submit Digital Housing Loan applications through Internet Banking or the Mobile App for First Home, Green Home and Holiday Home mortgages. In many cases, applications receive a response within 24 hours.

Digital tools are complemented by personalised support, with customers able to book appointments with specialised mortgage advisers whenever additional guidance is needed.

What Your Home Hub Provides

Designed as a practical planning tool, Your Home Hub offers:

• Loan repayment calculators
• Information on purchase-related costs
• Guidance on required documentation
• Updates throughout the application process
• Information on mortgages, insurance and related services
• Direct access to the Digital Housing Loan application

The platform aims to help buyers make more informed financial decisions before taking on a mortgage, supporting both responsible borrowing and long-term financial stability.

Choosing The Right Mortgage

Selecting a mortgage is one of the most important financial decisions a buyer will make. Rather than focusing solely on interest rates, borrowers should choose a loan that best matches their financial circumstances and long-term plans.

Bank of Cyprus offers financing for first homes, holiday homes, land purchases, renovations and investment properties, including Green Home mortgages with more favourable terms for energy-efficient properties.

Start With A Clear Assessment

Before applying, prospective buyers should assess three key factors:

• Net monthly household income
• Available down payment
• Ability to comfortably manage a long-term financial commitment

Establishing a realistic budget remains the most effective way to avoid financial pressure later.

Understand The Main Mortgage Types

Borrowers can generally choose between fixed and variable interest rates.

A fixed-rate mortgage provides stable monthly repayments over an agreed period or for the life of the loan, making budgeting easier. A variable-rate mortgage moves with market conditions, offering the potential for lower repayments but also exposing borrowers to future rate increases.

What Should Shape The Decision

When comparing mortgage options, buyers should consider:

• Whether monthly repayments leave enough room for everyday expenses, savings and unexpected costs.
• The repayment period, as longer terms reduce monthly instalments but increase the total interest paid.
• Their ability to absorb potential interest-rate increases when choosing a variable-rate mortgage.
• Additional benefits, including preferential Green Home rates and discounts available through the bank’s pronomia Loyalty Scheme, subject to terms and conditions.

Compare Beyond The Interest Rate

Interest rates are only one part of the equation. Buyers should also compare the annual percentage rate (APR), loan term, fees, repayment flexibility and additional benefits, such as loyalty discounts or reward programmes.

Before making a decision, it is worth considering plans, including family needs, career changes and long-term financial goals. Speaking with a specialised adviser can also help identify the most suitable financing option.

Loan Solutions At A Glance

Bank of Cyprus offers mortgage solutions tailored to different homeownership needs:

First Home Mortgage

• Up to 80% financing
• Repayment period of up to 35 years
• Fixed and variable interest-rate options
• No arrangement or documentation fees

Green Mortgage

• Up to 80% financing for a first home and up to 70% for a holiday home
• Repayment period of up to 35 years
• Variable-rate discount of up to 0.20%
• No arrangement or documentation fees
• Designed for energy-efficient properties

Holiday Home Mortgage

• Up to 70% financing
• Repayment period of up to 35 years
• Flexible interest-rate and repayment options

Renovation And Energy Upgrade Loans

Available for renovations and energy-efficiency improvements, including insulation, photovoltaic systems, heating and cooling upgrades.

• Up to 80% financing for a first home and up to 70% for a holiday home
• Repayment period of up to 35 years
• Flexible interest-rate and repayment options

Investment Mortgage

• Up to 60% financing
• Maximum repayment period of 20 years
• Repayment structure based on expected rental income

Financing Beyond The Mortgage

Moving into a new home often brings additional costs, from furniture and appliances to everyday household expenses.

To help cover these needs, Bank of Cyprus offers QuickLoans from €500 to €15,000 with no arrangement or documentation fees. Applications can be completed online without guarantees, while digital signatures further simplify the process where applicable.

Customers planning to purchase a vehicle can also apply digitally for QuickCar Loans ranging from €2,500 to €50,000 for new or green cars, subject to eligibility criteria and applicable terms.

Why Home Insurance Matters

Financing is only one part of homeownership. Protecting the property is equally important, helping households prepare for unexpected events that could affect both the home and family finances.

Genikes Insurance offers a range of home insurance plans, from basic cover for fire, lightning and explosion to more comprehensive protection that includes earthquakes, storms, floods, water damage, malicious acts and third-party liability.

Additional benefits may include replacement-value compensation, temporary accommodation, loss-of-rent cover and 24-hour emergency assistance.

A Partner For The Full Homeownership Journey

Buying a home is a long-term financial commitment that requires careful planning as well as access to the right financing and protection.

Through its Book an Appointment service, Bank of Cyprus connects customers with specialised advisers who can help identify the most suitable combination of mortgage and insurance solutions. Together with Your Home Hub, the service is designed to make every stage of the home-buying process more transparent and easier to manage.