Choosing between a real and artificial Christmas tree is an annual dilemma, but the environmental impact depends on more than the type of tree. Its production, transport, how long it is used and what happens to it after the holidays all matter.

Artificial trees can spread their manufacturing footprint over many years, while locally grown real trees can be a lower-impact option if responsibly sourced and properly recycled. Renting a living tree is another alternative.

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Artificial Trees Need Years Of Use To Be Sustainable

The environmental case for artificial trees depends largely on how long they remain in use. Manufacturing and transporting plastic trees generates emissions, which are spread over each year of use.

According to the Carbon Trust, an artificial tree needs to be used for seven to 20 years to have a lower carbon footprint than a real one.

However, some consumers replace artificial trees much sooner. Research published in 2017 found that 14% of artificial-tree buyers in the UK planned to discard theirs after just one season.

“If you’ve got a fake tree already, keep using it – make it last as long as possible,” says Emi Murphy, a tree campaigner at Friends of the Earth. She recommends considering more sustainable alternatives when an existing tree eventually needs replacing.

Buying a secondhand artificial tree from a charity shop or online marketplace can also avoid the environmental costs of manufacturing a new one.

Choosing A Responsibly Grown Real Tree

For households that do not plan to keep an artificial tree for many years, a fresh-cut tree may be a better option, particularly if it is grown locally and responsibly.

Certification from the Forest Stewardship Council (FSC) can help identify trees from responsibly managed sources. Buying locally can also reduce transport emissions, as many trees sold across Europe are shipped from major producers in countries such as Denmark and Germany.

Consumers can ask suppliers where their trees were grown and how the land is managed. Buying directly from a nearby farm can also support regional growers.

Renting A Living Christmas Tree

Renting a potted tree offers another option. Customers receive a living tree for the holiday season and return it afterwards so it can be cared for and reused.

London Christmas Tree Rental delivers potted trees in early December and collects them after the holidays. Co-founder Catherine Loveless said the idea came from concerns about trees being grown for only a few weeks of use before being discarded.

“It just felt so wasteful for these beautiful trees to grow just for the sake of three weeks of our pleasure,” Loveless told Euronews Earth.

However, the environmental benefits depend on whether the tree stays healthy, survives after collection and can be reused in subsequent seasons. Transport and ongoing care also need to be considered.

How To Dispose Of A Christmas Tree

What happens after the holidays is another important part of a tree’s environmental footprint.

According to the Carbon Trust, an average two-metre real tree sent to landfill produces around 16 kilograms of carbon dioxide, as well as methane during decomposition. Chipping or burning the tree can reduce its carbon footprint by up to 80%.

Households should check whether their local authority offers Christmas tree collection. Collected trees may be chipped for paths or composted for use in public green spaces.

Artificial trees are more difficult to recycle because they combine materials such as plastic and metal. If a tree is still in good condition, donating it to a charity, church or community organisation can extend its useful life and prevent unnecessary waste.

Which Christmas Tree Is The Best Choice?

There is no single answer for every household. Keeping an artificial tree for as long as possible is often the most practical option if you already own one. Those buying a real tree can reduce its impact by choosing a responsibly grown local option and arranging proper recycling. Renting a living tree may also work where providers can reliably collect, maintain and reuse it.

Ultimately, the most sustainable choice depends on making the tree last, reducing unnecessary transport and planning how it will be reused or disposed of after the holidays.

The sudden departure of Nvidia CEO Jensen Huang, mounting concern about an AI investment bubble and the growing cost of U.S. government debt dominated the final day of Web Summit in Lisbon on Thursday. Speakers at one of Europe’s largest technology conferences warned that strain in public debt markets could become a catalyst for the next financial crisis.

The discussion, moderated by Euronews, brought together Adam Kobeissi, founder and editor-in-chief of capital markets publication The Kobeissi Letter, and economist James Galbraith, a professor at the University of Texas at Austin.

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Thursday’s packed schedule followed the cancellation of Wednesday’s programme on Portuguese government advice, ahead of Storm Charles. The storm ultimately brought Lisbon heavy rain and minor flooding, rather than the severe conditions authorities had anticipated.

Why Huang’s Departure Matters To Investors

Huang stepped down on Thursday after revelations of two extramarital affairs. U.S. intelligence reportedly suspects one of the women of spying for China, an allegation Beijing has rejected. Nvidia chief financial officer Colette Kress is serving as interim CEO while the board seeks a permanent successor.

Nvidia shares fell about 15% at the opening bell before recovering some ground. At the time of writing, the stock was down a little more than 5% for the day, at approximately $164 a share. That leaves it more than 30% below its October 5 all-time high of $243.

Kobeissi said Huang should not have resigned, arguing that his exit would be “a net negative for investors” over the next couple of years. He nevertheless remained bullish on Nvidia’s longer-term prospects.

He does not expect the leadership change to affect next week’s planned stock market debut of Anthropic, the company behind the Claude AI models, which is seeking a valuation of up to $1.4 trillion. Nvidia is among seven technology companies that have agreed to buy shares at the offering price.

The AI Race May Test Big Tech’s Spending

Galbraith said Chinese technology could eventually undercut Nvidia’s, raising questions about the hundreds of billions of dollars Microsoft, Alphabet, Amazon, Meta and other hyperscalers are investing in AI infrastructure.

He described the competition as a contest between different economic systems. The United States makes it easier to raise private capital quickly, but can be slower to set policy and make decisions. China, by contrast, can centralize research, technology development and deployment, while intervening more directly in its economy.

Given those differences, Galbraith said he would “tentatively bet on China” in the AI race—and suggested the country could become the world’s largest economy in the coming decades. His assessment underscores a strategic risk for U.S. technology companies: heavy investment in AI does not guarantee that American firms will retain a lasting competitive advantage.

Debt Interest Is A Growing Economic Risk

The panel also pointed to the U.S. government’s interest bill as a vulnerability. Kobeissi said roughly one in every five dollars the government spends goes toward interest on its debt, rather than reducing the principal. U.S. Treasury data show net interest costs reached $1.1 trillion in the fiscal year ending in September—about 19% of federal revenue.

“U.S. debt to GDP ratio is at World War II levels,” Kobeissi said, adding that the debt market was signaling a “higher for longer” interest-rate environment. He warned that, on the current trajectory, the United States faced a “100% chance of bankruptcy,” and argued that central banks could not bring rates down in the prevailing conditions.

Kobeissi tempered that warning: He said the United States was not facing an imminent 2008-style crisis, while cautioning that trends over the next 10 to 20 years were concerning. He also described himself as “a huge bull” on the country, citing the resilience of its economy and the pace of innovation.

Political Divisions Could Complicate A Response

Galbraith recalled that during the COVID-19 pandemic, President Donald Trump and a Democratic-controlled House cooperated on relief measures to stabilize markets. He questioned whether the same degree of political cohesion would be available in a future crisis.

In the recent U.S. midterm elections, Democrats won 255 House seats to Republicans’ 169, according to the Associated Press count cited at the time, with some races still being tabulated. The unresolved contests added uncertainty to an already divided political landscape.

Asked to predict when a financial crisis might occur, Galbraith said the defining feature of such events is that they cannot be foreseen. The panel’s broader message was less about timing than vulnerability: elevated debt costs, questions about AI investment returns and geopolitical competition are risks that markets and policymakers cannot afford to treat in isolation.

Cyprus generated 3,206 tonnes of textile waste in 2024, compared with 12,793 tonnes in Greece, according to Eurostat data on waste across the European Union.

The island produced 4.04 million tonnes of waste overall, including 2.1 million tonnes excluding major mineral waste. Greece generated around 30 million tonnes. Across the EU, textile waste amounted to approximately 2.27 million tonnes out of nearly 2.2 billion tonnes of total waste.

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Households Generate More Than Half Of Textile Waste

Households accounted for more than half of the EU’s textile waste in 2024. Of the approximately 2.3 million tonnes generated, 1.4 million tonnes were treated, representing 63% of the total.

Italy recorded the highest volume of textile waste, at 441,736 tonnes, followed by France with 339,965 tonnes and Germany with 212,107 tonnes.

Italy also treated and recycled the largest amount, at 280,680 tonnes. France treated 258,129 tonnes, while Germany treated 207,156 tonnes.

Recycling Accounts For Most Textile Waste Treatment

Recovery operations represented 91% of textile waste treatment across the EU. Recycling accounted for 78% of treated material, while incineration with energy recovery made up 13%. Landfill accounted for 8%, with incineration without energy recovery representing the remaining 1%.

Italy and France recorded the highest recycling shares, each recycling 98% of treated textile waste. Lithuania followed at 87% and Slovenia at 83%.

However, recycling rates varied considerably. Latvia reported no textile recycling, while Estonia recycled 5%. Romania recorded a rate of 23%, although its figure relates to 2022.

The data highlight significant differences in how EU countries manage textile waste. While recycling accounts for most treated material across the bloc, national results vary widely, pointing to uneven progress in waste management.

The value of agricultural output across the European Union reached a record €558.7 billion in 2025, up 4.8% from the previous year. However, growth was uneven, with 22 of the bloc’s 27 member states recording increases, while Cyprus and four other countries saw declines.

According to Eurostat’s 2025 Economic Accounts for Agriculture, Cyprus’s agricultural output value fell by 1.8%, placing it among the weakest performers in the EU.

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EU Agricultural Value Added Rises 8.8%

The total value of EU agricultural output increased from €532.9 billion in 2024 to €558.7 billion in 2025. Intermediate consumption, covering the goods and services used in production, also rose by 1.8% to €309.1 billion.

Despite higher production costs, gross value added in the agricultural sector grew by 8.8%, reaching €249.5 billion.

Crops And Livestock Drive Growth

Crop production accounted for €273.2 billion, or 48.9% of total EU agricultural output. Animal production and animal products contributed €238.2 billion (42.6%), while agricultural services and secondary activities made up the remaining €47.3 billion (8.5%).

The value of crop production increased by 1.6% compared with 2024, while output from animals and animal products recorded stronger growth of 9.2%.

Cyprus Among Five EU Countries With Declining Output

Cyprus recorded a 1.8% decline in agricultural output value, alongside Greece, Portugal, Finland and Malta. Greece experienced the steepest fall, at 2.9%, while declines in the other three countries were each below 1%.

Romania recorded the strongest growth, with agricultural output value rising by 13.6%. The Czech Republic, Ireland, Estonia, Slovakia and Austria also reported increases exceeding 10%.

The figures highlight the contrast between the EU’s record agricultural output and the uneven performance of individual member states, with Cyprus among the few countries that failed to share in the sector’s overall growth.

Maria Theocharous has been elected president of the Limassol Chamber of Commerce and Industry (Evel), taking over from Yiannis Tsouloftas for a three-year term covering 2026–2029. Theocharous previously served as the chamber’s vice-president for tourism.

The leadership transition marks a new chapter for one of Cyprus’ main regional business organisations, with the new board set to represent the district’s key economic sectors.

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New Leadership Emphasises Cooperation

The chamber’s annual meeting brought together government, business and local authority representatives, including Energy, Commerce and Industry Minister Michael Damianos, Cyprus Chamber of Commerce and Industry (Keve) president Stavros Stavrou, Limassol district local government organisation president Yiannis Tsouloftas and Limassol mayor Yiannis Armeftis.

Speakers highlighted the importance of closer cooperation between public authorities and businesses in supporting Limassol’s economic development.

Representatives of the Cyprus Shipping Chamber (CSC) also congratulated Theocharous on her election and thanked the outgoing president for his cooperation. The CSC described Evel as a longstanding partner, noting the chamber’s contribution to Limassol’s business development over more than six decades.

Tsouloftas Reviews Six Years As President

In his final address, Tsouloftas reviewed the chamber’s work between 2020 and 2026, highlighting its advocacy for major infrastructure projects and efforts to address development challenges across the district.

He also outlined initiatives to remove obstacles facing local businesses, accelerate development plans and improve the conditions for economic activity.

Tsouloftas will remain involved as immediate past president, providing continuity during the transition.

New Board Covers Key Business Sectors

The new board includes representatives responsible for the chamber’s main portfolios:

• Ilikos Charalambous, vice-president for commerce
• Vasos Demetriades, vice-president for industry
• Christos Nicolaou, vice-president for services
• Nicolas Agiomamitis, vice-president for tourism
• Ilias Theodorou, vice-president for finance
• Demosthenes Mavrellis, vice-president for innovation and technology
• Ilias Neocleous, honorary secretary

Other board members are Minos Agathocleous, Marios Antoniou, George Demetriou, Anastasios Kounoudis, Marios Constantinou, Xanthos Nemptsas, Antonis Pappas, Charalambos Pattichis, Chrysis Petousis, Farah Shammas, Andreas Tsouloftas and Kyriacos Hadjiathanasiou.

Costas Ioannides, Agathi Katsi, Anna Petraki, Filippos Filis and Tonis Hadjiloucas have been appointed members by distinction. The chamber also highlighted the growing participation of women in business leadership and decision-making.

Chamber Recognises Longstanding Contributions

The annual meeting also recognised businesses and individuals for their contributions, including members who have maintained continuous membership for 50 years.

Tributes were paid to three former contributors to the chamber, Tonis Antoniou, Dimi Mavropoulos and Andreas Laou, in recognition of their service.

Under Theocharous’ leadership, Evel begins its 2026–2029 term with a board covering commerce, industry, services, tourism, finance and innovation. Its priorities include continuing to represent Limassol businesses and advocating for the investment and cooperation needed to support the district’s economic growth.

Household electricity and gas prices declined across the European Union in the first half of 2026, but the trend may not last. Rising wholesale energy costs following the escalation of conflict in the Middle East could push household bills higher later this year and into 2027.

According to Eurostat, electricity prices varied more than threefold across EU countries. Ireland recorded the highest rates in euro terms, while Hungary had the lowest. Adjusting for purchasing power, however, placed Romania at the top of the ranking.

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Electricity Prices Vary Widely Across Europe

In the first half of 2026, household electricity prices, including taxes, ranged from €6.60 per 100 kWh in Turkey to €38.70 in Ireland across 38 European countries. Hungary had the lowest price in the EU, at €11.40, compared with the EU average of €28.30.

Germany (€36.20), Belgium (€35.80), Austria (€32.60), Italy (€31.40) and Sweden (€30.60) also recorded prices above the EU average. Spain (€25.10) and France (€24.90) were below it.

After adjusting for purchasing power standards (PPS), Romania recorded the highest electricity price, at 46.9 PPS per 100 kWh, followed by Poland (41.1) and Czechia (34.3). Iceland had the lowest adjusted price at 12.6, followed by Turkey (13.5), Malta (13.8) and Hungary (14.7).

Among the EU’s four largest economies, Italy had the highest adjusted price at 32.8, closely followed by Germany at 32.4. Spain stood at 28.0, near the EU average of 28.4, while France recorded 23.3.

Electricity Prices Decline, But National Trends Differ

EU electricity prices fell by an average of 2.2% compared with the second half of 2025. Finland recorded the largest increase, at 19.5%, followed by Turkey (11.2%), Poland and Lithuania (10.6% each), and Sweden (10.4%). Denmark and Luxembourg saw the sharpest declines, at 28.2% and 24.1%.

Prices fell in Germany by 6.5%, Spain by 6% and France by 3%, while Italy recorded a 5.9% increase. Year on year, the EU average declined by 1.6%. Romania had the largest increase, at 51.9%, followed by Turkey (35%), Ireland (19.8%) and Finland (18.4%). Prices declined in all four of the EU’s largest economies: France (-7%), Germany (-5.7%), Italy (-4.5%) and Spain (-3.9%).

National taxation, network charges, energy sources and supplier pricing help explain these differences. Professor Xiaoyi Mu, director of the Centre for Energy, Petroleum and Mineral Law and Policy at the University of Dundee, has highlighted the significant role of taxes and network costs in household bills.

For example, Denmark temporarily reduced its electricity tax by around €0.10 per kWh from January 1, 2026, while Finland introduced no comparable relief. Energy market intelligence firm VaasaETT, which helps compile the Household Energy Price Index, also identifies national energy mixes, tariff structures and the allocation of system costs as important factors.

Sweden Records Europe’s Highest Household Gas Prices

Household gas prices ranged from €1.60 per 100 kWh in Georgia to €22 in Sweden across 29 European countries. Hungary had the lowest price in the EU, at €3.30, compared with the EU average of €11.

The Netherlands recorded €16.20, followed by France (€13.50), Portugal (€12.60) and Austria (€12.40). Germany (€11.60) and Italy (€11.40) were also above the EU average, while Spain stood at €7.90.

After adjusting for purchasing power, North Macedonia had the highest gas price, at 20.8 PPS per 100 kWh, followed by Sweden (17.7) and Portugal (15.0). Hungary recorded the lowest figure at 4.3, ahead of Turkey (5.0), Luxembourg (6.6) and Croatia (6.8).

EU household gas prices fell by an average of 10.2% compared with the second half of 2025. Italy recorded the largest decline, at 23.2%, followed by Spain (17.6%) and Greece (16%). Turkey saw the largest increase, at 12.9%, while prices in Romania rose by 6.3%.

Year on year, EU gas prices declined by 3.5%. France was the only one of the four largest EU economies to record an increase, at 3.7%.

Higher Wholesale Costs Could Reach Households In 2027

The first-half figures capture only the initial months following the start of US and Israeli strikes on Iran in late February. Higher wholesale energy costs may take months to appear in household bills.

“There is always a lag between the benchmark wholesale natural gas price (TTF) and the prices paid by households,” Mu told Euronews Business. Depending on the structure of national retail markets, the delay can range from several months to more than a year.

Fixed-price contracts and advance energy purchases by suppliers can postpone the impact of wholesale market changes on household tariffs.

Mu also noted that falling wholesale gas prices had helped reduce household costs in the first half of 2026. Europe’s benchmark wholesale gas price declined by 19% in the second half of 2025 compared with the first half of that year, and was 14% lower than in the second half of 2024.

However, the subsequent increase linked to the Middle East conflict could reverse some of that relief. Mu warned that household bills may rise in the second half of 2026, with a greater impact in the first half of 2027.

Recent data already indicate upward pressure. Across European capitals tracked by the Household Energy Price Index, gas prices rose by an average of 12% between February 2 and September 1, while electricity prices increased by 4.2%. The October update recorded electricity price increases in 21 of 33 monitored capitals and gas price increases in 14 of the 27 capitals with available data.

Cyprus needs to move beyond announcing artificial intelligence ambitions and focus on integrating the technology into businesses, public services and the wider economy, Democratic Rally (DISY) president Annita Demetriou said.

Speaking at a press conference titled “Artificial Intelligence, Competitiveness and Economic Growth”, Demetriou warned that Cyprus risks falling behind despite strong public interest in AI.

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Cyprus Faces An AI Adoption Gap

More than four in 10 people in Cyprus used AI in the previous year, placing the country among Europe’s leaders in individual adoption. However, local businesses rank near the bottom in AI use, while citizens also lag in advanced digital skills.

“The problem is not the people or the businesses. It is the policy gap. And policy must close it,” Demetriou said.

She criticised the government’s ambition to make Cyprus a regional AI hub, arguing that it lacks sufficient planning for energy demand, clear budget commitments and effective workforce reskilling measures.

Six Priorities To Accelerate AI Adoption

DISY outlined six priorities to turn AI into a driver of economic growth:

1. Reskill Workers: Establish funded training programmes supported by tax incentives.
2. Support Businesses: Offer tax incentives and exemptions to encourage AI integration.
3. Attract Investment: Bring international companies with significant AI operations to Cyprus.
4. Modernise Public Services: Connect government systems, reduce bureaucracy and improve services.
5. Secure Affordable Energy: Ensure sufficient capacity and competitive electricity prices for digital infrastructure and data centres.
6. Protect Rights: Safeguard personal data, privacy and human rights through effective oversight.

“Our answer is not to stop technology. Our answer is to ensure no one is left behind. Reskilling becomes a social policy priority,” Demetriou said.

Public-Sector Reform Is Essential

Konstantinos Mountoukkos, who oversees digital policy, research and innovation on DISY’s Council for Monitoring Government Work, argued that AI adoption requires changes to public administration, not just new technology.

He called for secure interoperability between government systems, a move from pilot projects to practical implementation and stronger safeguards against inaccurate outputs, privacy breaches and cybersecurity threats.

Mountoukkos also urged the government to modernise technology procurement. Digital projects should have clear objectives, timelines and measurable results, including their cost, time savings and impact on public services.

Skills Will Determine Cyprus’s Competitiveness

Michalis Ioannidis, head of DISY’s Council for Monitoring Government Work, described AI adoption as a social policy priority. DISY spokesperson Onoufrios Koullas warned that without adequate training, Cyprus could lose ground in workforce productivity and economic competitiveness.

The party said it would present further proposals on managing the risks associated with AI and digital life at a future press conference.

The central challenge for Cyprus is to turn public interest in AI into wider business adoption, a more skilled workforce and measurable improvements in public services.

Cyprus aims to develop at least 3,000 artificial intelligence professionals by 2032, while expanding access to AI skills and technology across businesses and society. Government officials and industry leaders have warned that without broader adoption, the technology could deepen existing inequalities and concentrate economic power.

The issue was discussed at the 22nd Annual Economist Cyprus Summit in Nicosia during a session titled “Artificial Intelligence: Driving Growth or Deepening Inequality?”, featuring Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou and Greece’s Secretary-General for Information Systems and Digital Governance, Demosthenes Anagnostopoulos.

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Cyprus Introduces Three AI Skills Initiatives

Damianou outlined three initiatives aimed at strengthening AI literacy and preparing workers for changes in the labour market.

The AI Literacy Framework will introduce artificial intelligence and critical thinking into schools while keeping teachers in control of the learning process. A National AI Skills Observatory will align training with labour-market needs, while FutureAI CY will provide reskilling programmes for workers and small businesses.

Together, these initiatives form what Damianou called a “Social Contract for AI”, intended to ensure that technology “empowers people rather than silently replacing them”.

He stressed that access to AI models and shared computing infrastructure would be essential to preventing the technology’s benefits from being concentrated among a small number of large providers.

“The bottleneck is not the machine. It is our organizations,” Damianou said, arguing that productivity gains depend on how effectively businesses and public institutions adapt their operations.

“AI will drive growth. Whether it widens inequalities is a matter of choice, and we have time to act,” he added.

AI Adoption Gap Risks Widening Inequality

Anagnostopoulos warned that the gap between organisations able to use AI effectively and those falling behind could become a major source of economic inequality.

While AI has considerable potential to increase productivity, its benefits could remain concentrated among a limited number of companies and economies. Governments, he argued, should act not only as regulators but also as enablers of adoption across the public and private sectors.

Figures cited during the discussion highlighted the uneven pace of adoption. In 2025, an estimated 50% to 55% of large European businesses used AI tools, compared with just 17% of small businesses.

Adoption also varied significantly between countries, reaching around 42% among businesses in Denmark but remaining close to 9% in Greece and Cyprus.

Greece Expands Access Through Training And Infrastructure

Anagnostopoulos highlighted Greece’s efforts to broaden access to digital tools, including 60,000 licences distributed to public-sector employees and training for 30,000 workers. Free training programmes have also been made available to the wider public.

The country is investing in computing infrastructure through the Daedalus supercomputer, ranked 31st globally, which is expected to begin providing AI services, training and model-running capabilities the following month.

He also pointed to the Pharos ecosystem, designed to support model development and encourage wider AI adoption.

The discussion underlined a shared challenge for Cyprus and Greece: investment in AI infrastructure must go hand in hand with skills development, broader access and organisational changes that allow businesses and public institutions to use the technology effectively.

HELLENiQ ENERGY plans to invest more than €1 billion in Romania by 2030, expanding its renewable energy and battery storage operations as it seeks to strengthen its position across south-eastern Europe.

The programme supports the group’s medium-term goal of exceeding 2 gigawatts of installed renewable energy capacity by 2030, the company said.

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Building A Renewable Energy Portfolio

Through its subsidiary HELLENiQ Renewables, the group currently operates 211 megawatts of photovoltaic projects in Romania. A 96MW wind farm is also under construction, with completion scheduled for the second quarter of 2027.

Beyond its operating assets and the wind project, HELLENiQ ENERGY’s Romanian development portfolio includes more than 800MW of renewable energy projects and 500MW of battery energy storage systems.

Storage And Grid Flexibility

The planned investments are expected to support Romania’s energy security and help integrate a larger share of renewable electricity into the national power system.

Energy storage can help balance fluctuations in renewable generation, while additional capacity and flexibility can strengthen the grid’s ability to accommodate more clean power. HELLENiQ ENERGY said its projects would contribute to the resilience and flexibility of Romania’s electricity network.

A Broader Regional Strategy

The Romanian expansion is part of HELLENiQ ENERGY’s wider effort to build a diversified energy portfolio across south-eastern Europe. Renewable generation and energy storage are central to the group’s growth strategy as it pursues its 2030 capacity target.

Banks in Cyprus continued to offer lower returns on deposits than the eurozone average in September 2026, while households taking out new housing loans benefited from lower borrowing costs. Figures published by the Central Bank of Cyprus (CBC) also reveal significant differences between banks, particularly in interest rates on smaller business loans.

Deposit Rates Remain Below Eurozone Average

The average interest rate on new household term deposits with a maturity of up to one year stood at 1.62% in Cyprus, compared with 2.33% across the euro area. For non-financial corporations, the average was 1.70%, against 2.46% in the eurozone.

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Among the banks listed by the CBC, Ancoria Bank offered the highest rate on household deposits of up to one year, at 1.88%, followed by National Bank of Greece (Cyprus) at 1.83% and Eurobank at 1.70%. Alpha Bank Cyprus offered 1.60%, Cyprus Development Bank 1.57%, Societe Generale Bank Cyprus 1.52% and Bank of Cyprus 1.34%. The Housing Finance Corporation recorded the lowest rate, at 0.99%.

For corporate deposits, Alpha Bank Cyprus led with 1.98%, narrowly ahead of National Bank of Greece (Cyprus) at 1.96%. Eurobank offered 1.75%, followed by Cyprus Development Bank at 1.57% and Bank of Cyprus at 1.31%. The Housing Finance Corporation recorded 0.99%, while Societe Generale Bank Cyprus offered 0.90%.

Housing Loans Cost Less Than Eurozone Average

Households taking out new housing loans in Cyprus faced an average interest rate of 3.24% in September, below the eurozone average of 3.64%.

Alpha Bank Cyprus offered the lowest rate among the listed institutions, at 2.80%, followed by Eurobank at 3.21%. Ancoria Bank recorded 3.27% and Bank of Cyprus 3.37%, while the Housing Finance Corporation had the highest rate, at 3.55%.

Business Loan Rates Vary Across Banks

Interest rates on new business loans depended on the amount borrowed. For loans of up to €1 million, the average rate in Cyprus was 4.67%.

Alpha Bank Cyprus offered 4.28%, followed by Eurobank at 4.34% and National Bank of Greece (Cyprus) at 4.40%. Bank of Cyprus recorded 4.86%, while Societe Generale Bank Cyprus charged 5.70%. The highest rates in this category were reported by Banque SBA at 7.46% and Cyprus Development Bank at 7.90%.

For loans exceeding €1 million, the average rate was lower, at 4.15%. Alpha Bank Cyprus recorded the lowest rate, at 3.81%, followed by Bank of Cyprus at 4.22%, Eurobank at 4.42%, Ancoria Bank at 4.44% and National Bank of Greece (Cyprus) at 4.59%.

The figures highlight considerable differences in borrowing costs between lenders, particularly for smaller businesses. Actual rates offered to borrowers may also depend on individual loan characteristics.

Data Cover New Deposits And Loans

The CBC figures relate to new deposit and lending business conducted in September 2026. They do not cover the outstanding stock of existing deposits and loans, which may carry different interest rates.