The European Securities and Markets Authority (Esma) has begun collecting data from national authorities and officially appointed mechanisms, marking the first major implementation step for the European Single Access Point (Esap).

The initiative will create a single digital platform for corporate and financial information across the European Union, allowing investors and the public to access key disclosures through one central portal instead of multiple national systems.

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A Central Hub For Corporate Data

Once fully operational, Esap will provide free access to a broad range of financial and sustainability-related information on companies and their products.

Investors, analysts and other market participants will be able to access and compare corporate disclosures more easily across the EU through a single platform.

Building The Platform Ahead Of Launch

Over the next 12 months, Esma will focus on building the platform’s data repository ahead of its planned public launch in July 2027.

During this phase, national authorities will submit both information and metadata, creating the foundation for the EU-wide database.

The First Data To Be Added

Initial disclosures will cover requirements under the Transparency Directive, the Prospectus Regulation and the Short Selling Regulation.

These include periodic financial reports, prospectuses for public securities offerings and disclosures related to short positions. Coverage is expected to expand over time as additional EU legislation is incorporated.

Supporting More Transparent Capital Markets

By bringing together information currently spread across national databases, Esap is expected to make corporate disclosures easier to access while strengthening transparency across European capital markets.

DP World, the Dubai-based ports operator with a direct presence at Limassol port, is advancing plans for a new gateway on the UAE’s east coast that would allow cargo to bypass the Strait of Hormuz, as rising tensions with Iran prompt Gulf economies to strengthen the resilience of their trade routes.

A Strategic Shift In Gulf Logistics

According to an exclusive Financial Times report, the company is in talks to develop a new multipurpose port on the Fujairah coast, alongside a container terminal at the emirate’s existing port. Reuters said it had not independently verified the plans.

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The development is particularly relevant for Cyprus because DP World operates the multipurpose and cruise terminal at Limassol port. DP World Cyprus holds a 25-year concession covering general cargo, break-bulk, Ro-Ro and passenger operations, while fellow group company P&O Maritime has a separate 15-year concession for marine services, including towage and pilotage.

Why Fujairah Matters

The proposed facilities would expand DP World’s presence on the Gulf of Oman and create an alternative logistics corridor outside the Strait of Hormuz, one of the world’s most strategically sensitive shipping routes. Cargo could be unloaded in Fujairah before being transported by road to Dubai, Abu Dhabi and other Gulf markets.

A senior company official told the Financial Times the port could be completed within 18 months. While DP World declined to confirm the individual projects, it said “plans are in the works” to address ongoing disruption.

Jebel Ali Remains The Anchor

Even so, the Fujairah development would not supplant Jebel Ali, the flagship of Dubai’s emergence as a global logistics and re-export hub. Jebel Ali handled 15.6 million twenty-foot equivalent units in 2025, representing a substantial share of DP World’s global container volumes. A senior official told the FT that Jebel Ali would “never shrink,” indicating that Fujairah would function as an alternative lane rather than a rival hub.

That distinction matters. Jebel Ali’s warehouses, free zone and industrial ecosystem were built on the assumption that vessels would continue to pass freely through Hormuz. The conflict that began on February 28, after U.S. and Israeli strikes on Iran, has exposed the vulnerability of concentrating so much of the region’s trade infrastructure inside the Gulf.

The Pressure On Maritime Trade Keeps Rising

The latest shipping data reinforced that concern. Reuters reported that only six vessels crossed the strait on Sunday, the lowest level in five weeks, as renewed U.S.-Iranian strikes and attacks on commercial shipping increased safety fears. Oil and gas tanker traffic also fell to its lowest point since May 25.

Meanwhile, the WTO’s Strait of Hormuz trade tracker showed only limited and uneven signs of recovery after the June 17 agreement, with crude, liquefied natural gas and fertiliser flows still well below normal levels.

A Chokepoint No Longer Seen As Reliable

The threat intensified further on Tuesday when UAE authorities said Iranian cruise missiles struck two Emirati tankers, killing one sailor and injuring eight others. The attack sharpened the case for diversification and highlighted the commercial logic behind DP World’s eastward expansion.

In that context, the Fujairah project is not simply about adding capacity. It is about building resilience into the UAE’s trade architecture and reducing exposure to a chokepoint that can no longer be treated as reliably open.

Limassol’s tourism sector is facing a challenging year, but business travel, international conferences and the city’s growing technology sector are helping offset weaker leisure demand.

That is the assessment of Christos Tsanos, president of the Limassol branch of the Cyprus Hoteliers Association (Pasyxe), who said conference and corporate travel have become increasingly important as holiday bookings remain under pressure.

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Business Travel Helps Offset Weaker Tourism

Speaking to Entrepreneurial Limassol, the publication of the Limassol Chamber of Commerce and Industry (Evel), Tsanos said the sector’s recovery has been slower than expected, partly because many travellers plan holidays to Cyprus well in advance.

Uncertainty began affecting bookings in February and March, he said, leaving visitor numbers down by around 20% in the first quarter of 2026 compared with the same period last year.

The slowdown deepened in April, May and June, when Limassol recorded roughly 25% fewer visitors than a year earlier.

“There is still a problem,” Tsanos said.

From May onwards, however, hotels and tourism operators stepped up efforts to attract conference delegates, business travellers and corporate events.

Limassol Expands Its MICE Strategy

As leisure demand softened, the city strengthened its presence at international exhibitions, including ITB Berlin and IMEX Frankfurt, while promoting itself as a destination for meetings, incentives, conferences and exhibitions (MICE).

Working alongside the Limassol Tourism Development and Promotion Company, Pasyxe and other stakeholders, the city has focused on attracting more international business events.

Tsanos said conference delegates have generally proved more willing to travel than leisure visitors, helping support hotels and the wider tourism industry.

Technology Events Gain Importance

Tsanos said technology, innovation and business conferences are becoming an increasingly important part of Limassol’s economy.

He added that international events generate spending well beyond hotels, benefiting restaurants, transport providers, retail businesses and other local services.

Looking Beyond The Coast

Looking ahead, Tsanos said Limassol should continue investing in tourism infrastructure and public transport while encouraging visitors to explore destinations beyond the coastline.

He argued that better transport links would make it easier for tourists to reach the Troodos foothills, forests, nature trails, waterfalls and reservoirs, broadening the district’s tourism offering.

Challenges Still Remain

Tsanos also welcomed Limassol’s integrated resort and casino, saying its conference facilities have strengthened the city’s ability to host major international events.

Despite that progress, he identified illegal short-term rentals and worsening traffic congestion as the sector’s biggest long-term challenges.

He said all accommodation providers should operate under comparable regulatory standards to ensure fair competition, while improvements to public transport and wider mobility infrastructure will be essential as Limassol continues to attract international companies and business travellers.

Anthropic has begun introducing local pricing for Claude in India, its largest market outside the United States, as global AI companies intensify efforts to expand in one of the world’s fastest-growing technology markets.

Local pricing is now appearing for some users on Claude’s website and mobile apps in India. Unlike OpenAI, however, Anthropic has yet to enable payments through the Unified Payments Interface (UPI), the country’s dominant instant payment system. Indian users must still pay by card or through Apple’s and Google’s app store billing platforms.

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Removing A Barrier For Indian Users

The move removes one of the main barriers for Indian subscribers, who until now had to pay in U.S. dollars and absorb currency conversion costs. According to Anthropic, India accounts for 5.8% of global Claude usage, making it the company’s second-largest market after the United States.

How Claude Is Priced In India

On Claude’s website, the annual Pro plan is priced at ₹2,000 per month (around $21), compared with $17 in the U.S. Claude Max starts at ₹11,999 per month (around $125), versus $100 in the U.S., while Team plans begin at ₹2,399 (around $25) per user each month, compared with $20 in the U.S. Indian prices include local taxes, while pricing on the mobile apps varies slightly.

A Bigger Push Into India

The pricing update forms part of Anthropic’s broader expansion in India. The company opened an office in Bengaluru in February after announcing its plans last October, appointed former Microsoft India managing director Irina Ghose to lead its local operations in January, and has partnered with Infosys and Tata Consultancy Services to expand enterprise AI deployments.

The expansion has not been without challenges. In June, Anthropic suspended access to its Fable 5 and Mythos 5 models for users outside the United States, prompting some Indian developers and startup founders to explore alternatives from other AI providers. Access to Fable 5 has since been restored, while Mythos 5 remains restricted.

India has become a strategic market for AI companies because of its large developer community and expanding technology sector. The challenge now is turning strong user adoption into paid subscriptions in a market where price sensitivity remains high.

Anthropic did not respond to a request for comment.

Cypriot beverage producer Keo is awaiting final government approval to proceed with a €50 million investment in a new distribution and spirits bottling centre in Limassol, one of the district’s largest planned private industrial developments in recent years.

A Strategic Industrial Investment

According to Entrepreneurial Limassol, the publication of the Limassol Chamber of Commerce and Industry (Evel), Keo has been waiting for more than two years for planning and building permits despite having already submitted the required applications.

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The project will consolidate the company’s core production, processing and logistics operations under one roof in a modern Distribution and Spirits Bottling Centre.

Delays Add Cost Pressure

Keo says the prolonged licensing process has increased the project’s cost as construction prices in Limassol have continued to rise. According to information obtained by Entrepreneurial Limassol from the Limassol District Local Government Organisation (EOA Limassol), the licensing process is now in its final stage.

“Once positive opinions are received from the Department of Environment and the Department of Public Works, the permit will be issued, allowing construction to begin,” the organisation said.

A Prime Location Near The Port

The new facility will be built in the Archangel Michael area of Polemidia, next to the port access road, providing direct links to the Port of Limassol and the Limassol–Paphos motorway.

Construction is expected to begin immediately after the permits are issued. The project will take around 24 months to complete and will cover approximately 44,000 square metres, while a further 9,612 square metres will be allocated as public green space.

What Will Move — And What Will Stay

The new centre will operate alongside Keo’s winery in Mallia and will include office space and the unit’s administrative headquarters.

The company will retain its brewery at its current location between Limassol’s old and new ports, where it has operated since 1939 and has produced Keo beer since 1951.

Keo says the brewery remains an important part of the company’s identity and argues that brewing does not constitute heavy industrial activity or create significant disruption for neighbouring areas. It also notes that many European cities continue to operate breweries within urban environments.

Looking Ahead

Keo expects the redevelopment of the area between Limassol Marina and the Port of Limassol, together with the planned coastal road connection, to increase visitor traffic, strengthening the case for keeping the brewery at its current site.

Although the brewery is currently closed to visitors for safety reasons, the company plans to reopen it with a redesigned layout that will allow public access.

Keo has not yet decided how it will use the waterfront properties that will become available once part of its operations relocate.

Waze is rolling out a major upgrade to its navigation platform, introducing AI-powered features, deeper personalisation and new tools designed to make driving less distracting and more responsive to real-world conditions.

Google Brings Gemini Deeper Into Waze

The Google-owned app is integrating Gemini, Google’s AI assistant, as part of the company’s broader push to bring AI across its products.

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Among the headline updates is conversational voice search, allowing users to find places based on intent rather than exact names. Drivers can ask questions such as “Find me a coffee shop that’s open right now,” “Find me parking near Grand Mall,” or “Find me the cheapest gas station nearby,” with Waze returning relevant suggestions.

The feature is currently rolling out to the Waze beta community worldwide on Android and iOS.

Personalized Routes Based On Driving Preferences

Waze is also expanding personalised navigation by suggesting routes based on a user’s driving history and local traffic patterns. Drivers who consistently prefer highways over local roads, for example, will see those routes suggested first.

Users can still choose alternative routes or disable personalisation in the app’s settings. The rollout is now underway globally on Android and iOS.

Motorcycle Mode Targets Two-Wheeler Realities

For riders, Waze is introducing a new Motorcycle mode designed to account for road restrictions, shortcuts and hazards specific to two-wheel travel.

Using AI, the feature generates more suitable routes and more accurate arrival estimates while highlighting obstacles such as potholes, speed bumps, raised crosswalks, shoulder endings and narrow bridges.

The mode is rolling out in Argentina, Brazil, Colombia, Malaysia, Mexico, Peru and the Philippines on Android and iOS, with additional markets expected to follow.

Conversational Road Reporting Becomes More Useful

Waze already allows drivers to report traffic incidents using natural speech. It is now extending that capability to map updates, enabling users to verbally report road closures, outdated addresses and other issues, which are then forwarded to local map editors.

Instead of navigating through menus, drivers can simply say, “The road is closed here.” The capability is becoming available globally on Android and iOS.

A Quieter Option For Focused Driving

To reduce distractions, Waze is also introducing a “less chatty” mode that shortens and reduces the frequency of voice prompts while continuing to provide essential navigation instructions and hazard alerts.

Users on Android and iOS will receive the feature as the global rollout continues.

Housing costs in Nicosia remain well below those in most western European capitals, according to new data from Global Property Guide, highlighting the wide gap in residential property prices across Europe.

Nicosia And Athens Remain Among Europe’s More Affordable Capitals

The latest figures from Global Property Guide, which tracks residential property markets across 88 countries, show that both Nicosia and Athens remain among Europe’s more affordable capital cities, despite years of steady price growth.

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In Cyprus, the median asking price for a one-bedroom apartment in Nicosia stands at €145,000. Two-bedroom apartments are priced at €205,000, while three-bedroom homes reach €280,000.

That places Nicosia slightly above Athens in the one-bedroom category, where the Greek capital records a median asking price of €135,000. For two-bedroom and three-bedroom apartments, however, prices are identical in both cities at €205,000 and €280,000, respectively.

Western Europe Commands A Premium

Athens also remains relatively affordable by European standards. Median asking prices for one-bedroom apartments reach €174,000 in Warsaw, €240,000 in Madrid, €310,000 in Milan and €325,000 in Berlin.

The gap is even more pronounced in Western Europe, where one-bedroom apartments cost around €440,000 in both Paris and Lisbon, more than three times the price seen in Athens.

The difference becomes even greater for larger homes. A three-bedroom apartment carries a median asking price of €280,000 in both Athens and Nicosia, compared with €685,000 in Lisbon, €690,000 in Milan, €845,000 in Berlin and €1.08 million in Paris.

For two-bedroom apartments, the contrast is equally striking. While homes are priced at €205,000 in Athens and Nicosia, equivalent properties cost €380,000 in Madrid, €455,000 in Milan, €527,000 in Berlin, €620,000 in Lisbon and €695,000 in Paris.

Europe’s Most Expensive Property Markets

Global Property Guide’s data also highlights the wide variation in residential property prices across Europe.

Zurich is the continent’s most expensive market for a one-bedroom apartment, with a median asking price of €1.151 million. It is followed by Luxembourg (€669,000), Copenhagen (€601,000), Munich (€548,000) and London (€522,000), while Paris and Lisbon are both priced at around €440,000.

The Most Affordable Cities

At the other end of the market, the lowest asking prices are concentrated in south-eastern and eastern Europe. Median asking prices for a one-bedroom apartment stand at €125,000 in Riga, €118,000 in Podgorica, €110,000 in Bucharest, €103,000 in Sarajevo and €79,000 in Chisinau.

According to the report, Skopje is Europe’s most affordable capital for one-bedroom apartments, with a median asking price of just €55,000.

Cypriots are among the European Union’s strongest supporters of tougher action against tax evasion and avoidance, with 64% saying it should be the bloc’s top tax priority.

According to the European Commission’s annual report published last week, Cyprus ranked second only to France, where 65% of respondents prioritised tackling tax evasion. Portugal followed at 61%, while Finland recorded 60%.

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Tax Evasion Tops EU Priorities

Across the EU, 54% of respondents said combating tax avoidance and evasion should be the Union’s main tax policy objective.

Preventing double taxation between member states ranked second at 26%, followed by resolving cross-border tax disputes (23%), supporting the green transition through taxation (19%) and further digitalising tax and customs procedures (16%).

Estonia was the only member state where preventing double taxation ranked ahead of tackling tax evasion.

Billions Lost To Tax Gaps

The survey comes as the European Commission estimates the EU’s VAT compliance gap reached €128 billion in 2023, representing the difference between expected VAT revenues and the amount actually collected.

The Commission also estimated that the average corporate income tax compliance gap across 23 member states amounted to 10.9% of corporate tax revenues.

It said stronger data collection, digital reporting, artificial intelligence and closer cooperation between national tax authorities could help reduce those losses.

Cyprus’ Tax Profile

EU governments collected €7.1 trillion in tax revenues in 2024, with the overall tax-to-GDP ratio rising to 39.4%. Cyprus recorded a lower ratio of 36.3%, up slightly from 36.2% in 2023.

Corporate taxation continues to play a significant role in Cyprus, accounting for 19% of total tax revenue in 2024, the third-highest share in the EU after Ireland and Malta.

The report also noted Cyprus’ decision to increase its corporate tax rate from 12.5% to 15% in line with the global minimum tax framework. It highlighted additional measures aimed at tackling aggressive tax planning, including a 17% withholding tax on certain payments to companies in jurisdictions listed by the EU as non-cooperative and a new corporate residency test based on incorporation.

Filing Tax Returns

Across the EU, 52% of respondents described filing their tax returns as easy, while 22% found the process difficult.

In Cyprus, 51% said filing was easy, although 12% relied on an accountant or other tax professional. More than 15% of respondents in Cyprus, Germany and Ireland also described the support provided by their tax authorities as “very inadequate”.

Cyprus has formally endorsed the second phase of the European Tech Champions Initiative (ETCI 2.0), joining all EU member states in backing an investment programme expected to mobilise up to €80 billion for high-growth European technology companies.

The announcement followed the initiative’s presentation in Brussels last week on the sidelines of the Economic and Financial Affairs Council meeting, where the EIB Group, EU governments, institutional investors and fund managers confirmed their support.

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A Push To Close Europe’s Late-Stage Funding Gap

According to the finance ministry, Cyprus’ participation reflects its commitment to strengthening Europe’s innovation ecosystem and improving access to growth capital.

ETCI 2.0 is designed to address Europe’s long-standing shortage of late-stage funding for technology companies seeking to scale internationally.

The programme aims to raise €15 billion, around four times the size of the original fund launched in 2023, with the potential to unlock as much as €80 billion in investment for more than 1,500 European scale-ups. Its final size will be confirmed following the first closing process in the second half of 2026.

Building On The First Phase’s Results

The European Investment Bank Group is expected to contribute up to €1.25 billion from its own resources, according to the official announcement.

The second phase builds on the original ETCI programme, which supported 15 major investment funds and helped foster the creation of 12 European unicorns, companies valued at more than €1 billion.

Under the expanded structure, ETCI 2.0 will continue backing large technology funds while also extending support to mid-sized growth funds above €300 million for the first time.

The programme is expected to support the creation of more than 100 investment funds, including up to 45 mega-funds focused on scale-ups, with average investment tickets of about €200 million per company.

A New Platform For Cross-Border Capital

In addition to capital deployment, the initiative will establish a pan-European investment platform designed to connect investors with technology funds across the continent. The digital tool is intended to improve access to opportunities, market data and ecosystem insights.

The initiative is already backed by private institutional investors and asset managers, including Danske Bank, Banco Santander, BBVA, Azimut Holding and Green Arrow Capital, with further investors expected to join later.

The programme is set to complement national and European initiatives such as France’s Tibi initiative, Germany’s WIN programme and the Scaleup Europe Fund, with the broader goal of creating a more integrated European investment ecosystem.

Cyprus Welcomes The Initiative

Finance Minister Makis Keravnos described ETCI 2.0 as an important step towards strengthening European innovation, competitiveness and strategic resilience.

“By bringing together public and private resources, the initiative will support the growth of Europe’s most dynamic technology companies and help them expand internationally while keeping their base in Europe,” Keravnos said.

EIB Group President Nadia Calviño said the programme would help close Europe’s scale-up funding gap, allowing innovative companies to grow without relocating outside the continent. She noted that the first phase supported the creation of 15 investment funds and 12 unicorns within two years, providing the foundation for the expanded initiative.

Cyprus could reallocate funding from its Thalia 2021-2027 programme to help tourism businesses cope with the economic impact of conflict in the Gulf and broader instability in the Eastern Mediterranean, the European Commission has confirmed.

Brussels Signals Flexibility

The clarification came in response to a parliamentary question from Cypriot MEP Michalis Hadjipantela, who said the regional crisis was already leading to booking cancellations, weaker demand and growing uncertainty across the tourism sector.

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Hadjipantela argued that the disruption was placing pressure on hotels and smaller tourism businesses, and asked whether existing EU funding mechanisms and state aid rules could be used more flexibly to support affected companies.

Thalia Funding Could Be Redirected

The Commission said Cyprus may use resources available under the Thalia 2021-2027 cohesion policy programme to support small and medium-sized enterprises, including tourism businesses.

It added that the Cypriot authorities could redirect funding through an amendment to the programme and confirmed that discussions with the relevant government departments were already under way.

Call For Swift Action

Hadjipantela welcomed the Commission’s response, saying it confirmed that European support mechanisms were available.

He urged the government to move quickly with the necessary amendments so that Thalia funding could be made available to businesses affected by the regional crisis.

“We must not allow available funds from the Thalia programme to remain unused,” he said, adding that businesses should not have to bear the financial consequences of international instability alone.