Cyprus’ seasonally adjusted GDP grew 0.8% in the second quarter of 2026 from the previous quarter, while employment increased 0.5%, according to Eurostat data.

Compared with the second quarter of 2025, GDP rose 3.3% and employment increased 1.6%. Quarterly economic growth accelerated from 0.5% in the first quarter.

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Cyprus Growth Picks Up In Second Quarter

The 0.8% quarterly expansion followed growth of 1.2% in the fourth quarter of 2025 and 0.8% in the third quarter. Annual growth also accelerated to 3.3% from 3% in the first quarter, after reaching 4.2% in the fourth quarter and 3.5% in the third quarter of 2025.

Employment growth resumed after remaining unchanged in the first quarter. The 0.5% quarterly increase followed gains of 0.7% in the fourth quarter and 0.5% in the third quarter of 2025.

Annual employment growth slowed to 1.6% in the second quarter from 2% in both the first quarter of 2026 and the fourth quarter of 2025. Growth stood at 1.4% in the third quarter of 2025.

EU Growth Strengthens

Across the EU, GDP increased 0.7% in the second quarter from the previous quarter, while euro area output rose 0.6%. Both figures marked a sharp acceleration from the first quarter, when EU GDP grew 0.1% and euro area GDP was unchanged.

Year on year, GDP increased 1.4% in the EU and 1.2% in the euro area, up from 0.9% and 0.6%, respectively, in the previous quarter.

Ireland recorded the strongest quarterly growth at 10.2%, followed by Slovenia at 1.8% and Lithuania at 1.7%. Austria was the only member state to record a contraction, with GDP falling 0.1%.

Consumption And Trade Support Growth

Household consumption contributed 0.2 percentage points to quarterly growth in both the euro area and the EU. Net exports added 0.9 percentage points in the euro area and 0.8 points in the EU.

Inventory changes reduced growth by 0.5 percentage points in both regions. Gross fixed capital formation had little impact in the euro area and added 0.1 percentage points in the EU.

Employment increased 0.1% quarter on quarter in both the euro area and the EU. Annual employment growth reached 0.5% in the euro area and 0.4% in the EU, with 221.4 million people employed across the EU and 176.4 million in the euro area.

Hours worked increased 0.1% in both regions from the previous quarter. Compared with a year earlier, hours worked rose 0.7% in the euro area and 0.8% in the EU.

Employment Trends Vary Across Europe

Portugal recorded the strongest quarterly employment growth at 1%, followed by the Czech Republic and Malta at 0.9% each. Finland saw the largest decline, at 0.8%, followed by Greece at 0.4%.

In the United States, GDP increased 0.4% from the previous quarter and 2.1% year on year.

Andreas Shiamishis, the Cypriot CEO of HELLENiQ ENERGY, ranked first in Extel’s 2026 Emerging EMEA Executive Team survey in the “Mid-Cap Oil & Gas” category.

The recognition comes as HELLENiQ ENERGY expands beyond its traditional refining business and strengthens its position across Southeast Europe’s energy market.

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Investors Back HELLENiQ ENERGY’s Strategic Shift

Shiamishis has led the group since 2019, overseeing a broad strategic transformation. During his tenure, HELPE was rebranded as HELLENiQ ENERGY, while the group increased its focus on the energy transition and renewable energy.

The strategy has diversified the company’s business and expanded its international presence. HELLENiQ ENERGY now combines its refining operations with investments aligned with longer-term changes in the energy sector.

Group And Investor Relations Teams Also Recognized

HELLENiQ ENERGY was also named among the “Most Honoured Companies” in its category, while its Investor Relations team received top recognition. The results reflect investor assessments of both the company and its management and communications.

For the group, the recognition adds to its international profile as it expands across the regional energy market.

What Extel’s Survey Measures

Extel’s annual survey evaluates listed companies and executives on management credibility, communication, financial stewardship and capital allocation. Shiamishis has ranked among the sector’s top three executives in recent years.

This year’s survey collected votes from 454 professionals at 247 investment firms. Overall, 401 companies and 603 senior executives across 11 sectors were evaluated.

Shiamishis Maintains Links To Cyprus

Shiamishis, who is from Morphou, remains closely connected to Cyprus, where HELLENiQ ENERGY operates through EKO and is expanding its renewable energy activities.

His ranking places a Cypriot executive at the top of Extel’s 2026 Mid-Cap Oil & Gas category, while the wider results recognize HELLENiQ ENERGY and its Investor Relations team.

Sweden is strengthening efforts to detect foreign information influence and coordinated attempts to manipulate political debate ahead of its general election. Authorities are focusing on how artificial intelligence and social media are changing the creation, distribution and amplification of political messages.

The government said greater resilience is needed because of the current security environment, rapid technological developments and lessons from elections elsewhere in Europe.

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AI Network Shows How Influence Tactics Are Evolving

The Swedish Psychological Defence Agency last week reported a partly AI-powered network of about 1,200 fake accounts on X known as Holiday. The network generated more than 50,000 posts, comments and shares during 2025 and 2026 and was used for malign influence targeting Sweden and other countries.

Sweden’s central bank first identified the accounts after employees took part in an agency exercise, and X later removed the network. Holiday has not been directly linked to this year’s election, but authorities released the findings ahead of the vote to highlight emerging tactics.

TikTok And AI Change How Voters Get Information

One in 10 Swedes uses AI services to ask questions about politics or social issues, according to an April report from Sweden’s Internet Foundation. Among first-time voters, the share rises to one in four.

Recommendation systems can amplify sensational or emotionally charged content because it generates stronger engagement. Generative AI also allows networks to produce large volumes of material across multiple accounts at relatively low cost.

In February, Swedish public radio identified four TikTok accounts featuring AI-generated young women that promoted far-right and anti-immigration messages. The broadcaster found indications that the accounts were operated by the same actor.

Authorities Monitor Rising Online Activity

A Swedish Psychological Defence Agency poll found that 64% of adults believe foreign attempts to influence Sweden this year are very or quite likely. Meanwhile, the Swedish Defence Research Agency said election-related posts increased from about 1,000 a day to almost 2,400 shortly before early voting began.

Researchers have detected coordinated posting, identical content and fake accounts, but said the scale remains limited. So far, they have not attributed the activity to an organized foreign campaign.

Migration Remains A Key Disinformation Target

Migration-related narratives remain a particular focus because they have featured prominently in Russian disinformation efforts. Researchers have monitored claims that Sweden is being “Islamified,” that migrants were brought in to support left-wing parties and that electoral fraud is taking place.

“When we look at the topics that Russia has been pushing before, this is outgrowing every other topic, even support for Ukraine,” said Ola Svenonius, a senior researcher at the Swedish Defence Research Agency.

Despite these narratives, Sweden is not currently considered a priority target for Russian information influence by the Swedish Psychological Defence Agency. Svenonius said Moscow may instead focus on other elections, including German state contests.

Sweden Builds On Lessons From Earlier Elections

Authorities say Sweden is now better prepared to identify suspicious activity than during previous election cycles. Svenonius, who has monitored the country’s election information environment since 2018, said institutional awareness has also improved.

“We should be concerned,” he said. “We shouldn’t be panicked, but concerned for sure.”

Cyprus Electricity Authority (AΗΚ) inspectors have identified 22 violations involving photovoltaic systems during checks at commercial properties across the island. Of 110 suspicious cases flagged so far, 77 have been inspected. Initial findings indicate that unlicensed installations may be more widespread than the cases identified to date.

Businesses Removed Some Unlicensed Systems

Several property owners appear to have removed entire photovoltaic systems or additional panels before inspections began. AΗΚ had warned that on-site checks would follow, prompting some owners to act before inspectors arrived.

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Commercial properties, including hotels, restaurants and retail outlets, have been the initial focus. Residential systems are expected to be inspected later.

22 Violations Confirmed From 77 Inspections

Among the 77 properties inspected, 22 were found to have violations. Owners were instructed to remove either the entire system or additional panels installed without the required applications and permits. Inspections will expand beyond the original 110 cases as AΗΚ identifies other properties for review.

How AΗΚ Identifies Suspicious Installations

AΗΚ’s software compares a property’s electricity consumption with expected usage for similar premises. Significantly lower consumption, combined with no registered photovoltaic application, can trigger an inspection. Specialized teams across all districts then visit the premises and request access. Illegal systems are disconnected when violations are confirmed.

Owners Face A €200 Inspection Charge

Owners whose systems are disconnected must pay €200 for the investigation. No charge applies when inspectors find no violation. After disconnection, owners must submit an application to install and operate a photovoltaic system legally. Work on AΗΚ’s network requires an application and prior inspection by an AΗΚ crew.

Violations are also reported to the Cyprus Energy Regulatory Authority, known as RAEK. Standalone homes require an additional inspection by the Electrical and Mechanical Services.

Inspections To Continue Across Cyprus

AΗΚ’s campaign aims to bring unlicensed photovoltaic installations into compliance. With 22 violations confirmed from the first 77 inspections, current results suggest the issue extends beyond the properties initially identified.

Cyprus has introduced two housing schemes aimed at expanding affordable housing, increasing supply and helping families facing rising property costs. Announced by Interior Minister Constantinos Ioannou, the measures combine public land, planning changes and incentives to make better use of existing properties.

Families Can Add A Floor

One scheme allows homeowners to add another floor for children or grandchildren, subject to specific conditions, even where the property has reached its permitted building density.

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An additional housing unit can be created within an existing building or through an extension, added floor or unused space on a plot. The unit can have up to 150 square meters of buildable area, rising to 180 square meters under certain conditions, with parking concessions and a 10-year restriction on transfers except through inheritance.

State Plots At 25% Of Market Value

A second scheme allows eligible households to acquire state-owned plots at 25% of market value. It targets Cypriot citizens under 45, including families with children, couples without children and single-parent families, subject to income and other criteria.

Around 570 plots are expected to be allocated to applicants from the first phase, with further subdivisions planned, particularly in mountainous, remote and disadvantaged areas.

More Housing Projects Underway

The new measures join existing programs supporting young families, rural communities and displaced persons. A program for young people and families up to 41 has supported 700 beneficiaries with €26 million, while other regional schemes approved 1,075 applications between 2023 and 2026, involving €43 million.

Affordable housing projects on state land include 460 planned homes at below-market rents. Meanwhile, the Cyprus Land Development Corporation has 702 units at the implementation, licensing or planning stage and is promoting another 135 plots.

Planning incentives and the Built to Rent initiative are expected to add more than 4,100 units over the next three years, including 1,142 for affordable purchase or rent. More than €22 million is also expected to go into the Special Affordable Housing Fund, supporting about 250 additional units.

Faster Approvals Aim To Expand Supply

Fast-track planning reforms have reduced approval times, with 2,533 detached and semi-detached homes licensed within 40 working days by the end of August. Another 1,242 apartment blocks and terraced housing developments were approved within 80 working days, affecting more than 15,000 families.

Ioannou said the broader strategy is focused on expanding the housing stock, making better use of public and private land, supporting households and speeding up delivery.

The Cyprus Chamber of Commerce and Industry (Keve) has called for a review of Cyprus’ competitiveness following reports that technology company BrainRocket has closed its Limassol offices and offered relocation packages to most remaining employees.

BrainRocket Case Raises Wider Concerns

Keve said it would be premature to draw conclusions about BrainRocket’s decision without official information from the company. However, it said the reported withdrawal should prompt a broader discussion about Cyprus’ business environment.

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BrainRocket reportedly closed its Limassol offices and other leased facilities, with remaining employees working remotely and most offered relocation packages to Spain or other countries. The move follows a restructuring that began in summer 2025, when the company shifted a substantial part of its operations to Valencia.

BrainRocket employed about 1,500 people in Cyprus at the time, with more than 1,000 affected by the restructuring.

Costs, Regulation And Talent Under Review

Keve said Cyprus still benefits from EU membership, a professional services sector, skilled workers, its location and a growing technology ecosystem. At the same time, it warned that these advantages cannot be taken for granted as competition for investment and talent increases.

The chamber called for greater attention to operating and energy costs, housing, bureaucracy, licensing and immigration procedures, infrastructure and access to specialized workers. It also stressed the importance of a stable and predictable tax and regulatory environment.

Keve said it wants to work with the government to assess the BrainRocket case and identify practical measures to strengthen Cyprus’ competitiveness.

Pillar Two Adds To Business Concerns

The discussion comes alongside wider concerns over Cyprus’ tax competitiveness. The American Chamber of Commerce in Cyprus has separately called for a balanced implementation of the OECD/G20 Pillar Two global minimum tax framework.

AmCham has warned that changes could affect future investment, employment and Cyprus’ position as an international business hub. It said some US-headquartered multinationals could reconsider expansion plans or choose other jurisdictions if Cyprus becomes less competitive, although the potential impact remains uncertain.

Keve stressed that one company’s decision does not determine the outlook for the Cypriot economy. It said such cases should nevertheless prompt timely assessment and action before competitiveness concerns become structural disadvantages.

Meta has launched a new AI personal agent app and is already asking some users to pay for it, as the company seeks to turn its AI investment into a new business line.

Developed under the internal code name Hatch, the app is powered by Meta’s Muse Spark family of foundation models. It can handle everyday tasks including booking appointments, completing online forms and monitoring home security camera feeds.

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Meta Targets A Simple User Experience

Meta AI chief Alexandr Wang said Muse is designed to keep the user experience simple while handling complex tasks in the background.

“Behind the scenes, Muse might be doing very advanced coding workflows, or building sophisticated integrations, or doing quite a lot of heavy lifting while keeping that very sort of simple for the user,” Wang told CNBC.

Muse will offer a free tier and monthly plans costing $20 and $100, depending on usage. The pricing reflects Meta’s effort to build recurring AI revenue alongside advertising.

Zuckerberg Bets On Personal AI Agents

CEO Mark Zuckerberg has identified personal AI agents as a potential next stage of artificial intelligence and a source of future products and revenue. That strategy is driving continued spending on data centers and AI infrastructure as Meta bets that assistants capable of managing emails, finding deals and handling routine tasks will become mainstream.

Launch Comes Amid Legal And Industry Scrutiny

Muse arrives as Meta faces continued legal scrutiny. The company recently agreed to pay nearly $17 billion in a settlement with a coalition of state attorneys general over allegations involving harm on Facebook and Instagram, while additional lawsuits from personal injury plaintiffs and school districts remain pending.

Across the AI industry, regulators and security experts are also examining cybersecurity risks associated with autonomous agents and their underlying models. Data center expansion and questions over AI profitability are adding further pressure on major technology companies.

Meta Seeks A Payoff From AI Spending

Wall Street is pressing Meta to show that its AI investments can produce durable returns as the company remains heavily dependent on advertising while expanding into subscriptions and commerce.

Muse joins Meta’s broader AI portfolio, including the Muse Code developer agent and subscription offerings tested in recent months. Together, they point to a strategy of building a commercial AI services business rather than treating AI products as standalone experiments.

Security, Privacy And Commerce

Meta says Muse operates in an isolated environment and does not access users’ actual passwords or payment details. The agent asks for approval before sensitive actions, while third-party researchers can test the product through a bug-bounty program.

Users can opt out of having their Muse interactions used to train Meta’s models. For those who remain opted in, Meta says it will remove critical personally identifying information before using the data, according to David Singleton, Meta’s vice president of engineering.

Commerce could provide another revenue source. Wang said Meta is considering taking a share of shopping transactions completed through the agent, although no final business model has been decided.

Muse Expands Across Meta’s Ecosystem

US consumers will be able to access Muse on iOS, Android and a standalone website, with plans to bring it to Ray-Ban Meta glasses.

The service will compete with personal-agent products from OpenAI, Google and newer startups. Wang acknowledged that the market remains at an early stage, saying, “It’s pretty early in this new era of personal agents.”

Repeated and unusually early heatwaves are changing how travelers perceive summer conditions across Southern Europe, but temperature remains only one factor shaping tourism demand.

An analysis of Italy, France, Spain, Portugal and Greece by The Data Appeal Company and Almaviva Group found that destination appeal, familiarity and resilience continue to influence travel decisions alongside climate conditions.

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Climate Perception Becomes A Tourism Metric

The study uses the Perception of Climate Index (PCI), which measures traveler views of a destination’s climate on a scale of 0 to 100. Researchers analyzed May through September in the five countries using data from 2023 onward, with 2026 figures covering the period through July.

Results suggest climate change is creating pressure on tourism rather than immediately overwhelming demand. Destinations may need to respond through infrastructure improvements, adaptation measures and greater focus on year-round tourism.

France Sees The Sharpest Shift

France recorded the lowest PCI between May and July 2026, averaging 77.2, indicating a stronger deterioration in traveler sentiment following repeated heat exposure.

Portugal was the most resilient, with a score of 93.5, followed by Italy at 91.6, Spain at 90.4 and Greece at 89.9. Italy’s average also slipped from 92.2 in summer 2025 to 91.3 in May-July 2026, suggesting repeated heat events are gradually influencing expectations.

Heatwaves Create Short-Term Swings

Heatwaves generally cause temporary declines in climate perception, followed by recovery as temperatures return to normal. However, the 2026 data suggest earlier, longer and more frequent heatwaves may have a more lasting effect.

For tourism operators, the question is increasingly whether destinations remain reliable summer choices as extreme weather becomes less predictable, rather than simply whether visitors can tolerate high temperatures.

Portugal Shows Greater Stability

Portugal recorded the most stable climate perceptions in the study, with an average PCI of 91.1 across the summers analyzed. That consistency may partly reflect traveler expectations in a market already associated with warm summer conditions.

Spain and Greece also remained resilient despite sharp short-term fluctuations during heatwaves. Since 2023, Spain recorded an average summer PCI of 87.2 and Greece 89.2, although Greece’s 2026 performance was weaker than in previous years.

Tourism Strategy Faces New Climate Pressure

For tourism destinations, climate change is becoming a planning issue as well as a weather challenge. Repeated heatwaves are testing how well Southern European markets can maintain their appeal during the traditional peak season. Infrastructure upgrades, clearer visitor communication and tourism products designed for periods outside July and August could help destinations adapt.

Eating breakfast at lunchtime or dinner during normal sleeping hours may seem like a minor weekend indulgence. New research suggests, however, that this type of irregular meal timing, described by scientists as “eating jet lag,” may be linked to higher cardiovascular risk in men.

A French study published in Communications Medicine found that each additional hour of eating jet lag was associated with a 14% higher risk of cardiovascular disease and a 21% higher risk of coronary heart disease among men. No similar association was observed in women.

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Why Meal Timing Matters

Weekend schedules often differ from weekday routines, with work and school timetables shifting when people eat. Over time, researchers suggest, these changes may interfere with the body’s biological rhythms.

“This study suggests the importance of regular meal-timing patterns, beyond sleep and diet quality, in cardiovascular disease prevention,” the authors wrote.

Researchers followed more than 100,000 participants for 14 years, analyzing the timing of their first and last meals on working days and weekends between 2009 and 2023.

Risk Pattern Appeared In Men

Participants were grouped according to how their meal times changed between weekdays and weekends. One group ate earlier on weekends, another maintained similar schedules, and a third ate later.

Both groups with irregular meal timing showed higher cardiovascular risk than those with stable schedules, regardless of overall diet quality. The association was observed only among men.

Researchers proposed several possible explanations. Men generally have a higher absolute risk of cardiovascular disease, while women tend to have stronger morning-oriented routines that may influence how their bodies respond to changes in meal timing.

Circadian Rhythms May Explain The Link

One possible explanation is that irregular eating disrupts the body’s circadian system, which regulates many physiological functions over a 24-hour cycle.

Light is the main signal that sets circadian rhythms, but food timing also helps synchronize peripheral clocks in organs including the liver and heart. Eating in alignment with these rhythms is generally associated with better metabolic regulation, while irregular timing may disrupt that balance.

What It Means For Prevention

The findings do not prove that irregular meal timing causes heart disease. However, they add to growing evidence that when people eat may matter nearly as much as what they eat for long-term cardiovascular health.

If confirmed in larger studies, regular meal timing could become a useful target for public health interventions aimed at reducing chronic disease risk. For individuals, employers and schools, greater consistency in daily routines may be more than a lifestyle preference and could form part of a broader strategy to protect heart health.

Cyprus and Kazakhstan are working to turn agreements signed during President Nikos Christodoulides’ June visit to Astana into joint projects in artificial intelligence, space technology and applied research.

Chief Scientist Demetris Skourides discussed the next phase of cooperation this week with Kazakhstan’s ambassador to Cyprus, Nikolay Zhumakanov, at the Research and Innovation Foundation (RIF).

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From Agreements To Joint Projects

Christodoulides’ visit marked the first trip by a Cypriot head of state to Kazakhstan since diplomatic relations began in 1992. During talks with Kazakh President Kassym-Jomart Tokayev on June 3, the countries signed agreements covering higher education, science, ICT, e-government, space activities and cybersecurity.

One memorandum between Cyprus’ Deputy Ministry of Research, Innovation and Digital Policy and Kazakhstan’s Ministry of Artificial Intelligence and Digital Development established a framework for cooperation in ICT, e-government, space and cybersecurity. A separate agreement between the education ministries covers higher and postgraduate education and science.

Skourides said the focus is now shifting to implementation, with discussions covering links between research institutions, universities and innovation ecosystems, as well as potential joint projects and expertise exchanges.

AI And Space Technology Take Priority

Artificial intelligence, space technology and applied research are among the main areas identified for cooperation. Skourides also highlighted the potential role of Cyprus’ Centres of Excellence and research infrastructure.

AI has already featured prominently in bilateral engagement. During the June visit, the Cypriot delegation toured Kazakhstan’s alem.ai International Artificial Intelligence Centre in Astana and received a briefing on AI and digitalization.

Cyprus is also implementing its National AI Strategy 2032. Skourides said international partnerships can help strengthen the country’s capabilities and support practical benefits for both economies and societies.

Broader Bilateral Ties

Technology cooperation is part of a wider effort to expand relations following Christodoulides’ visit. Cyprus opened its first embassy in Central Asia in Astana, while a Cyprus-Kazakhstan Business Forum brought together more than 70 representatives from both countries.

Zhumakanov, Kazakhstan’s first resident ambassador to Cyprus, has invited Skourides to participate in an AI conference in Kazakhstan in October. Skourides said he looked forward to advancing “concrete initiatives” in research and AI.