New Benchmark Sheds Light on AI’s Capabilities

OpenAI has unveiled GDPval, a new benchmark designed to evaluate its AI models against human professionals across a broad spectrum of industries. This initiative represents a critical step in understanding how far today’s AI is from matching or surpassing the work quality of experts in sectors such as healthcare, finance, manufacturing, and government.

Methodology and Industry Scope

The GDPval benchmark focuses on nine major industries contributing to America’s gross domestic product and tests AI performance in 44 distinct occupations—from software engineering to nursing and journalism. In its initial version, GDPval-v0, industry professionals compared reports generated by AI models with those produced by their human counterparts. For instance, investment bankers were tasked with evaluating competitor landscape analyses for the last-mile delivery industry, ensuring that the assessment reflects real-world complexity.

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Comparative Performance: AI Advances and Limitations

Results indicate promising progress; OpenAI’s GPT-5-high, an enhanced iteration of its flagship model, achieved a win rate of 40.6% when compared head-to-head with industry veterans. More notably, Anthropic’s Claude Opus 4.1 reached nearly 49% on similar criteria. However, OpenAI acknowledges that these models are not yet positioned to replace human labor entirely, as the current iteration of GDPval covers a narrow slice of actual job responsibilities.

Expert Insights and Future Directions

In a discussion with TechCrunch, OpenAI’s chief economist, Dr. Aaron Chatterji, noted that the benchmark’s favorable outcomes suggest professionals may soon delegate routine tasks to AI. This, he argued, will free up valuable time for focusing on higher-impact work. Industry observer Tejal Patwardhan also expressed optimism, emphasizing the significant performance leap from GPT-4’s 13.7% score to nearly triple that figure with GPT-5.

Benchmarking And The Road To Comprehensive AI Evaluation

While GDPval represents an early milestone, it aligns with a broader effort among Silicon Valley titans to create robust testing frameworks, such as AIME 2025 and GPQA Diamond, that better quantify AI proficiency for real-world applications. OpenAI plans to expand GDPval to encapsulate more industries and interactive workflows, aiming to bolster its claims about AI’s growing economic value.

As the benchmark evolves, GDPval could play an instrumental role in the ongoing debate around artificial general intelligence, highlighting the potential and limitations of AI models poised to reshape the modern workforce.

Overview Of The New Proposal

A legislative proposal currently under parliamentary review mandates that homeowners resolve outstanding utility bills and obtain formal clearance from their residential complex’s management committee prior to the sale of their property. The measure is designed not only to secure financial obligations when selling but also to mitigate the risk of unpaid bills adversely affecting community resources.

Committee Oversight And Financial Management

Under the proposed bill, residential complexes will be required to establish a dedicated management committee. This committee will oversee the collection of fees as part of the common expenses while managing a fund held in a licensed credit institution. The fund is intended to cover essential costs including property management, insurance, repairs, renovations, and energy upgrades. Additionally, homeowners who default on their contributions may face sanctions, including enforced deductions from rental payments made by tenants.

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Strategic Implications For Owners And Tenants

The legislation imposes significant accountability measures for property owners. Those seeking to sell must submit a formal confirmation of utility bill settlement to public authorities, ensuring transparency in transactions. For tenants, the law provides protection by allowing them to offset unpaid amounts directly from their rent. This structured approach not only reinforces fiscal responsibility but also fosters a more stable environment within residential communities.

Overview

In 2024, the European Union’s international trade landscape was significantly shaped by the dominance of maritime transport. Eurostat data reveals that the sector played a pivotal role, handling the bulk of the physical trade volume while other modes of transport maintained a secondary, albeit economically significant, position.

Trade Volume Versus Value

According to the findings, seaborne imports reached 1.1 billion tonnes valued at €1.25 trillion, while exports amounted to 0.5 billion tonnes, worth €1.13 trillion. Maritime operations accounted for an overwhelming 75.6% of imports and 73.7% of exports by weight. However, when evaluated in monetary terms, the share was notably lower at 51.3% for imports and 43.6% for exports. This contrast underscores the divergence between the physical volume of goods moved and their corresponding economic value.

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Other Modes of Transport

Other transport modes played complementary roles in the overall trade ecosystem. Rail transport contributed modestly, accounting for 3.1% of import volume and 2.9% of exports by volume—a mere 1.5% and 1.3% of trade value, respectively. Air transport, though responsible for only 0.2% of imports and 2.8% of exports by weight, represented a disproportionately high value share at 18.3% and 27.1%. Road transport also demonstrated similar dynamics with 20.4% of import value and 24% of export value, despite handling 5.8% and 16.5% of the physical volumes, respectively.

Member-State Focus

Among EU member states, Cyprus and Malta emerged as the most reliant on maritime trade. For instance, Cyprus moved 98.6% of its imports and 97.2% of its exports by sea in 2024, with minimal reliance on alternative modes. Malta exhibited a similar pattern, with 99.1% of its imports and 98.5% of its exports transported by sea.

Other nations displayed a more diversified transportation matrix. Greece, a renowned shipping hub, moved 92.4% of its imports and 87.9% of its exports by sea. In contrast, the Netherlands, the continent’s largest port economy, recorded lower shares of 77.6% for imports and 66.8% for exports by sea. Germany and Poland further illustrate this diversification; Germany relied more heavily on road, rail, and pipelines with maritime shares of 59.7% for imports and 49.2% for exports, while Poland accounted for merely 45.8% of imports and 31.4% of exports via sea.

Conclusion

The data from 2024 underscores the strategic significance of maritime transport within the EU’s trade framework. As global trade dynamics evolve and the demand for efficiency grows, the EU’s maritime infrastructure appears poised to maintain its critical role, even as complementary transport modes continue to enhance value delivery across the bloc.

Overview

The Central Information Register (CIR) stands as a critical safeguarding mechanism, maintained by the Central Bank of Cyprus. This computerized system aggregates data on individuals and legal entities involved with dishonoured cheques, thereby ensuring the reliability of the nation’s payment network while providing financial institutions with essential insights into client conduct.

Regulated Registration Process

Registration occurs when a cheque is returned unpaid due to insufficient funds and is governed by strict criteria as stipulated by central bank directives. Whether it involves multiple instances of non-payment, a single high-value cheque, or repeated offenses within a specified time frame, the obligation to report lies with the commercial bank holding the account. The bank supplies detailed information—including account details, the cheque issuer’s name, and identities of key account controllers such as directors or authorized signatories—while the final decision rests solely with the Central Bank of Cyprus.

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Consequences And Removal Procedures

Inclusion in the CIR carries significant financial and reputational repercussions. A registered individual may face the freezing of personal and commercial accounts, an inability to issue new cheques, diminished creditworthiness, and difficulties establishing new banking relationships. Professionals and business leaders particularly suffer reputational damage. However, those registered have recourse: a formal removal request can be submitted provided evidence is presented that they were not liable for the dishonoured cheques, debts have been settled, or the registration period has lapsed. This appeal is reviewed by the CIR Management Committee, which may seek further information from the reporting bank before rendering a decision.

Legal Clarifications And Supreme Court Rulings

A landmark Supreme Court decision (Case No.C.A.221/2015) elucidated the responsibilities surrounding the CIR. The ruling affirmed that the Central Bank of Cyprus retains exclusive authority to register an individual, while commercial banks are mandated only to provide verified information. The court highlighted that adherence to official documentation—such as corporate records and board meeting minutes—precludes allegations of defamation, provided that the data is accurate. This decision underscores the critical importance of maintaining up-to-date corporate records to prevent erroneous registrations.

In summary, the CIR process reflects a clearly defined institutional framework where commercial banks function as data conduits, and the Central Bank executes final determinations. Such procedural clarity is vital for upholding financial integrity and ensuring due process within Cyprus’s banking sector.

Robust Deposit Growth in August 2025

According to the latest deposit and loan statistics released by the Central Bank of Cyprus (CBC), bank deposits in Cyprus experienced a net increase of €44.3 million in August 2025, marking a notable recovery from July’s net decrease of €154.5 million. The annual growth rate of total deposits registered 6 percent, a slight reduction from the 6.5 percent observed in the previous month. The overall cumulative deposit balance reached €56.5 billion by the end of August, underscoring the sector’s resilience.

Diverse Impacts Across Sectors

Breaking down the figures further, deposits held by Cyprus residents saw an impressive rise of €133.6 million. Household deposits increased by €46.5 million, while non-financial corporate deposits surged by €152.7 million. In contrast, deposits in other domestic sectors experienced a decline of €65.7 million, highlighting a divergent performance across different segments of the market.

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Declining Loan Volumes

While deposit inflows showcased strength, the CBC data revealed a net decrease in total loans by €60.8 million in August 2025. This downturn reverses the preceding month’s net increase of €74.9 million, though the annual growth rate of total loans remained solid at 7.2 percent, consistent with July’s performance. By the end of August, the overall balance of loans had adjusted to €26.4 billion.

Sector Specific Loan Analysis

Examining the loan portfolio, loans extended to Cyprus residents declined by €69.9 million. In detail, household loans fell by €15.5 million, and loans to non-financial corporations decreased by €48.6 million, while those from other domestic sectors dropped by €5.8 million. This contraction in lending activity reflects a cautious approach by financial institutions amid evolving economic conditions.

Implications for the Financial Landscape

The latest figures from the CBC suggest a nuanced financial landscape in Cyprus, where robust deposit growth coexists with a tightening of loan portfolios. This duality may indicate a shift in bank strategies, balancing the accumulation of stable deposits against more conservative lending approaches. For market participants, these trends warrant careful monitoring as they adapt to a dynamic economic environment.

Event Overview and Key Insights

The Cyprus Chamber of Commerce and Industry (Keve) hosted a pivotal event titled “The Geostrategic Position of Cyprus in the Modern World,” drawing an influential audience from business, government, and academia. Strategic analyst, mathematician, and author Nikos Lygeros delivered a keynote address that examined contemporary regional dynamics and emerging commercial corridors in the Eastern Mediterranean.

Analyzing Quarter-Century Projects

During his presentation, Lygeros provided an incisive analysis of the Great Sea Interconnector (GSI) project, emphasizing its critical role in enhancing Cyprus’ energy security. He argued that the GSI not only strengthens the nation’s energy grid but also unlocks significant business opportunities by integrating Cyprus with the broader European energy market.

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Emerging Geopolitical Corridors

Lygeros expanded on the development of a novel geopolitical and commercial corridor spanning India, Saudi Arabia, Israel, Cyprus, Greece, and Italy. This emerging network, he noted, solidifies Cyprus’ status as a strategic nexus in the Eastern Mediterranean, fostering regional stability and economic growth.

Policy Endorsements and Strategic Advocacy

In attendance, the President of Keve reiterated the chamber’s commitment to national strategic advice, underscoring the importance of collaborative policy-making for long-term stability. Energy Minister George Papanastasiou also addressed the gathering, highlighting robust government backing for major energy projects that complement Cyprus’ evolving position.

Audience Engagement and Forward-Looking Initiatives

The event concluded with an interactive discussion, reinforcing the high level of engagement among participants on matters critical to the nation’s energy and strategic policy framework. Keve affirmed its dedication to hosting further initiatives that promote strategic foresight and informed dialogue within the business community and beyond.

London-based fintech leader Checkout.com has unveiled a pioneering share buyback program, offering employees a timely opportunity to monetize their equity at an internally updated valuation. With this strategic move, the payments platform reinforces its commitment to rewarding long-term contributions and ensuring liquidity for its team amidst shifting market dynamics.

Strategic Move to Enhance Employee Value

In a recent announcement, Checkout.com confirmed it would launch the share buyback initiative, allowing staff to access cash by selling a portion of their shares. The decision comes as part of the company’s ongoing efforts to sustain a competitive edge in the rapidly evolving fintech landscape. The internal valuation now stands at approximately $12 billion, a notable adjustment from its previous funding figures.

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Navigating Market Valuations and Growth Prospects

Previously valued at $40 billion during a $1 billion funding round in 2022, the company has since recalibrated its internal metrics, with figures reported as low as $11 billion later that year. Despite this revaluation, Checkout.com maintains robust operational metrics, aiming to exceed a target of 30% core net revenue growth. Furthermore, the firm forecasts an impressive $300 billion in annual e-commerce payment volume, underscoring its resilience in a competitive market that includes heavyweights such as Stripe, Adyen, and PayPal.

Innovation and Future Growth

CEO and founder Guillaume Pousaz reinforced the company’s forward-looking strategy, emphasizing a relentless focus on growth and innovation. With the anticipated impact of artificial intelligence and the rise of agentic commerce, Checkout.com is well-positioned to harness new technological advancements and market opportunities. This sentiment mirrors actions taken by other leading fintechs, as illustrated by recent moves from Stripe and Revolut, both of which have also introduced secondary market share sales.

A New Paradigm in Fintech Employee Incentives

The share buyback initiative is emblematic of a broader industry trend, where private fintech companies are increasingly offering employees liquidity despite prolonged periods away from public market pressures. This approach not only incentivizes staff but also aligns employee interests with the company’s strategic vision for future success.

Background and Trigger

Cypriot customs officers at the Limassol port have initiated a 24‐hour strike, protesting the premature implementation of the new Automated Import System (AIS). The decision to protest stems from concerns that the system presents significant operational issues and was introduced without adequate preparatory training. This action is supported by customs staff in Nicosia, reinforcing a broader call for a delay.

Concerns Over Training and System Reliability

Introduced in February following considerable delays, the AIS was slated for launch on June 30. Though European regulations dictate a 12- to 24-month training period for such systems, only a brief extension—up to September 29—was granted following requests from the customs officers. According to industry representative Christos Akaros, the current phase of training has revealed delays, technical traps, and other deficiencies that heighten the risk of errors in critical operations.

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Lack of Administrative Response

The Customs Officers Association of Cyprus communicated these challenges to the Customs Department, yet received no meaningful response. The failure to address these concerns prompted the General Assembly to approve industrial action, culminating in the planned strike starting Thursday, September 25.

Operational Impact and Future Implications

The strike is expected to affect container clearance activities at Limassol’s already overcrowded port area, potentially disrupting supply chains further. In a warning noted by Akaros, if corrective measures are not implemented promptly, customs officers may indefinitely refrain from using the new system, thereby exacerbating logistical challenges and operational inefficiencies.

Conclusion

This industrial action not only underscores the critical need for a cautious, well-supported rollout of new technology in high-stakes environments, but it also highlights significant communication gaps between frontline operatives and administrative authorities. The coming days will determine whether stakeholders can collaboratively rectify these issues to secure both operational efficiency and economic stability in Cyprus.

Microsoft has announced a decisive move to halt specific cloud services provided to a division within the Israeli Ministry of Defense. This measure follows emerging evidence supporting claims by The Guardian that elements of Israel’s surveillance practices may have leveraged Microsoft’s technology, particularly relating to Azure storage capacity in the Netherlands and the use of artificial intelligence services.

Strategic Decision Under Ethical Scrutiny

In a statement communicated via email, Microsoft President Brad Smith confirmed that the company’s internal review has validated aspects of the report regarding the Israeli Defense Forces’ Unit 8200. This move underscores the company’s commitment to aligning its technological offerings with its ethical standards, even as pressures mount from within its own ranks.

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Investigative Findings and Operational Implications

Microsoft’s decision comes on the heels of a report indicating that Unit 8200 may have developed systems to monitor Palestinians’ phone calls. While the specifics of the services discontinued were not disclosed, Smith noted that evidence related to the consumption of Azure storage and the use of AI functionalities was particularly compelling. This proactive step highlights the growing importance of ethical considerations in the deployment of advanced technologies in sensitive international contexts.

Internal Dissent and Corporate Accountability

The decision has been accompanied by notable internal dissent. In recent weeks, Microsoft faced employee protests over the company’s involvement in providing software used during contentious military activities. The discontent culminated in the dismissal of five protesting employees, a move that reflects the turbulent balance between corporate strategy and employee-led accountability.

Geopolitical Ramifications and Industry Response

This development emerges amid heightened scrutiny of Israel’s actions in Gaza, with a United Nations commission recently alleging genocidal practices in the region. As global opinion intensifies, Microsoft’s actions not only signal a pivot in its corporate policy but also illustrate the broader industry challenge of reconciling technological innovation with ethical responsibility. Notably, as the Israeli military reportedly looked to migrate its operations to Amazon Web Services, the competitive dynamics among leading global tech firms come into sharp focus.

By acting decisively in the face of ethical dilemmas and employee demands, Microsoft is setting a precedent for how technology companies might navigate the fraught intersection of innovation, geopolitical conflict, and corporate accountability.

Surplus Surpasses Projections

Greece has reported a state budget surplus of €1.96 billion for the January–August 2025 period, a significant departure from the projected €1.38 billion deficit. This robust performance also improves upon the €1.04 billion surplus recorded during the corresponding period in 2024.

Robust Primary Balance Performance

The nation’s primary balance, calculated on a modified cash basis, reached a surplus of €8.50 billion—well above the target of €4.93 billion and surpassing the previous period’s €7.57 billion. Factoring in the timing adjustments for transfer payments of €1.90 billion and defense programme payments of €540 million, which do not impact the general government outcome on a fiscal basis, the primary balance exceeded expectations by an estimated €793 million.

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Stronger Than Anticipated Revenues

Total net revenues for January–August 2025 climbed to €48.46 billion, marginally above budget expectations by €184 million (0.4%). Notably, tax revenues reached €46.52 billion, a 4.6% surplus in collection largely driven by higher-than-expected income taxes, VAT, and excise duties. VAT receipts totaled €18.19 billion, excise duties €4.86 billion, while property and income taxes contributed €1.98 billion and €17.31 billion respectively, with personal income taxes exceeding targets by €828 million.

Expenditure And Investment Insights

State budget expenditure for the period amounted to €46.49 billion, marking a reduction of €3.16 billion from budget targets, though €2.41 billion higher than the same period last year. Key allocations included €897 million for hospitals and healthcare, €400 million for universal electricity service costs, and substantial investments in transport services and higher education.

Public investment payments reached €7.04 billion, showing an increase of €491 million over the previous year despite being slightly below target figures.

Conclusion

The Greek government’s fiscal performance during this period underscores a disciplined approach to budget management, with revenue collections and primary balance performance exceeding expectations. This achievement not only highlights sound fiscal policies but also reinforces market confidence as Greece navigates its economic strategy amidst evolving fiscal challenges and opportunities.