Regional Banks Enter A More Favorable Cycle

Bank of Cyprus and Eurobank are well positioned to benefit from a renewed re-rating of Greek and Cypriot bank stocks, according to Cyprus-based investment firm Roemer Capital, which upgraded Bank of Cyprus to a buy rating and reaffirmed its positive view on Eurobank.

The firm cited easing geopolitical tensions, resilient economic growth in Greece and Cyprus, lower funding costs and Greece’s expected transition to developed-market status as the main factors supporting the sector.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Roemer Capital also lowered its cost of equity assumptions, updated its forecasts following first-quarter 2026 results and extended its valuation horizon to the end of 2027, raising target prices across its banking coverage.

Bank Of Cyprus Gets The Largest Upgrade

Bank of Cyprus received the biggest revision, with Roemer Capital upgrading the stock from hold to buy and setting a target price of €11.10, implying potential total upside of 27%.

The firm highlighted the bank’s strong capital generation, profitability and projected 100% dividend payout, describing it as the strongest capital-return story among the banks under coverage. Roemer Capital maintained its buy rating on Eurobank, assigning a target price of €4.90 and forecasting potential upside of 28%. The report said the bank is well placed to benefit from loan growth, improving operating performance and merger-and-acquisition synergies.

National Bank of Greece and Piraeus Bank also retained buy ratings, with expected returns ranging from 25% to 36%. Optima Bank was upgraded to buy, while Alpha Bank remained at hold on valuation grounds.

Why Growth Still Sets The Region Apart

According to Roemer Capital, Greek and Cypriot banks continue to benefit from stronger economic fundamentals than many western European peers. The report pointed to faster economic growth, healthier balance sheets, low levels of non-performing exposures, capital ratios approaching 20% and strong customer deposit bases.

Analysts expect performing loans across the sector to grow at a compound annual rate of 6% to 8% through 2028, supported by private investment, digitalisation, green manufacturing, supply-chain expansion and a gradual recovery in household lending.

The report also said the conclusion of lending under the EU Recovery and Resilience Facility is unlikely to materially affect credit growth, as banks have already shifted back towards traditional commercial lending. Roemer Capital expects Euribor to remain between 2.2% and 2.5%, a level it believes should support both lending activity and net interest margins.

Geopolitics, Valuation And Market Structure Support The Case

The report said improving geopolitical conditions have strengthened the investment outlook, noting that Brent crude prices have largely returned to pre-war levels while Greek government bond yields have stabilised at around 3.5%. Although geopolitical risks remain, Roemer Capital believes the likelihood of a major inflationary shock or significant pressure on bank profitability has eased.

Another important catalyst identified by the firm is Greece’s expected promotion to developed-market status by FTSE Russell, STOXX and MSCI over the coming months.

According to the report, the reclassification should improve liquidity and attract a broader base of international investors. Roemer Capital also said Euronext’s acquisition of the Athens Exchange is expected to strengthen market infrastructure and increase international visibility, particularly for Bank of Cyprus and Optima Bank.

The firm noted that Bank of Cyprus has already benefited from its Athens listing, with average daily trading value increasing from less than €400,000 before its September 2024 move to nearly €6 million afterwards.

Economic Momentum Remains A Core Tailwind

Roemer Capital said both Greece and Cyprus have moved beyond post-crisis recovery and are now supported by private-sector-led growth. For Cyprus, the report highlighted recent tax reform and efforts to simplify the legal and regulatory framework, while also noting that limited foreign banking competition continues to support domestic lenders.

Overall, Roemer Capital expects Greek and Cypriot banks to remain well-positioned for profitable loan growth over the coming years.

Hourly-paid government employees in Cyprus staged the first 24-hour strike of its kind on Wednesday, marching from the Ministry of Finance to the Presidential Palace as they demanded higher wages and the renewal of their collective agreement.

Protesters gathered outside the Ministry of Finance before marching to the Presidential Palace, chanting slogans including “No to starvation wages” and “Enough of the mockery, we are not second-class workers.” Union representatives later delivered a memorandum to the President of the Republic, calling for his intervention in negotiations with the finance ministry.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

According to the unions, hourly-paid government employees have received total wage increases of just 1.5% over the past 17 years.

A Broad Cross-Section Of The Public Sector Walks Out

The strike brought together workers from across the hourly government workforce, including skilled technicians, conservators of antiquities, builders, engine operators, road transport inspectors, cleaning staff, health services personnel, forest firefighters, firefighters and lifeguards.

Giorgos Constantinou, secretary-general of OEKDY SEK, said in a speech outside the Presidential Palace that this was the first time in the history of the Republic of Cyprus that hourly government staff had launched a 24-hour strike. “We are demanding wage increases,” he said, adding that it is “unacceptable” for the government to treat hourly staff unfavorably despite the essential work they perform in keeping the state machinery running.

Stavros Andreou, secretary-general of PASYEK-PEO, said the workers were demanding to be heard. “We are not beggars and we are not asking anyone for charity. We are asking the state to adopt policies that allow workers to live with dignity,” he said, noting that hourly government employees are paid at minimum-wage levels. He added that 30% of hourly government workers earn up to €1,500 a month.

Andreas Antoniou, secretary-general of DEE KDOKO DEOK, said hourly employees are low-paid and cannot keep pace with the demands of the modern economy. He noted that the overall increase since 2009 has been just 1.5%, despite Cyprus posting one of the strongest growth rates in Europe, and argued that wages should rise accordingly.

Their Case Before The President

In the memorandum submitted to the President of the Republic through government spokesman Konstantinos Letymbiotis, the workers asked for his intervention. “We address you with the expectation that you will intervene immediately so that an agreement can be reached for the renewal of the collective agreement for hourly government staff and wages can improve,” the document said.

The memorandum further argues that hourly government workers are paid significantly less than employees in comparable private-sector roles working the same number of hours per week.

It also states that, although the total public service payroll has increased, the cost of the hourly government workforce has declined and is now well below even its 2011 level. According to the unions, requests for wage increases have been on the table since April of last year.

Warnings Of A Broader Escalation

After the memorandum was delivered, Andreou said the government spokesman had committed to relaying the unions’ position to the president and the finance minister. The workers and unions, he said, would allow the government time to review the document before deciding their next move.

“If we do not receive a positive response, if the President of the Republic does not open the door to dialogue through his intervention, we will discuss among ourselves and respond in the coming period more dynamically, more massively and with different, perhaps more forceful, methods,” he said.

Constantinou said the unions had explained to the government spokesman the importance of hourly government staff to the functioning of the state. He said they had been assured that the President would be informed and that the Ministry of Finance would also be briefed, expressing hope that an agreement enabling pay increases could be reached in the coming days.

Antoniou added that the unions had explained to the spokesman that most hourly workers earn wages that “barely allow them to get by.” He said they hoped the message would reach the President so that, through his intervention, the finance ministry would enter into meaningful dialogue aimed at a swift agreement.

Workers Describe Strain On Household Budgets

Speaking to journalists, a health-sector employee said the workers are asking for the wage increases that have been delayed for years, as well as respect and dignity. Another health worker, who said she has been employed for a decade, reported a monthly salary of €1,000 and questioned how anyone can live with dignity on that income when monthly expenses are higher.

A district administration employee with 40 years of service said his salary had not risen above €2,000, describing it as a “starvation wage.” Another worker with 33 years of service said he could still not afford necessities.

A lifeguard said lifeguards are among the most disadvantaged hourly employees because they work on six-month contracts and receive no provident fund or other benefits. “The state should give us the basic rights every worker has so that young people will continue to see a future in the profession,” he said, adding that six-month contracts drive people away into other jobs.

Government Says Talks Will Continue

Government spokesman Konstantinos Letymbiotis said discussions would continue, noting that the finance ministry had viewed some of the unions’ requests positively during a meeting held the previous day. After receiving the memorandum, he said it would be forwarded to the President.

Letymbiotis also highlighted measures introduced by the government over the past three years, including wage progression under scale A2.5.7, the full restoration of the cost-of-living allowance, the recent tax reform and the 1.5% across-the-board increase for public-sector employees.

Responding to comments by Finance Minister Makis Keravnos that the demands could exceed €50 million, Letymbiotis said one wage-related request alone would cost around €30 million over three years.

“These are not insignificant amounts,” he said. “They are substantial sums that must be considered in relation to the rest of the public sector, to salary levels and to the state’s fiscal capacity.”

Cyprus’ tourism sector is adapting to a noticeable shift in traveller behaviour. The traditional pattern of booking summer holidays months in advance, giving hotels and tourism businesses clear visibility over demand, is gradually giving way to shorter booking windows.

More travellers are now making decisions much closer to departure, comparing prices across destinations, seeking greater flexibility and waiting longer before confirming their plans.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Rising living costs, geopolitical uncertainty and fluctuating transport prices have all contributed to this trend. For Cyprus, where tourism remains one of the economy’s key sectors, the change is reshaping how businesses plan and respond to demand.

The New Booking Horizon

International booking platforms indicate that forecasting tourism demand has become more challenging as booking windows continue to shorten. In many cases, a clearer picture of demand only emerges a few weeks before arrival.

For hotels, airlines and tourism businesses, that means making faster decisions on staffing, pricing and capacity while operating with less visibility than in previous years.

Shorter booking windows have also increased pricing pressure. Unsold rooms and airline seats are more likely to be discounted closer to departure, helping support occupancy but also creating pressure on profitability.

Cyprus Cannot Compete On Price Alone

Price, however, is only one part of Cyprus’ tourism offering. Safety, stability, hospitality, climate, culture and the overall visitor experience remain among the island’s strongest competitive advantages.

As travellers increasingly seek personalised experiences and authentic destinations, maintaining product quality may prove just as important as remaining price competitive.

That places greater emphasis on tools such as real-time market data, dynamic pricing and more targeted marketing in key source markets. Expanding conference, sports, cultural and gastronomic tourism could also help reduce seasonality and diversify demand throughout the year.

What The Next Phase Requires

Shorter booking horizons are becoming an increasingly important feature of the global tourism market, requiring destinations to adapt more quickly to changing consumer behaviour.

For Cyprus, the challenge extends beyond increasing visitor numbers. Maintaining the quality and long-term competitiveness of the tourism product will require continued investment in innovation, differentiation and visitor experience.

Air connectivity is also becoming increasingly important. As travellers make decisions closer to departure, flight availability and convenient connections can play a greater role in destination choice. Technology is likely to become another important differentiator. Access to real-time information on demand, pricing and traveller behaviour can help tourism businesses respond more quickly to market changes.

Meeting these challenges will require continued cooperation between the public and private sectors as Cyprus works to strengthen the resilience and competitiveness of its tourism industry.

Artificial intelligence is already reshaping the economy, labour market and education, but human judgment and values will remain essential, Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou said on Thursday during the University of Cyprus postgraduate graduation ceremony.

Speaking to graduates, Damianou said AI is no longer a prospect or a theoretical discussion, but a technology that is already influencing Cyprus’ economy, workforce and competitiveness.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

The Real Question Is Human, Not Technological

“The essential question remains the same and more important than ever: how do we ensure that technology serves humans and not the other way around?” Damianou said.

He referred to recent discussions at the G7, where world leaders met executives from major AI companies, including OpenAI, Google DeepMind and Anthropic. Damianou also cited OpenAI chief executive Sam Altman’s warning that governments should not outsource their responsibilities to AI companies.

According to the deputy minister, the challenge is not only to develop more advanced AI systems, but also to ensure they serve people, democracy and society.

Why Cyprus Must Move Quickly

Damianou said preparing the workforce for technological change will be critical to Cyprus’ future competitiveness.

Citing World Economic Forum estimates, he noted that around 39% of existing skills are expected to change or become less relevant by 2030, while six in 10 workers will require training or retraining within the next five years. He said those figures underline the importance of continuous learning throughout a person’s career.

Universities As Engines Of Adaptation

Universities, Damianou said, have an important role to play not only in producing knowledge, but also in helping societies innovate and adapt to change.

He described the University of Cyprus as the country’s leading institution for research, innovation and knowledge creation, highlighting its research activity, international partnerships and contribution to developing highly skilled talent. He also referred to the university’s continued presence in the QS World University Rankings 2027.

Policy, Talent And The Innovation Economy

Turning to government policy, Damianou said Cyprus is working to build a more competitive, outward-looking and technology-driven economy by strengthening links between research and business, supporting the responsible use of new technologies and promoting entrepreneurship.

He also referred to the Minds in Cyprus initiative, which aims to encourage Cypriot scientists and professionals living abroad to return and contribute to the country’s development.

According to Damianou, the objective is to ensure that young professionals have genuine opportunities to build their careers in Cyprus. “When I chose as a young scientist to return to Cyprus, the conditions and opportunities that exist today did not exist,” he said.

Cyprus Is Expanding Its Innovation Economy

Damianou said Cyprus has made significant progress in recent years. He pointed to the country’s highest economic growth rate in the European Union during the first quarter of 2026 and said the technology sector now accounts for around 15% to 16% of GDP, making it the fastest-growing part of the economy.

He also said Cyprus’ startup ecosystem has recorded the highest growth rate in Europe for the third consecutive year, with five times more startups than in 2020.

According to Damianou, Cyprus has strengthened its position as an emerging regional hub for innovation and technology.

Character Still Matters In The Age Of AI

Concluding his address, Damianou told graduates that technological progress does not diminish the importance of human judgment and values.

Using Michael Jordan as an example, he said success is shaped not by individual setbacks, but by the ability to keep moving forward despite uncertainty.

The International Maritime Organization (IMO) has temporarily suspended its evacuation plan for vessels trapped in the Persian Gulf after an attack on a merchant ship in the Gulf of Oman, underscoring how quickly security conditions in one of the world’s most sensitive waterways can destabilize global shipping.

The UN shipping agency said the decision followed an attack on a vessel that had passed through the Strait of Hormuz. Although the ship was not operating under the IMO evacuation framework, the incident was enough to halt a mission that had only just begun moving stranded ships and crews out of the region.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Safety Concerns Override Momentum

IMO Secretary-General Arsenio Dominguez said several vessels had already been successfully evacuated, but the organization needed to confirm that the required safety guarantees were still in place before proceeding.

“I have always reiterated that the safety of the seafarers remains paramount,” Dominguez said, adding that the evacuation plan would remain paused “until further clarity is obtained.”

The decision comes at a delicate moment for international shipping. The IMO launched the evacuation plan earlier this week, working with member states and industry after months of disruption around the Strait of Hormuz, one of the world’s most important energy and trade corridors.

The framework was designed to allow vessels to leave the Persian Gulf in a controlled, sequenced manner rather than create congestion in a narrow and heavily militarized passage. According to the IMO, roughly 11,000 seafarers were expected to be evacuated under the plan.

Reuters reported that by Wednesday morning, around 57 ships carrying about 1,100 seafarers had already used the routes before the pause was announced.

Attack In Gulf Of Oman Changes The Calculation

The latest incident followed reports from the UK Maritime Trade Operations agency that a vessel had been struck by an unknown projectile off the coast of Oman, damaging the bridge.

No casualties or pollution were reported. AP later cited a U.S. official as saying the ship had been hit by an Iranian drone, although the IMO neither identified the vessel nor attributed responsibility for the attack.

Iran has challenged routes developed without its full approval, maintaining that safe passage through the Strait of Hormuz should take place only through sea lanes recognised by Tehran. Authorities have also instructed vessels to remain in contact with naval forces through international maritime communication channels.

Why Cyprus Has A Direct Stake

Developments in the region are particularly relevant for Cyprus, one of Europe’s largest shipmanagement centres. According to the Shipping Deputy Ministry, 19 Cyprus-flagged vessels were operating in the Arabian Gulf earlier this week, with all ships and crews reported safe. Most operate permanently in the region, primarily providing specialised or auxiliary maritime services.

The Shipping Deputy Ministry has promoted Cyprus as the largest third-party shipmanagement centre in Europe and one of the three largest globally, with companies based on the island managing more than one-fifth of the world’s third-party fleet.

Greece Faces Even Greater Exposure

Greece also has significant exposure to developments in the region. The Union of Greek Shipowners says the country controls nearly 5,800 vessels, representing more than 19% of global tonnage and 61% of the European Union-controlled merchant fleet.

Earlier in the crisis, Greece’s shipping ministry advised Greek-flagged vessels to avoid the Persian Gulf, the Gulf of Oman and the Strait of Hormuz because of heightened navigation risks. Reuters also reported in March that at least 10 Greek-flagged ships were operating inside the Gulf, with five more just outside it, while more than 325 Greek-owned or Greek-managed vessels were present across the wider region.

Greek Shipping Minister Vassilis Kikilias described the situation as “alarming and worrying”, calling for commercial shipping to remain outside armed conflicts.

A Cautionary Pause, Not A Failure

Dominguez said the decision to pause the evacuation reflects the need to ensure the safety of seafarers before the operation resumes.

Coinciding with the Day of the Seafarer, held this year under the theme “Carrying world trade. Carrying the risks.”, the announcement also highlighted the importance of protecting thousands of seafarers in the Persian Gulf. Dominguez said they must not become victims of the ongoing geopolitical tensions.

Cyprus recorded a marginal improvement in economic sentiment in June 2026, according to the latest Economic Sentiment Surveys, with the Economic Sentiment Indicator (ESI) rising by 0.2 points from May.

The surveys, conducted monthly by the University of Cyprus Economic Research Centre in collaboration with RAI Consultants, track how businesses and households view current conditions and their expectations for the months ahead.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Retail, Construction And Consumers Lift The Index

The increase in the ESI was driven by stronger confidence in retail trade, construction and among consumers, offsetting weaker sentiment in the services sector. Despite the modest gain, the index remained above its long-term average of 100 points.

Sector Performance Remains Uneven

Retail and construction recorded improved sentiment, reflecting more positive assessments of current conditions and stronger expectations for the coming quarter. By contrast, confidence in services weakened as businesses reported less favourable assessments of current activity and lower expectations for turnover.

Manufacturing sentiment remained broadly unchanged, with weaker production expectations offset by an improvement in assessments of finished goods inventories.

Consumer Confidence Strengthens For A Second Month

Consumer confidence improved for a second consecutive month, supported by more optimistic expectations for household finances and the wider economy. At the same time, households reported a less favourable assessment of their recent financial situation.

Uncertainty Rises, But Inflation Expectations Stay Elevated

The Economic Uncertainty Indicator increased in June, although it remained below the levels recorded in March and April. The rise was driven mainly by services, construction and households.

Price expectations also remained elevated, indicating that inflationary pressures persist, albeit at a more moderate pace.

Cyprus’ petroleum market weakened in May 2026 despite a month-on-month recovery in fuel demand, while the government moved to extend reduced fuel duties to ease pressure on motorists.

Annual Sales Decline Despite Monthly Rebound

Total sales of petroleum products fell 5.1% year on year to 127,538 tonnes, according to figures released on Friday by the Cyprus Statistical Service (Cystat), reflecting weaker demand across most fuel categories.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

The sharpest annual declines were recorded in kerosene, down 23.6%, followed by asphalt (-20.8%), heavy fuel oil (-18.2%) and marine gasoil provisions (-13.3%). Heating gasoil fell 11.5%, aviation kerosene provisions declined 7.5%, road diesel dropped 4.1%, and motor gasoline edged down 0.3%. Light fuel oil was the only category to record growth, rising 19%.

Sales through filling stations also declined, slipping 2.6% to 56,867 tonnes.

Transport Fuels Drive Month-On-Month Recovery

Compared with April, however, petroleum sales increased 7.7%, supported by stronger demand for transport fuels.

Aviation kerosene provisions rose 13.2%, road diesel sales increased 8.8%, and motor gasoline climbed 8.3%. Marine gasoil provisions, by contrast, fell 8.9% from the previous month. Petroleum stocks at the end of May were 7.1% higher than a month earlier.

Despite the weaker annual performance in May, total petroleum sales for the first five months of 2026 remained 3.4% above the same period last year.

Government Extends Fuel Tax Relief

The figures come amid continued volatility in global energy markets and renewed efforts by the Cypriot government to offset the impact on consumers.

On Thursday, the House of Representatives unanimously approved a two-month extension of reduced fuel excise duties under an emergency procedure, keeping the measure in force until August 31, 2026. The extension preserves cuts of 8.33 cents per litre on petrol and six cents per litre on diesel. The government estimates the additional cost at about €12 million. The reduced duties had been due to expire at the end of June.

Officials said the extension was still necessary because energy prices remain above normal levels despite easing from earlier highs. “Prices are still at higher levels than normal, due to geopolitical developments,” government spokesman Konstantinos Letymbiotis said.

The measure was first introduced in March as part of a broader package of cost-of-living support.

Fuel Prices Still Higher Than A Year Ago

Separate Eurostat data published earlier this month showed that fuel prices in Cyprus remained 20.5% higher in May than a year earlier, broadly in line with the EU average increase of 20.7%.

Monthly price movements were mixed. Diesel prices fell 1.5% between April and May, while petrol prices increased 2.1%. Although overall inflation eased to 2.6% in May, fuel continued to contribute to consumer price pressures.

Geopolitics Keeps Oil Markets On Edge

International oil markets remain sensitive to developments in the Middle East. A recent agreement between Iran and the United States initially pushed prices lower, but uncertainty has persisted following signs of instability in the ceasefire and Iran’s renewed closure of the Strait of Hormuz over alleged violations.

Savvas Prokopiou, chairman of the Petrol Station Owners’ Association, said international oil prices had stabilised at around $78 to $80 per barrel and expressed support for extending the reduced excise duties. He said he expects further reductions in fuel prices in the coming days and argued that maintaining the measure would help motorists avoid a sudden increase of more than eight cents per litre once the temporary tax relief expires.

Strong interest in career opportunities in Cyprus and the incentives available to professionals considering a return was evident at two Minds in Cyprus events held in Birmingham and London, bringing together more than 350 Cypriot professionals working in the United Kingdom.

Held on June 22 in Birmingham and June 23 in London, the events featured 24 companies and organisations from Cyprus, showcasing more than 110 highly skilled job opportunities across key sectors of the economy.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

A Direct Link Between Cyprus And Its Global Talent Base

The initiative returned to the United Kingdom one year after its launch in London by President Nikos Christodoulides. Representing the government, Deputy Minister to the President Irene Piki outlined the programme’s progress over the past year, the incentives now available and the career opportunities emerging in Cyprus.

Designed to connect Cypriots living abroad with businesses and organisations operating on the island, the initiative attracted participants from fast-growing sectors including technology, fintech, financial and professional services, research, innovation and energy.

Showcase In London, Roundtable In Birmingham

The London event took the form of a career opportunities exhibition, while Birmingham hosted an open roundtable discussion on Cyprus’ economic prospects, labour market needs and efforts to strengthen ties with the Cypriot diaspora.

Piki said Minds in Cyprus is a coordinated initiative designed to position Cyprus as a credible option for professionals planning their next career move. The objective, she added, is not only to encourage Cypriots to return, but also to create the conditions that make returning to, or working with, Cyprus a realistic professional choice.

Economic Momentum Is Reframing The Case For Return

Referring to Cyprus’ economic performance, Piki pointed to strong growth, historically low unemployment, declining public debt and successive upgrades by international credit rating agencies. She said these developments are increasing demand for specialised talent, particularly in high value-added sectors.

Particular emphasis was also placed on the Opportunities for Talent platform, which already has more than 700 registered professionals and features over 330 specialised vacancies from companies and organisations in Cyprus.

Tax Relief And Practical Support Are Central To The Offer

Targeted tax incentives for professionals considering a return were also presented. These include a new 25% tax exemption on employment income for Cypriots who have lived abroad for seven years, alongside the existing 50% tax exemption available in specific cases. Officials said the measures are intended to reduce costs and uncertainty during the first years after relocation.

Alongside the tax incentives, the government presented practical support measures under the Minds in Cyprus action plan, including faster recognition of professional qualifications and licences, assistance with residence and work permits for spouses or partners, support for families relocating to Cyprus, and access to centralised information through the Information Hub.

Representatives from the Tax Department and the Research and Innovation Foundation also briefed participants on tax matters, funding programmes, research opportunities and innovation support tools.

Beyond Return: Keeping Cyprus Connected To Its Diaspora

Piki said the initiative is intended not only for those considering a return to Cyprus, but also for professionals who wish to remain connected to the country by collaborating with Cypriot businesses, sharing expertise or contributing to projects being developed on the island.

“Minds in Cyprus does not simply ask for a return,” she said. “It creates the conditions for the idea of returning or collaborating to become a real option.”

The events were organised by the government and Invest Cyprus, with the support of the Cyprus Chamber of Commerce and Industry, Cypriots in the City, and companies and organisations operating in Cyprus.

More broadly, the initiative forms part of the government’s strategy to attract and deploy talent, strengthen the competitiveness of the Cypriot economy and leverage the international experience of Cypriots living and working abroad.

The Cypriot banking sector remains in a strong position, supported by solid capital buffers and overall financial stability, according to speakers at the annual general meeting of the Association of Cyprus Banks. At the same time, government officials and regulators stressed that maintaining this position will require continued discipline and long-term planning.

A Strong Sector, But Not A Complacent One

Finance Minister Makis Keravnos used the meeting to highlight concerns over draft laws recently passed by parliament, which, according to the Ministry of Finance, the Central Bank and the Legal Service, may contain constitutional, legal and institutional issues. Those concerns, he noted, led to presidential referrals and remittals to the Supreme Court.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Keravnos also said the European Central Bank had been consulted on proposed measures concerning the suspension of foreclosures and the restructuring of loans and guarantees, adding that the ECB had expressed its own concerns.

Profitability Should Reflect Real Economy Lending

While acknowledging that the banking sector remains highly profitable, Keravnos said earnings are expected to reach around €1 billion in 2025, lower than in 2024 as interest-rate conditions gradually normalize.

He said he would prefer bank profitability to rely more on lending to businesses operating in productive sectors and less on the widening of European Central Bank interest-rate spreads.

According to the minister, Cyprus’ return to investment-grade status after 11 years has strengthened the country’s appeal to foreign investors, technology companies and startups. He said this should encourage banks to offer financing that better supports businesses while improving the diversification of their loan portfolios.

The Central Bank’s Warning: Strength Today Is Not A Guarantee Tomorrow

Central Bank Governor Christodoulos Patsalides also warned against complacency, saying the sector’s current strength should not be taken for granted.

“The Cypriot banking sector is strong today. But strength that truly matters is not exhausted by a capital ratio, a profit line or a favorable cycle,” he said.

Patsalides added that lasting resilience depends on institutions remaining strong as conditions change, risks become more complex, and competition evolves. In his view, that requires sufficient capital buffers, adaptable infrastructure and management teams prepared for changing market conditions.

Long-Term Resilience Over Short-Term Gains

Patsalides also stressed that banks should focus on long-term resilience rather than short-term performance. Decisions on dividend policy, capital allocation and the use of resources, he said, should take into account continued investment in technology, operational resilience, human capital and long-term adaptability.

He added that banks able to remain competitive over time will be those that invest early in strengthening their capacity to adapt and respond to future challenges.

Google has unveiled a dedicated mobile app for Google Finance, bringing watchlists, real-time market data, live financial news and the company’s AI-powered “Key Moments” feature into a single platform.

Google Finance Moves From Web Feature To Standalone Product

The new app is launching on Android first, with an iOS version expected in the coming months. Google says additional capabilities are on the roadmap, including the ability to listen to live earnings calls.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

For users, the pitch is straightforward: a faster, more centralized way to track markets and monitor portfolio activity. For Google, the opportunity is larger. By separating Finance into its own app, the company is making a clearer play for daily engagement in a category long dominated by established platforms such as Yahoo Finance and trading apps like Robinhood.

An AI Layer Designed To Explain Market Movement

One of the app’s key features is Google’s AI-powered “Key Moments” tool, which explains why a stock is moving. Rather than requiring users to piece together headlines and market data themselves, the feature is intended to provide context behind price movements.

Google Finance Web Experience Expands Beyond Beta

Alongside the app launch, Google said its revamped Google Finance web experience, first introduced last year, is now moving out of beta. The updated platform includes new portfolio functionality designed to give users a consolidated view of holdings and performance.

Existing Google Finance portfolios will automatically appear in the new experience. Users can also create new portfolios by uploading files or describing their investments to the chatbot, making setup more accessible for retail investors who manage assets across multiple accounts.

The rollout is global, and it marks a meaningful step in Google’s effort to turn Finance into a more comprehensive destination rather than a standalone market widget.

AI Research And Natural Language Tasks Add Another Layer

The company is also introducing an AI research tool that allows users to ask portfolio-specific questions, such as which sectors are underrepresented in their holdings.

In addition, Google has added a task feature that enables users to create recurring briefings, market summaries and performance updates using natural-language prompts. Once configured, these tasks run automatically in the background.

Google said the new portfolio and task features are available on the web starting today and will arrive on the mobile app in the coming months.