Cyprus Business Chamber Warns Bank Tax Threatens Investor Confidence

by THEFUTURE.TEAM

February 12, 2026

Chamber Issues Stern Warning Against Bank Tax

The Cyprus Chamber of Commerce and Industry (Keve) has issued a forceful statement opposing the proposed imposition of additional taxation on banks. The chamber argues that further levies would be economically unsound and send a negative signal to international investors.

Heavy Tax Burdens And Their Impact

Keve highlighted that banks have already contributed significant tax revenues between 2017 and 2024, reporting €285 million in corporate tax and €470 million in special levies on deposits. This cumulative contribution of €755 million has supplied the state with ample resources to support borrowers and vulnerable groups, rendering any extra tax unnecessary.

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Risks To Financial Stability And Investor Confidence

The chamber stressed that using taxation as a tool of social policy is inappropriate. Targeting banks, which are a key pillar of the economic framework, could undermine the predictability and stability of Cyprus’s tax and institutional environment. In a climate where investor confidence is paramount, such a strategy risks weakening the country’s credibility on the international stage.

Broader Implications For Monetary And Lending Policies

Concerns extend beyond immediate fiscal impacts. The European Central Bank (ECB) has warned that increased taxation based on customer deposits may disrupt the transmission of monetary policy, impacting credit institutions’ ability to maintain appropriate capital buffers and set competitive lending rates. Using Belgian banks as an example, the ECB noted that even well-capitalized institutions might face procyclical pressures, potentially restricting lending to households and firms.

Setting A Precedent With Lasting Consequences

In addition to domestic concerns, Keve cautions that targeting a specific sector could set a dangerous precedent. Diverging from the policy recommendations of the International Monetary Fund and the European Stability Mechanism, such a move distinguishes Cyprus from high-credit rating EU member states like Germany and the Netherlands, which do not impose extraordinary sector-specific charges.

Looking Ahead: Balancing Social Objectives With Economic Stability

While Keve supports well-targeted social support measures, it insists that these initiatives must not compromise financial stability, investor confidence, or Cyprus’s international competitiveness. The chamber further called on all businesses to contribute to society through robust corporate social responsibility programs.

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Copyright Law Struggles To Keep Up With AI Training

by News Editor

August 24, 2026

Courts Are Still Applying Old Copyright Rules To AI

AI companies train models on enormous amounts of published material, including books, articles and academic research. Whether using that content without authors’ permission violates copyright law remains unresolved.

Much of the debate centres on fair use, which allows copyrighted material to be used without permission in certain circumstances. Courts consider factors such as the purpose of the use, how much material was involved and its impact on the original market.

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Anthropic Case Sets An Important Precedent

A major case involving Anthropic and a group of authors provided one of the clearest rulings so far. Judge William Alsup found that using copyrighted books to train AI models was lawful, comparing the process to people reading and studying literature before creating something new.

Anthropic was nevertheless ordered to pay $1.5 billion in a settlement. The penalty concerned books the company had obtained from illegal online libraries rather than the AI training itself.

For AI companies, that distinction could prove significant because it separates studying copyrighted material from directly copying it.

Competition Could Be The Key Issue

A case involving Thomson Reuters and Ross Intelligence offers a different perspective. A court ruled that Ross could not claim fair use after using Reuters’ copyrighted material to develop a competing AI-powered legal research platform.

The decision suggests courts may be less willing to consider AI training fair use when copyrighted content is used to build a product that directly competes with the original.

For authors, an unresolved question is whether AI-generated content should be considered competition for the works used to train these models.

The Law Has Yet To Catch Up

US copyright law predates generative AI by decades, leaving courts to apply old principles to new technology. Questions also remain over copyright protection for AI-generated works. In Thaler v. Perlmutter, a court ruled that material created entirely by AI cannot receive copyright protection.

Major AI companies remain involved in copyright litigation, and different courts could reach different conclusions. For now, there is no universal rule: the legality of AI training will depend on the circumstances of each case and how courts ultimately interpret copyright and fair use.

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