Passenger traffic between Chisinau and Larnaca nearly tripled in 2025, reflecting a sharp increase in demand for direct travel between Moldova and Cyprus.

According to figures from Moldova’s Civil Aviation Authority, 78,912 passengers travelled on the Chisinau-Larnaca route last year, compared with 26,988 in 2024. The increase of 51,924 passengers represented growth of 192.4%.

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SkyUp Extends Larnaca Service Into 2027

The strong performance comes as SkyUp Airlines prepares to continue its direct service between the two cities. Tickets are already on sale for the 2027 summer season, with flights scheduled from March 26 to October 30.

SkyUp said the route will provide direct connectivity for tourists and business travellers, as well as people visiting friends and relatives in Cyprus and Moldova.

“We are particularly pleased to resume direct flights between Larnaca and Chisinau in the summer season of 2027, offering passengers a convenient way to travel between Cyprus and Moldova,” SkyUp CEO Dmytro Sieroukhov said.

The Larnaca route is part of SkyUp’s wider summer 2027 programme from Chisinau, covering 26 destinations in 11 countries. The programme includes more than 10 new routes, among them Vienna, Milan Bergamo, Prague, Dusseldorf, Nuremberg, Paris Charles de Gaulle, Rhodes, Batumi, Pula and Split.

Route Growth Outpaces Chisinau Airport

Traffic on the Cyprus route grew significantly faster than passenger numbers at Chisinau International Airport as a whole. Airport traffic increased 46.8% in 2025 to a record 6.08 million passengers, up from 4.14 million in 2024.

SkyUp began operating scheduled services from Moldova in April 2025. During its first year, the airline said it carried more than three million passengers and operated almost 20,000 flights across its network.

The sharp rise in Chisinau-Larnaca traffic, combined with the continuation of the route into 2027, points to stronger air connectivity between Cyprus and Moldova and growing demand for direct travel between the two markets.

Cyprus’ unemployment rate fell to 3.6% in the second quarter of 2026 from 4.3% a year earlier, as employment continued to expand, according to the Cyprus Statistical Service (Cystat).

The number of employed people rose 2.9% year on year to 520,763, while the employment rate increased to 63.2% from 62.6%. The labour force also expanded 2.1% to 540,130 people.

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Women Drive Employment Growth

Female employment increased 4.4% to 246,895, lifting the female employment rate to 58.3% from 57.2%. Male employment grew 1.5% to 273,868, while the male rate edged up to 68.5% from 68.3%.

Unemployment fell 14.5% to 19,367 people. The male unemployment rate declined to 3.5% from 3.9%, while the female rate fell more sharply to 3.7% from 4.7%.

Services Remain The Main Employer

Services continued to account for the vast majority of jobs, employing 426,231 people, or 81.8% of total employment, compared with 411,204 a year earlier.

Industry employed 84,135 people, although its share fell to 16.2% from 16.6%. Agricultural employment declined to 10,397 from 11,306, reducing its share to 2%.

The concentration in services was particularly strong among women, with the sector accounting for 92.7% of female employment, compared with 72% among men.

Full-Time Employment Strengthens

Full-time employment increased 3.6% to 475,586 people, raising its share of total employment to 91.3% from 90.6%. Part-time employment fell 4.7% to 45,178, reducing its share to 8.7%. The part-time rate among women declined to 9.9% from 12%, while the male rate increased to 7.6% from 7.1%.

Employees accounted for 467,712 jobs, or 89.8% of total employment, while self-employed workers numbered 53,051. Self-employment increased 4.9% year on year.

Temporary Jobs Increase

Permanent employees numbered 394,406, accounting for 84.3% of employee jobs, down from 85.7% a year earlier.

Temporary employment rose 12.1% to 73,306, increasing its share from 14.3% to 15.7%. The increase was particularly strong among men, whose temporary employment reached 28,307.

Youth Unemployment Also Falls

The unemployment rate among people aged 15 to 24 fell to 12.2% from 14.9%, while the number of unemployed young people declined 20.6% to 3,594. Among those aged 25 to 64, unemployment fell to 15,416 from 17,505, bringing the rate down to 3.2% from 3.7%.

Employment among people aged 20 to 64 reached 493,680, with the employment rate rising to 82.8% from 81.7%. For those aged 55 to 64, the rate increased to 72.6% from 71.5%.

Long-Term Unemployment Remains Stable

Most unemployed people had been searching for work for less than six months. Their number reached 12,086, or 62.4% of total unemployment, compared with 55.9% a year earlier.

A further 3,197 people had been unemployed for six to 11 months, while long-term unemployment fell to 4,084 from 4,792. Despite the decline in numbers, long-term unemployed people still accounted for 21.1% of total unemployment.

Overall, the data show continued improvement in Cyprus’ labour market, with unemployment declining while employment and full-time work expanded.

Larnaca is moving into the final phase of a €6.2 million redevelopment of the Ayios Ioannis neighbourhood, with upgrades focused on roads, public spaces, pedestrian access and cycling infrastructure.

Mayor Andreas Vyras and members of the community council met residents on Wednesday at the Ayios Ioannis Theologos churchyard to outline the next stage of the project. Construction will require sections of the road network to be excavated, with traffic diversions introduced gradually as works progress.

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Roads, Pavements And Transport Infrastructure

Planned works include resurfacing and upgrading roads, widening pavements and restructuring parking areas. New bus lanes will also be created, while utility networks will be moved underground.

The project is designed to improve accessibility and encourage more sustainable forms of mobility, with greater emphasis on walking and cycling.

More Green Space And Heritage Features

Alongside the transport improvements, the redevelopment will add trees and expand green areas across the neighbourhood. Plans also call for the area’s historical and cultural features to be highlighted as part of the wider regeneration.

The project is being co-funded by the Republic of Cyprus and Larnaca municipality and is expected to take 24 months to complete.

Google’s latest Gemini update highlights a broader problem in consumer AI: companies are increasingly turning internal tools and capabilities into separate products that users must learn to navigate.

In its announcement of new Gemini Live voice features, Google said users should not have to determine whether a task requires Spark, Daily Brief or a simple inbox search. Yet those are precisely the distinctions the Gemini app currently asks users to make.

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Too Many Features, Too Many Names

Gemini users can switch between Chat, Spark and Daily Brief, each with its own icon and place in the app. Rather than simplifying the experience, the growing list of branded features risks making the underlying technology more visible than it needs to be.

Daily Brief illustrates the problem. Google describes it as a source of personalised, proactive updates based on information from services such as Gmail and Calendar. In practice, however, some of its suggestions can feel less like useful assistance and more like unsolicited reminders about previous searches or unfinished research.

Spark has almost the opposite problem. The feature can act as an AI agent capable of completing tasks on a user’s behalf, but packaging that capability under a separate brand forces users to understand when and where they should use it.

A simpler approach would be to let users describe what they need and allow Gemini to determine whether a standard response, an agent or another capability is appropriate.

Gemini Is Not Alone

Google’s approach reflects a wider trend across the AI industry, where companies increasingly expose the architecture of their products through separate modes and branded features.

Anthropic, for example, asks users to distinguish between Claude’s standard chat experience and Cowork. ChatGPT similarly separates Chat and Work. For consumers, these distinctions can turn what should be a simple interaction into a question about which product or mode to use.

That approach is largely driven by how AI systems are built, rather than by how people naturally think about using them.

Apple Takes A Different Approach

Apple’s strategy for Siri offers a contrasting model. Rather than requiring users to learn a new AI interface, the company is integrating AI capabilities into tools people already use, including Spotlight, Photos, the camera and voice requests.

That approach could prove more effective as AI becomes a mainstream consumer technology. Users do not necessarily need to understand which model, agent or feature is handling a request; they simply need the system to complete the task.

Text-Based AI Offers A Simpler Model

The popularity of text-based AI assistants points in the same direction. Services such as Poke, Ollie, Lindy, Orchid, Lucas, Folk, Tomo and Instinct largely reduce the interaction to a familiar interface: send a message and let the assistant determine what needs to happen next.

That simplicity removes an additional layer of decision-making. Users do not need to choose between Chat, an agent or a specialised feature before asking for help.

As a16z investment partner Justine Moore recently argued, consumers increasingly want an AI assistant to feel like a contact they can message rather than another application they must learn.

For Google and its competitors, the challenge may therefore be less about adding capabilities and more about hiding the complexity behind them. The AI that wins mainstream adoption may ultimately be the one that asks users to understand the least.

Anthropic has signed a deal to rent about $45 billion worth of AI computing capacity from British infrastructure company Nscale, according to a source familiar with the agreement.

The six-year deal, first reported by Bloomberg, will give Anthropic access to computing power based on Nvidia’s Vera Rubin systems. The capacity is expected to begin supporting Anthropic’s services in late 2027.

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Nscale Deal Adds To Anthropic’s Compute Push

Nscale was founded in 2024 and has already secured partnerships with companies including Microsoft. Under the new agreement, Anthropic will use capacity from Nscale’s flagship data centre in West Virginia.

Nvidia’s Vera Rubin platform combines six chips designed to work together and represents the company’s latest generation of AI computing technology. For Anthropic, the deal adds another major source of capacity as it expands infrastructure to support growing demand for its AI services.

Anthropic Has Signed Billions In Compute Deals

The Nscale agreement follows a series of large computing partnerships announced by Anthropic over the past eight months.

Earlier in August, the company signed a $10 billion deal with AI cloud startup Volta for six years of computing capacity from a data centre in Norway. In July, Anthropic also reached a $5 billion agreement with AMD.

In May, Anthropic disclosed a major computing agreement with SpaceX, using capacity from two SpaceX data centres. The arrangement was later reported to provide about $1.25 billion worth of computing capacity each month.

April brought another expansion, when Anthropic secured an additional 5 gigawatts of computing capacity through its expanded partnership with Amazon. The company also expanded its relationship with Google and Broadcom, adding further computing resources through Google and Broadcom’s TPU partnership.

AI Companies Race To Secure Compute

Anthropic’s spending reflects a broader race among leading AI companies to secure computing capacity before demand outpaces available infrastructure.

Google, OpenAI and Meta are also investing heavily in data centres, chips and long-term computing agreements. For Anthropic, the latest Nscale deal provides another large block of capacity while the company competes with larger rivals and prepares for continued growth in AI workloads.

The scale and duration of these agreements also show how AI infrastructure is increasingly being secured years ahead of actual deployment, as companies seek to lock in access to the computing power needed for future models and services.

Amazon and Nvidia are significantly expanding their partnership, with Amazon planning to deploy another 2 million Nvidia GPUs across AWS data centres in 2027 and 2028 as demand for AI computing accelerates.

The additional chips include Nvidia’s Blackwell Ultra, Rubin and Rubin Ultra GPUs. Neither company disclosed financial terms, but the deal is likely worth tens of billions of dollars based on current GPU prices.

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AI Demand Pushes AWS Expansion

Only five months ago, Amazon agreed to deploy more than 1 million Nvidia GPUs across AWS infrastructure starting in 2026. Since then, Nvidia said, demand has exceeded expectations, driven by startups, enterprises, AI labs and governments.

The companies are now expanding the relationship beyond GPUs. Nvidia’s networking technology, CPUs, data-processing software, open models and robotics platforms will also be integrated into AWS.

Amazon Continues Building Its Own Chips

The expansion comes as Amazon invests heavily in its own AI hardware. AWS has developed Trainium accelerators and Graviton CPUs to reduce its reliance on Nvidia, while Amazon has explored selling Trainium chips to other companies as an alternative for AI workloads.

Amazon’s custom-chip business has surpassed a $25 billion annualised revenue run rate, according to the company. Despite that growth, the latest Nvidia order shows that its hardware remains central to Amazon’s plans for expanding AI infrastructure.

Nvidia will also supply an unspecified number of Vera CPUs, with some integrated into Rubin systems and others operating independently. CEO Jensen Huang has described the Vera opportunity as a potential $200 billion total addressable market.

Partnership Expands Into Robotics And Enterprise AI

Amazon plans to use Nvidia’s physical AI stack across its warehouse robotics operations, including Omniverse for simulation, Cosmos for world models, Isaac for robotics development and Jetson hardware for edge AI.

For enterprise customers, AWS will offer Nvidia’s Nemotron family of open models through Amazon Bedrock and SageMaker, extending the partnership into managed AI services.

Nvidia Ramps Up Production

Nvidia’s expanded agreement with Amazon comes as the chipmaker continues to report strong demand for AI infrastructure. Second-quarter revenue reached $96.2 billion, while data-centre sales rose 117% year on year to $89 billion. Nvidia expects third-quarter revenue of $108 billion, with its next-generation Rubin products beginning to contribute.

Meanwhile, Nvidia has committed $279 billion to secure supply and manufacturing capacity for current and future data-cententre projects, up sharply from $119 billion in the previous quarter.

For investors, the key question is whether the rapid expansion of AI computing capacity will translate into equally strong and sustainable returns. Amazon’s latest commitment suggests that major technology companies are still willing to spend heavily to secure that capacity.

Meta has agreed to pay up to $18 billion to settle claims from U.S. states over children’s safety on Instagram and Facebook, but implementing the agreement will depend partly on age-verification technology that still faces accuracy and privacy challenges.

The settlement involves 52 attorneys general and requires Meta to introduce major changes to how minors use its platforms. Although Meta has not admitted wrongdoing, most of the measures will remain in place for 10 years, pending judicial approval.

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Settlement Goes Beyond The Financial Penalty

The $18 billion payment will be spread over a decade, reducing its immediate impact on Meta, which reported more than $200 billion in revenue in 2025. More significant for the company may be the operational changes required under the agreement.

Teen users will face a default two-hour daily limit across Facebook and Instagram, which can only be disabled with parental permission. Access will also be blocked between midnight and 6 a.m., while notifications will be muted during school hours and users will receive prompts after every 15 minutes of continuous use.

Age Verification Is Central To The Deal

Those safeguards depend on Meta identifying which users are minors. Under the agreement, the company will strengthen its technology for detecting users under 13 and identifying teenagers who may have registered with an adult birthday.

Meta already uses AI-based systems and other signals to identify potentially underage users. The company says it is expanding those systems and will invest in stronger age-assurance technology under the settlement.

Accuracy remains a challenge, however. Age-assurance systems can mistakenly classify adults as minors or fail to identify children, while different verification methods create different privacy risks.

Privacy Creates A Second Challenge

Current approaches can include government ID checks, facial age estimation and other forms of identity or behavioural analysis. Each method requires companies to balance accurate age checks against the amount of sensitive information users must provide.

A breach involving identity documents or biometric information could create serious consequences, particularly for minors. Unlike a password, biometric information cannot simply be changed after it is compromised.

Some experts argue that companies can reduce those risks by verifying age without retaining the underlying identity information, for example by generating a token that confirms whether a user falls below a particular age threshold.

Other Platforms Face Similar Pressure

Recent attempts to introduce age verification show how difficult implementation can be. Discord delayed its global rollout earlier this year following user backlash and said it would add alternative verification methods before expanding the system further.

Meta is now calling on TikTok and YouTube to adopt similar protections. The settlement gives that push an additional financial incentive: about 30%, or roughly $5.3 billion, of Meta’s payment is contingent on the two platforms introducing specified measures and making matching payments.

Settlement Could Set A New Platform Standard

For Meta, the agreement represents a significant shift in how child safety is built into its platforms, with several protections becoming default rather than optional.

The bigger test will be whether age assurance can identify minors accurately enough to make those safeguards effective without requiring users to surrender excessive personal information. If it succeeds, the settlement could establish a broader standard for how major social platforms handle children’s access and safety.

Cyprus is heading into a busy September for sovereign credit ratings, with DBRS Morningstar, S&P Global Ratings and Capital Intelligence Ratings set to review the country as economic growth remains well above the EU average.

DBRS will announce its decision on September 4, followed by S&P and Capital Intelligence on September 18. Fitch and Moody’s are scheduled to conduct their next assessments in November.

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Cyprus Holds Investment-Grade Ratings

All five major international agencies currently assign Cyprus investment-grade ratings, with recent assessments pointing to strong economic growth, sound public finances and a resilient banking sector.

DBRS confirmed Cyprus at A with a stable outlook in March, while S&P reaffirmed an A- rating with a positive outlook. Capital Intelligence maintained Cyprus at BBB+ with a stable outlook. Fitch later retained its A- rating with a positive outlook, while Moody’s kept Cyprus at A3 with a stable outlook.

Economy Grows 3.3% In First Half

Cyprus’ economy expanded 3.3% during the first half of 2026, according to Finance Minister Makis Keravnos, roughly three times the EU average. Unemployment stood at 4%.

Independent forecasts point to slower growth ahead. The Economics Research Centre of the University of Cyprus expects GDP growth to ease from an estimated 3.8% in 2025 to 2.7% in 2026 before recovering to 3.1% in 2027.

For comparison, second-quarter GDP increased 0.5% across the EU and 0.4% in the euro area from the previous quarter, according to Eurostat.

Inflation And Fiscal Policy Remain In Focus

Inflation increased from 0.5% in January to 3.1% in June, with the government forecasting a rate of around 4% by year-end. Authorities have allocated €200 million for measures aimed at easing the impact on households, while any extension of the reduced fuel tax will depend on economic developments.

Despite those pressures, Cyprus recorded a fiscal surplus equivalent to 1.1% of GDP in the first half of 2026. The government expects a full-year surplus of about €900 million and says the stronger fiscal position is supporting more than €1 billion in social policies while allowing it to repay around €1 billion of debt annually.

September Reviews Will Test The Outlook

The upcoming decisions will give investors a fresh assessment of whether Cyprus can maintain its strong economic and fiscal performance as growth moderates and inflation remains elevated.

With all major agencies already assigning investment-grade ratings, any change in Cyprus’ rating or outlook could affect its borrowing costs and position among international investors.

The Association of Cyprus Banks (ACB) expanded its financial literacy initiatives during 2025 and the first half of 2026, supporting Cyprus’ national strategy for financial education amid continued economic growth and pressure on households.

In an article published by its online publication Banking Insight, the ACB said its programmes complement the National Strategy for Financial Literacy and Education coordinated by the Cyprus Financial Literacy and Education Committee (CyFLEC), chaired by the Central Bank of Cyprus. The association contributes trainers, expertise and educational materials for students, young adults and other groups.

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Financial Education Expands In Schools

Cyprus recorded real economic growth of about 3.5% in 2025, while unemployment fell to historically low levels. Employment increased particularly strongly in construction, tourism and professional services, although labour shortages and greater reliance on foreign workers remained challenges.

At the same time, lower inflation eased some pressure on household budgets, while public finances remained stable and investment continued under European recovery programmes focused on digitalisation and sustainability.

Against that backdrop, financial literacy has become a greater policy priority. Since 2025, financial education has been incorporated into secondary schools, covering practical topics such as budgeting, saving and responsible borrowing. CyFLEC is coordinating the wider strategy for young people, adults and vulnerable households.

ACB Focuses On Practical Skills

The banking association has developed several programmes to make financial education more practical. Its “More than Money” initiative uses workshops and classroom exercises to teach secondary school students about budgeting, saving and responsible financial decisions.

For young adults entering the workforce, “Economics for Success” covers employment income, taxation, loans, basic investment concepts and long-term financial planning. ACB also participates in the European Money Quiz, which uses a competition format to test students’ knowledge of banking, personal finance and European economic concepts.

According to the association, these programmes are designed to give participants skills they can apply to everyday financial decisions rather than focusing solely on theoretical knowledge.

Housing And Labour Shortages Remain Challenges

The ACB’s assessment also points to several pressures facing Cyprus, including housing affordability, labour shortages and external economic risks. Migration, housing costs and economic modernisation are likewise reshaping the country’s social and economic environment.

A coordinated approach to financial education could help households make more informed decisions and strengthen their ability to manage future economic pressures, according to an assessment published by ACB Finance and Operations Department manager Vasso Michaelidou.

For Cyprus, the expansion of financial education comes alongside broader economic changes, making practical knowledge about saving, borrowing, taxation and long-term planning increasingly relevant to households and younger workers.

The European Central Bank is moving to build a unified European market for tokenised assets, warning that incompatible digital platforms could deepen fragmentation across Europe’s capital markets.

Speaking at a Deutsche Bundesbank symposium in Frankfurt, ECB Executive Board member Piero Cipollone said the central bank had moved from developing a vision for tokenised finance to implementation through its Pontes and Appia projects.

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Tokenisation Could Reshape Financial Markets

Distributed ledger technology (DLT) could make financial markets more efficient by allowing assets to be represented as programmable digital records and transferred around the clock with greater automation.

Europe’s financial infrastructure remains fragmented, with 31 central securities depositories, 14 central counterparties and 323 trading venues. More than 95% of securities transactions by volume and value were settled between parties within the same central securities depository in 2023, according to Cipollone.

Tokenisation could bring issuance, trading, clearing, settlement, custody and asset servicing into a more integrated digital environment. Smart contracts could also automate processes such as coupon payments, collateral transfers and compliance checks.

Tokenised Finance Moves Toward Wider Adoption

Global adoption is beginning to accelerate. Tokenised traditional assets recorded on public blockchains increased roughly fivefold between March 2025 and March 2026, Cipollone said.

In the U.S., one private platform processed an average of $354 billion in tokenised repo transactions per day in March 2026, four times its average daily volume a year earlier. European institutions are also developing tokenised bonds, deposits, collateral and settlement solutions.

The Eurosystem began accepting marketable assets issued through DLT-based services as eligible collateral at European central securities depositories in March. Despite that progress, tokenised real-world assets remain small compared with global financial markets and continue to face limited liquidity and secondary-market activity.

ECB Wants Central Bank Money At The Core

Cipollone identified fragmentation, the loss of central bank money as a settlement anchor and excessive dependence on external infrastructure as three key risks for Europe.

More than 50 Eurosystem trials and experiments involving 64 market participants in 2024 showed that central bank money could be used to settle transactions on DLT platforms. The ECB said the work confirmed that access to central bank money is a key condition for tokenised finance to develop safely and at scale.

“Central bank money does not carry credit or liquidity risk. What’s more, it serves as the common settlement anchor across the financial system,” Cipollone said.

Pontes And Appia Set The Framework

Pontes is designed to connect market-based DLT platforms with the Eurosystem’s TARGET Services, allowing the cash leg of transactions to settle in central bank money. The ECB plans to launch the service in September 2026, with operating hours eventually expanding and a 24/7 service planned by mid-2028.

Appia focuses on the broader architecture and governance of a European tokenised financial ecosystem. Its roadmap covers interoperability standards, collateral management, cross-border transactions, tokenised central bank money and the legal and regulatory framework. The ECB aims to produce a blueprint for the ecosystem by 2028.

The two projects are designed to work together. Pontes provides the near-term settlement infrastructure, while Appia addresses the longer-term architecture, standards and governance needed for an integrated market.

Common Standards Will Determine Success

Cipollone said successful expansion will depend on common standards and interoperability, cooperation between public and private sectors, and an integrated legal framework.

“Competition should be in services, quality and price, not through incompatible standards or walled gardens,” he said.

Technology alone will not eliminate fragmentation. European rules also need greater clarity on ownership rights, settlement finality, liability, custody, asset servicing and the enforceability of smart-contract outcomes.

“Technical interoperability without legal compatibility will remain incomplete and fail to overcome fragmentation,” Cipollone said.

For the ECB, the objective extends beyond modernising settlement. Coordinated infrastructure, common standards and a compatible legal framework could help create a more integrated and competitive European capital market.