In 2023, Europe exported $502 billion worth of goods to the US, with projections indicating this will grow to nearly $606 billion in 2024. However, if Donald Trump’s tariff threats are realized, European exports could face substantial challenges. The biggest risks will affect the healthcare, industrials, and consumer staples sectors, which are expected to contribute over half of the Stoxx Europe 600’s earnings growth this year.

Pharmaceuticals And Automakers Face Major Risks

Pharmaceutical companies are particularly exposed. For instance, Novo Nordisk generates 58% of its revenue from the US, while Sanofi generates almost 50%. The automotive and semiconductor industries will also be heavily impacted. Automakers, who account for 10% of European exports to the US, could suffer from the new 25% tariffs on imports from Mexico and Canada, scheduled to take effect on March 6. Companies like Stellantis, Volkswagen, BMW, and Mercedes-Benz could face a €6 billion ($6.3 billion) hit in operating profits. Volkswagen, for example, relies on Mexico for 65% of its US-bound cars, potentially forcing the company to either ramp up US production or exit the market entirely.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Industrial Sector At A Disadvantage

The industrial sector is also at risk, especially for companies relying on global supply chains. Further tariffs on machinery and equipment could add to the challenges facing European exporters. A 10% to 20% tariff on pharmaceuticals, cars, machinery, and alcoholic beverages could reduce sales by 1.1% to 2.1% and operating profits by 3.3% to 6.6%, according to Bloomberg Intelligence.

Premium Carmakers Could Weather The Storm

Some premium carmakers, like BMW and Mercedes-Benz, may be better positioned to absorb the additional costs, as their customer base tends to accept price increases. However, many sectors will still face significant strain.

A History Of Negotiations With Trump’s Administration

Europe’s experience with Trump’s trade policies is not new. In 2018, the EU avoided new tariffs through negotiations that included commitments to import more US liquefied natural gas. This experience has helped large industrial companies localize their supply chains to better withstand future challenges. But, with the potential for tariffs in 2025, the outlook remains uncertain. According to Goldman Sachs, S&P 500 companies could see a 2% to 3% drop in earnings per share if tariffs are imposed. This would either reduce profit margins or lead to declining sales as companies pass on the costs to customers.

The Ministry of Health has formed a significant alliance with the University of Cyprus and the Centre of Excellence for Research and Innovation ‘KOIOS’ to create the ‘BIOCARE’ platform—a digital solution aimed at transforming antibiotic usage and infection monitoring in the country’s hospitals.

This collaboration is a cornerstone of the broader strategy to strengthen public health systems. At the heart of this initiative is the BIOCARE platform, designed to efficiently gather, analyze, and utilize data in real-time, providing crucial insights into antibiotic consumption and hospital-acquired infections.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

The Ministry of Health highlighted that antimicrobial resistance and infections contracted in hospitals present ongoing global challenges. These issues not only complicate infection treatments but also prolong patient hospital stays, adding pressure to healthcare systems worldwide.

BIOCARE aims to tackle these concerns head-on by harnessing the power of advanced artificial intelligence and data analytics. The platform will oversee antibiotic use, track antimicrobial resistance, and implement cutting-edge strategies to reduce infections acquired during hospital stays.

By enabling early detection of emerging trends, BIOCARE will empower health authorities to make more informed decisions, optimize antibiotic stewardship, and bolster infection prevention efforts in hospitals across the nation. This step represents a pivotal moment in building a dynamic, forward-thinking surveillance system that promotes responsible antibiotic use, curbs hospital-acquired infections, and strengthens the country’s healthcare infrastructure.

President Nikos Christodoulides has announced a €122 million investment across 30 projects aimed at revitalizing the free areas of Famagusta. Speaking at a regional gathering in Paralimni on 13 February, he outlined the government’s vision to enhance infrastructure, boost tourism, and improve the overall quality of life for residents.

Joined by members of the Council of Ministers and state officials, the President emphasized Famagusta’s vital role in Cyprus’ economy, particularly in tourism and the primary sector. The projects include major road network upgrades, the development of urban and linear parks, and enhancements to tourism infrastructure.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Key initiatives also focus on modernizing sports centers and expediting critical projects like the completion of the Fishing Shelter at Liopetri River. The comprehensive plan spans multiple sectors, including urban regeneration, business and tourism, education, and social welfare.

Calling for close cooperation between local authorities and stakeholders, Christodoulides urged collective efforts to fast-track these development initiatives and unlock the district’s full potential.

Planned projects

Road Network Improvement and Urban Regeneration Projects

1. Improvement of the Main Road in Avgorou on Karyon Avenue – €9 million
2. Construction of a Multi-Storey Parking Lot in Paralimni – €8 million
3. Improvement and Upgrading of Ayia Napa’s Beachfront – €3.6 million
4. Road Improvement Connecting Vrysoudion Street with Pinia Street – €4 million
5. Construction of a Road from the Agios Panteleimonas Roundabout to the Church of Agia Varvara – €5 million
6. Regulatory Plans for the 2nd Phase of the Improvements of Stadias Street, Giakoumi Papadopoulos Street, and Korai Street in Paralimni – €14 million
7. 4th Phase of the Protaras Coastal Promenade – €18 million
8. Redevelopment of the Traditional Core of Frenaros – €1.3 million
9. Redevelopment of Paralimni Square – €11.2 million
10. Creation of an Urban Multifunctional Park in Ayia Napa – €5 million
11. Creation of a Linear Park in Aheritou – €1 million

Economy / Business / Tourism

1. Incentive Plan in Catering – €700 thousand
2. Plan for Enrichment Projects for Local Government Authorities – €300 thousand
3. Creation of a Craft Area in Dasaki Achna – €250 thousand

Education

1. Upgrading of Building Infrastructure of Paralimni High School – €5.5 million
2. Construction of a New Paralimni High School – €15 million
3. Operation of the School of Tourism Studies within the Framework of the MIEEK

Social Welfare

1. Model Autism Center of Famagusta District – €4 million
2. Expansion and Upgrading of the Nursery and Children’s Activity Center in Avgorou
3. Additional Projects in the Region’s SKE – €140 thousand
4. Intensive Daily Addiction Treatment Program – €1.5 million

Culture

1. Transformation of the Ayia Napa Monastery into a Museum and Creation of a Research Center, Library, and Conference Rooms – €2.3 million
2. Cultural and Conference Center Hall in the Municipality of Deryneia – €5 million
3. Open-air Amphitheater in Avgorou – €1.5 million

Sport

1. Upgrade: Sotiras Sports Center, Frenaros Sports Center, Liopetri Sports Center – €2 million
2. Construction of a Public Sports Area in Achna – €2 million

Limassol is making its final push to secure the prestigious title of European Capital of Culture 2030, with city officials and organizers finalizing their proposal for submission to a panel of experts by the end of February.

The bid, which underscores Limassol’s dedication to cultural innovation and inclusivity, aims to position the city as a leading cultural hub on the European stage. The organizers emphasized that the proposal represents a bold vision to elevate Limassol’s artistic and cultural profile. In December, the submission of the bid dossier marked a key milestone in the city’s journey towards this ambitious goal.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

The crucial presentation is scheduled for February 26, where all candidate cities will lay out their cultural visions and strategic plans. The following day, February 27, the Ministry of Culture will announce which cities advance to the final selection phase. Established in November 2022, Organisation Lemesos 2030 operates as an independent body under the Limassol Municipality, leading the charge in securing the title and, if successful, implementing the long-term cultural strategy through 2030.

The initiative seeks to redefine and reinvigorate Limassol’s cultural identity while tackling pressing urban challenges shared by many European cities. Through extensive public engagement, including surveys and data collection, the organization has been mapping the city’s artistic landscape—assessing the needs of cultural institutions, creative groups, and individual artists. These insights are shaping the bid book, which will lay the groundwork for a sustainable cultural strategy that extends beyond the competition.

To ensure a comprehensive understanding of Limassol’s cultural ecosystem, the initiative has launched two surveys: one targeting registered associations, organizations, and informal groups, and another designed for individual artists. Those involved in both institutional and independent artistic activities are encouraged to complete both questionnaires, enabling a more detailed and inclusive cultural mapping of the city.

As Limassol’s bid enters its final phase, the city stands on the brink of a transformative cultural journey—one that could redefine its role as a European cultural powerhouse for years to come.

Forbes Middle East has unveiled its much-anticipated 2025 ranking of the region’s top businesswomen, spotlighting influential leaders reshaping industries and driving meaningful transformation. The list was based on business size, individual accomplishments, leadership impact, and corporate social responsibility initiatives.

Top Spot For Hana Al Rostamani

For the third consecutive year, Hana Al Rostamani, Group CEO of First Abu Dhabi Bank (UAE’s largest bank by assets), claims the top position. In addition to retaining her position in the Forbes Middle East ranking, she was also featured on Forbes’ 2024 list of the World’s Most Powerful Women, securing the 60th position globally. Under her leadership, the bank achieved an impressive $3.5 billion in net profits and $334.8 billion in assets in the first nine months of 2024.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Rising Stars In The Top 10

Shaikha Khaled Al Bahar of NBK Group and Shaista Asif, cofounder and Group CEO of PureHealth Holding, take the second and third spots respectively, completing the top three.

The top 10 remains largely unchanged from last year, with Tayba Al Hashemi of ADNOC Offshore, Alisha Moopen of Aster DM Healthcare GCC, and Suzanne Al Anani of Dubai Aviation Engineering Projects (DAEP) making their debut in the top 10. In total, 27 new leaders have joined the list this year.

A Diverse And Powerful Group Of Women

This year’s list features 100 women from 32 sectors and 29 nationalities, underlining the diversity of talent driving the region’s progress. The banking and financial services sector leads with 25 entries, followed by healthcare and technology with nine each, and venture capital with five. Remarkably, 40% of the top 10 women are from the banking and financial services sector. Notably, Shaista Asif (PureHealth Holding) and Alisha Moopen (Aster DM Healthcare GCC) are the only non-Arab women in the top 10.

UAE Leads With 46 Leaders

The UAE continues to dominate, with 46 of the women on the list hailing from the country, solidifying its status as a global business hub. Egypt follows with 18 influential women, and Saudi Arabia claims nine entries. Egyptians lead in representation, followed by Emiratis and Lebanese women.

Empowering Women Through Initiatives

Several of the leaders have focused on upskilling and creating opportunities for women. Susana Rodriguez Puerta launched the ‘sAIdaty’ initiative in collaboration with the Dubai Business Women Council, aimed at providing 500 female council members in the UAE with AI skills. Similarly, Lamia Tazi of SOTHEMA collaborated with the Foundation for Research, Development, and Innovation in Science and Engineering to provide scholarships to PhD students from low-income backgrounds.

Click here for the full list.

The UAE has officially launched the first phase of its Blue Visa system, granting 10-year residency permits to individuals who have made outstanding contributions to environmental protection and sustainability. The announcement was made during the World Governments Summit (WGS) 2025 in Dubai on February 11–13.

Aimed At Sustainability Advocates

The Blue Visa targets environmental champions, including NGOs, international organizations, award winners, and activists who have significantly contributed to sustainability. The first recipients of the visa will include 20 thought leaders and innovators in the field of sustainability, as confirmed by the UAE Ministry of Climate Change and Environment and the Federal Authority for Identity, Citizenship, Customs, and Ports Security (ICP).

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

How To Apply For The Blue Visa

This new visa offers 10-year residency to individuals who have demonstrated exceptional dedication to environmental causes. Eligible applicants include members of international organizations, global award winners, and environmental researchers or activists. Applicants can apply directly to the ICP or be nominated by the appropriate authorities in the UAE.

The Blue Visa will be granted electronically, with applications submitted through government agencies working in the sustainability sector, following the ICP’s approved procedures. The system, activated during the first phase, is an extension of the Golden and Green Residency programs.

Strengthening UAE’s Global Sustainability Role

Dr. Amna Bint Abdullah Al Dahak, UAE’s Minister of Climate Change and Environment, emphasized the country’s commitment to becoming a global sustainability leader. She noted that the Blue Visa initiative aligns with the UAE’s vision of attracting innovators and environmental leaders to achieve ambitious national sustainability goals.

Continuous Access To Blue Visa Services

Major General Suhail Saeed Al Khaili, ICP’s director-general, announced that eligible individuals will have 24/7 access to the Blue Visa service through the ICP’s website and mobile app, subject to the established terms and conditions.

This initiative marks another significant step in the UAE’s sustainability journey, continuing its efforts to build a more sustainable future for its citizens and the world.

Japanese automakers Honda and Nissan have officially ended talks regarding a potential merger, according to a joint statement from both companies. While their merger discussions have come to a halt, the companies have left open the possibility for future collaboration, particularly in the field of smart and electric vehicles.

Key Details Of The Termination

The proposed merger would have formed the world’s third-largest car manufacturer with a market value exceeding $60 billion. However, the talks were abandoned after Honda’s desire to make Nissan a subsidiary clashed with the initial plan of creating an equal partnership. This divergence in strategy led to the breakdown of discussions.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Nissan’s official statement explained that both companies concluded it would be best to terminate the discussions to focus on speedy decision-making in the increasingly volatile market, especially with the ongoing shift toward electrification. Instead of merging, the companies agreed to pursue a strategic partnership going forward.

The Background Of The Merger Proposal

The potential merger, first reported by Nikkei in December 2024, aimed to combine Honda, Japan’s second-largest carmaker, with Nissan, the third-largest. This deal was seen as a necessary step to challenge growing competition from Chinese automakers like BYD. The merger discussions were expected to conclude by June 2025, but delays and disagreements over key issues, including the distribution of control, ultimately led to their termination.

The two companies initially set a decision deadline for the end of January, but it was pushed to mid-February before the talks ended.

Nissan’s Financial Struggles

Nissan has been facing significant challenges, particularly in the shift to electric vehicles. The company is still recovering from a crisis sparked by Carlos Ghosn’s arrest in 2018, which led to a leadership vacuum and financial instability. As part of its recovery strategy, Nissan plans to cut 9,000 jobs and reduce its production capacity by 20%.

Analysts were skeptical about the merger from the start, speculating that Nissan’s financial difficulties may have pushed it to seek outside help.

A Stark Disparity: Market Capitalization

An important factor in the merger talks was the significant disparity between the two companies’ market capitalizations. Honda’s market value is approximately five times larger than Nissan’s, standing at 7.92 trillion yen ($51.90 billion) compared to Nissan’s 1.44 trillion yen.

Greece is grappling with a severe housing crisis caused by a sharp decline in construction activity and reduced household purchasing power. What was once a typical housing market is now facing a significant shortage of new properties, exacerbating the affordability gap for many Greeks.

The Decline In New Construction

From 2001 to 2011, Greece built an average of 52,000 new homes per year, with 31,000 of them in Attica. But from 2011 to 2021, this dropped to just 26,000 homes annually, with a mere 4,500 in Attica. The housing supply has fallen by as much as 85%-90% compared to the pre-crisis period. Though construction activity has revived in recent years, it is still far from meeting demand.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

The Paradox Of Vacant Homes

One of the most perplexing aspects of Greece’s housing issue is the 700,000 vacant homes across the country, according to the latest census. While this large number suggests there should be enough supply, the crisis is fueled by other factors such as rising divorces and a growing number of single-member households, driving up demand.

Mortgage Decline And Shrinking Purchasing Power

Another critical indicator of the housing crisis is the dramatic drop in mortgages. In 2023, only 14,000 new mortgages were issued, compared to 115,000 in 2007. Meanwhile, disposable income in Greece is now at just 68% of the 2010 level, making it harder for people to afford homes. This has further increased pressure on the housing market as real estate prices continue to rise.

Urban Planning And Unused Land

Urban planning policies have also played a role in limiting housing supply. Expansive areas like Mesogeia and Eleonas in Attica remain largely unexploited, while restrictions on existing properties prevent efficient use of available land. These factors prevent the market from responding to growing demand.

Limited Real Estate Availability

Banks and servicers currently hold around 15,000 residential properties, but many of these are occupied, making it difficult to release them to the market. Though efforts to speed up their availability are underway, the overall supply remains limited.

Short-Term Rentals And Their Impact

While short-term rentals contribute to the housing shortage, they are not the primary cause. The real issue is that no new homes have been built in the past 15 years, and renovation costs have risen sharply. Additionally, high taxes and unpaid rents discourage owners from offering long-term leases.

Economic Disparity: Rising Prices vs. Stagnant Incomes

From 2015 to 2024, property prices increased by 5% annually, while average per capita income grew by just 3%. This disparity, coupled with the 20% annual growth in short-term rentals, has made homeownership increasingly out of reach for many Greeks.

Conclusion: A Call For Action

The housing crisis in Greece is multifaceted: insufficient new construction, limited availability of real estate, economic stagnation, and restrictive urban planning all contribute to the problem. Urgent policy changes, including incentives for new construction and better management of vacant properties, are needed to address the growing housing demand and restore affordability.

The Cyprus Securities and Exchange Commission (CySEC) has outlined its supervisory priorities for 2025, focusing on emerging regulatory challenges and the evolving financial landscape. Key areas of attention will include artificial intelligence (AI), financial influencers (fin-fluencers), and compliance within fund management operations.

Focus On AI And Fin-fluencers

CySEC aims to adapt to the growing impact of AI on financial markets, as well as the influence of online financial promoters (fin-fluencers). With an increase in supervised entities, now at 834, the regulator is setting stricter compliance expectations for firms. Dr. George Theocharides, CySEC Chairman, emphasized that the supervisory priorities will guide regulated entities to enhance governance, and risk management, and address emerging market risks such as AI adoption and online financial promotions.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Digital Operational Resilience And MiCA

A major part of the 2025 agenda is the implementation of the Digital Operational Resilience Act (DORA) and the Markets in Crypto-Assets Regulation (MiCA). These regulations aim to strengthen investor protection and ensure market stability. Firms will be required to review their policies, revise internal governance structures, and improve risk management frameworks to comply with these new requirements.

ESG And Technology Investment

ESG compliance remains a critical priority for CySEC in 2025. Firms will need to establish robust sustainability practices and improve reporting and disclosure standards. Additionally, investment in technology will be essential to enhance ICT risk management and ensure operational resilience. CySEC plans to issue circulars and technical documentation to clarify expectations for DORA and MiCA adherence.

Stakeholder Engagement And Interim Reviews

To assist firms in meeting these expectations, CySEC will host workshops and webinars to engage directly with stakeholders. These events will provide practical guidance for compliance and foster a culture of proactive regulation. Interim reviews will also be conducted to assess firms’ progress and provide feedback for continued compliance.

Conclusion

CySEC’s 2025 supervisory agenda reflects its commitment to maintaining market integrity, safeguarding investors, and ensuring that firms can successfully navigate the evolving regulatory landscape. By focusing on AI, fin-fluencers, and sustainable growth, CySEC aims to build a more resilient and transparent financial sector in Cyprus.

The India-Greece-Cyprus Business Council (IGC) was officially launched at the prestigious Taj Mahal Palace in Mumbai, marking a significant milestone in enhancing economic relations among the three countries. This initiative follows the Memorandum of Understanding (MoU) signed in September 2024 between Eurobank and the Indian Chamber of Commerce (ICC).

Launch Ceremony And Key Attendees

The ceremony was attended by representatives from the Greek and Cypriot embassies in India, as well as prominent business leaders. Notable attendees included Mr. Abhyuday Jindal, President of the ICC and CEO of Jindal Stainless Ltd., and Mr. Fokion Karavias, CEO of Eurobank.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

New Opportunities In Trade And Investment

The IGC aims to establish a robust business platform to foster strategic cooperation in sectors such as infrastructure, shipping, technology, financial services, and small and medium-sized enterprises (SMEs). With India’s growing economic influence and Greece and Cyprus serving as key gateways to Europe, the council seeks to enhance cross-border trade, investment, and political ties.

Mr. Abhyuday Jindal emphasized the importance of this collaboration, stating:
“This partnership reflects the shared vision of India, Greece, and Cyprus for economic growth. The IGC will be a catalyst for new business opportunities, especially in infrastructure, technology, renewable energy, and shipping.”

The Role Of The Banking Sector

Eurobank’s CEO, Mr. Fokion Karavias, highlighted the importance of the banking sector in facilitating trade, noting:
“Eurobank aims to serve as a key partner for Indian businesses seeking to expand into the European Union. The IGC will be a bridge for investors looking for new opportunities.”

Sustainable Development And Future Initiatives

The IGC focuses on modern global economic priorities, including digital transformation, green investments, and the creation of resilient trade ecosystems. It will also focus on supporting SMEs and start-ups, ensuring that companies of all sizes benefit from this collaboration.

The IGC’s initial strategic actions include trade missions, business forums, and knowledge exchange platforms designed to maximize opportunities for cooperation between India, Greece, and Cyprus.