Water security stands among the most critical areas in managing natural resources and maintaining national safety. Danny Lacker, head of the Water Security, Emergency Preparedness, and Cybersecurity Directorate at Israel’s Water Authority, recently addressed the modern challenges, threats, and collaborative opportunities between Israel and Cyprus. Speaking at an event hosted at the Kebe Center in partnership with the Cyprus-Israel Business Association and the Israeli Embassy, Mr. Lacker showcased Israel’s innovative practices in water management and crisis response, all aimed at ensuring a safe and sustainable water supply.

Modern Challenges And Evolving Threats

According to Mr. Lacker, both Israel and Cyprus face common natural threats such as earthquakes and tsunamis—a risk enhanced by their distinctive geological settings along the Syrian–African Rift and the impacts of climate change. Coupled with these are significant geopolitical pressures, notably cyber attacks orchestrated by hostile entities. Israel’s experience, including numerous cyber breaches aimed at undermining water infrastructure, underscores the multifaceted nature of today’s water security challenges.

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Integrating Cybersecurity With Critical Infrastructure

In Mr. Lacker’s view, cybersecurity is not a peripheral issue but an integral element of water security. Whether a system faces a natural disaster, physical sabotage, or a digital breach, the primary objective remains the uninterrupted provision of safe water and the functional integrity of sewage systems. Israel’s approach involves comprehensive scenario planning, prevention strategies, and robust response mechanisms that are critical in mitigating both tangible and digital risks.

Lessons From International Crisis Response

A testament to Israel’s commitment to water security is its international humanitarian effort. In 2020, Israel dispatched a rapid response team and desalination equipment to the Grand Bahama Island after severe flooding compromised local water supplies. This coordinated operation not only provided immediate relief but also empowered local technicians with the skills and tools necessary for long-term resilience. Such experiences highlight the value of proactive planning and international cooperation.

Cross-Border Collaboration And Shared Expertise

Given their proximity—only a 45-minute flight apart—both nations benefit from sharing similar challenges and systems. Mr. Lacker emphasizes that strategic collaboration, such as joint training exercises and the exchange of technical know-how, is essential. By understanding and learning from each other’s water management practices, both countries can rapidly respond to crises, ensuring that their communities remain protected against unforeseen disruptions.

The Role Of Technology And Innovation

Modern water systems are underpinned by advanced control technologies and information systems that are in constant evolution. Staying ahead requires continuous updates and daily monitoring of emerging threats. In his remarks, Mr. Lacker pointed out that solutions effective today might be inadequate tomorrow. He advocates for expanded cooperation with both government bodies and the private sector—not just within Israel but also extending to Cyprus—to deliver sustainable and innovative water security solutions.

Preparing For An Uncertain Future

Planning for future scenarios such as climate change, drought, and escalating cyber threats demands forward-thinking and investment in redundancy. Mr. Lacker warns that without adequate preparedness, even minor breaches can lead to significant operational failures. The emphasis is on disciplined training, stringent protocol adherence, and the adoption of innovative defenses to safeguard water infrastructure effectively.

A Call To Action For Policy Makers And Business Leaders

In his concluding remarks, Mr. Lacker urged policy makers and business executives in Cyprus to heighten their awareness of the growing cyber risks and the broader challenges facing water security. He stressed that false information or even minor disruptions have the potential to trigger widespread panic. Embracing coordinated planning, technological upgrades, and robust policy frameworks is imperative for securing a future where everyone enjoys consistent access to safe water.

Looking Ahead: A Stronger, United Future

Reflecting on his visit to Cyprus, Mr. Lacker noted the operational and geographical closeness between the two nations. While differences exist in the structures of their respective water systems, the common challenges demand a united approach through shared exercises, technology transfers, and continuous dialogue. In his own words, much like borrowing sugar from a neighbor in times of need, deeper collaboration between Israel and Cyprus promises to yield better ideas and more effective, sustainable solutions for water security in the region.

Cyprus has recently garnered international acclaim by receiving the Best Global Climb Award Among EU Countries at the 3rd Edition of the StartupBlink Startup Ecosystem Awards. This significant honor was announced by StartupBlink, a leading global research platform renowned for its comprehensive mapping and analysis of startup ecosystems.

Driving Innovation Through Strategic Leadership

The accolade was awarded to the Research and Innovation Foundation (RIF), the national body responsible for promoting research, innovation, and technological advancement. RIF’s strategic initiatives have not only accelerated technological development within Cyprus but have also overseen the island’s remarkable ascendancy in the StartupBlink Startup Ecosystem Index Global Ranking, marking it as the EU member state with the most notable improvement.

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A Growing Hub With Global Impact

This recognition underscores Cyprus’ transformation into a competitive innovation hub on the European stage. The award is a testament to the island’s dynamic research ecosystem, which is increasingly drawing international attention and fostering global partnerships. By integrating local researchers into broader European and international projects, RIF is poised to amplify Cyprus’ presence in the global innovation landscape.

Further Information

For additional insights into Cyprus’ innovation strategies and grant programmes, please visit the Research and Innovation Foundation website. Interested parties may also contact the foundation via email.

Recent Eurostat data reveal that nearly 18% of Cypriot household expenditures are allocated to housing, water, electricity, and fuels. This slowdown in consumer spending growth contrasts sharply with trends across the European Union, where spending is accelerating. Adjusted for inflation, Cypriot household expenditures increased by 1.5% compared to a modest 0.3% rise in 2023, while Eurozone figures improved from 0.5% to 1.3% in the same period.

Comparative Analysis Across the European Union

Despite a marked slowdown in Cyprus—from an annual growth rate of 6.1% in 2023 to 3.6% in 2024—the nation still ranks fourth in household spending relative to GDP at 61.6%, trailing only Greece (75.3%), Croatia (70.5%), and Portugal (66%). Across the EU, the most significant spending increases were recorded in Malta (+8.8%), Romania (+5.6%), and Hungary (+5.3%), whereas Finland experienced a slight contraction of 0.5% in 2024.

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Breakdown Of Expenditure Categories

European households continue to dedicate the largest share of their budgets to housing, utilities, natural gas, and other fuels. Countries such as the Czech Republic (32.1%), Finland (29.6%), and Denmark (28.5%) lead in this category, while Croatia (14.4%), Malta (15.1%), and Latvia (15.8%) report significantly lower proportions. In Cyprus the share for these critical expenses is slightly higher at 17.8%, with Greece following at 21.8%.

Food and nonalcoholic beverages also command substantial household budgets. Romania tops this segment with 23.1% of expenditures, followed closely by Bulgaria and Latvia (both at 20.1%), and Slovakia (19.7%). On the lower end, Luxembourg (9.3%), Ireland (9.8%), and Austria (10.2%) report the smallest proportions, while Cyprus’ allocation stands at 12.5%.

Meanwhile, transportation expenses vary considerably. Slovenia (17.0%), Lithuania (15.2%), and Germany (14.2%) represent the greater extents of spending, while Slovakia (5.8%), Croatia (8.2%), and the Czech Republic (8.5%) show lower shares.

Economic Recovery And Shifts In Consumer Behavior

The broader European picture demonstrates the lingering impact of recovery since 2022. While categories such as dining and accommodation, along with transportation, continued to grow in 2024 following robust gains in previous years, the pace has moderated. Conversely, spending on clothing, footwear, alcoholic beverages, tobacco, and other substances has experienced a downward adjustment.

In aggregate, household spending in the EU reached 51.8% of GDP in 2024—a minor decline from 51.9% in 2023—and is 2.2 percentage points lower than the 54.1% recorded in 2014. These shifts signal recalibration in consumer priorities as economies transition through post-pandemic recovery phases.

The Ministry of Finance is undertaking a comprehensive review of the student subsidy framework. This initiative, aimed at enhancing government policy toward student welfare, will incorporate recent shifts in economic indicators and the evolving income distributions among families.

Analyzing Economic Scenarios

According to data presented to the House of Representatives, the ministry is evaluating several scenarios to update and refine the student assistance program. The exercise is designed to ensure that current economic realities are adequately reflected in the criteria for student welfare, thus improving its overall efficacy.

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Targeted Support For Students And Their Families

Minister Makis Keravnos, speaking on behalf of the Ministry of Finance, emphasized that the overhaul seeks to transform student allowances into a robust instrument that not only encourages higher education participation but also mitigates social inequalities. “Special emphasis will be placed on supporting families facing considerable economic challenges so that the policy remains fair, targeted, and socially sensitive,” he noted.

Reconsidering Income And Wealth Criteria

In response to a member of parliament’s queries, Keravnos clarified that although modernising student welfare is a priority, its implementation cannot be automatically linked to the general income tax framework. Simultaneously, the ministry is proposing legislative adjustments to remove income and asset thresholds for the allocation of student allowances to families with five or more dependent children. Currently, extending this measure to families with four or more dependents is constrained by fiscal limitations.

Fiscal Implications And Future Policy Adjustments

The minister also warned that any potential removal of income criteria for larger families might create pressure for increased benefits across other programs, potentially leading to high recurring costs and jeopardizing fiscal stability. He underscored that these changes would not have a retroactive effect and would only apply from the date the new legislation is enacted.

Conclusion

The review of the student subsidy framework marks a significant step toward aligning educational support with current economic conditions, ensuring that government aid remains both equitable and sustainable amidst tightening public finances.

Commissioner Maria Christofidou, the authoritative figure in personal data protection, has recently reiterated her support for the government’s ambitious tax reform measures. On both November 14 and November 21, she underscored the need for a balanced approach that safeguards citizens’ privacy while reinforcing the fiscal system.

Addressing Previous Concerns

Earlier, the Commissioner expressed worries about the excessive centralization of power within the Tax Department, a concern detailed in a recent analysis. Her latest recommendations echo these early concerns by emphasizing that any adoption of advanced artificial intelligence systems by the tax authority must be accompanied by robust data protection measures.

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Integrating Safety Valves With Artificial Intelligence

The Commissioner is calling for the integration of explicit safety mechanisms within the legislative framework governing tax reform. This provision is critical to ensure that the collection, analysis, and processing of mass data—spanning both public and private sources—remain strictly aligned with the overarching principles of the General Data Protection Regulation (Gdpr). The proposed measures would mitigate risks of bias, discrimination, and potential infringements on individual privacy that could arise from algorithm-driven decision-making.

A Call For Transparent And Effective Governance

In her communication with the Parliamentary Committee on Finance, Christofidou welcomed the government’s initiatives aimed at curbing tax evasion and avoidance. However, she stressed that any legal framework established must be robust, transparent, and capable of balancing effective tax collection with stringent data protection standards. Central to this balance is the necessity for comprehensive data governance and mandatory impact assessments under Articles 35 and 36 of the Gdpr.

Legislative Timetable And Future Implications

The Commissioner further argued that the forthcoming tax reform legislation, particularly the Guarantee and Collection Act, should include a general provision that refers explicitly to the Gdpr. This measure is intended to ensure that all data collection and processing activities conducted by the tax authority are performed within an established regulatory framework that upholds legality, integrity, objectivity, transparency, and proportionality.

Additionally, she recommended that, should the Tax Department employ artificial intelligence systems in its operations, an in-depth data protection impact assessment must be completed. This proactive approach would provide a crucial safeguard both for the tax authority and any entity that contributes data, thereby bolstering confidence in the public administration’s handling of sensitive information.

Imminent Parliamentary Review

Simultaneously, deliberations continue in the Parliamentary Committee on Finance, where six draft bills are under discussion. Owing to time constraints, an emergency session has been scheduled for Thursday. In response to government directives, the legislature is expected to approve the tax reform initiative before year-end to facilitate its implementation by January 1, 2026. It is anticipated that the draft bills will be presented before the full Parliament during the first half of December.

The Commissioner’s remarks underscore the critical intersection of technological innovation and regulatory oversight in contemporary tax administration—a balance that will define the future of both fiscal policy and data privacy.

At the 34th General Assembly of the International Maritime Organisation (IMO) in London, Cyprus and Greece presented a cohesive vision for a robust, equitable, and forward-looking maritime framework. The two nations emphasized the need for regulations that balance environmental ambitions with the economic realities of global trade.

Unified Vision For Sustainable Regulation

Representing Cyprus, Shipping Deputy Minister Marina Hadjimanolis outlined an agenda centered on cooperation, resilience, and progress. Highlighting the importance of agile and credible governance, she stressed that the IMO must bolster technical collaboration and drive innovation to safeguard both the maritime sector and the world’s oceans for future generations. Hadjimanolis underscored Cyprus’s commitment to a strong, fair, and inclusive organisation, noting the steadfast unity of member states in striving for a financially sound and forward-looking IMO.

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Championing Innovation And Historical Heritage

Greece, meanwhile, reinforced parallel priorities while advancing its candidacy for Category A membership on the IMO Council. Minister of Shipping and Island Policy Vasilis Kikilias articulated Greece’s deep historical ties to the sea—a narrative that spans from ancient maritime legends to the modern economic imperatives of today. His appeal to IMO delegates was a call not only to support Greece’s national interests but also to endorse a global regulatory framework that incorporates contemporary realities, such as the rise of LNG as a pivotal fuel source.

Balancing Environmental Goals With Economic Realism

Both ministers converged on the necessity of avoiding a fragmented regulatory landscape that could hinder international shipping. Kikilias warned that an array of disparate regulations would only complicate global maritime operations, advocating instead for rules that marry environmental ambition with economic practicality. He cautioned against punitive measures in the green transition and stressed the need for realistic timelines and incentive mechanisms to prevent economic and technological disruptions.

Ensuring Global Trade Stability

Addressing the broader impact of maritime policies, Kikilias reminded delegates that 80 to 90 percent of world trade is transported by sea. This statistic underlines the global responsibility to manage issues of green energy, competitiveness, and cost pressures with precision. Emphasizing the interconnected challenges of energy prices, inflation, and freight costs, he called for collective action to protect both the economic future and environmental well-being of nations. His closing remarks condemned all attacks on merchant ships and seafarers, denouncing piracy as a severe threat to global commerce.

By championing coordinated global solutions, both Cyprus and Greece reaffirmed the IMO as the central forum for ensuring stability and fairness in maritime regulation. Their speeches underscored a shared commitment to building a sustainable maritime future that honors both historical legacies and modern economic imperatives.

Uber has escalated its commitment to autonomous mobility by launching fully driverless rides in Abu Dhabi. In a strategic collaboration with Chinese autonomous vehicle pioneer WeRide, this marks the company’s fourth market rollout and the first driverless robotaxi service in the Middle East.

Strategic Partnerships Fueling Innovation

The initiative builds on Uber’s substantial investments in autonomous technology. Previously deployed in major U.S. markets such as Phoenix, Atlanta, and Austin, these robotaxi services feature a combination of advanced artificial intelligence and onboard safety measures. In key international expansions, such as Riyadh and soon to be in 15 additional cities across Europe, Uber continues to set the pace for robotaxi integration.

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Elevating The Ride Experience

Abu Dhabi residents can opt for a WeRide robotaxi when booking an UberX or Uber Comfort ride, with services operating in designated areas of Yas Island. The system enhances rider confidence by providing optional on-board support via an in-app feature and an in-vehicle tablet, ensuring that safety remains paramount despite the absence of a traditional driver.

An Industry Trend Towards Autonomy

Uber’s ongoing collaboration with technology leaders underscores a broader industry shift towards autonomous solutions. Competitors such as Lyft have similarly embraced partnerships—for instance, a recent collaboration with Waymo to launch robotaxi services in Nashville. Furthermore, Uber’s groundbreaking agreements with electric vehicle manufacturer Lucid and autonomous startup Nuro signal a robust commitment to evolving the future of urban mobility.

Looking Ahead

While revenue-sharing details remain under wraps, Uber’s continued exploration of autonomy-driven services highlights the competitive edge sought within the rapidly transforming transportation sector. As the company scales this technology globally, market watchers and urban commuters alike are poised to witness the rising prominence of robotaxi operations.

The Cyprus Institute of Certified Public Accountants (ICPAC) and the Cyprus Compliance Association (CCA) have formalized a strategic Memorandum of Understanding (MoU) to enhance corporate governance, transparency, and compliance practices across the Cypriot market. Designed to foster a progressive professional environment, the agreement establishes a long-term framework for collaboration that spans expert knowledge exchange, regulatory oversight, and advanced risk management initiatives.

Comprehensive Framework For Enhanced Professional Standards

The comprehensive agreement outlines a coordinated approach to match evolving regulatory demands and anti-money laundering protocols with robust sanctions and risk management measures. By uniting expertise from both organizations, the initiative aims to seamlessly integrate compliance best practices while reinforcing transparency throughout the financial ecosystem.

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Commitment To Designed Training And Continuous Improvement

The MoU further advocates for expanded professional education, leveraging joint training initiatives such as conferences, workshops, and specialized seminars. The collaboration is set to introduce innovative certification programs, ensuring elevated service quality and extending protections to both the business community and society at large.

A Vision For A Resilient And Forward-Looking Environment

CCA President Andrea Moundi Savvides expressed strong optimism about the partnership on her personal social media platforms, emphasizing that the MoU is a pivotal step in advancing governance, compliance, and risk management within Cyprus. With ongoing dialogue and the systematic exchange of non-confidential information, both parties are committed to leading a unified front through rigorous research, joint studies, and public consultations on emerging regulatory challenges.

Leadership And Future Prospects

Signed by ICPAC President Odysseas Christodoulou and CCA President Andrea Moundi Savvides, the agreement underscores a mutual dedication to fostering a resilient, forward-thinking professional environment in Cyprus. This strategic partnership not only represents a significant advancement in corporate governance but also sets a benchmark for collaborative excellence in the region.

Fourlis Group has reported a notable surge in sales and profitability for the first nine months of 2025, driven by the continued expansion of its IKEA, Intersport, and Foot Locker networks across Greece, Cyprus, and Romania. The consolidated results underscore the company’s disciplined strategy and robust operating performance.

Impressive Financial Results

The latest financials display a marked increase in revenue to €430.7 million from €390 million the previous year. Gross profit rose to €200.7 million compared to €180.2 million in 2024, while earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to €53.7 million, resulting in a margin of 12.5 percent.

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Furthermore, Earnings Before Interest and Taxes (EBIT) climbed to €30.6 million from €21.9 million, and net profit nearly doubled to €13 million, up from €7.5 million, driven by enhanced operating productivity and stronger contributions from associates.

Dominance of The IKEA Division

The IKEA division remains the largest revenue contributor with sales reaching €170.4 million, marking a 5.1 percent year-on-year increase. Gross profit for the division advanced to €73.4 million, while segment EBIT expanded to €12 million from €8.2 million, buoyed by new store openings and sustained customer demand.

Sports Retail and Health Segments Surge

The sports retail segment, which includes Intersport and Foot Locker, delivered significant growth. Sales increased to €157.7 million from €130.7 million, with EBITDA rising to €14.3 million and EBIT improvement from €2.3 million to €4.3 million. Similarly, the Holland & Barrett health and wellness segment experienced growth with revenue climbing to €24 million from €19.3 million, and an increase in gross profit to €17.2 million, supported by an EBITDA of €1.5 million.

Strategic Investment And Regional Expansion

Fourlis Group maintained a high level of investment activity during the period. Total capital expenditures reached €106.6 million, which included €63.8 million allocated for property via Trade Estates, €27.6 million for digital transformation initiatives, and €10.1 million towards expanding store footprints across its key retail brands. Although the majority of operations are centered in Greece and Romania, Fourlis continues to solidify its strategic presence in Cyprus, operating the IKEA store in Nicosia, a Pick-Up & Order Point in Limassol, and complementing these with the Cyprus e-shop and various sports retail outlets.

For further details, please visit the official Fourlis website.

Resilience In The Face Of Cyber Challenges

While the Cyprus operations experienced a temporary disruption due to a ransomware cyberattack last year, affecting online services including the e-commerce platform, the company confirmed that no personal data was compromised and that online operations were gradually restored. Despite this challenge, Fourlis remains committed to its growth trajectory for 2025.

Looking Ahead

Analysts observe that Greek retailers are strategically expanding across the Cypriot market, reshaping the local landscape in home furnishings, sportswear, and consumer goods. With an EBITDA-adjusted figure of €57.5 million signaling improved operating performance, Fourlis Group anticipates stable growth for the remainder of 2025, underpinned by ongoing network expansion, resilient consumer demand, and a continued focus on investment in logistics and digital systems.