yprus is revising the framework for companies with foreign interests, introducing stricter compliance checks and new requirements designed to attract businesses that make a substantive contribution to the economy.

The Cabinet approved the changes on Tuesday following a proposal from the Ministry of Energy, Commerce and Industry. In a post on X, Energy Minister Michalis Damianos said the revised framework aims to attract companies with a genuine presence in Cyprus and the potential to create added value.

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Greater Focus On Real Economic Activity

The revised framework prioritises companies’ actual economic activity, regardless of the origin of their capital. As part of the changes, the existing register will be renamed the “Business Facilitation Centre Register”.

The new rules also strengthen compliance monitoring and establish procedures for removing companies that fail to meet their obligations. Checks on the 70%–30% employment ratio will be conducted seven years after registration.

Annual Employment Reporting From 2027

From January 1, 2027, registered companies will be required to submit annual employment reports. The measure is intended to improve transparency and help authorities monitor compliance with the framework.

The revisions also clarify the conditions under which companies may retain their registration if their ultimate beneficial owners obtain Cypriot or other EU citizenship.

Part Of A Wider Business And Talent Strategy

According to Damianos, the changes aim to attract companies with a substantive presence, growth potential and a measurable contribution to Cyprus’s economy. The framework introduces clearer procedures and oversight while reinforcing existing obligations.

The decision forms part of a broader review of Cyprus’s Strategy for Attracting Businesses and Talent, which is expected to be completed by December 2026.

The first consultation workshop with the business community and other stakeholders took place on October 28, with a second scheduled for October 29.

Minthis is investing €6 million in its golf course and clubhouse in Paphos, with upgrades aimed at improving playing conditions, optimising water use and enhancing facilities for members and visitors.

The programme includes a redesigned irrigation system, extensive bunker renovations and improvements to the clubhouse. The investment marks another stage in the resort’s development, with a focus on modernising its golf offering while preserving its natural setting and heritage.

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New Irrigation System To Improve Water Efficiency

A redesigned irrigation system, developed by Irritech and installed by Pro Golf Group, is central to the investment. It is designed to provide comprehensive course coverage while giving the agronomy team greater precision and control over water application.

The system is expected to reduce irrigation time and minimise disruption to play, helping maintain healthier turf and more consistent playing conditions.

The installation incorporates Toro technology, including Infinity sprinklers, which allow water to be distributed according to the needs of different areas. A Grundfos acid injection system will also provide greater control over irrigation-water pH, supporting suitable conditions for turf growth.

Together, these technologies are intended to improve irrigation efficiency and consistency while strengthening the resort’s approach to water management.

Bunker Renovations And Clubhouse Upgrades

Minthis is also renovating its bunkers using a modern capillary concrete liner system. The technology is designed to improve drainage, stability and consistency, helping bunkers perform more reliably throughout the year.

Improvements to the Minthis Clubhouse are scheduled to begin in January 2027, with the main phase expected to continue through June. Plans include a new Sports Bar, restaurant upgrades, an expanded Pro Shop with a stronger retail presence and a new Caddy Master area.

The changes aim to create a more welcoming environment and extend the visitor experience beyond the golf course.

Investment Supports Wider Resort Strategy

The programme follows the introduction of TrackMan Range earlier in 2026, which expanded the resort’s practice and training facilities. Together, the projects form part of Minthis’s broader strategy to develop its golf and lifestyle offering.

“This investment represents an important milestone in the continued evolution of Minthis,” said Demetris Ashiotis, managing director of Minthis. “We are investing not only in the visible elements of the golf experience, but also in the infrastructure and technology that support the course for the long term.”

Ashiotis added that the aim was to raise the resort’s standards while preserving the qualities that define it.

“Our goal is to continually raise the standard of Minthis while remaining true to the character, heritage and natural setting that make the resort so unique,” he said.

The company expects the combination of irrigation technology, improved water management, upgraded bunkers and enhanced clubhouse facilities to deliver a more contemporary golf experience while supporting the course’s long-term quality and sustainability.

Cyprus and China are seeking to deepen trade and investment ties, with opportunities in tourism, shipping, renewable energy, technology and financial services discussed at a bilateral business forum in Nicosia on Tuesday.

The China-Cyprus Subnational Exchange and Cooperation Forum and Business Forum brought together business leaders, local officials and institutional representatives from both countries. The event was organised by the Cyprus Chamber of Commerce and Industry (Keve), the Chinese embassy and the Cyprus-China Business Association.

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Turning Strategic Ties Into Business Opportunities

Keve secretary general Philokypros Roussounides said the relationship between the two countries provided a strong foundation for closer economic cooperation. The priority, he noted, was to translate their strategic partnership into practical initiatives that deliver measurable benefits for businesses and both economies.

China’s strengths in technology, innovation and manufacturing offer opportunities for Cypriot companies, while Cyprus can provide Chinese investors with access to the EU market. Its geographic position, skilled workforce, business environment and professional services sector were highlighted as key advantages.

Roussounides also stressed the importance of cooperation between local authorities, institutions and business organisations in developing lasting commercial partnerships. Keve intends to continue facilitating trade, investment and connections between the two business communities.

Tourism Agreement Signals Potential For Cooperation

Tourism emerged as one area for more direct collaboration, with a planned cooperation agreement between Cypriot company Top Kinisis and Zhejiang Overseas (Ningbo) International Travel Service Co. Ltd. highlighting the potential for closer commercial ties.

Discussions also covered shipping, education, financial services, renewable energy and smart-city development. Other areas included modern urban planning, knowledge-sharing between local authorities, innovation, Centres of Excellence and cultural heritage preservation.

Cities And Businesses Identify Areas For Collaboration

Chinese ambassador to Cyprus Yang Yundong called for more practical cooperation through sister-city partnerships, tourism, innovation and emerging technologies. He also presented Cyprus as a potential link between China and the European Union, helping businesses explore opportunities in both markets.

Representatives from Chinese cities outlined possible areas for collaboration, including renewable energy, electric mobility, digital innovation, manufacturing, agriculture, transport and logistics. They highlighted the role of stronger relationships between local and regional authorities in advancing these initiatives.

Cypriot representatives, including Union of Cyprus Municipalities president and Larnaca mayor Andreas Vyras, Nicosia mayor Charalambos Prountzos, Invest Cyprus chief executive Marios Tannousis and Amathounta deputy mayor Marinos Kyriacou, highlighted the island’s investment potential and the benefits of cooperation across business, government and education.

Kyriakos Iordanou, permanent secretary at the Ministry of Energy, Commerce and Industry, stressed the importance of bilateral trade and Cyprus’ role as a gateway to the EU. Cyprus-China Business Association president Theo Parperis also pointed to opportunities to expand commercial relations by making better use of the island’s strategic location.

Business Meetings Aim To Deliver Results

The forum concluded with business-to-business meetings designed to help Cypriot and Chinese companies establish direct contacts and explore trade and investment agreements. The programme also included the scheduled signing of the tourism cooperation agreement between Top Kinisis and Zhejiang Overseas (Ningbo) International Travel Service Co. Ltd.

The event forms part of broader efforts to expand the international reach of Cypriot businesses and strengthen economic relations with China. Its longer-term impact will depend on whether the discussions lead to concrete agreements and sustained commercial partnerships.

Apple’s first touchscreen MacBook Pro starts at $2,899, but the price rises to $14,549 for the most expensive 16-inch configuration. The new lineup combines a move towards touch input with high-end hardware options that can add thousands of dollars to the final bill.

According to MacRumors, Apple’s online store lists the fully upgraded 14-inch model at $14,249 and the 16-inch version at $14,549.

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Storage And Memory Account For Much Of The Cost

Both top-tier configurations feature Apple’s M5 Max chip, with an 18-core CPU and a 40-core GPU. Storage and memory upgrades account for a substantial part of the price difference.

Upgrading to a 4TB SSD costs an additional $1,000, while an 8TB drive adds $3,000. Apple’s new 16TB option costs another $7,000. Buyers can spend a further $2,000 for 128GB of memory, while nano-texture glass adds $150.

The pricing comes amid pressure on memory supplies and growing demand for hardware capable of handling artificial intelligence workloads. These market conditions may help explain the higher costs, although the fully upgraded models remain well beyond the budgets of most consumers.

A $4,400 Increase Over The Previous Generation

The maximum price represents a significant jump from the previous generation. The most expensive 16-inch MacBook Pro previously cost $10,149, meaning the new model’s ceiling is $4,400 higher.

For professionals working with demanding graphics, large datasets or memory-intensive applications, the expanded specifications may be valuable. However, the additional capabilities will need to justify the premium, particularly for buyers who do not require the highest available memory and storage capacities.

Apple Brings Touchscreens To The MacBook Pro

Beyond the price, the launch marks a notable change in Apple’s approach to the Mac. Nearly a decade after introducing the Touch Bar, the company is moving to a full touchscreen display. The Touch Bar was later discontinued, making the new model a broader shift towards touch-based interaction on the Mac.

Preorders open on October 30, with availability starting on November 6. Customers can compare configurations and upgrades through the Apple Store.

Euro area businesses faced higher borrowing costs and tighter access to bank loans in the third quarter of 2026, while concerns about the economic outlook continued to limit their ability to secure external financing. The findings come from the European Central Bank’s (ECB) latest Survey on the Access to Finance of Enterprises.

Companies reported rising interest rates, stricter collateral requirements and expectations that external financing would become less available over the following three months. However, reported demand for bank loans declined, leaving the financing gap indicator slightly lower than in the previous survey round.

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Borrowing Costs And Collateral Requirements Rise

A net 46% of firms reported higher bank loan interest rates, up from 42% in the second quarter. Large companies were particularly affected, with the net share rising to 55% from 41%.

Among small and medium-sized enterprises (SMEs), the share reporting higher interest rates fell to 38% from 43%.

Other financing costs, including bank charges, fees and commissions, also increased, although less widely than in the previous quarter. A net 27% of firms reported higher costs, down from 31%.

Collateral requirements tightened as well, with a net 14% of businesses saying banks had demanded more security, compared with 10% in the previous survey round.

Bank Loan Availability Deteriorates

A net 5% of firms reported that bank loan availability had declined, compared with 1% in the previous quarter. Both SMEs and large companies experienced tighter conditions.

Among SMEs, a net 5% reported reduced availability, up from 4% in the second quarter. For large firms, the balance shifted to 6%, reversing the previous quarter’s net 4% that had reported improved access to loans.

At the same time, demand for bank loans weakened. A net 2% of firms reported a decrease in financing needs, compared with a net 2% increase in the previous quarter. Among SMEs, the balance stood at -1%, while large companies recorded a net 6% decline, reversing the previous quarter’s net 3% increase.

The bank loan financing gap indicator stood at a net 2%, down from 3% in the previous survey round. It measures changes in loan demand relative to availability, with a positive reading indicating that access to credit is deteriorating compared with firms’ financing needs.

Economic Uncertainty Limits Access To Finance

The general economic outlook remained the main factor restricting businesses’ access to external finance. A net 31% of firms said it had a negative impact, up from 29% in the previous survey round.

Large companies were more pessimistic than SMEs: net shares of 35% and 29%, respectively, reported that economic conditions were limiting their access to finance.

Companies’ own business prospects, measured through sales and profits, also continued to weigh on financing conditions. However, the net share reporting a negative impact eased slightly to 9% from 10%.

By contrast, firms’ capital positions and creditworthiness continued to support their access to external financing.

Sample Changes Affect Inflation Expectations

The ECB cautioned that substantial changes to the survey sample make some results harder to compare with earlier rounds, particularly those concerning expected selling prices, input costs and inflation. First-time respondents accounted for the majority of businesses surveyed.

Among firms that participated in both the latest and previous rounds, expectations for selling prices increased only modestly. The rise was more pronounced across the full sample.

Inflation expectations showed a similar pattern. Median expectations remained broadly unchanged among repeat respondents but increased significantly when all respondents were included. Firms’ assessment of risks surrounding their five-year inflation outlook remained broadly stable.

Survey Findings And Business Implications

The 40th round of the ECB’s Survey on the Access to Finance of Enterprises was conducted from 26 August to 2 October 2026 and covered 12,822 businesses. Of these, 11,917, or 93%, had fewer than 250 employees.

Around half of respondents assessed financing conditions and other developments between July and September, while the remainder considered the longer period from April to September. The survey also examined businesses’ expectations for euro area inflation, selling prices and other costs.

The results point to continued pressure on companies seeking bank finance, driven by higher borrowing costs, stricter lending conditions and uncertainty about the economic outlook. Although reported demand for loans declined, the availability of credit weakened relative to firms’ needs, highlighting the challenges businesses face in financing their activities.

Cyprus’s economy grew by 3.3% year on year in the second quarter of 2026, accelerating from 3.0% in the previous quarter. Private consumption and investment were the main drivers, giving Cyprus the euro area’s fourth-fastest growth rate, according to Eurobank Research.

The expansion came despite a more challenging international environment following the outbreak of the US-Iran war. Early indicators point to continued momentum in the third quarter, although renewed inflation, weaker tourist arrivals and geopolitical uncertainty pose risks to the outlook.

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Investment And Consumer Spending Drive Growth

Private consumption increased by 5.4% year on year, while gross fixed capital formation rose by 9.4%. The investment surge was largely driven by a 151.9% increase in transport equipment, while residential investment grew by a more moderate 4.3%.

Household spending continued to benefit from a resilient labour market. Unemployment stood at 3.6% in the second quarter, close to the lowest levels recorded for this period of the year. Hourly wages rose by 3.9%, marking their strongest increase in five quarters, while consumer credit expanded by 12.0% year on year.

Public consumption also supported growth, rising by 4.5%. Exports increased by 9.6%, largely due to services, but imports grew faster at 12.9%, reflecting increased purchases of transport equipment. As a result, the external surplus narrowed by 45.1%, and net exports detracted from GDP growth.

Stronger activity in wholesale and retail trade, information and communications technology, financial and insurance services, and construction also contributed to the acceleration.

Property Market Signals Continued Investment

Early third-quarter data suggest that investment activity has remained strong despite geopolitical tensions in the Persian Gulf. Property sales rose by 10.7% year on year in July and August, bringing growth for the first eight months of 2026 to 13.7%. The market is on course for a new annual record.

Residential property prices increased by 8.5% year on year in the second quarter, taking the relevant index to a new high. Non-resident buyers accounted for 59% of the increase in property sales between January and August.

Construction activity is also expected to remain robust. The total area covered by building permits rose by 43.1% year on year between January and May. Investment in transport equipment and intellectual property products is expected to provide further support to fixed capital formation during the rest of 2026, partly reflecting favourable base effects.

Tourism Holds Up Despite Geopolitical Uncertainty

Tourism has proved more resilient than initially expected. Arrivals fell by 28.6% year on year in March and April, but the decline eased to 1.7% in June and 1.1% in July before widening to 3.3% in August.

Overall, tourist arrivals were down 7.0% year on year between January and August. This remains broadly within the 4.7% to 5.8% full-year decline projected by Cyprus Insights in September. Under those forecasts, tourism activity would remain above 2024 levels despite the difficult geopolitical backdrop.

Real estate and intellectual property services are also expected to support export growth.

Inflation Puts Pressure On Household Spending

The consumer outlook remains mixed. Headline inflation accelerated to 5.2% year on year in August, up from 4.4% in July, primarily due to higher energy prices. This increase came despite existing support measures and raises questions about inflation as those measures are gradually withdrawn.

Labour-market conditions remain broadly supportive of domestic demand. Although registered unemployment was 9.4% higher year on year in the second quarter, the unemployment rate fell compared with the previous quarter, even as the labour force expanded by 1.6%.

Non-permanent residents accounted for 65.1% of that increase, highlighting Cyprus’s continued reliance on workers from abroad. The inflow comes as employers face labour shortages, reflected in a job-vacancy rate of 2.6% in the second quarter.

There are also early signs of improvement: the annual increase in registered unemployment slowed to 6.5% in July and August.

Credit Rating Upgrade Reflects Stronger Fundamentals

Cyprus’s economic outlook has received a further boost from S&P Global Ratings, which upgraded the country’s sovereign rating to A from A- and assigned a positive outlook. The agency cited continued declines in external and government debt, supported by robust real economic growth.

The second-quarter figures highlight Cyprus’s capacity to expand amid external uncertainty. Sustaining that momentum will depend on the strength of domestic demand, tourism performance and the extent to which energy-driven inflation and geopolitical risks affect households and businesses.

Real household income per capita across the EU and euro area rose by 0.1% in the second quarter of 2026, while real consumption increased at a faster pace. The latest figures from Eurostat show modest quarterly income growth alongside a longer-term rise in household gross disposable income, including in Cyprus.

In Cyprus, gross disposable income for households and non-profit institutions reached €22.97 billion in 2025, up from €16.04 billion in 2020.

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Household Spending Outpaces Income Growth

Real household income per capita in the euro area increased by 0.1% for a second consecutive quarter. Real consumption per capita rose by 0.3%, recovering from no growth in the first quarter.

Across the EU, real income per capita also grew by 0.1%, down from 0.3% in the previous quarter. Consumption increased by 0.4%, following a 0.1% decline in the first three months of the year.

As the figures are adjusted for inflation, they reflect changes in household income and spending in real terms.

What Drove Income Changes?

Net property income and other net current transfers were the main contributors to real household income growth in the euro area. Across the EU, the largest positive contributions came from employee compensation and social benefits other than social transfers in kind.

However, other components limited growth. Gross operating surplus and gross mixed income had the largest negative impact in the euro area, while current taxes and net social contributions weighed most heavily on household income across the EU.

Household Saving Rates Edge Down

The share of income that households saved declined in the second quarter, falling by 0.2 percentage points in the euro area and 0.3 points across the EU.

Among member states with available data, saving rates increased in four countries and fell in 11. Poland and Czechia recorded the largest rises, at 0.6 percentage points each. Finland saw the steepest decline, at 1.6 points, followed by Hungary at 1.4 points and Italy at 1.2 points.

Household investment rates changed little. The rate remained stable in the euro area and decreased by 0.1 percentage points in the EU. Hungary recorded the largest increase among the countries covered, at 0.7 points, followed by Czechia at 0.3 points. Ireland saw the largest decline, at 0.7 points, while Italy’s rate fell by 0.3 points.

Cyprus Disposable Income Rises For Five Consecutive Years

Cyprus recorded steady annual growth in gross disposable income between 2020 and 2025. The total rose from €16.04 billion in 2020 to €16.80 billion in 2021 and €18.08 billion in 2022.

Growth continued in subsequent years, with income reaching €19.62 billion in 2023 and €21.54 billion in 2024 before climbing to €22.97 billion in 2025.

EU And Euro Area Income Totals Continue To Grow

Gross disposable income also increased across the EU and euro area over the same period.

Across the EU’s 27 member states, the total rose from €8.55 trillion in 2020 to €9.74 trillion in 2022, exceeding €10 trillion in 2023. It reached €11.11 trillion in 2024 and €11.49 trillion in 2025.

In the 21-country euro area, gross disposable income increased from €7.49 trillion in 2020 to €8.45 trillion in 2022 and €9.10 trillion in 2023. The total then rose to €9.57 trillion in 2024 and €9.84 trillion in 2025.

The annual figures point to sustained growth in gross disposable income across Cyprus, the EU and the euro area. However, the latest quarterly data show that real household income growth remains modest, even as consumption increases and saving rates edge lower.

Passengers whose flights arrive late may be entitled to compensation of up to €600 under EU rules. However, securing payment can take time, and airlines vary in how they handle claims.

AirAdvisor, a company specialising in flight and baggage compensation claims, analysed 68,283 claims involving 59 airlines between January and June 2026. Its ranking assesses how frequently claims were resolved and how often rejected or unanswered cases were referred to court.

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What Compensation Can Passengers Claim?

Under EU Regulation 261/2004, eligible passengers may receive €250 for flights of up to 1,500 kilometres, €400 for certain flights between 1,500 and 3,500 kilometres, and €600 for longer journeys.

Compensation generally applies when passengers reach their final destination at least three hours late, although exceptions include extraordinary circumstances. Separate provisions may also entitle passengers to care and assistance during delays.

Claims can be submitted directly to an airline or through a specialist service. AirAdvisor’s findings show substantial differences in the outcomes recorded through its platform.

Which Airlines Ranked Highest?

TAP Air Portugal topped the ranking, resolving 88.7% of claims in the dataset. Just 0.6% were referred to court, and the average reported payout time was 10 days.

LOT Polish Airlines came second, with an 82.8% resolution rate and no claims referred to court. Wizz Air ranked third, resolving 72.4% of claims, while 1.2% were sent to court.

Iberia placed fourth, with a resolution rate of 67.3%. Brussels Airlines completed the top five, with no cases referred to court.

The rest of the top 10 comprised Air France in sixth place, Aegean Airlines in seventh, KLM in eighth, ITA Airways in ninth and SAS in 10th.

Airlines With The Lowest Resolution Rates

Romanian flag carrier TAROM recorded the weakest results. Of 122 claims, just 3.3% had been resolved, while 46.7% were referred to court. The average time to payment was 110 days.

Aeroitalia ranked second from the bottom, resolving 0.6% of claims, with 28.2% referred to court. Ryanair, Europe’s largest airline, ranked third from the bottom. Of 991 qualified claims, 2.1% had been resolved and 17.8% referred to court.

What The Results Mean For Passengers

The ranking reflects claims handled through AirAdvisor rather than every compensation request submitted to the airlines. It should therefore be treated as a snapshot of outcomes on one platform, not a comprehensive assessment of each carrier’s claims process.

AirAdvisor included only airlines with more than 100 claims in its dataset, leaving 22 carriers in the final ranking. The results cover the first half of 2026 and do not guarantee how an individual claim will be handled.

The full methodology and results are available on AirAdvisor’s website.

Ryanair passengers checking luggage will need to drop off their bags at least 60 minutes before departure from 10 November, giving travellers less time to use the airline’s airport bag-drop service.

Until the change, passengers can hand over checked luggage up to 40 minutes before their scheduled departure. The new deadline will apply at all airports served by Ryanair.

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More Time For Security And Passport Control

Announced in April, the policy is intended to give passengers more time to clear security and passport control, where queues can lengthen during busy travel periods. Ryanair says about 20% of its passengers check in a bag.

“This small change will give the 20% of Ryanair passengers who check in a bag more time to clear airport security and passport control queues and get to their departure gate before boarding begins,” said Dara Brady, the airline’s chief marketing officer.

Brady urged passengers using airport bag drop to arrive in good time and complete both check-in and baggage drop before the revised 60-minute cutoff.

Higher Fares And Route Cuts In Focus

The baggage deadline comes as Ryanair’s leadership warns of potential pressure on fares and capacity across Europe. Chief executive Michael O’Leary recently told Euronews that airfares could see their biggest increase in European history over the next 12 months.

O’Leary said airlines could be largely unhedged against higher jet-fuel prices from April 2027, with fare increases passed on to customers potentially reaching 20%. He also forecast that airline failures and takeovers could reduce the number of available seats.

Ryanair has also announced plans to reduce routes to Belgium, citing the country’s proposed increase in aviation tax from €2 to €7 in January 2027.

Europe’s largest airline operates bases across the continent, including its headquarters in Dublin, as well as locations in Marseille, Berlin, Athens, Milan and Barcelona.

Lending in Cyprus accelerated in September, with the annual growth rate of total loans reaching 14%, up from 11.8% in August. Deposits also recorded a stronger monthly increase, according to the Central Bank of Cyprus (CBC).

Total deposits rose by a net €697.1 million to €60.2 billion at the end of September. Total loans increased by €857.8 million to €29.6 billion, according to the CBC’s October 2026 Monetary and Financial Statistics.

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Deposit Growth Strengthens

Deposits recorded a monthly increase of €697.1 million, more than four times the €171.5 million rise in August. However, the annual growth rate remained unchanged at 6.5%.

Deposits held by Cyprus residents increased by €639.9 million. Household deposits rose by €93.8 million, while deposits held by non-financial corporations grew by €373 million. Other domestic sectors contributed a further €173.1 million.

Annual Loan Growth Reaches 14%

Total loans increased by a net €857.8 million in September, compared with €114.6 million in August. The annual growth rate accelerated to 14%, up from 11.8% a month earlier.

Lending to Cyprus residents rose by €470.8 million. Loans to households increased by €52.2 million, while lending to non-financial corporations grew by €110.1 million. Other domestic sectors recorded a larger increase of €308.5 million.

The figures cover deposits and loans held by monetary financial institutions in September 2026.