More than 1.5 billion people were exposed to dangerous levels of heat this summer, according to a global analysis by nonprofit Climate Central.

The study found that Europe experienced the most unusual heat during June-August 2026, with nearly nine in 10 Europeans exposed to at least one month of what researchers classify as “risky heat.”

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Europe Emerged As The World’s Hottest Region

Climate Central defines risky heat as temperatures above 90% of local temperatures recorded between 1991 and 2020 for the same period. Researchers use the threshold to identify temperatures at which health risks begin to increase.

Across the world, people in 203 countries experienced at least 30 days of risky heat. In 54 countries, June-August 2026 was the hottest such period on record, while seven of the 10 countries with the largest temperature anomalies were in Europe.

France recorded the largest national temperature anomaly, at 3.5C above its historical average.

“Whether it’s nine in 10 Europeans enduring risky heat, hundreds of millions impacted across Asia and Africa, or relentless record-breaking temperatures in North America, human-driven warming is pushing communities beyond safe physical limits,” said Kristina Dahl of Climate Central.

She said the summer’s heat should be viewed in terms of its immediate effects on health systems, labor productivity, infrastructure and household finances.

Simon Stiell, executive secretary of the United Nations Framework Convention on Climate Change (UNFCCC), who was not involved in the study, said the findings show the rising costs of climate change linked to fossil fuel use.

Clean Energy Faces Rising Demand

Europe’s extreme summer was part of a broader trend that scientists say would have been “virtually impossible” without climate change. Earlier this month, the United Nations said limiting warming to 1.5C is no longer achievable under current conditions.

The latest United Nations Environment Programme (UNEP) outlook projects 1.8C of warming in the best-case scenario and more than 2C in less favorable cases. UNEP now describes the likely pathway as “overshoot, peak and decline.”

Renewable energy is central to limiting that overshoot. Renewables generated almost 34% of global electricity in 2025, but UNEP says the share would need to reach 60%-70% by 2030 under a limited-overshoot pathway.

In the European Union, wind and solar generated more electricity than fossil fuels for the first time last year. SolarPower Europe estimates that solar generation has saved the bloc €33.8 billion in avoided gas imports since the start of the war on Iran.

Power Grids Struggle With Growing Demand

Investment in clean energy has reached about $1.9 trillion annually, but renewable generation is meeting only around 40% of the increase in electricity demand. Air conditioning and the rapid expansion of artificial intelligence are contributing to that growth.

According to the International Energy Agency, data center electricity use increased 17% in 2025, reaching roughly 1.5%-2% of global electricity demand. That figure is expected to double by 2030.

Europe’s aging power grids are also struggling to integrate growing amounts of renewable generation, leaving some solar and wind capacity unused. Battery storage can help reduce those bottlenecks, but investment has not kept pace with the scale of the challenge.

This summer’s heat is adding pressure on governments, businesses and infrastructure systems to adapt to higher temperatures while expanding low-carbon energy capacity.

Apple has agreed to change how apps on its platforms request permission to track users across other apps and websites following scrutiny from European competition regulators.

The changes affect App Tracking Transparency (ATT), which requires third-party apps to obtain user consent for cross-app tracking. Regulators have argued that Apple’s own services have not faced the same restrictions, raising competition concerns.

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Apple Offers Developers An Alternative Consent Screen

Under commitments agreed with European competition authorities, Apple will keep the ATT requirement and the existing point at which users receive the prompt.

Instead, developers distributing apps in the European Union will be able to use an alternative consent screen with different formatting and wording. The screen can also include a link with additional information about why tracking permission is requested.

Apple said the alternative will initially be available in Germany, France, Italy, Poland and Romania because of legal obligations in those markets.

Developers Get More Flexibility Over ATT Prompts

Reports on the settlement said Apple will allow developers to present the consent request as a full-page screen rather than a pop-up. The revised version removes the word “track” and replaces the buttons with “Allow” and “Reject.”

Developers can also add a link explaining how data will be used and why permission is needed. The changes modify how the request is presented without removing the underlying consent requirement.

Tracking Rules Affect App Advertising Revenue

ATT has significant commercial implications for apps that rely on targeted advertising. When users decline tracking, developers have less data available for personalized ads, which can reduce their advertising revenue.

Apple has said ATT is designed to protect user privacy. Critics have argued that Apple’s own services can still use data from its ecosystem for personalized advertising, creating concerns about unequal treatment between Apple and third-party developers.

EU Developers Can Ask For Consent Again

Apple will also allow developers distributing apps in the EU to request consent again one year after a user’s previous ATT decision.

That change gives developers another opportunity to obtain consent over time while leaving the core ATT framework in place. For Apple, the commitments adjust how tracking permission is presented without removing the system’s central privacy requirement.

Cyprus recorded 21,387 property transfers in 2025, broadly unchanged from 2024, while the value of transactions rose about 10% to €4.73 billion.

The figures were presented at the Cyprus Property Show, where government officials and representatives from the property, construction, engineering and investment sectors discussed housing supply, planning reform and rising costs.

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Government Seeks More Flexible Planning Rules

Interior Minister Konstantinos Ioannou said housing remains a government priority, with measures aimed at increasing supply and strengthening citizens’ purchasing power.

The government is revising local plans for major urban areas and the Policy Statement to create a more modern and flexible planning framework. First Town Planning Officer Heraklis Achniotis said the reforms could address long-standing weaknesses and shape development over the next 20 to 30 years.

Cyprus Land Development Corporation (KOAG) Director-General Eleni Symeonidou also outlined the organization’s projects aimed at addressing housing demand.

Engineers Warn Of Rising Building Safety Risks

Scientific and Technical Chamber (Etek) President Konstantinos Konstantis said Cyprus still needs a unified housing strategy, although some measures from the chamber’s 2023 housing policy memorandum have been adopted.

He warned that the number of older and potentially dangerous buildings could rise sharply without intervention. “If measures are not taken, the 5,000 dangerous buildings that exist today will become 15,000 or more within five years,” Konstantis said.

He called for regular building inspections through an MOT-style system.

Developers Call For Faster Licensing

The Cyprus Association of Large Investment Projects called for faster licensing of strategic investments and a stable planning, tax and investment framework.

The group also highlighted infrastructure, energy costs and access to specialized labor, while calling for greater use of technology and green-transition measures in new projects. It also urged Cyprus to pursue policies that attract long-term international investors.

Rising Costs Continue To Pressure Supply

Real estate agents cited geopolitical uncertainty, higher construction costs and changing economic conditions as growing challenges for the market.

Construction contractors pointed to similar pressures, including labor shortages and energy prices. Cyprus Association of Building Contractors Secretary-General Stefanos Pieridis said rising costs affect the entire development chain, reducing project viability and pushing up final property prices.

Banks Expand Digital Mortgage Services

Bank of Cyprus Director of Retail Banking Theodosis Theodosiou said the bank has expanded housing finance solutions and digital tools for homebuyers.

“With the new online mortgage service, the process is simpler and faster than ever,” he said.

Cyprus’s property market continues to record steady transaction volumes while facing pressures from affordability, supply constraints, construction costs, labor shortages and planning rules.

Anthropic CEO Dario Amodei has called for greater transparency around AI development, including public reporting on how models are built and used.

His proposal reflects a wider debate over the pace of AI development, as capabilities advance while the public and policymakers have limited visibility into how models are trained and improved.

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The call has drawn support from OpenAI CEO Sam Altman, Tesla and SpaceX CEO Elon Musk, and Google DeepMind Chair Demis Hassabis. Amodei has said any slowdown should preserve commercial competitiveness and the United States’ lead in AI.

Anthropic Tracks AI Development With Three Metrics

Anthropic said its first metric found that Claude models were not fully autonomous in any subset of the research and development work it measured.

A second metric found roughly 30,000 AI agents performing research and engineering work across the company’s most-used internal platform, with a system in place to monitor and intervene in their actions.

For the third metric, Anthropic examined compute use from July 13 to July 20. About 6% of compute used for AI research and development went to safety, while safety-related work accounted for roughly 12% of compute dedicated to AI-driven research and development.

Why The Metrics Matter

Anthropic said the measures complement capability evaluations by showing more about how AI systems are developed, rather than only what they can do.

The company said publishing the data could give outside observers a clearer basis for assessing the pace of AI development and added that it plans to continue releasing the measurements.

Cyprus’ short-term economic outlook returned to positive territory in August, despite continued external pressures, according to the Composite Leading Economic Index (CCLEI) from the University of Cyprus Economics Research Centre (CypERC).

The CCLEI rose 0.02% year over year in August 2026, based on revised data, after several months of decline. The modest increase reflected stronger readings in several domestic indicators, including property sales contracts, credit card spending, retail sales volumes and temperature-adjusted electricity production.

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External Pressures Continue To Weigh

Higher Brent crude prices and lower tourist arrivals compared with a year earlier limited the improvement in the index. The weighted Economic Sentiment Indicator also weakened from August 2025, adding to the external pressures facing the economy.

CypERC said the latest reading pointed to a gradual improvement in the short-term outlook while noting Cyprus remains exposed to international economic and geopolitical developments.

CBC Forecasts Slower Growth In 2026

The latest CCLEI reading comes as the Central Bank of Cyprus (CBC) expects economic growth to slow this year before recovering.

GDP is forecast to grow 2.9% in 2026, compared with 3.8% in 2025, before accelerating to 3.1% in both 2027 and 2028. The CBC nevertheless raised its June forecasts by 0.4 percentage points for 2026 and 0.2 points for 2027, citing stronger-than-expected second-quarter activity, improved tourism performance and robust residential investment.

Domestic Demand Remains A Key Support

Private consumption is expected to remain positive as households benefit from higher real disposable incomes, although inflationary pressures will persist. The labor market and major residential and non-residential projects are also expected to support activity.

Long completion timelines and expectations that geopolitical disruption will be temporary make cancellations of major investment projects unlikely, according to the CBC.

Net Exports Expected To Weigh On Growth

Net exports are forecast to make a negative contribution to growth in 2026, largely because tourism revenue declined in the first half of the year amid the Middle East conflict. Higher imports are also expected as domestic demand remains strong and imported services support export activity.

A stronger contribution from net exports is projected for 2027 and 2028 as tourism recovers.

Outlook Improves But Remains Exposed To External Shocks

The CCLEI and CBC forecasts point to continued support from domestic demand and investment alongside exposure to energy prices, tourism flows and geopolitical developments.

August’s marginal increase in the leading index therefore signals a modest improvement in the short-term outlook, while the CBC expects slower growth in 2026 followed by a recovery in the next two years.

The Bank of England kept its benchmark interest rate at 3.75% on Thursday, but the decision was not unanimous. In a 6-3 vote, the Monetary Policy Committee kept rates unchanged, while three members backed a 25-basis-point increase to 4%. Renewed energy price pressures have added to concerns that inflation could remain elevated.

Inflation Pressures Remain

Policymakers said inflation “is likely to rise further over coming quarters,” citing higher and more volatile crude oil and refined energy prices since the conflict began.

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So far, there has been “little evidence” of significant second-round effects, such as broader wage and price increases. Inflation risks, however, are now “tilted to the upside” and have increased since the July Monetary Policy Report.

Energy Prices Add To Inflation Risks

Brent crude has risen 36% since July, reaching $106 a barrel on Sept. 14, while UK wholesale gas prices increased 78% to 207 pence per therm.

Higher energy costs can feed into transport, production and household expenses, raising costs across supply chains. Refinery pressures have also pushed crack spreads, the difference between refined fuel and crude prices, well above pre-conflict levels.

Economy Shows Resilience

Despite the inflation risks, UK economic activity has held up slightly better than the Bank expected. A softer labor market and higher borrowing costs are expected to help reduce inflation over time.

Previous monetary tightening is still working through the economy, according to policymakers. So far, the latest energy shock has not produced clear evidence of a broader wage-price spiral.

Major Central Banks Take Different Paths

The decision comes during a busy period for global monetary policy. The Federal Reserve raised rates Wednesday to 3.75%-4% in its first increase since 2023, while the European Central Bank recently lifted its deposit rate to 2.5%.

The Bank of Japan is due to announce its decision Friday, with markets expecting a rate increase. Thursday’s split vote shows that pressure for tighter policy remains within the Bank of England’s Monetary Policy Committee.

Cyprus’ technology and business communities are moving to tighten their collaboration as the country accelerates its digital transformation agenda and prepares for broader artificial intelligence adoption.

Focus On AI Strategy And Business Readiness

That was the central message from discussions between the Cyprus Information Technology Enterprises Association (CITEA) and the Employers and Industrialists Federation (Oev), which examined Cyprus’ digital future, the government’s National Artificial Intelligence Strategy, and the practical challenges businesses face as they adopt emerging technologies.

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The two organisations discussed the need to speed up AI uptake across the economy, while also identifying the role industry groups can play in helping companies use these tools more widely and effectively.

Citea Sets Out Recommendations

During the meeting, CITEA outlined its main positions and recommendations on the National AI Strategy. The association said it would share its proposals with Oev in greater detail for further review and discussion.

CITEA president George Malekkos highlighted the long-standing cooperation between the two organisations and voiced support for expanding it through joint initiatives and reciprocal backing.

The objective, he said, is to help accelerate digital transformation and AI adoption across the Cypriot economy.

Shared Commitment To Cyprus’ Digital Development

Also attending the meeting were Oev president George Pantelides, director general Michalis Antoniou, and CITEA vice-president Antonia Michael.

CITEA and Oev said they will continue working together to strengthen ties between the technology and business sectors and support Cyprus’ broader digital development.

Ten years ago, Lynne Loo was an academic scientist in Australia studying how waste could be repurposed. What began as a research project soon evolved into something larger: a practical blueprint for extracting commercial value from materials most businesses would send to landfill.

Today, Loo is helping startup founders turn that idea into reality. As a waste broker, she connects emerging businesses with markets for by-products and discarded materials, giving viable new ventures a route from laboratory concept to commercial scale.

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Australia’s Waste Problem Creates A Business Opportunity

Australia generates 76 million tonnes of waste each year, according to the Department of Climate Change, Energy, the Environment and Water. Much of it still ends up in landfill. That scale of waste presents an environmental challenge, but it also opens a market for entrepreneurs capable of rethinking what discarded materials can become.

Across industries, innovators are finding that waste is not only a disposal problem. In the right hands, it can be a feedstock, a raw material, and in some cases, a high-value product in its own right.

Turning Food Waste Into Cellulose Products

One example comes from Matt Barber, who has built a home laboratory focused on extracting cellulose from food waste. From that material, he is developing paper, leather and wood alternatives, with potential applications in bioplastics as well.

“So, what I get is pure cellulose that comes out and then from there, I process that into other paper, leather or wood products. But it could be turned into a bioplastic. It can be turned into any uses. So you can, instead of growing a tree, which takes 75 years, you can grow this in a week,” Barber explained.

For Barber, the venture fits alongside his day job, but access to the right market is critical. That is where Loo’s work becomes essential. “You have a start up and you don’t know what to do with it and she [Loo] helps you find a market for it,” he said.

From Rubbish To Vinegar, Biochar And Oil

At a waste facility in Collie, Western Australia, Renergi is pursuing a more industrial version of the same principle. Using thermal conversion technology, the company is transforming rubbish into products including vinegar, biochar and oil.

“We can process just under about 30,000 tonnes of biomass waste per year and 4,000 tonnes per annum of the town’s municipal solar waste,” said Deejay Parker of Renergi.

More than 70% of the material is recovered and converted into new outputs. The biochar is already being used on fruit farms and at a winery across Southern Western Australia, demonstrating how waste recovery can create practical value for regional agriculture.

The project has received funding from the Australian Renewable Energy Agency as part of broader efforts to expand renewable technologies into regional communities. At full scale, it is expected to become one of the country’s largest producers.

Why Circular Thinking Is Winning Traction

Loo says the momentum matters as much as the technology. “I think it’s important for people to see that it’s possible because there are so many naysayers,” she said.

That is the central lesson of Australia’s growing waste innovation sector: with the right science, business model and market access, discarded materials can become industrial inputs, farm products and new revenue streams. In a resource-constrained economy, the smartest waste strategy may be to stop seeing waste as the end of the line.

Instead, it can be the beginning of a new value chain.

MENA fintech raised $617 million across 57 transactions in H1 2026, matching H1 2022 funding but across 31 fewer deals. The gap points to a market increasingly shaped by larger transactions.

Fintech Deal Activity Falls To A Multi-Year Low

Transactions fell 50% year over year to 57, making H1 2026 the second-lowest first half for fintech deal activity in the period. Only H1 2023 recorded fewer deals, with 54.

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Funding declined by 9%, indicating that fewer companies secured capital while total investment remained relatively concentrated. Larger transactions therefore accounted for a greater share of overall funding.

Large Rounds Support Overall Funding

Deals above $100 million were the main driver of funding, while capital deployed through smaller rounds declined. This made the region’s overall performance more dependent on a limited number of large transactions.

The pattern has appeared in previous years, but its impact varies by period. H1 2024 recorded no $100 million-plus round, when funding reached its lowest level, while H1 2025 posted a stronger first half before slowing in the second.

Fintech Gains Share Of Mena Funding

Fintech accounted for $617 million of the $1.35 billion invested across Mena in H1 2026, increasing its share of regional funding.

The higher share reflects fintech funding falling less sharply than the broader Mena venture market, rather than sector-wide growth. Fintech funding itself declined 9% year over year.

H1 Funding Does Not Set The Full-Year Trend

First-half funding has historically represented between just over one-third and more than half of annual fintech investment. Annualizing the H1 figure therefore indicates the scale of activity but does not provide a full-year forecast.

The timing of large deals can also materially change the annual picture. The absence of a $100 million-plus round in H1 2024 illustrates how quickly headline funding can shift when a few transactions account for a significant share of investment.

At $617 million, H1 2026 shows the current scale of MENA fintech funding, while the second half will provide more evidence on whether activity is stabilizing. The continued decline in deal volume remains a key trend.

The full MAGNiTT report covers quarterly trends, transaction sizes, funding stages, geographies, sectors, investor activity and fintech exits.

The Cyprus Securities and Exchange Commission (CySEC) has withdrawn the Cyprus Investment Firm (CIF) licence of Eurotrade Investments Rgb, citing breaches of regulatory requirements on management and organizational arrangements.

According to the regulator, the decision was based on breaches of Articles 9(16) and 17(2) of the law. Article 9(16) requires an investment firm to have at least two people effectively directing its business, while Article 17(2) covers the organizational arrangements required for compliant operations.

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“Cysec reached the above decision due to the company’s non-compliance with Articles 9(16) and 17(2) of the law, namely in relation to the requirement to have at least two persons effectively directing its business activities and in relation to its organisational arrangements,” the regulator said.

Licence Withdrawal Ends Investment Services

CySEC said the breaches meant Eurotrade Investments Rgb no longer met the conditions under which its investment firm authorization had been granted.

Following the withdrawal, the company must immediately remove references on its websites and elsewhere to providing investment services, as well as claims relating to CySEC licensing or supervision.

The firm must also review and resolve customer complaints submitted to it. It is prohibited from providing investment or ancillary services following the withdrawal of its authorization.

Governance Requirements Remain Central

The decision highlights the importance of management and organizational requirements within the regulatory framework for investment firms. Maintaining the required governance structure is a condition of authorization, and failure to meet those requirements can result in the withdrawal of a licence.