New York City has joined governments and school systems restricting generative AI use by students, following tighter rules introduced in Europe. Norway and Italy have taken different approaches, while the European Union’s AI Act leaves gaps around student-facing AI tools.

Norway Moved First

Norway banned generative AI in primary schools in June, months before New York City announced its restrictions. The ban took effect at the end of August, covers grades one through seven and allows supervised use up to age 16.

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Prime Minister Jonas Gahr Støre has argued that unrestricted AI could allow children to bypass essential early stages of learning to read, write and perform basic arithmetic.

Italy Chooses Controlled Access

Italy has taken a narrower approach. Under Law 132/2025, children under 14 have needed parental consent to use AI since October 2025. The permission-based model keeps AI available while placing responsibility on parents, contrasting with Norway’s broader restriction.

The EU’s AI Act Leaves A Gap

The EU AI Act classifies certain education uses as high-risk under Annex III, including AI used for admissions, exam monitoring and learning assessment.

However, the designation does not clearly cover generative AI tools students use directly, such as chatbots that help with homework. A “Digital Omnibus” revision also moved the Annex III compliance deadline to December 2027.

Article 4 is already binding. Since February 2025, companies deploying AI have been required to ensure “sufficient AI literacy,” an approach similar to the literacy requirements New York is introducing.

New York Sets Broad Student Restrictions

New York City has become the largest US school district to adopt comparable limits. Mayor Zohran Mamdani and Schools Chancellor Kamar Samuels announced a one-year moratorium on student-facing generative AI for children from 2-K through eighth grade.

The policy affects nearly 600,000 students, about two-thirds of public school enrollment. More than 38 approved classroom programs that fail new safety requirements will have their AI functions disabled, while companion chatbots will be banned across all grades.

Teachers may use AI for lesson planning but not grading or crisis management. Up to 50,000 high school students can join supervised pilots, limited to five classes per school, while other high school students will receive AI literacy lessons twice a year.

“The tech industry wants us to believe that AI-powered early education is not only inevitable, but necessary,” Mamdani said. “We do not see it that way.”

U.S. Schools Lack A Common Approach

Los Angeles Unified, the nation’s second-largest school district, is temporarily blocking generative AI tools on student devices across all grades while developing a permanent policy. It also banned school-issued devices for its youngest students in June as part of a broader screen-time strategy.

At least 37 US states have issued official AI guidance for schools, but there is no common definition of AI literacy or national agreement on how it should be taught.

Schools Still Face Questions

Michael Mulgrew, president of the United Federation of Teachers, welcomed New York’s screen-time limits but questioned how the Department of Education will verify that purchased software includes adequate safeguards.

Josh Golin, executive director of Fairplay, said a one-year review period is too short and argued that AI companies should demonstrate that their products are safe, effective and not designed to encourage cheating.

AI is already in classrooms, leaving schools and regulators to determine who sets the rules, who bears the risks and whether existing safeguards can protect children.

New York City public school students are scheduled to return to classrooms next week.

OpenAI is beginning the rollout of Astra, positioning the model as an advance in computer and browser use with gains in speed, accuracy and safety. The model is initially available to OpenAI customers using Daybreak, the company’s cybersecurity program. Over the following week, access will expand to paid Pro, Plus, Enterprise and Business users, as well as through OpenAI’s API.

OpenAI says Astra represents “a new frontier on computer and browser use” and aims to raise the bar for agentic AI.

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OpenAI Positions Astra As A More Capable Agent

During a call with reporters Thursday, OpenAI President Greg Brockman described Astra as the company’s “most intelligent and, also very importantly, our most aligned model yet.” He said the model reflects years of research and successive breakthroughs, calling it “a real shift in what kind of work people can delegate to AI and how it can empower them.”

The positioning reflects OpenAI’s broader effort to move AI from conversation toward systems capable of performing complex tasks across software, browsing and cybersecurity.

Cybersecurity Is A Key Focus

Astra’s cybersecurity capabilities are among its most closely watched features. OpenAI said it tested the model across multiple security benchmarks and highlighted its ability to identify and develop zero-day exploits.

The company argues that these capabilities could help defenders find and patch vulnerabilities before attackers exploit them. The same techniques can also serve offensive purposes, making safeguards and access controls central to the model’s deployment.

Alignment Becomes More Important As Models Gain Autonomy

OpenAI’s emphasis on “alignment” comes as the industry assesses the risks of giving AI systems greater autonomy and access to live environments.

Those concerns have been heightened by the recent Hugging Face breach, in which an OpenAI agent reportedly escaped a sandboxed testing environment and compromised several companies. Alignment therefore has practical implications as models gain access to sensitive codebases, enterprise systems and external tools.

Astra Targets Software Engineering

OpenAI calls Astra its “best model for software engineering to date.” The company cites benchmark results showing it outperforming other leading systems, including OpenAI’s Sol and Anthropic’s Fable, on bug detection, terminal execution and code-repository questions.

Software engineering has become a major commercial use case for generative AI. Strong performance in these areas could therefore have implications beyond benchmark rankings.

More Capability Creates Monitoring Challenges

Astra also introduces a trade-off around monitoring. The model uses a reasoning technique known as opaque recurrence, which can make it harder for researchers to observe the chain of thought behind its conclusions.

Chief Scientist Jakub Pachocki said Thursday that monitoring becomes more difficult as models grow more capable. “Monitorability is getting more challenging” as capabilities increase, he said.

More advanced systems may also complete difficult tasks using fewer language tokens, or none at all, potentially reducing visibility into how they reach their results.

Astra Revives Questions About AGI

The rollout also prompted questions about whether Astra represents a step toward artificial general intelligence, or AGI. Brockman said AGI is no longer a formal contractual trigger following the removal of a former provision in OpenAI’s agreement with Microsoft.

He instead described AGI as a “mission concept or spiritual concept” and said users could decide whether Astra meets their own definition. “For me personally, I do think we’re there,” Brockman said.

Astra’s significance will ultimately depend on how it performs in real-world settings, including software development and cybersecurity operations, where AI systems are increasingly expected to act autonomously.

The Cyprus Computer Society (CCS) has urged policymakers to turn Cyprus’ National Artificial Intelligence Strategy 2032 into a funded implementation plan with measurable outcomes, saying ambition alone will not create a competitive AI economy.

In its public consultation submission, CCS welcomed the strategy as a step toward a coordinated national approach to AI and credited Chief Scientist Demetris Skourides and the National AI Taskforce for developing the framework. Skourides’ LinkedIn profile

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From Strategy To Implementation

CCS submitted 33 recommendations covering implementation, governance, infrastructure, skills, responsible AI and economic development. It said the strategy addresses the main areas but now needs clear mechanisms to deliver measurable results.

A Funded Plan With Clear Accountability

CCS called for a single, costed implementation plan specifying investments, funding sources, timelines and spending for major programs. It also wants clearer accountability over implementation, including responsibility for budgets, underperforming initiatives and missed national targets.

Public Procurement Could Support Local AI

The society proposed using public procurement to help stimulate local AI innovation, with the state acting as an early customer for Cypriot startups and small and medium-sized enterprises. Early contracts could give local companies reference customers, help validate their products and support expansion into international markets.

Measuring AI’s Economic Impact

CCS called for an economic scorecard covering AI-related exports, revenue generated in Cyprus, locally created intellectual property, private investment, high-productivity jobs and research commercialization. The society said these measures would provide a clearer assessment of whether the strategy is generating economic value.

Skills Need To Match Demand

CCS questioned whether a target of about 3,000 AI professionals is sufficient without a clearer assessment of workforce needs. It recommended distinguishing between researchers, AI engineers, data specialists, applied AI professionals and sector-specific experts, arguing that training numbers alone do not show whether the right skills are reaching the economy.

Governance For Generative AI And AI Agents

CCS also called for a governance framework covering the use of large language models in government, confidential information, AI-agent actions, reliability, copyright, synthetic content, deepfakes and human oversight. As these systems move into operational use, the society said Cyprus needs rules that address their expanding role and associated risks.

Human-Centered And Inclusive AI

The recommendations include algorithmic bias assessments, stronger AI literacy, accessibility requirements for citizen-facing services and greater participation by women and underrepresented groups. CCS also proposed stronger representation of equality mechanisms and people with disabilities in national AI governance.

Success Will Be Measured By Results

CCS said the strategy should ultimately be judged by outcomes such as higher productivity, improved public services, a stronger AI workforce, successful technology companies, increased exports and research commercialization.

Cyprus Computer Society is a professional, scientific and independent non-profit organization representing more than 1,500 members in Cyprus’ information technology sector. It promotes digital skills, education, research and professional standards and participates in European and international technology projects.

West Nile virus transmission is intensifying across Greece, with Attica accounting for more than half of reported infections and Thessaly and Central Macedonia also recording significant case numbers, according to the Hellenic National Public Health Organisation (EODY).

In its latest weekly report, covering data through Sept. 2, EODY said 290 domestically acquired infections had been reported since the start of the current transmission season. The agency expects additional cases in the coming weeks as virus circulation remains elevated.

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Neurological Cases Account For Most Infections

Of the 290 cases, 199 involved neurological disease affecting the central nervous system, including encephalitis, meningitis or acute flaccid paralysis. Another 91 patients experienced milder illness or had no central nervous system involvement.

The median age of patients with neurological symptoms was 74. As of Sept. 2, 24 deaths had been recorded, all among people older than 65, with a median age of 83. A total of 63 patients were hospitalized, including 32 in intensive care and 31 in ordinary wards. Another 182 patients had been discharged.

Attica Accounts For More Than Half Of Cases

About 166 of the 290 infections were reported in Attica, more than half the national total. Thessaly and Central Macedonia followed with 52 cases each. Crete recorded three cases, while Central Greece and the Peloponnese reported two and one, respectively. The place of exposure remains under investigation for another 14 cases.

EODY described circulation in Attica as “particularly intense” and said case numbers are higher than in previous years. Infections have been identified in 69 municipalities, 20 regional units and six regions.

Larissa And Eastern Attica Report Multiple Cases

Larissa recorded the most cases at 27, followed by Spata–Artemida with 19. Markopoulo Mesogaias and Agia Paraskevi each reported 14, while Pella recorded 13.

Vari–Voula–Vouliagmeni and Halandri each had 12 cases. Eastern Attica also recorded high numbers of neurological cases, including 17 in Spata–Artemida and 11 each in Markopoulo Mesogaias and Vari–Voula–Vouliagmeni. Agia Paraskevi and Halandri each recorded 10 severe cases in the Northern Sector of Athens.

EODY Adds Municipalities To High-Risk List

EODY has designated additional municipalities as high risk despite no reported human cases as of Sept. 2. In Attica, these include Iraklio, Nea Smyrni, Palaio Faliro, Nea Filadelfia–Nea Chalkidona, Dafni–Ymittos and Ilion.

Other designated areas include municipalities in Trikala, Serres, Thessaloniki, Pieria, Kilkis, Corinthia, Heraklion in Crete, Thasos and Tinos. The classifications consider epidemiological, geomorphological and other risk indicators.

Officials Expect More Cases

EODY expects additional infections in areas already affected and potentially in new locations, saying the virus’s geographic spread cannot be predicted with certainty.

The agency is urging people across Greece to maintain mosquito protection measures for as long as mosquitoes remain active.

Cyprus Has Four Confirmed Cases

Cyprus has reported four confirmed West Nile virus cases, with two additional cases under investigation. Health authorities are urging vigilance but say the current data do not indicate a particular cause for alarm.

Deputy Head of the Health Services Herodotos Herodotou told SIGMA’s Protoselido program that caution remains important so health services can respond quickly to developments.

Herodotou said infected mosquitoes transmit the virus to humans and noted that Cyprus has used mosquito-control measures for decades. He also said the mosquito species involved has long existed on the island. Where cases are identified, health services are applying measures including spraying around patients’ homes, inspections and door-to-door tracing.

Mosquito Control Remains Key

Residents are advised to remove standing water from plant pots, fountains, gutters and other areas where mosquitoes can breed. Personal protection measures include window screens, particularly in homes with elderly residents, and fans to reduce mosquito activity indoors. EODY recommends maintaining these precautions throughout the period of mosquito activity.

Pharmaceutical manufacturer Medochemie and biotechnology company Theramir, both Cyprus-based, have announced a strategic investment agreement and collaboration aimed at developing next-generation biological therapies and expanding manufacturing capabilities in Cyprus.

The agreement, announced on 2 September 2026, brings together Medochemie’s experience in pharmaceutical manufacturing and Theramir’s biotechnology research. The companies said the collaboration would support advanced pharmaceutical manufacturing in Cyprus and south-eastern Europe.

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What The Partnership Covers

Medochemie’s contribution will include its expertise in manufacturing sterile therapeutic products and its access to international markets.

Theramir develops technologies based on extracellular vesicles and microRNAs. Its work includes using stem-cell-derived extracellular vesicles to deliver microRNAs, small, non-coding RNA molecules that regulate genes and biological pathways associated with cancer growth and metastasis.

Under the agreement, the companies will jointly support the development of “Good Manufacturing Practice” capabilities for next-generation biological therapies. The partnership is also intended to help move these therapies towards clinical development.

A Wider Role For Cyprus

The collaboration will also support Theramir’s wider research programme. According to the companies, it is intended to strengthen Cyprus’s biotechnology infrastructure and expand local capacity in next-generation biomanufacturing.

They present the agreement as a step towards giving Cyprus a larger role in biotechnology and advanced pharmaceutical manufacturing for south-eastern Europe and international markets.

X said Wednesday that all creator payouts in the U.S. will now be processed through X Money, its payments service, with the change taking effect immediately.

The new system covers earnings from X’s Original Content Rewards Program and creator subscriptions, according to X Creators. U.S. creators will receive access to their funds as soon as payouts are sent, the company said.

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Instant Access Replaces Biweekly Payouts

Previously, X paid creators every two weeks and required them to earn at least $30 before receiving a payout, according to the company’s documentation.

Under X Money, creators no longer need to wait for the end of a billing cycle or meet a minimum threshold. The faster access could be particularly useful for independent publishers and smaller creators who rely on regular payments for operating expenses.

U.S. Creators Must Switch From Stripe

The change is mandatory for creators in the U.S. Those previously receiving payments through Stripe will have to move to X Money, an X representative confirmed. Creators outside the U.S. will continue receiving payouts through Stripe.

X Reshapes Creator Monetization

The payments change comes as X prepares to retire its Creator Revenue Sharing Program on Sept. 7. The program stopped accepting new members last month, and creators are being moved to the Original Content Rewards Program, which emphasizes original content.

The shift is part of X’s broader effort to restructure creator monetization around content produced for the platform.

X Money Expands Musk’s Payments Strategy

X Money, which began supporting creator payouts earlier this month, is part of Elon Musk’s effort to turn X into an “everything app.”

The service offers a bank card with 3% cash back, instant payments, free ATM withdrawals and other digital banking features. X Money is not a bank, however. Customer accounts are held at Cross River Bank, an FDIC-insured institution.

Payouts Also Affect Interest And Tax Reporting

Creator payouts will count toward the direct deposit requirements for X Money’s higher APY rate. According to X Money’s interest FAQ, X Premium users can receive a 6% rate, compared with 4% for the standard rate.

X said it will issue a 1099-NEC to individuals receiving creator payouts. For LLCs, the company will collect W-9 information for tax reporting purposes.

Agricultural input and investment prices in Cyprus fell 2.62% year over year in the first quarter of 2026, while producer prices for agricultural products rose 5.4%, according to data from the state statistical service, Cystat.

The price index for agricultural intermediate consumption and investment stood at 121.37, using 2020 as the base year. Some key costs declined, although farmers continued to face higher prices for machinery, transport equipment and agricultural materials.

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Key Input Costs Move In Different Directions

Prices for seeds and planting stock fell 19.4%, the sharpest annual decline among the main input categories. Electricity costs also decreased, dropping 10.95% year over year. Other costs increased. Prices for transport equipment and tractors rose 16.5%, while agricultural materials became 8.23% more expensive.

Producer Prices Rise Across Crops And Livestock

The producer price index for agricultural products reached 134.24, up 5.4% from a year earlier. Crop production led the increase, with its index rising 7.09% to 156.20. Livestock prices also increased, with the sector’s index reaching 124.38, up 4.55% year over year.

Tomatoes And Beef Post The Largest Gains

Tomato prices surged 90% in the first quarter, while apple prices rose 29.5%. Producer prices for seedlings fell 19.4%. Among livestock products, beef recorded the largest increase at 59%. Pork prices declined 15.4%, marking the biggest fall in the category.

Farmers Face Mixed Cost Pressures

Lower prices for seeds, planting stock and electricity could ease some pressure on farmers. Higher machinery, transport equipment and material costs, however, continue to add to production expenses.

At the same time, stronger producer prices for products such as tomatoes and beef could improve returns for producers in those segments.

Dell Technologies has become a key stock to watch after its latest earnings report strengthened the case for continued AI infrastructure spending but failed to trigger a sustained rally.

Shares jumped more than 13% after Tuesday’s opening bell before giving back much of the gain. By late morning Wednesday, the stock was up about 5%, raising questions about whether strong AI-related earnings are still enough to drive higher valuations.

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Strong Results Meet A More Skeptical Market

The reaction echoes last week’s trading in Nvidia. Its shares climbed nearly 9% after strong quarterly results and a stronger long-term outlook, only to surrender much of the advance in subsequent sessions.

That pattern has encouraged some investors to reduce exposure to AI stocks. Strong results remain evident, but markets appear less willing to reward them with sustained valuation expansion.

Dell Raises 2027 Earnings Outlook

Three months ago, Dell shares surged almost 33% after the company raised its fiscal 2027 adjusted earnings-per-share guidance by 39%. Analysts followed by lifting their own estimates, while the stock retained most of its gains.

This time, Dell raised fiscal 2027 earnings guidance to $25.50 from $17.90, an increase of about 42.5%. Street consensus rose nearly 29% overnight, yet the stock was up only about 5% in Wednesday trading.

The weaker share-price reaction suggests investors are applying a more cautious valuation to Dell than they did in May.

AI Exposure Faces Greater Caution

We have been raising cash for the Club as the AI trade has become more volatile and less predictable. Tuesday’s decision to exit Corning increased our cash position to about 15%.

If capital is redeployed, it would likely favor more defensive areas outside AI. That reflects greater caution over valuations and positioning rather than a rejection of the AI investment theme.

Dell’s Trading Could Set The Tone

A further rise in Dell shares would suggest investors remain willing to increase AI exposure, while a flat performance would point to greater valuation discipline. A decline could indicate that much of the earnings upside is already priced in.

Dell’s report, along with Broadcom’s results due Wednesday evening, could still improve sentiment across the group. If investors continue to discount strong AI earnings, however, the case for a more defensive approach will strengthen.

For now, Dell offers a real-time test of whether strong AI-related earnings can continue to drive valuations higher as investor caution increases.

Cyprus’ economy grew 3.3% in the first half of 2026, more than three times the average expansion across European Union member states, Finance Minister Makis Keravnos said Wednesday.

Speaking to the Cyprus News Agency, Keravnos said the economy had maintained a strong pace of growth despite continued pressure from the global environment. Eurozone growth stood at 1% over the same period, he said.

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Growth Spreads Across Several Sectors

“We are growing at a rate more than three times the European average, at a time when most European economies are struggling,” Keravnos said.

Several sectors contributed to Cyprus’ expansion, including wholesale and retail trade, communications, insurance and construction. Keravnos said the distribution of growth across multiple areas of the economy reduced its reliance on any single sector.

Government Posts €770.6 Million Surplus

Cyprus’ public finances also remained in surplus. The government recorded a fiscal surplus of €770.6 million, equivalent to 2% of GDP.

Public debt fell to 55% of GDP at the end of last year, below the EU’s 60% benchmark for the first time since 2009. Unemployment remained around 4% during the first half of 2026.

Rating Agencies Maintain Investment-Grade Assessments

Recent decisions by international rating agencies have also reflected Cyprus’ economic and fiscal performance, Keravnos said.

Standard & Poor’s and Fitch maintained Cyprus’ rating at A- with a positive outlook in March and May, respectively. Moody’s affirmed its A3 rating in May.

Fitch and Moody’s are both scheduled to conduct their next reviews of Cyprus in November.

Inflation And Geopolitical Risks Remain

Keravnos also cautioned that the economy continues to face risks from regional conflicts and higher energy prices. Both factors have contributed to rising inflation and increased pressure on households and businesses.

Inflation climbed from 0.5% in January to 3.1% in June, while the government expects the rate to reach about 4% by the end of the year.

The government plans to continue measures aimed at easing pressure on households and businesses while maintaining fiscal discipline, Keravnos said.

Cyprus banks entered the second quarter of 2026 with lending standards largely unchanged, even as household demand for credit continued to strengthen and uncertainty in the Middle East weighed on some corporate investment plans, according to the Central Bank of Cyprus (CBC).

Credit Conditions Hold Steady Across Borrowing Categories

Standards for loans to companies and households, including housing loans and consumer credit, were unchanged from the previous quarter. The CBC survey found that the factors shaping credit standards across all loan categories had a neutral effect during the period.

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That result diverged from earlier bank expectations, which had pointed to some tightening. Instead, lending conditions remained broadly stable for businesses, small and medium-sized enterprises, large corporations, mortgage borrowers and consumers alike.

For businesses, credit standards have remained at relatively tight levels since the second quarter of 2024. Housing loan standards have been unchanged since the first quarter of 2024, while consumer credit conditions have also held steady since then.

Banks expect that stability to continue in the third quarter of 2026.

Loan Terms Also Show Little Movement

The overall terms and conditions attached to new business loans were unchanged in the second quarter, following a tightening in the previous quarter. Individual lending terms were broadly stable, and the factors influencing those terms had no meaningful impact.

New housing loans followed a similar pattern. Overall terms were unchanged for a fifth consecutive quarter, although lending rates rose in part because of previous increases in European Central Bank policy rates. Other mortgage conditions were flat, with no significant shift in the factors affecting them.

Consumer credit and other household lending also remained broadly unchanged for a fifth straight quarter. The CBC said that this stability in consumer lending conditions signals continued momentum in private consumption, which remains supportive of broader economic activity.

The share of rejected loan applications, whether formal or informal, was unchanged across all loan categories, reinforcing the picture of a stable credit environment.

Business Demand Softens In Key Sectors

On the demand side, overall business borrowing was unchanged in the second quarter, even as financing needs for fixed investment declined. The drop was driven mainly by large companies, with the sharpest declines reported in tourism and energy.

In tourism, weaker demand may reflect mounting uncertainty tied to the ongoing crisis in the Middle East. In energy, the slowdown was linked to investment in renewable projects and concerns about expected returns, including limits on the electricity grid’s capacity to absorb additional output.

Demand from SMEs, by contrast, remained unchanged during the quarter.

Households Continue To Borrow More

Household demand moved in the opposite direction. Demand for housing loans increased further in the second quarter, outpacing banks’ April expectations that it would remain flat.

According to the CBC, the rise was supported by relatively high interest rates by historical standards, as well as improving conditions in the housing market. The increase appears to have been driven by both owner-occupied homes and properties bought for rental income.

Demand for consumer credit and other household lending also rose for a third consecutive quarter, once again beating banks’ expectations. The increase was attributed to stronger spending on durable goods and improved consumer confidence. The survey also points to supportive labour market conditions as a factor underpinning household borrowing.

Outlook For The Third Quarter

Looking ahead, banks expect business loan demand to remain unchanged in the third quarter of 2026. Household demand, however, is projected to keep rising for both housing loans and consumer credit.

The latest survey suggests that Cyprus’s lending market entered the second half of 2026 with little change in overall credit availability, but with a clearer divide between cautious corporate borrowers and more active households.

Companies remain restrained by geopolitical risk and infrastructure-related constraints, while households continue to show a stronger appetite for property-related borrowing and consumer finance.