Cyprus recorded a poverty or social exclusion risk rate of 17.1% in 2025, below the European Union average of 20.9%, according to new Eurostat figures. Across the bloc, however, more than 92 million people continued to face the risk, highlighting persistent social and economic inequalities.

More Than 92 Million People At Risk Across The EU

A total of 92.7 million people across the EU were at risk of poverty or social exclusion in 2025, equivalent to just over one in five residents.

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Cyprus is treated as a single statistical region because of its size, unlike many member states divided into multiple regions for comparison. Its national figure therefore provides an overall picture but does not capture differences between districts or communities.

Regional Gaps Remain Stark Across Europe

The risk varied considerably across the EU, with the highest rates concentrated largely in southern, eastern and outermost regions. In 24 of the 243 regions with available data, at least 31.5% of the population faced poverty or social exclusion.

These regions were located in Spain, Bulgaria, Greece, Italy, France and Romania, as well as Brussels in Belgium and Bremen in north-western Germany.

French Guiana recorded the highest rate, at 54.8%, followed by Calabria in southern Italy at 45.3% and Sicily at 44%. Melilla, a Spanish autonomous city, recorded 43.7%, while Réunion, another French outermost region, stood at 42.3%.

Central Europe Records The Lowest Rates

At the other end of the scale, 24 regions reported poverty or social exclusion risk rates below 13% in 2025. These included five eastern EU capital regions: Bratislava in Slovakia, Warsaw in Poland, Prague in the Czech Republic, Budapest in Hungary and Zagreb in Croatia.

Other regions with low rates were concentrated in northern Italy, the Czech Republic, northern Belgium, Hungary, Poland and Austria, illustrating the uneven distribution of economic security across Europe.

Cyprus Remains Below The EU Average

Cyprus’ rate of 17.1% places it below the EU average, although it remains higher than the levels recorded in the bloc’s lowest-risk regions.

The figures suggest that Cyprus performs relatively well compared with the wider EU, but poverty and social exclusion remain significant challenges across the bloc, affecting more than 92 million people.

Cyprus is undergoing a structural shift towards digital payments, reshaping consumer behaviour, banking infrastructure and everyday transactions. Cash is gradually losing ground as payment cards, electronic transfers and online commerce become increasingly important.

According to the Central Bank of Cyprus’ October 2026 Statistical Bulletin, payment habits changed significantly between 2022 and 2025, alongside a contraction in physical banking infrastructure and growing reliance on digital financial services.

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ATMs Are Disappearing As Cash Demand Fades

One of the clearest signs of this transition is the decline in automated teller machines. As electronic payments become more common, banks are reducing operating costs by closing cash withdrawal points and scaling back traditional branch-based services.

According to Table 7.1, Cyprus had 396 active ATMs at the end of 2025, down from 416 in June 2022, a decline of 4.8%. The reduction reflects a gradual contraction in the country’s cash infrastructure, although ATMs remain important for consumers who still rely on physical money.

Card Payments Continue To Expand

While the ATM network has shrunk, the number of payment cards has increased. Table 7.2 shows that 2,220,202 active cards were in circulation in December 2025, compared with 1,659,011 in June 2022 and 1,859,006 in December 2023.

The total rose by 561,191 cards between June 2022 and December 2025, an increase of 33.8%. This growth highlights the expanding role of cards in everyday spending and suggests that many consumers hold more than one card for different accounts or payment needs.

Cards Dominate Transactions, But E-Banking Handles The Largest Values

Data from Charts 7.1 and 7.2 reveals a clear difference between payment frequency and total value. Cards accounted for 75% of transaction volume in the second half of 2025, making them the leading method for everyday purchases. Credit transfers through e-banking, however, represented 84% of total transaction value, while cards accounted for just 6%.

The figures reflect different spending patterns. Cards are commonly used for groceries, fuel and other routine purchases, while electronic bank transfers handle larger payments, including rent and utility bills. Traditional cheques have become marginal, accounting for only 1% of transaction volume.

Cross-Border Payments Connect Cyprus To Global Markets

The geographic breakdown in Chart 7.3 highlights the international reach of Cyprus’ payment system. Credit transfers and direct debits remain largely domestic, while card payments and e-money transactions show greater cross-border activity.

International platforms account for a growing share of transactions, particularly those involving online shopping, subscription services and airline travel. Digital payments are making cross-border purchases increasingly routine, connecting Cypriot consumers with businesses and service providers abroad.

Online Commerce Captures The Higher-Value Spending

By the end of 2025, point-of-sale transactions in physical stores accounted for 70% of transaction volume, while online commerce represented 60% of total transaction value.

The difference reflects how consumers spend. Physical shops remain the destination for frequent, lower-value purchases, while online transactions often involve airline tickets, hotel bookings and higher-priced equipment. As a result, physical retail leads in transaction frequency, but e-commerce captures a larger share of spending by value.

Digital Payments Reshape Cyprus’ Financial Landscape

The figures point to a broader transformation in Cyprus’ payment ecosystem: ATM numbers are declining, payment cards are becoming more widespread, electronic transfers dominate transaction value, and online commerce accounts for a substantial share of spending.

Cash remains part of the economy, but digital methods increasingly shape how consumers make everyday purchases, settle larger bills and pay international providers. Cyprus reflects a wider shift across advanced economies, where cards and electronic channels are becoming central to consumer finance.

Limassol emerged as Cyprus’s leading construction market in the first half of 2026, topping the country’s three main indicators: the value of building permits, licensed floor area and the number of approved residential units.

The district recorded €853.24 million in approved projects and 719,944 square metres of licensed floor area. It also approved 3,527 new residential units, a 61.94% increase from the same period in 2025, according to data from the Cyprus Statistical Service obtained through the Limassol District Self-Government Organisation (EOA Limassol).

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Construction Activity Accelerates Nationwide

Across Cyprus, the total value of building permits reached €2.57 billion in the first half of 2026, while licensed floor area exceeded 2.09 million square metres. Compared with the same period last year, permit value rose by 48.15% and licensed area increased by 47.06%.

Limassol accounted for 34.3% of the country’s total licensed floor area, ahead of Nicosia at 632,145 square metres. Its licensed area increased by 34.69% year on year, from 534,531 square metres.

The district’s approved project value rose by 34.54%, from €634.20 million to €853.24 million, representing 33.2% of the national total and an additional €219 million in approved construction value.

Housing was another major driver. Limassol’s 3,527 approved residential units represented 31.8% of the 11,099 units licensed across Cyprus in the first six months of the year.

Faster Permitting Supports Development

Part of Limassol’s strong performance appears to be linked to faster processing of building permit applications by EOA Limassol. The most significant gains came in May and June, when approvals increased sharply and the district’s key indicators more than doubled compared with the same two months in 2025.

“The efficient and rapid processing of building permit applications plays a decisive role in promoting investment and sustaining the district’s development momentum, while also contributing to broader economic activity,” said Yiannis Tsoulouftas, president of EOA Limassol.

His comments highlight the role of administrative capacity in high-growth property markets, where efficient permitting can help projects move forward and support investment.

EOA Limassol Focuses On Long-Term Efficiency

Maintaining the pace of development will require the authority to continue improving application reviews, transparency and services for residents, planners and investors.

Tsoulouftas said EOA Limassol was strengthening its organisation and improving the effectiveness of the licensing process. He expects performance to improve further by the end of 2026 as the authority adapts to the district’s rapid growth.

“A simple tour of our city shows the unprecedented construction growth. The entire city is a huge worksite, with buildings rising on every corner,” he said.

He attributed the organisation’s progress to methodical, scientifically grounded management and the development of an effective structure within its licensing directorate. The approach, he said, is intended to deliver results without unnecessary expenditure or inefficient organisational structures.

“We are focused on building an organisation that is economically and operationally sustainable over time. We are not making panic-driven or showy moves, nor are we focusing on short-term gains that could create long-term problems,” Tsoulouftas said.

Financial Stability And Digital Transformation

Tsoulouftas also identified financial stability as an important asset for the organisation’s future. He said it would provide scope to improve performance, support major development projects and invest in digital transformation.

Modernising services and improving operational efficiency will be increasingly important as Limassol’s construction pipeline expands.

The first-half figures underline the district’s position at the centre of Cyprus’s construction growth. The longer-term challenge will be ensuring that permitting systems and public institutions can keep pace with development while maintaining efficient, sustainable operations.

Paphos and Limassol strengthened their positions in Cyprus’ off-plan property market in the third quarter of 2026, as recorded sales of homes under construction or at the planning stage rose by 48.5% quarter on quarter. According to Landbank Analytics, 1,956 sale agreements worth €606.4 million were recorded between July and September.

Limassol’s share of total transaction value increased from 32.4% to 40.5%, while Paphos raised its share of transactions from 12.8% to 17%. The figures highlight shifting market dynamics, with districts performing differently by sales volume and value.

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Recorded Sales Rise By Almost Half

Recorded agreements increased from 1,317 in the second quarter to 1,956 in the third, while their combined value rose 51.6%, from €400.1 million to €606.4 million.

However, the reporting periods were not identical. The second-quarter dataset ran until June 29, while the third-quarter figures extended to September 30, meaning the comparison reflects recorded activity rather than a like-for-like measure of underlying demand.

The average value per agreement rose 2% to €310,019. Apartments recorded an average transaction value of €269,217 and a median of €214,500. For houses, the average was €478,138 and the median €380,000. Landbank Analytics stressed that these figures reflect the mix of properties sold and do not constitute a property price index.

Limassol Strengthens Its Position By Value

Limassol recorded 599 agreements worth €245.3 million, accounting for 30.6% of all transactions, up from 26.3% in the previous quarter. Its share of total transaction value rose by 8.1 percentage points to 40.5%.

Growth was particularly strong in Germasogeia, where transactions increased by 69.8%, and Limassol city, which recorded a 47.3% rise.

Germasogeia registered 73 agreements worth €44.8 million, compared with 43 in the second quarter. Its median transaction value was €383,762 and its average €613,991, with prices ranging from €95,000 to €5.092 million.

Agios Tychonas recorded 16 sales worth €18.1 million. Prices ranged from €125,000 to €5.8 million, with a median value of €647,123 and an average of €1.13 million.

Limassol city remained the busiest locality, with 190 sales, up from 129. Its median transaction value was €292,500 and its average €357,042.

Paphos Gains Share In Sales And Value

Paphos increased its share of total transaction value from 21.2% to 22%. Paphos city recorded 96 sales, up from 79, with a median transaction value of €316,250 and an average of €407,912. Prices ranged from €65,000 to €3.567 million.

The district’s gains in both transaction volume and value made it one of the quarter’s strongest performers.

Homes Below €300,000 Dominate Sales

Properties priced below €300,000 accounted for 1,267 transactions, or 64.8% of all recorded sales. Although their share fell from 68.1% in the second quarter, lower- and mid-priced homes still represented nearly two-thirds of the market.

The largest bracket was €200,000 to €299,999, with 545 sales, or 27.9% of the total. The €300,000 to €499,999 segment recorded 521 transactions, representing 26.6%, up from 304 and 23.1% in the previous quarter.

Properties priced between €150,000 and €199,999 accounted for 418 sales, or 21.4%, while homes below €150,000 represented 304 transactions, or 15.5%.

Activity also increased in higher-priced categories. Sales in the €500,000 to €749,999 range rose from 66 to 94, while the €750,000 to €999,999 segment recorded 26 transactions. Properties priced at €1 million or more increased to 48 sales, from 33.

Landbank Group founder and chief executive Andreas Christophorides said the distribution of sales underlines the importance of pricing and product selection for developers.

“Selecting the right location, product type and price point is critical to the absorption of a project,” he said. “There is no single, uniform market, and it cannot be assessed through average prices or aggregate sales alone.”

Local Markets Show Different Momentum

Larnaca city recorded one of the strongest increases among leading local markets, with sales rising 74.6%, from 71 to 124. Its median transaction value was €205,000 and its average €237,843.

Lakatamia ranked third by transaction volume, with 111 sales, up 20.7% from 92. Its median value was €190,000 and its average €198,706.

Aradippou recorded 109 sales, down 10.7% from 122, with a median value of €185,000 and an average of €204,594. Strovolos registered 90 transactions, up 26.8%, while Livadia recorded 79. Germasogeia ranked eighth with 73 sales.

District Shares Continue To Shift

Nicosia’s share of recorded transactions fell from 34.5% to 25%, although the district still recorded 489 sales. Its share of total transaction value declined from 26.2% to 16.2%.

Larnaca’s share of transactions edged up from 23.8% to 24%, while its share of total value increased from 16.6% to 17.7%. Famagusta’s share of transactions rose from 2.6% to 3.4%, while its share of total value remained at 3.6%.

Christophorides said reliable market analysis requires more than headline sales figures, particularly in premium areas where a small number of expensive properties can significantly affect average values.

“Robust analysis must bring together volume, median value, the range of prices and the characteristics of the properties sold,” he said. “That is the basis for better development and investment decisions.”

The third-quarter results underline the importance of assessing each district by its transaction volumes, price distribution and property mix. Paphos gained ground by sales volume, while Limassol strengthened its position by value, highlighting the varied dynamics of Cyprus’ off-plan market.

As artificial intelligence reshapes the labour market, women could once again bear a disproportionate share of the disruption. History shows that technological change can eliminate established jobs while creating new opportunities, but the transition is rarely experienced equally.

A Familiar Pattern In A New Technology Cycle

Women may be particularly exposed because administrative, clerical and routine information-processing roles, traditionally dominated by female workers, are among those most vulnerable to automation.

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“AI is focused on routine tasks and numbers and finding patterns, and those types of jobs are the clerical, administrative jobs that a lot of women hold,” said Ariane Hegewisch, a senior research fellow at the Institute for Women’s Policy Research. “It’s still 90% of secretaries and clerical workers who are women.”

In March, the International Labour Organization concluded that nearly one in 10 women in high-income countries work in an occupation facing the highest risk from AI.

The Telephone Switchboard Shock

In the 1940s, women accounted for nearly 95% of America’s telephone operators. The relatively well-paid but demanding job required months of training to handle hundreds of calls per hour.

AT&T’s introduction of automated telephone switching transformed the industry, eliminating an estimated 75,000 operator jobs. Economists James Feigenbaum of Boston University and Daniel P. Gross of Duke University’s Fuqua School of Business examined the consequences using census and payroll data.

“The effect of this shock on incumbent operators was to dispossess many of their jobs and careers,” they wrote. Many workers moved into lower-paid jobs or left the labour force.

Economist David Autor says technological change can leave workers with skills tied to occupations that suddenly become obsolete. Because many people build their careers around one profession, displacement can mean moving into less desirable work.

Younger workers entering the labour market after the switchboard transition often found comparable jobs elsewhere, however. The experience illustrates how new opportunities can emerge even as established roles disappear.

Household Technology Expanded Paid Work

While automated switchboards eliminated a category of female-dominated employment, household appliances helped women devote more time to paid work. Economists including Jeremy Greenwood described appliances as “engines of liberation” because they reduced the hours spent on unpaid domestic labour.

Between 1950 and 1980, the number of employed women in the US rose by more than 25 million, while female labour force participation increased from 34% to 52%. Over the same period, 16 million more men found jobs, despite a slight decline in the male participation rate.

Changing gender norms, rising household wealth and the expansion of service industries also contributed to this growth. For the AI era, the question is whether new jobs will emerge quickly enough to absorb workers displaced by automation.

Personal Computers Transformed Office Work

Before personal computers became widespread, women dominated office administration. The 1980 US census recorded nearly 4.7 million secretaries, stenographers and typists, more than 98% of whom were women.

IBM introduced its personal computer in 1981, followed shortly by Microsoft Word. Executives could increasingly prepare their own documents, arrange travel and type memos, reducing the need for some clerical roles.

Yet computers also helped workers become more productive. Women who adapted to the technology could increase their value to employers, showing that automation can eliminate particular tasks while creating new advantages for those who use the tools effectively.

A 2022 paper by Marcus Dillender and Eliza Forsythe found that companies adopting software for office and administrative work saw employment in the sector fall by 1%, while wages for college graduates rose by 3%.

What AI Means For The Next Generation

Women today are, on average, more educated than in previous technological upheavals and more likely to hold managerial and professional positions. However, AI could reach beyond repetitive work into more complex tasks previously considered difficult to automate.

For businesses, it offers opportunities to increase productivity. For workers, it creates uncertainty, particularly in occupations where tasks can be digitised, standardised or predicted.

History does not show that technology inevitably harms women more than men. It does show that women have often been overrepresented in jobs exposed to automation. New opportunities sometimes follow, but not always quickly enough to prevent job losses or downward career moves.

AI may ultimately create more work than it destroys. The challenge will be ensuring that its benefits and costs are not distributed unevenly.

Employees in Cyprus earned more in 2025, but the figures show that wage growth remains uneven across the labour market. Median gross monthly earnings rose by 3.8% to €1,953, up from €1,881 in 2024, while average earnings increased by 4.3% to €2,591, according to the Cyprus Statistical Service (Cystat).

Average Pay Outpaces Median Earnings

The €638 gap between average and median monthly earnings highlights the uneven distribution of salaries. At roughly 33% above the median, the average is more heavily influenced by high earners, while the median provides a clearer picture of the typical employee’s position: half of workers earn less and half earn more.

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Cystat’s breakdown shows that the largest share of employees, 13%, earned between €1,000 and €1,249 a month before deductions. Another 11.4% earned between €1,500 and €1,749, while 11.2% fell into the €1,250 to €1,499 bracket. Overall, 24.2% of employees earned less than €1,500 per month, highlighting the continued importance of wage growth as households face higher living costs.

Gender Differences Persist Across Pay Bands

Women were more heavily represented in lower earnings brackets. Their share exceeded men’s by 3.3 percentage points among employees earning €1,000 to €1,249 a month, rising to a 3.5-point gap in the €1,250 to €1,499 bracket.

At the other end of the scale, men accounted for a share of employees earning €6,000 or more that was 3.1 percentage points higher than the corresponding proportion for women.

Finance Leads Sectoral Earnings

Average gross monthly earnings varied considerably by industry, ranging from €956 in agriculture, forestry and fishing to €5,038 in financial and insurance activities. Every sector recorded annual growth in 2025, although the pace differed.

Mining and quarrying posted the strongest increase, at 10.3%, followed by information and communication at 7.7% and financial and insurance activities at 7%. Cystat cautioned that mining and quarrying employs relatively few people, making its figures more sensitive to changes in individual salaries.

Cypriot Employees Record Higher Median Pay

Nationality was another clear dividing line in the earnings data. Cypriot employees recorded median gross monthly earnings of €2,145, compared with €1,597 for non-Cypriot workers. The figures represented annual increases of 4.5% and 3.4%, respectively.

Average earnings followed a different pattern, with Cypriot employees earning €2,625 a month, up 4.7%, while non-Cypriot employees earned €2,524, an increase of 3.7%. The smaller gap in average pay illustrates how the distribution of higher salaries can affect comparisons.

Non-Cypriot workers were more heavily represented than Cypriot employees at both ends of the earnings scale: among those earning less than €1,500 a month and among those receiving €6,000 or more.

Sector Gaps Are Wider Among Non-Cypriot Workers

Differences between industries were even more pronounced when earnings were broken down by nationality. Among Cypriot employees, average gross monthly pay ranged from €1,744 in agriculture, forestry and fishing to €4,383 in financial and insurance activities.

For non-Cypriot workers, the range was substantially wider, from €664 in agriculture, forestry and fishing to €6,649 in financial and insurance activities.

The figures highlight how earnings in Cyprus vary not only by sector but also by the composition of the workforce. Taken together, median salaries, average pay and the distribution across income brackets offer a more complete picture of the labour market than any single headline figure.

Cyprus has activated a system of administrative fines for breaches of property transaction rules, introducing stricter obligations for sellers and mortgage lenders. The framework, established under amending law 132(I)/2023, which came into force on 12 December 2023, is designed to strengthen buyer protection and improve transparency in real estate transactions.

The Department of Lands and Surveys announced on 13 February 2026 that the process for imposing and collecting fines would be activated, with a transitional period for information and compliance running from 16 February to 16 May 2026. That period has now ended, making careful preparation and compliance increasingly important for property transactions.

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Sellers Must Provide An Up-To-Date Search Certificate

Under the law, sellers must attach a search certificate for the property to the sale contract as an integral part of the agreement. The certificate must disclose any encumbrances and prohibitions and must be dated no more than five working days before the contract is signed.

Failure to provide the document can result in a fine even when the property has no mortgage. Penalties are determined by the transaction value:

• €500 for consideration up to €50,000
• €1,500 for €50,001 to €200,000
• €4,000 for €200,001 to €500,000
• €10,000 for amounts above €500,000

The requirement is intended to ensure that buyers understand the property’s legal status before committing financially. Identifying existing burdens before signing can also help the parties agree on settlement terms and conditions for their release, reducing the risk of later disputes.

Mortgage Lenders Face Higher Penalties

The legislation also establishes a procedure that, subject to specific legal conditions, allows a buyer to pay the agreed amount into the prescribed bank account in favour of the mortgage lender and secure the transfer of the property.

Where the relevant burdens are limited to a pre-existing mortgage or deposited contract, and no prohibition applies to the owner, filing the new contract requires either the lender’s written declaration, Form A, or the buyer’s confirmation, Form C. The special procedure does not apply in the same way when other encumbrances exist, such as court MEMO orders.

Once the amount specified in Form A has been accepted, the lender must issue a payment confirmation, Form B, and take the necessary steps to release or remove the mortgage. If the lender issues the confirmation but fails to act accordingly, the Director of the Department of Lands and Surveys may, subject to the statutory conditions, proceed with the release or cancellation and transfer.

Fines for lenders who fail to meet their obligations depend on the amount secured by the mortgage:

• €5,000 for mortgages up to €50,000
• €15,000 for €50,001 to €200,000
• €40,000 for €200,001 to €500,000
• €100,000 for amounts above €500,000

These penalties are intended to encourage lenders to fulfil their statutory duties promptly. The procedure may be particularly important when a seller faces financial difficulties, as it offers buyers an additional route to securing a transfer without relying solely on the seller’s cooperation, provided all legal conditions are met.

Appeals Must Be Filed Within 30 Days

Both sellers and mortgage lenders may appeal to the Minister of the Interior for a review of a fine within 30 days of receiving notification. This provides an opportunity to challenge a penalty on factual or legal grounds, but does not remove the underlying obligation to comply with the law.

Compliance Is Essential For Buyer Protection

The new regime makes transparency a more enforceable part of property transactions in Cyprus. Effective protection depends not only on financial penalties, but also on timely title checks, accurate completion of the required forms and clear coordination with mortgage lenders.

For buyers and sellers alike, the most effective safeguard is to verify the property’s legal status and meet all procedural requirements before signing the contract. In real estate, compliance is not simply an administrative formality; it is fundamental to a secure transaction.

Apple has strengthened its App Store review guidelines, introducing clearer restrictions on AI-generated abusive content, deceptive app functionality and software linked to exploitation. The changes come as regulators and child-safety advocates increase pressure on app marketplaces to prevent harmful applications from reaching users.

Under the revised rules, apps that use artificial intelligence to generate offensive content may be removed. Apple is also targeting so-called bait-and-switch tactics, in which developers present an app as harmless during review before activating prohibited features after approval.

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Stronger Safeguards For User-Generated Content

Apps hosting user-generated content must include systems to filter objectionable material, allow users to report offensive content and provide tools for blocking abusive accounts. Apple says developers are responsible for moderating the content distributed through their platforms, not simply hosting it.

“Apps that host user-generated content are required to filter objectionable material, give users a way to report offensive content, and let users block abusive accounts,” Apple said in a blog post.

The company also prohibits hidden or undocumented features, including apps that conceal their purpose during review before introducing harmful capabilities such as “nudification”. Applications that add features not included in the version submitted for review may also be removed, closing a potential loophole for developers seeking to bypass oversight.

Enforcement Targets Exploitation And Fraud

Apple has reinforced its prohibition on apps that promote human trafficking or child exploitation, strengthening the language of its existing rules. The changes reflect growing expectations that technology platforms should act decisively when harmful content or functionality appears in their ecosystems.

Last year, Apple said its review process prevented more than 150,000 apps from reaching users and terminated 193,000 developer accounts for fraud and abuse. The figures illustrate the scale of the challenge facing a marketplace that processes millions of app submissions and updates.

Regulatory Pressure On App Marketplaces Grows

The updated guidelines follow mounting scrutiny of apps that generate non-consensual sexualised images. In July, San Francisco ordered Apple and Google to remove nudification apps from their respective stores, with City Attorney David Chiu accusing the companies of profiting from them through app store fees.

Earlier, a Tech Transparency Project report published in April found multiple nudification apps across both ecosystems, including some rated as suitable for minors.

Apple’s revised rules signal a tougher approach to harmful AI applications and deceptive design. As regulators and safety advocates intensify their scrutiny, the company is seeking to make clear that concealing functionality during review or using AI to generate abusive content can lead to removal from the App Store.

Elon Musk says he plans to donate one SpaceX share to “every kid in America” in 2027, a pledge that would be worth more than $10 billion at the company’s current share price of $146. The amount is equivalent to roughly 1% of Musk’s estimated $1 trillion net worth.

Donation Plan Lacks Details

Musk has yet to explain how the shares would be distributed. In a separate post on X, he said he wanted to transfer them “directly to the public”, describing the pledge as the “first of many” shares he intends to give away.

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The announcement comes as US President Donald Trump has introduced Treasury-backed child investment accounts known as Trump Accounts, which can receive stock donations from wealthy contributors. Musk, who spent around $300 million supporting Trump’s election, has not yet responded to a request for comment.

Anthropic’s Fund Prompted The Announcement

Musk’s pledge followed an announcement by AI company Anthropic that it plans to commit 5% of its shares to a new public benefit fund. The fund is intended to support initiatives ranging from major donations to non-profit organisations to direct distributions to specific populations following the company’s planned initial public offering.

On Sunday afternoon, Musk responded to Anthropic’s announcement on X, arguing that the company should distribute shares “directly to the public” instead. Hours later, he wrote, “This is what I will be doing”, before announcing his own plan to donate SpaceX stock.

The Scale Of The Proposed Gift

The United States has more than 70 million children under the age of 18, according to the Federal Interagency Forum on Child and Family Statistics. Musk holds around 849 million Class A common shares in SpaceX and more than 5.5 billion Class B supervoting shares, giving him a substantial stake from which to make transfers.

So far, most of Musk’s philanthropic activity has been channelled through the Musk Foundation, the fifth-largest private charitable foundation in the United States, despite his public scepticism about philanthropy.

A recent review by The Economist found that much of the foundation’s historical funding had gone to organisations with links to Musk. Nearly 60% of its distributions went to another charity, The Foundation, run by Musk’s money manager, Jared Birchall.

With the proposed 2027 distribution still lacking details, key questions remain over eligibility, the number of shares each child would receive and how the transfer would be administered.

Cyprus is stepping up efforts to attract international shipowners, with Shipping Deputy Minister Marina Hadjimanolis holding high-level meetings in China and Japan as the country’s ship register reaches its strongest level in 25 years.

Running from October 14 to 29, the Asian mission focuses on expanding commercial ties, promoting the advantages of the Cyprus flag and strengthening cooperation with shipowners, shipbuilders and maritime authorities.

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China Meetings Target Shipowners And Industry Leaders

In Shanghai, Hadjimanolis met Wang Qian, vice-director of the Shanghai Pudong New Area Commission of Commerce and Shipping Service Office, ahead of the North Bund International Shipping Forum on October 20–21. Organisers expect around 4,000 participants from more than 50 countries and regions, with discussions covering international shipping, maritime safety, financing, insurance, digitalisation and the transition to cleaner fuels.

The minister also met representatives of Dalian Trawind Shipping and Fortuna Shipbrokers Inc. to present the Cyprus registry’s advantages and explore registration opportunities for vessel owners. On October 20, she is scheduled to speak at the 10th Annual Capital Link International Shipping Forum in Pudong, joining a ministerial roundtable on international maritime leadership.

A visit to Zhoushan is also planned for the naming ceremony of Kypros Island, a new vessel for the Cyprus register owned by Safe Bulkers. Launched in June at the Tsuneishi shipyard on Xiushan Island, the 81,200-deadweight-tonne methanol dual-fuel bulk carrier is scheduled for delivery at the end of October. According to the Zhejiang Maritime Safety Administration, sea trials were due to take place between October 11 and 16.

Japan Engagements Strengthen Maritime Ties

Before travelling to China, Hadjimanolis met Japan’s Parliamentary Vice-Minister for Land, Infrastructure, Transport and Tourism, Kenta Aoshima, in Tokyo on October 16. Her programme also included meetings with senior representatives of Shoei Kisen Kaisha, Nihon Shipyard, NYK Line, ITOCHU Corporation and SSY Projects, focusing on cooperation with Japanese shipowners, shipbuilders and shipping operators.

At the 5th Annual Capital Link Japan Maritime Forum, held at the Tokyo American Club, Hadjimanolis discussed maritime leadership, competitiveness, policy and international cooperation with Capital Link founder and president Nicolas Bornozis. Other sessions examined Japan’s shipbuilding strategy, new-vessel financing and the development of ammonia-powered ships.

The Tokyo programme followed a Cyprus Ship Registry reception on October 15 for representatives of Japan’s maritime and business communities. Hadjimanolis outlined the country’s shipping services and regulatory framework, while Polys Hajioannou, chief executive of Safe Bulkers and president of the Cyprus Union of Shipowners, delivered the opening remarks.

Registry Reaches Highest Level In 25 Years

At the reception, Hadjimanolis said the Cyprus Ship Registry had grown by 27% since September 2023, reaching its highest level in a quarter of a century. She attributed the expansion to efforts to improve competitiveness, simplify administrative procedures and provide more responsive services to international shipowners.

Cyprus’s inclusion on the White Lists of the Paris and Tokyo Memoranda of Understanding was another point highlighted by the minister. These lists reflect the safety and inspection performance of ships flying a national flag.

Existing commercial links with Japan include Safe Bulkers’ announcement in May of four Japanese-built dry bulk vessels scheduled for delivery in 2029.

South Korea Next On The Maritime Agenda

Hadjimanolis’ mission will continue in South Korea, where she is expected to attend the 2026 World Maritime Day Parallel Event and Korea Maritime Week alongside International Maritime Organization Secretary-General Arsenio Dominguez and government representatives from several countries.

Her programme will also include discussions on implementing international maritime conventions and bilateral talks aimed at strengthening Cyprus’s shipping ties with South Korea.

The Asian outreach comes as maritime centres compete for shipowners amid geopolitical uncertainty, fleet renewal and pressure to reduce shipping emissions. For Cyprus, the strategy combines promotion of its registry with closer relationships across Asia’s shipbuilding and shipping sectors.