Courts Are Still Applying Old Copyright Rules To AI

AI companies train models on enormous amounts of published material, including books, articles and academic research. Whether using that content without authors’ permission violates copyright law remains unresolved.

Much of the debate centres on fair use, which allows copyrighted material to be used without permission in certain circumstances. Courts consider factors such as the purpose of the use, how much material was involved and its impact on the original market.

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Anthropic Case Sets An Important Precedent

A major case involving Anthropic and a group of authors provided one of the clearest rulings so far. Judge William Alsup found that using copyrighted books to train AI models was lawful, comparing the process to people reading and studying literature before creating something new.

Anthropic was nevertheless ordered to pay $1.5 billion in a settlement. The penalty concerned books the company had obtained from illegal online libraries rather than the AI training itself.

For AI companies, that distinction could prove significant because it separates studying copyrighted material from directly copying it.

Competition Could Be The Key Issue

A case involving Thomson Reuters and Ross Intelligence offers a different perspective. A court ruled that Ross could not claim fair use after using Reuters’ copyrighted material to develop a competing AI-powered legal research platform.

The decision suggests courts may be less willing to consider AI training fair use when copyrighted content is used to build a product that directly competes with the original.

For authors, an unresolved question is whether AI-generated content should be considered competition for the works used to train these models.

The Law Has Yet To Catch Up

US copyright law predates generative AI by decades, leaving courts to apply old principles to new technology. Questions also remain over copyright protection for AI-generated works. In Thaler v. Perlmutter, a court ruled that material created entirely by AI cannot receive copyright protection.

Major AI companies remain involved in copyright litigation, and different courts could reach different conclusions. For now, there is no universal rule: the legality of AI training will depend on the circumstances of each case and how courts ultimately interpret copyright and fair use.

Vacant Properties Could Be Renovated For Housing And Community Use

Cyprus has an estimated 30,000 vacant or abandoned buildings that could be renovated and brought back into use, potentially helping ease pressure on the housing market, particularly for renters.

Former parliamentary Environment Committee chairman Charalambos Theopemptou examined how other EU countries deal with vacant properties and outlined several measures Cyprus could consider.

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Lessons From Europe

Countries such as Ireland, France, Spain and Portugal use different combinations of renovation grants, tax measures and urban renewal programmes to encourage owners to bring empty properties back into use.

Ireland offers grants of up to €50,000 for vacant homes and €70,000 for derelict properties, while France and Spain use tax measures in areas with high housing demand. Portugal supports renovation through a dedicated urban renewal fund. Cyprus currently offers grants of up to €40,000 for renovating a three-bedroom home.

Creating A National Register

Theopemptou suggested creating a comprehensive register of vacant, abandoned and dangerous buildings, with municipalities and communities working alongside the Interior Ministry and technical services.

Properties could be classified according to their condition, historical or architectural value and location. Buildings near schools, public transport, local centres or areas with demand for affordable housing could receive priority.

He also proposed combining financial incentives with simpler procedures and faster technical assistance for owners willing to restore unused properties.

Putting Empty Buildings To Work

Once renovated, vacant properties could provide affordable and student housing, small businesses, cultural spaces and other community facilities. Long-term leases, partnerships with owners, social enterprises and unused municipal buildings could also contribute.

Many properties may not require major reconstruction. Structural assessments, cleaning, basic repairs, energy improvements, accessibility upgrades and reconnection to utilities could be enough to return some buildings to use.

Theopemptou also called for faster permits for smaller renovation projects and greater use of EU funding linked to the Renovation Wave initiative. Local authorities could further improve transparency by publishing data on vacant properties, including how many have been classified as dangerous, renovated or returned to use.

Bringing more of Cyprus’s unused buildings back into circulation could increase the housing supply while revitalising neighbourhoods and improving quality of life.

Larnaca has been named the third-best destination in southern Europe for an autumn getaway, according to Quotezone’s 2026 Shoulder Season Index.

The Cypriot city ranked behind Antalya in Turkey and Tenerife in the Canary Islands, while Crete and Malta completed the top five. The index assessed destinations based on factors including temperatures, sunshine, rainfall and accommodation costs.

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Autumn Holidays Gain Popularity

The ranking comes as more travellers consider moving their holidays away from the peak summer season. Quotezone found that 48% would consider taking their main annual holiday in autumn, while 52% said they would avoid southern Europe during summer because of high temperatures.

Cost is another factor, with 26% of respondents citing cheaper prices as a reason to travel in autumn. Meanwhile, 42% said they would wait for a last-minute price reduction, and 11% said they always look for an autumn deal.

Fewer crowds also appeal to travellers, with 21% choosing autumn for lower congestion and 16% valuing the smaller number of children travelling during the season.

Larnaca Offers Warm Autumn Conditions

Larnaca’s position in the ranking reflects its favourable weather in September and October. Average air temperatures reach 25.5°C, while the sea remains around 27°C.

Rainfall is also limited, with just 12mm recorded across the two months in the index’s assessment. That makes the city particularly suitable for visitors looking for beach weather beyond the traditional summer season.

Antalya Takes First Place

Antalya topped the ranking with around 9.5 hours of sunshine per day and average temperatures of 27.6°C during September and October. Sea temperatures average 27.5°C, while rainfall stands at around 42mm.

Tenerife came second, helped by warm weather and relatively little rainfall, while Crete ranked fourth with around eight hours of sunshine daily. Malta completed the top five.

Budva in Montenegro ranked ninth and Dubrovnik in Croatia tenth.

A Longer Tourism Season For Cyprus

Quotezone travel insurance expert Helen Rolph said the shoulder season was becoming increasingly attractive as travellers looked for warm weather without the extreme heat and higher prices associated with summer.

For Cyprus, Larnaca’s ranking highlights the island’s potential to attract visitors beyond the traditional peak season. Warm temperatures, high sea temperatures and limited rainfall make the city a strong option for late-season holidays.

Cyprus residents are on track to make around 2.1 million trips abroad in 2026, up from 1.96 million last year, according to the Association of Cyprus Travel & Tourism Agents (ACTTA).

ACTTA president Charis Papacharalambous said outbound travel is growing by about 7%, meaning the number of trips could exceed two million for the first time.

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He said the increase reflects a broader shift in which international travel has become a regular part of life for Cyprus residents rather than an occasional luxury. Better air connectivity has also expanded the number of destinations and flight options available from the island.

Greece Remains The Top Choice

Around 85% of trips by Cyprus residents are to European destinations, including the UK, while almost 70% are to EU member states.

Greece remains by far the most popular destination, accounting for about 33% of all outbound trips. Italy, Poland, France and Germany are also among the leading choices, while Spain and Romania have recorded notable increases in demand.

Long-haul travel is gaining ground as well. Japan has become increasingly popular over the past two to three years, particularly among older travellers and families with older children. Thailand is also regaining interest after a period of weaker demand.

Inbound Tourism Faces A Mixed Picture

While outbound travel is growing strongly, Cyprus’ inbound tourism performance has been more uneven. July arrivals were close to last year’s level, but several key European markets remained below their 2025 figures.

British arrivals were around 11% lower for the year so far, while arrivals from EU countries were down by approximately 9.5%.

A sharp increase in visitors from Israel has partly offset these declines. Around 80,000 to 90,000 more Israeli visitors arrived over the past two months than during the same period last year, with arrivals from the market rising by about 165% in June.

However, Israeli tourists generally stay for shorter periods than European visitors, meaning the increase in arrivals does not translate into the same growth in overnight stays.

Winter Tourism Remains A Challenge

Papacharalambous identified winter tourism as one of Cyprus’ biggest long-term challenges. While efforts are already underway to develop the market, he said they remain fragmented and lack a consistent long-term strategy.

A stronger winter tourism sector would require clear planning and conditions that give businesses and investors confidence to commit to Cyprus for the long term.

Looking ahead to 2027, Papacharalambous said reliable forecasts remain difficult because of the continuing geopolitical uncertainty in the region. The wider regional situation remains uncertain.

Cyprus could strengthen its position as an international financial centre by treating its European regulatory framework as a competitive advantage rather than simply a compliance cost, according to Kyriacos Antonaki, Head of AML & Compliance at KENDRIS Capital Limited.

In an analysis published by the Cyprus Investment Funds Association, Antonaki says investors are increasingly prioritising governance, transparency, resilience and regulatory credibility alongside financial performance.

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Regulation Becomes A Competitive Factor

Financial centres have traditionally competed through flexibility, speed and lower regulatory barriers. That model is becoming less attractive as geopolitical uncertainty, sanctions risks and financial crime concerns increase.

For investment funds and financial firms, investors are now paying greater attention to governance, compliance systems and the quality of supervision in the jurisdictions where they operate.

This could work in Cyprus’s favour. EU rules covering investment funds, financial markets, operational resilience and anti-money laundering have increased compliance requirements but also created greater consistency and predictability.

Cyprus Can Leverage Its EU Position

As an EU and eurozone member, Cyprus combines access to the European regulatory and passporting framework with a competitive business environment, an established professional services sector and a strategic location between Europe, the Middle East and Asia.

For smaller financial centres, the opportunity lies not in competing with larger markets on scale, but in offering adaptability, responsiveness and specialised expertise.

Trust Over Regulatory Arbitrage

Antonaki argues that international firms are increasingly looking beyond the lowest costs and towards jurisdictions offering efficiency, market access, stability and regulatory credibility.

However, EU alignment alone will not be enough. Effective supervision, strong governance, professional expertise and consistent implementation will determine whether Cyprus can turn regulation into a lasting advantage.

He also stresses the importance of proportionality, warning that excessive compliance costs could undermine competitiveness, particularly for smaller businesses.

The broader shift is therefore away from competing through lighter regulation and towards building institutional trust. For Cyprus, its EU regulatory status could become not a constraint, but one of the strongest selling points for international investors and financial firms.

Top Kinisis Travel Public Ltd will review its financial performance for the first six months of 2026 at a board meeting scheduled for September 23. Directors will examine the company’s unaudited consolidated results for the period.

Shareholders Approved 2025 Dividend

The upcoming meeting follows the company’s annual general meeting, held at its Strovolos headquarters on June 11. Shareholders approved the consolidated financial statements for 2025 and a dividend of €0.01 per ordinary share, amounting to €122,120.11 in total.

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The dividend was scheduled for payment on July 24 to shareholders registered with the Cyprus Stock Exchange as of June 26. Investors had to complete their purchases by June 24, with the shares trading ex-dividend from June 25.

Board And Audit Decisions

Shareholders also re-elected Elena Tanou, Constantinos Kakkouras, Nicolaos Pissas and Panayiotis Papanicolaou to the board after their formal resignations.

Board members will receive €100 per meeting, while the chairman’s fee was set at €150. Baker Tilly was also re-appointed as the company’s auditor until the next annual general meeting, with the board authorised to negotiate its fees.

Cyprus collected and spent €5.43 billion by the end of July 2026, keeping state revenue and expenditure at the same absolute level halfway through the budget year. Revenue had reached 50% of the annual target, compared with 47% for expenditure.

Compared with the first seven months of 2025, both revenue and spending increased by €260 million. Stronger tax receipts were the main reason for the rise in revenue, while higher operating costs, transfers, grants and social benefits pushed expenditure up.

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Tax Receipts Provide A Major Boost

VAT collections rose by €200 million year-on-year to €1.98 billion, while direct tax revenue increased by €150 million to €1.95 billion. Income tax paid by companies and individuals accounted for most of the increase in direct taxation.

The stronger tax performance has helped the government accommodate higher spending without creating a significant deterioration in the mid-year budget position.

Social Spending And Transfers Rise

The increase in expenditure was not driven by public sector salaries and pensions, which remained broadly unchanged at €1.90 billion.

Instead, social benefits reached €1.13 billion, up €70 million from a year earlier, with additional spending directed towards healthcare, education, housing and welfare. Transfers and grants also increased by €80 million to €1.13 billion.

Operating costs climbed by €120 million to €530 million, partly reflecting higher spending on defence and policing, as well as consultancy and research services.

Development Spending Moves Faster

Capital expenditure reached €165.7 million by July, with 32% of the development budget executed compared with a 28% average for the same period over the past decade.

Major allocations included roads, construction projects, government and school buildings, equipment, and water and sewerage infrastructure.

EU-backed programmes are also supporting areas such as home energy upgrades, sustainable transport, electric mobility, digital transformation and skills development.

Debt Repayments Surge

One of the biggest changes came from public debt transactions. Government borrowing inflows reached €1.31 billion, while loan repayments and related outflows exceeded €2.1 billion.

Foreign debt repayments accounted for €2.06 billion, compared with just €60 million during the same period in 2025. Despite the much larger repayments, financing costs remained broadly stable at around €430 million.

A Balanced Mid-Year Picture

Overall, Cyprus’s public finances remain broadly on track. Rising VAT and income tax receipts are supporting higher social, operational and development spending, while the public-sector wage bill remains relatively stable.

The headline €5.43 billion balance between revenue and expenditure therefore tells only part of the story: beneath it, tax collection is strengthening, investment spending is progressing faster than usual, and debt-related cash flows have increased sharply.

Eurobank S.A. spent €5.88 million repurchasing more than 1.3 million of its own shares on Euronext Athens between August 17 and August 21, 2026.

The purchases are part of the bank’s ongoing share buyback programme, approved by shareholders at the annual general meeting on April 28 and launched following a public announcement on June 10.

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More Than 1.3 Million Shares Repurchased

During the five-day trading period, Eurobank bought 1,312,998 shares for a total of €5,882,204.05, at an average price of about €4.48 per share.

The transactions were carried out on Euronext Athens through Eurobank Equities Single Member Investment Firm S.A.

Daily purchases were as follows:

• August 17: 257,693 shares for €1.16 million, at an average of €4.4951 per share.
• August 18: 271,616 shares for €1.22 million, averaging €4.4929.
• August 19: 323,887 shares for €1.44 million, the largest daily purchase, at an average of €4.4336.
• August 20: 237,344 shares for €1.06 million, averaging €4.4646.
• August 21: 222,458 shares for €1.01 million, at an average of €4.5305.

Eurobank’s Share Holdings Increase

The buyback programme was formally established through a board resolution adopted on April 29, following shareholder approval and the relevant legal framework.

After the latest purchases, Eurobank holds a total of 22,500,675 of its own shares.

Saving for a home deposit in Cyprus is becoming increasingly difficult as property prices rise faster than household savings. A new analysis by BestBrokers estimates that a typical 108-square-metre home costs around €305,296. A 20% deposit would therefore require about €61,059.

Average Salary Does Not Tell The Full Story

Based on an average gross monthly income of €2,603, the deposit equals roughly 23 months of salary. In reality, however, buyers must cover rent, food, transport and other expenses.

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Cyprus’ median monthly salary was €1,968 in 2025, while one in three employees earned less than €1,500 in the first quarter of 2026. At the median salary, the deposit represents around 31 months of gross income.

Someone earning €1,500 would need more than 40 months of pay. Saving 20% of the median salary each month would take almost 13 years to reach €61,059, assuming property prices did not rise.

Mortgage Costs Add To The Pressure

A 20% deposit is broadly consistent with current mortgage conditions. Bank of Cyprus’ first-home loan offers financing of up to 80%. For a €305,296 property, the mortgage would be about €244,237. At an average new mortgage rate of 3.28% in June, a 30-year loan would cost approximately €1,067 per month if the rate remained unchanged.

That would absorb more than half of the median gross salary before taxes and living expenses.

Location And Property Type Matter

New-build prices vary significantly across Cyprus. During the first half of 2026, the average transaction reached €319,618, while the median was €232,500. A 20% deposit based on median new-build prices would be around €37,000 in Nicosia, €38,000 in Larnaca, €45,000 in Famagusta, €60,600 in Limassol and €72,000 in Paphos.

Apartments remain more affordable than houses, with a median new-build price of €215,000 compared with €365,000 for houses. That means deposits of roughly €43,000 and €73,000 respectively.

Prices Rise Faster Than Savings

Apartment prices increased 10.8% year-on-year in the first quarter of 2026, according to Central Bank of Cyprus data, while house prices rose 3%.

At the same time, average household savings rates stood at just 1.42% in June, leaving savers struggling to keep up with property prices. Government support has also attracted strong demand. A housing scheme offering grants of up to €50,000 to people aged 41 and under received 1,018 applications for its initial 400 places. An additional €11 million was later approved for another 277 applicants.

Cyprus Remains Mid-Ranked In Europe

Despite the affordability challenges, Cyprus compares relatively well with several European markets. A 20% deposit represents around 23 months of gross income, compared with 24 months in the UK, Malta and Spain, 29 in Greece and 30 in Portugal.

Cyprus and Croatia also recorded one of Europe’s lowest housing-cost overburden rates, at 2.6% of urban residents spending at least 40% of disposable income on housing, according to Eurostat.

Cyprus has become increasingly attractive to digital nomads and international professionals, thanks to its mild climate, quality of life, digital infrastructure and business-friendly environment. Many of them live on the island while working remotely for companies or clients abroad, bringing foreign income into the local economy.

To support this trend, the Cyprus Civil Registry and Migration Department has increased the digital nomad visa quota to 1,000 permits for non-EU nationals. Applicants must have a minimum net monthly income of €3,500, helping to target relatively highly paid professionals.

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Foreign Income And Local Spending

Digital nomads typically stay much longer than traditional tourists, sometimes for months or even years. Their spending on accommodation, healthcare, education, transport, restaurants and entertainment therefore provides a steady boost to local businesses.

Studies cited in the source estimate that an individual digital nomad spends between €1,600 and €2,200 per month. If all 1,000 visa places were used, the Cyprus Chamber of Commerce estimates the programme could generate more than €10 million annually.

Beyond consumption, the arrival of international professionals can support new business networks, knowledge-sharing and innovation, strengthening Cyprus’s ambitions to become a regional business hub.

Economic Benefits Have Their Limits

The growing digital nomad population also raises questions about the sustainability of this model. While foreign income and additional consumer spending benefit the economy, they cannot replace investment in productive industries, stable employment and long-term innovation.

Housing is one of the biggest concerns. Rising demand from international professionals is adding pressure to an already expensive property market. Eurostat data shows that the index for actual rental payments in Cyprus reached 103.95 points in May 2026, while the Central Bank reported a 7.07% year-on-year increase in residential property prices.

For many Cypriots, particularly younger workers, higher rents and property prices are making it increasingly difficult to afford housing.

Cyprus Needs More Housing, Not Just Less Demand

Restricting demand from foreign professionals alone is unlikely to solve the problem. A broader response should focus on increasing the supply of homes, speeding up development approvals and allowing greater residential density where appropriate.

Expanding affordable housing for young people and families could also ease pressure, while better transport connections would make areas outside the most expensive urban centres more attractive for permanent residents.

Digital nomads can therefore be an important source of foreign income, skills and international connections for Cyprus, but they should remain part of a wider economic strategy. The challenge is to attract international talent while ensuring that economic growth remains sustainable and housing stays accessible to local residents.