Recent data from Eurostat, analysed by Euronews, showed that 21.3% of employees across Europe regularly work during weekends, highlighting significant regional differences in labour patterns across the continent.

Regional Variations In Weekend Employment

Weekend work remains most common across parts of the Balkans and Mediterranean region, particularly in economies strongly connected to tourism, hospitality, retail and services. Greece recorded the highest share, with 41% of workers regularly employed during weekends. High levels were also reported in Bosnia and Herzegovina at 33%, while Malta, Cyprus and North Macedonia each reported figures close to 32%.

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Limited Weekend Work In Northern And Eastern Europe

By comparison, significantly lower levels of weekend employment were recorded across Northern and Eastern Europe, reflecting different labour market structures and sectoral priorities. Lithuania reported the lowest percentage, with only 4% of workers employed during weekends, followed by Hungary at 7% and Poland at 7.5%.

The figures underline how working patterns and work-life balance continue to vary considerably across European economies.

Industry Leaders In AI Clientele

Anthropic now has a larger share of verified business customers than OpenAI, according to new data from Ramp’s AI Index. The index, based on expense data from more than 50,000 companies, showed that 34.4% of participating businesses subscribed to Anthropic services, compared with 32.3% for OpenAI.

Significant Growth In Target Sectors

Ara Kharazian said Anthropic’s strongest adoption has come from sectors including finance, technology and professional services. According to Kharazian, Anthropic has maintained a lead within several high-adoption enterprise categories, while OpenAI’s market share has gradually declined in recent months. Despite the shift, OpenAI continues to hold strong positions across parts of the broader AI market.

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Robust Data-Driven Insights

The survey, while representative of the subset of companies using Ramp services, spans a broad and diverse group, thereby lending credence to the emerging industry trend. Data from OpenRouter’s leaderboard further corroborates this pattern, with OpenAI last ranking above Anthropic in December 2025.

Strategic Execution And Future Prospects

Anthropic’s growth accelerated significantly over the past year. In May 2025, approximately 9% of businesses tracked by the index used Anthropic products. That figure increased by 26 percentage points over the following 12 months. During the same period, OpenAI’s share declined by 1%, despite overall AI adoption across businesses increasing by 9%. Kharazian attributed Anthropic’s growth to its enterprise-focused strategy and concentration on technical customers before expanding into broader business use cases through additional tools and services.

Capital Influx Propels Anduril’s Growth Trajectory

Anduril, the defense technology powerhouse, has closed a monumental $5 billion Series H funding round at a $61 billion valuation. This round, led by returning investors Thrive Capital and Andreessen Horowitz, marks a significant milestone for the company. The deal follows earlier reports that the company was aiming for a $60 billion valuation, and it comes on the heels of a previous funding round that valued Anduril at $30.5 billion less than one year ago.

Revenue Acceleration And Investor Confidence

CEO Brian Schimpf recently highlighted in a company blog post that Anduril’s revenue doubled in 2025 to reach $2.2 billion. This impressive growth reflects both robust investor confidence and the maturation of an industry that, until recently, attracted minimal venture capital. The company’s sustained performance underscores its dominant position within the defense technology sphere.

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Strategic Partnerships and Market Expansion

While Anduril secures the bulk of venture capital support, the U.S. Department of Defense is strategically dispersing its contracts to foster multiple innovative partnerships. For instance, Shield AI recently had its software selected by the Air Force to complement Anduril’s “Fury” autonomous system rather than awarding an exclusive contract. This collaborative approach reflects a broader trend in defense procurement, where innovation thrives through diversified investments.

Global Contracts And Diversification

Outside the United States, Anduril has continued expanding its international presence through several new contracts and partnerships. In May, the company joined a consortium developing a space-based missile defense system known as the “golden dome.” Additional agreements include projects with the Dutch Ministry of Defence and a U.S. Army contract tied to battle management software using Anduril’s Lattice platform.

Sector-Wide Momentum In Defense Technology

Anduril’s valuation growth also mirrors broader momentum across the defense technology sector. This year, Shield AI raised $1.5 billion in Series G funding, while Hermeus secured $350 million at a valuation above $1 billion. Meanwhile, European defense technology company Helsing is reportedly preparing a new funding round that could value the business at approximately $18 billion. Collectively, Anduril has now raised more than $11 billion.

A New Era In Defense Investment

The latest funding round further highlighted growing venture capital interest in defense and security technologies amid increasing geopolitical tensions and rising demand for advanced autonomous systems. With expanding international contracts, rising revenue and continued investor support, Anduril is strengthening its position within the rapidly growing defense technology market.

Streamlined Content Access

X has introduced a new History tab designed to centralize saved and previously viewed content within the platform. The feature combines bookmarks, likes, videos and articles into a single interface aimed at making content easier to revisit and organise. Initially launching on iOS, the update replaces the previous Bookmarks button in the left-side mobile menu.

Enhanced Organization And Personalization

The History tab separates content into four categories: bookmarks, likes, videos and articles. While bookmarks and likes reflect content users intentionally save or engage with, the videos and articles sections automatically track viewed material within the platform. Nikitia Bier said the feature is designed to keep saved and viewed content private while improving navigation and accessibility.

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A Strategic Pivot For Content Consumption

The update also reflects X’s broader effort to position itself as a more comprehensive content and information platform. By consolidating previously separate features into one section, the company is expanding beyond short-form social interaction toward a more personalised content consumption experience. The redesign may also encourage greater use of X’s long-form article format, which the platform has increasingly promoted for creators, publishers and businesses.

Opportunities For Creators And Publishers

The updated History tab emerges at a time when traditional referral traffic from giants like Facebook and Google is waning due to evolving algorithms and AI-driven experiences. X is leveraging this trend as an opportunity to attract publishers and content creators by offering built-in distribution and discovery tools. This strategic evolution not only benefits users by making content easier to track and revisit, but also incentivizes high-quality, long-form contributions directly on the platform.

Instagram has officially announced the global rollout of Instants, its latest innovation designed for authentic, ephemeral photo sharing. Developed to capture genuine moments, this new feature encourages users to share candid snapshots that disappear after a single view and remain available for just 24 hours.

Embracing Authenticity In A Curated Era

Long known for its polished, curated visuals, Instagram is now shifting its focus to more natural content. With Instants, users capture photos using Instagram’s in-app camera without the ability to edit or upload from their device’s gallery. This deliberate restriction aligns closely with trends pioneered by platforms such as Snapchat, Locket, and BeReal, ensuring that the content remains fresh, spontaneous, and true to life.

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Enhanced Interaction And Robust Privacy Controls

Recipients of Instants can respond using reactions, emojis or by sending their own Instant in return. Instagram also said the feature includes safeguards designed to discourage screenshots and recordings of shared content. Users additionally have the option to mute or block specific accounts within the feature’s settings.

Seamless Integration With Instagram’s Ecosystem

Instants will appear through a mini photo stack integrated into the bottom-right section of Instagram’s inbox interface. The company also introduced supporting tools, including a private one-year archive and recap options for Instagram Stories. An undo feature allows users to retract shared Instants before they are viewed.

Positioning In The Competitive Landscape

The launch reflects Instagram’s broader effort to expand beyond highly curated influencer-style content and strengthen more private, low-pressure interactions between users. While platforms focused on spontaneous sharing have experienced fluctuating popularity in recent years, Instagram is positioning Instants as part of a growing demand for more casual and direct communication features within social media ecosystems.

Energy security sits at the forefront of Cyprus’s presidency of the Council of the EU, with Energy Minister Michalis Damianou underscoring a resolute commitment to constructing a robust system capable of weathering external disruptions while ensuring affordability for consumers and industry alike.

Embracing A Complex Geopolitical Landscape

During an informal assembly of EU energy ministers in Nicosia, Minister Damianou highlighted Europe’s navigation through a labyrinth of geopolitical risks. With persistent instability in global energy markets and continuing conflict in the Middle East, his remarks underscored the urgency of reinforcing the energy union to combat both immediate and long-standing vulnerabilities.

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Strategic Initiatives And Coordinated Actions

Under the banner of an autonomous yet globally engaged union, the minister stressed that bolstering energy security must be harmonized with maintaining cost-effective energy supplies. The discussion extended to pivotal initiatives such as AccelerateEU, advancements in electricity storage, and the evolving role of natural gas beyond 2030. These initiatives exemplify the need for both targeted short-term measures and overarching strategic reforms aimed at a resilient energy infrastructure.

Balancing Immediate Relief With Long-Term Reforms

Minister Damianou cautioned against allowing current energy challenges and transport route disruptions to compromise Europe’s economic competitiveness. He emphasized the necessity for synchronized policy actions among member states, where short-term consumer relief measures are seamlessly integrated with comprehensive long-term structural reforms.

The Road Ahead: Renewables And Sectoral Integration

Voices from across the bloc, including European Commissioner for Energy Dan Jorgensen and Greek Environment and Energy Minister Stavros Papastavrou, echoed a unified call for accelerated transitions toward renewable energy and enhanced market integration. They pointed to robust interconnections and strategic infrastructure as essential ingredients for a stable and future-proof energy sector.

As European leaders strategize on implementing transformative initiatives, the consensus remains clear: the path to an enduring and resilient energy union hinges on proactive collaboration and decisive reform, setting the stage for a secure and competitive future.

Bold Redesign Of Larnaca’s Waterfront

EKO Cyprus Ltd has moved forward with plans to redevelop the former refinery area in Larnaca, with the project entering the final stage of environmental licensing. The proposal is currently under review by the Department of Environment, while the public consultation process will remain open until June 10.

Comprehensive Mixed-Use Development

The proposed Master Plan envisions the creation of a modern, dynamic urban hub composed of five distinct yet interlinked developments. The masterfully layered plan includes:

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• A 7-story hotel with 150 rooms spanning approximately 10,155 m²;
• A 1,200 m² MICE facility designed to boost the professional tourism sector;
• An upscale residential development offering 313 apartments over 31,300 m²;
• A combined commercial and office complex providing 9,500 m² of retail space and 10,300 m² of office area.

This bold initiative places a strong emphasis on environmental sustainability by integrating extensive green spaces and recreational areas accessible to the public, substantially enhancing an area that has long been synonymous with industrial activity.

Integrated Infrastructure And Intelligent Design

Key infrastructural elements include a shared underground level for the hotel and conference center, accommodating parking and waste management facilities. The ground floor offers 51 parking spaces (including 9 dedicated to the disabled), while the basement provides 186 spaces (4 for the disabled). Similarly, the residential building is designed with an underground level hosting 325 spaces (22 for accessibility), and the commercial and office segments will collectively feature over 329 dedicated parking spots. In all, the project efficiently provides 891 parking spaces, including 63 for the disabled.

Environmental And Socioeconomic Benefits

According to the Environmental Impact Assessment conducted by YNB Consulting Limited, the removal of the former refinery installations has already significantly reduced pollution risks. The planned development is poised to deliver multifaceted benefits by:

• Enhancing urban aesthetics with modern hospitality, leisure, and commercial facilities;
• Generating a multitude of new job opportunities that spur economic growth;
• Serving as a catalyst for further urban projects in the region;
• Driving local tourism through the hotel and conference center, with a wider impact on the national tourism market;
• Boosting quality of life through public green spaces designed for recreation and community events.

In addition, the project will address potential traffic challenges by proposing strategic improvements, such as upgrading junctions, installing pedestrian crossings with photo controls, and promoting alternative transit options like cycling and public transport.

A Vision For The Broader Urban Landscape

The redevelopment plan also includes a seafront promenade and linear park intended to connect multiple areas of Larnaca’s coastline, including Oroklini, the marina area and the city centre. According to the proposal, the waterfront area is intended to function as a public space for walking, recreation and public events while supporting broader urban regeneration efforts across the district.

Public Engagement And Future Prospects

EKO Cyprus Ltd has already held public presentations, capturing local insights and fostering a collaborative planning process. The broader project, part of the “Development Plan for the Former Refineries Area,” has redefined the zone as a Special Urban Development Area (ZEADA) since 2020. This milestone opens the door to similar forward-thinking urban projects that promise to transform Larnaca’s industrial past into a vibrant urban future.

Regional Innovation Recognized

Deloitte has unveiled the fifth edition of its Middle East and Cyprus Technology Fast 50, a rigorous ranking that celebrates the fastest-growing technology startups across the region. The initiative, driven by the vision of regional founders and backed by significant revenue growth over the last four years, underscores the evolving innovation landscape amidst global uncertainty.

Comprehensive Methodology And Diverse Categories

This acclaimed programme not only assesses companies on their revenue performance but also serves as a broader platform for acknowledging growth, resilience, and ambition. The current edition categorizes firms into five distinct segments, highlighting the spectrum of the region’s technology sector. Alongside the main ranking, Deloitte recognizes Rising Stars for promising startups, Impact for companies integrating ESG principles, Women In Leadership for female-led enterprises, and Kiyadat for established businesses led predominantly by teams from GCC countries.

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Market Leadership And Regional Milestones

This year’s report marks several milestones. Notably, the top five Fast 50 companies include three from the United Arab Emirates and two from Saudi Arabia, emphasizing the dominance of these markets. Similarly, the Rising Stars top ten are exclusively based in the UAE and Saudi Arabia, demonstrating robust startup ecosystems in these countries. Meanwhile, Cyprus maintains a strong presence, contributing 14% of the ranked companies, largely in the software and fintech sectors, along with commendable performances in the Rising Stars and Women In Leadership categories.

Insights From Industry Leaders

Mutasem Dajani, CEO of Deloitte Middle East, observed, “The fifth edition is more than just a snapshot of growth—it is a recognition of the stories that drive that growth. Founders in the region are building resilient, purpose-driven businesses that compete on the international stage.” These sentiments reflect the broader narrative of an innovation hub that continuously reinvents itself, both in scope and scale.

Global Perspective And Future Outlook

Beyond the rankings, Deloitte’s detailed report illuminates regional trends that are vital for investors, policymakers, and industry stakeholders. Projects gaining traction in this programme are also set to be recognized on a larger scale at the EMEA Technology Fast 500, further elevating their international profiles.

Celebrating A Half-Decade Of Excellence

Kyriakos Charalambides, Partner and Head of the Fast 50 DME programme, remarked, “This edition marks half a decade of acknowledging the dynamism and entrepreneurial spirit thriving across the region. With an expanding pool of applications and enhanced regional representation, the programme continues to set a benchmark for innovation and excellence.”

In conclusion, Deloitte’s fifth edition offers a compelling narrative of growth and diversification in the Middle East and Cyprus technology sectors, signaling robust opportunities in an ever-evolving global market.

Robust Economic Performance Amid Uncertainty

Cyprus recorded annual GDP growth of 3% during the first quarter of 2026, continuing to outperform broader European growth rates despite ongoing global economic uncertainty. Nikos Christodoulides described the result as the strongest growth performance within the European Union.

Driving Sectors And Service Excellence

Economic growth was primarily supported by wholesale and retail trade, information and communication, as well as financial and insurance activities. The performance further reinforced Cyprus’s position as a services-driven economy, particularly as growth across Europe continued to slow. During the same period, GDP growth reached 0.8% in the euro area and 1.0% across the wider EU.

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Quarterly Trends And Market Implications

Quarter-on-quarter growth in Cyprus stood at 0.2%, matching the broader EU average. The result followed a stronger growth of 4.3% recorded during the previous quarter, reflecting a moderation in momentum rather than a reversal in the broader economic trend. Across Europe, growth also weakened compared with earlier periods, with euro area GDP growth slowing from 1.3% to 0.8% and EU growth easing from 1.4% to 1.0%.

A Vote Of Confidence From International Markets

President Christodoulides said the latest GDP figures add to more than 30 positive assessments issued by international credit rating agencies and financial institutions in recent years. According to the president, the evaluations reflect confidence in Cyprus’s fiscal policy, economic management and financial stability. The government also views the latest performance as an important signal supporting the country’s international credibility and investment profile.

Strategic Investments In Social Infrastructure

The government said continued economic growth has created additional fiscal space for investment in sectors including healthcare, education, housing and social welfare. Officials added that economic policy remains focused on combining fiscal stability with broader social and development priorities. The latest GDP figures reinforced Cyprus’ position among the fastest-growing economies in Europe at a time of continued geopolitical and economic uncertainty.

Financial Performance Overview

The Cyprus Development Bank Group reported total net income of €17.2 million for 2025, a 25% decline compared with €22.8 million in 2024. The earnings drop was largely attributed to a significant decrease in net interest income driven by lower interest rates and a slight contraction in interest-earning assets.

Declines In Interest Income And Expense

Net interest income fell 28% year-on-year to €13.8 million from €19.1 million, as interest income declined 31% to €17.5 million. At the same time, interest expenses decreased 39% to €3.8 million, largely driven by lower deposit-related costs, while interest paid on client deposits dropped 34%. Expenses linked to loan capital also declined following the non-payment of the perpetual unsecured subordinated note.

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Asset Quality And Revenue Mix

The bank’s net interest margin narrowed to 2.54% from 3.44%, while average interest-earning assets decreased 1.3% to €548 million. Non-interest income also declined 6% to €3.5 million, although operating expenses were reduced by 5%, mainly due to lower staffing costs. Staff expenses fell 10% following the absence of one-off costs recorded in the previous year, despite salary increases and a slight reduction in headcount.

Balance Sheet And Liquidity Strength

Total assets decreased 3% to €602 million, primarily reflecting lower loans and advances. Despite the decline, the group maintained strong liquidity levels, with the liquidity coverage ratio standing at 296%, significantly above the regulatory minimum requirement of 100%, although lower than the 348% recorded in 2024. Meanwhile, the net stable funding ratio remained at 236%, while liquid assets increased slightly to €407 million, representing 68% of total assets.

Loan Portfolio And Risk Management

Gross loans and advances declined 11% to €190 million as customer repayments continued exceeding new lending activity. New lending fell 60% to €13.5 million, while performing loans declined 10% to €158 million. The group also reported improvements in non-performing exposure metrics, with the NPE ratio decreasing from 17.7% to 16.9%, while net NPEs declined to €17.9 million and the NPE coverage ratio increased to 44.1%.

Capital Adequacy And Regulatory Compliance

The bank maintained a CET1 ratio of 21.93% and an overall capital adequacy ratio of 27.12%, both remaining comfortably above regulatory requirements. CET1 capital declined 3.58% to €45.6 million, partly due to supervisory adjustments related to legacy non-performing exposures and real estate assets, although the impact was partially offset by lower risk-weighted assets following updated regulatory rules.

Outlook And Strategic Priorities

The group confirmed that its financial statements continue to be prepared on a going concern basis, supported by strong liquidity and capital buffers. Management also pointed to the agreement signed in March with Bank of Cyprus regarding the sale of substantially all performing loans and deposits.

According to the bank, capital and liquidity requirements are expected to remain compliant through 2028, while no dividend will be paid for 2025 as the group continues focusing on strengthening balance sheet resilience, improving asset quality, diversifying income streams and reducing non-performing exposures.