Geely Auto will enter the Cyprus passenger car market in 2026 through a new importer and distribution partnership with KKS Mobility Ltd. The Chinese automaker signed a strategic agreement with KKS Mobility, led by automotive executive Charalambos Pilakoutas, which will represent Geely as its importer and distributor in Cyprus.

The agreement was signed in Amsterdam on Sept. 3 by Aiden He, chief executive of Geely Brand Europe and vice president of strategy and product at Geely Auto Europe, and Pilakoutas, chief executive of KKS Mobility.

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Geely Plans Three Electrified Models

The Cyprus launch is part of Geely’s broader expansion across Southern Europe, using local partnerships to establish retail, service and aftersales operations.

“Entering Cyprus represents an important step in growing Geely’s footprint across Southern Europe,” He said. He added that the partnership would combine Geely’s engineering capabilities with electric and hybrid vehicles for local customers.

Three electrified models are planned for the initial launch: the fully electric Geely E5, the fully electric Geely E2 and the Starray EM-i plug-in hybrid.

KKS Mobility Brings Local Automotive Experience

The partnership combines Geely’s vehicle technology and product strategy with KKS Mobility’s experience in the Cyprus automotive market, including retail and aftersales operations.

“Today marks a significant milestone for KKS Mobility Ltd,” Pilakoutas said. “We are honoured to partner with Geely Auto and bring one of the world’s most innovative automotive brands to Cyprus.”

Pilakoutas said the company expects Geely to become a strong and trusted brand in Cyprus, citing its technology, safety, design and value proposition.

Geely Expands Its Global Footprint

Headquartered in Hangzhou, China, Geely Auto Group develops and manufactures passenger vehicles under the Geely, Lynk & Co and Zeekr brands and is part of Zhejiang Geely Holding Group.

Geely said its operations span more than 100 countries, with research and development and manufacturing facilities in China, Europe and other international markets. Its technology portfolio includes hybrid powertrains, battery-electric platforms, connectivity and autonomous driving systems.

The group sold 3,024,567 vehicles in 2025, up 39% from the previous year and above its full-year target. New energy vehicle sales reached 1,687,767 units, an increase of 90% from 2024.

Electrification Drives Geely’s Expansion

Geely’s international strategy is increasingly focused on electrified vehicles, supported by investments in battery-electric and hybrid technologies and local partnerships.

For Cyprus, KKS Mobility will provide the retail and aftersales infrastructure needed to support the new brand. The company has decades of experience in the local automotive sector and has represented international vehicle brands in Cyprus.

Cyprus is under pressure to revise its legislation on the minimum tax for multinational groups after the European Commission called for changes to align the framework with Pillar 2 rules.

Policymakers face a difficult balance. Failure to comply could expose the Republic to penalties and broader regulatory consequences, while stricter rules could encourage some US-linked multinationals to relocate to jurisdictions exempt from the 15% minimum tax until 2029.

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Cyprus Adopted Its Framework In 2024

Cyprus approved its domestic top-up tax framework in December 2024, with the system scheduled to take effect in 2025. Under the law, multinational groups operating in Cyprus with an effective tax rate below 15% would pay the difference through a supplementary levy.

The framework was intended to give affected companies time to adapt while reducing incentives to relocate to more tax-favorable jurisdictions.

Brussels Calls For A QDMTT

The European Commission challenged the original framework, arguing that it disproportionately benefited parent companies of multinational groups with US interests. Brussels has called for a Qualified Domestic Minimum Top-up Tax (QDMTT) to ensure that minimum tax is collected domestically under the Pillar 2 framework.

A revised bill has been under public consultation since late July. It proposes introducing the QDMTT from Jan. 1, 2026, alongside amendments reflecting OECD guidance and recommendations.

Cyprus is scheduled for an assessment in autumn 2026, when its legal framework will be reviewed for compliance with internationally agreed Pillar 2 standards.

Businesses Warn Of Relocation Risk

The consultation deadline was extended from Sept. 5 to Sept. 7 because of the complexity of the issue. A recent meeting at the Finance Ministry brought together officials and professional bodies to discuss the proposed changes.

Some professional associations have warned that higher tax costs could prompt US multinationals to consider relocating to Malta, Estonia, Latvia or Lithuania. Those countries secured an exemption in 2023 that allows them to delay Pillar 2 implementation until 2029 because they had fewer than 12 subsidiaries of multinational groups above the €750 million threshold.

Professional groups reportedly told the ministry that US companies make a significant contribution to Cyprus’ public finances, paying about €140 million in taxes.

Ministry Sees Limited Room For Changes

Finance Ministry technocrats reportedly told stakeholders that there is little scope for further changes because of the European Commission’s firm position on the QDMTT.

Officials also warned that non-compliance could place Cyprus in a difficult position. The ministry aims to secure Cabinet approval as soon as possible and have Parliament pass the bill in October.

The issue is also being viewed against wider tensions between the US and European Union over international taxation, leaving Cyprus to balance regulatory compliance with its position as a destination for multinational groups.

Questions Remain Over The Original Rules

Private sources have raised concerns about the initial handling of the legislation, including the lack of clear data on the number of companies expected to be affected.

Parliament was initially told that 60 companies would be subject to the tax, but that figure later rose to 1,900. The ministry had estimated that the affected companies could generate between €200 million and €250 million in tax revenue for Cyprus. It is also understood that the draft legislation was amended in 2024 without notifying affected stakeholders, while EU authorities later informed Cyprus about the need for a qualified domestic tax.

Cyprus now faces a narrow path forward: comply with Brussels’ requirements while maintaining investor confidence and limiting the risk that mobile capital moves to jurisdictions offering more favorable tax treatment.

Cyprus recorded one of the EU’s largest monthly increases in industrial producer prices in July 2026, as energy costs pushed prices higher across the bloc. Industrial producer prices in Cyprus rose 2.3% from June, giving the country the fourth-largest monthly increase among EU member states, according to first estimates from Eurostat.

Cyprus Ranks Near The Top In Monthly Gains

Ireland recorded the strongest monthly increase at 4.3%, followed by Spain and Italy at 3% each. Cyprus ranked fourth with its 2.3% rise. By contrast, industrial producer prices fell most sharply in Estonia, down 3.3%, followed by Finland at 1.6% and Sweden at 1.1%.

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Energy Drives Higher Producer Prices

Across the euro area, industrial producer prices increased 1.6% month on month in July, while the EU recorded a 1.4% rise. Energy was the main driver, with prices increasing 5.6% in the euro area and 4.7% across the EU.

Euro area capital goods prices rose 0.3%, while intermediate and durable consumer goods were unchanged. Non-durable consumer goods declined 0.1%, leaving industrial producer prices flat when energy was excluded.

EU data showed a similar pattern. Intermediate goods rose 0.1%, capital goods increased 0.3%, and durable consumer goods gained 0.2%, while non-durable consumer goods fell 0.2%. Excluding energy, industrial producer prices increased 0.1%.

Annual Producer Price Growth Remains High

Industrial producer prices in the euro area were 5.8% higher in July than a year earlier, while the EU recorded a 5.6% increase. Energy remained the largest contributor to annual growth, rising 12.9% in the euro area and 12.5% across the EU. Euro area intermediate goods increased 6.3%, capital goods 2.6% and durable consumer goods 2.9%, while non-durable consumer goods fell 0.7%.

Across the EU, intermediate goods rose 6%, capital goods increased 2.4%, and durable consumer goods gained 2.8%. Non-durable consumer goods declined 0.9%, while industry excluding energy increased 3%.

Ireland Leads Annual Increases

Ireland posted the largest annual increase in industrial producer prices at 14.8%, followed by Lithuania at 12.9% and Bulgaria at 12.5%. Luxembourg was the only EU member state to record an annual decline, with industrial producer prices falling 7.3%.

The July figures show that industrial price pressures remain uneven across Europe, with energy costs continuing to play the largest role in the broader increase.

The European Banking Authority (EBA) has proposed new rules for determining when large investment firms should be reclassified as credit institutions, with Cyprus’ regulator urging firms to review the changes.

Launched on Aug. 25, the EBA consultation covers draft regulatory technical standards (RTS) designed to make the assessment more proportionate, transparent and linked to the risks posed by individual firms and groups.

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The €30 Billion Threshold

Under Article 8a of the Capital Requirements Directive (CRD), investment firms with total assets above €30 billion are generally expected to seek authorisation as credit institutions rather than operate solely under a MiFID investment firm licence.

Proposed RTS would establish how the threshold is calculated at individual and group level, what firms must report to supervisors and which factors authorities should consider when assessing waiver requests.

Changes to Article 8a prompted the consultation as part of a broader EU effort to align prudential requirements with the size and risk profile of large investment groups.

New Method Would Narrow The Calculation

According to the EBA, amendments to Article 8a have narrowed the scope of the group-level calculation. Under the proposed methodology, only assets held by EU undertakings and their subsidiaries conducting MiFID activities 3 and 6, along with EU branches of third-country entities within the same group, would be included.

Compared with the previous global approach, the new methodology would simplify calculations and reduce the reporting burden for affected firms.

Investment firms with total assets above €5 billion would fall within the reporting requirements. Those firms would submit two reporting templates each quarter, with monthly figures derived through simple interpolation.

Regulators Would Assess More Than Asset Size

Waiver requests would be assessed using several factors beyond a firm’s balance sheet. Authorities would consider organizational structure, booking practices and asset allocation across entities, as well as the business model and share of transactions conducted for clients.

Other factors would include tools for measuring systemic risk, the size and complexity of derivatives portfolios and the firm’s broader market footprint. Decisions would therefore consider both the scale of a group and how its activities could affect financial-system risk.

CySEC Urges Cyprus Firms To Review The Rules

Cyprus’ Securities and Exchange Commission (CySEC) has urged local investment firms to examine the consultation paper and draft RTS, particularly their potential effects on business models, group structures and prudential reporting systems.

Firms are also encouraged to submit feedback before the rules are finalized. Comments are due by Nov. 25, 2026. A virtual EBA public hearing is scheduled for Sept. 30 at 10 am CEST, with registration open until Sept. 25.

Rules Could Affect Large Investment Groups

For firms approaching the €30 billion threshold, the proposed methodology could affect governance, capital planning and group structures. It also reflects closer EU supervision of investment firms whose scale and activities may create risks similar to those associated with banks.

Three areas are covered by the EBA’s work at the request of EU legislators: calculating CRD thresholds, collecting information for ongoing supervision and defining criteria for regulatory waivers.

Firms with complex group structures or rapidly growing asset bases will need to assess how the proposed framework applies to their operations before the standards are finalized.

Cyprus’ annual inflation rate rose to 5.2% in August, widening its gap with the eurozone and extending a sharp increase in price growth since the spring.

Eurostat data showed inflation in Cyprus has exceeded the eurozone average for a fourth consecutive month. Eurozone inflation stood at 3.3% in August, putting the gap at 1.9 percentage points.

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Inflation Has Accelerated Since March

Cyprus recorded annual inflation of 0.0% a year ago, before the rate began rising this year. Inflation reached 1.5% in March, followed by 3.0% in April, 3.5% in May, 4.1% in June, 4.4% in July and 5.2% in August.

That represents an increase of 3.7 percentage points in five months. The acceleration has put Cyprus among the euro area economies experiencing the fastest price growth.

Cyprus Ranks Among The Euro Area’s Highest

At 5.2%, Cyprus had the second-highest inflation rate in the euro area in August, behind Lithuania at 5.8%. Bulgaria followed at 5.1%. Inflation was considerably lower in Germany at 2.9% and France at 2.7%. Italy recorded 3.2%, Greece 3.7% and Spain 4.5%.

The widening difference from the eurozone average indicates that price pressures in Cyprus are persisting even as inflation remains lower elsewhere in the bloc.

Government Measures Have Limited The Pressure

Finance Minister Makis Keravnos has said inflation is expected to remain elevated through the end of the year, at around 4%, while the government continues measures aimed at containing prices.

Several measures remain in effect. The reduced excise duty on fuel is currently scheduled to run through the end of September 2026, while a 5% VAT rate on electricity for all household consumers remains in place until March 31, 2027.

A zero VAT rate on meat, poultry and fish has also applied since April 1 and is scheduled to remain until Sept. 30, 2026. Some measures could be extended, including the fuel tax reduction.

Higher Prices Put Pressure On Households

A 5.2% inflation rate does not mean every product has become 5.2% more expensive. The impact depends on how individual household budgets are distributed and which categories are experiencing the fastest price increases.

Lower- and middle-income households can face greater pressure when essential goods and services rise faster than wages. Unless incomes keep pace with inflation, purchasing power declines and households can afford fewer goods and services with the same income.

Persistent price growth can also weigh on consumption and household confidence. For Cyprus, the latest figures indicate that inflation remains a broader economic issue rather than a short-lived increase.

Inflation Remains A Policy Challenge

With Cyprus’ inflation rate still well above the eurozone average, pressure on households is likely to continue if the divergence persists.

Government measures are providing some relief, but the latest data show they have not reversed the broader increase in prices. Finance Ministry forecasts currently point to inflation remaining around 4% through the end of 2026.

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.