Breaking news

Cyprus Government Launches Online Compensation Portal For Bank Bail-In Victims

by THEFUTURE.TEAM

June 20, 2025

The government has officially unveiled an online platform designed to facilitate partial compensation for losses incurred during the 2013 bank bail-in. The initiative targets uninsured savings beyond €100,000 and addresses losses suffered by bondholders of legacy Laiki (Popular) Bank and Bank of Cyprus.

Digital Platform Live For Submission

The platform is now operational, accepting applications from December 20, 2023, through May 25, 2024, and will remain accessible until September 30 this year. Users can log in using their existing credentials from the CY Login (formerly Ariadne) system to begin the application process.

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Structured Verification And Disbursement Process

Upon submission, each application will undergo a thorough verification process. Successful applicants will receive an email detailing the compensation amount they are eligible for and will then be required to provide their IBAN for direct bank transfer. It is imperative that the bank account provided is either individually owned or a joint account.

Compensation Caps And Policy Framework

For fiscal year disbursements, compensation is capped at €100,000 per individual. Specific compensation limits are set based on the institution: legacy Laiki (Popular) Bank savers and male bondholders from Laiki can receive up to €100,000, whereas Bank of Cyprus savers and bondholders have caps of €13,032 and €99,760 respectively. These measures emerge from a 2013 bailout initiative where depositors contributed to the recapitalization of financially strained banks amid Greece’s economic crisis.

Pathway For Further Objections

Applicants who do not receive approval for their initial submissions have the opportunity to file an objection, ensuring that all claims receive further scrutiny. With verified losses estimated at approximately €2 billion, this platform is a critical step towards restoring confidence and providing financial redress for affected depositors and investors.

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YouTube Create Eyes iOS Launch Amid Fierce Competition in Mobile Editing

by THEFUTURE.TEAM

June 29, 2025

Google is set to extend the reach of YouTube Create to iOS devices nearly two years after its exclusive Android debut. The company is actively recruiting engineers in Bengaluru, India, to spearhead the development of this new version, signaling its determination to challenge established video editing platforms.

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Engineers Mobilize for a Strategic iOS Expansion

Job listings reviewed by TechCrunch highlight Google’s focused efforts to bring its mobile video editing tool to iOS. With positions aimed at software engineering in Bengaluru, the initiative marks a pivotal step in broadening YouTube Create’s capabilities beyond its initial U.S. and select international markets.

Meeting Creator Demands With Comprehensive Tools

YouTube Create was designed with creators in mind, offering a suite of free editing tools that include stickers, GIFs, and special effects suited for both YouTube Shorts and longer-form content. Developed after consultations with 3,000 content creators, the app aims to meet the evolving needs of its user base.

Confronting Dominance in a Competitive Market

Despite its thoughtful design, YouTube Create currently lags behind competitors such as CapCut and InShot. Analysis by Sensor Tower underscores the vast gap in both downloads and engagement metrics; while CapCut and InShot have managed tens of millions of downloads and robust user interaction, YouTube Create’s figures remain modest in comparison.

Retention Challenges and Evolving User Engagement

Even as YouTube Create experiences a 28% year-over-year increase in monthly active users—a pace that outstrips the modest gains of its peers—the platform faces significant retention hurdles. With a 90-day retention rate of only 1%, compared to CapCut’s 7% and InShot’s 4%, the app must overcome serious challenges to secure ongoing user loyalty.

Geographic Diversification And Future Market Potential

While India’s share of YouTube Create’s monthly active users has dipped from 67% to 51%, the app is steadily gaining traction in other key markets such as Indonesia, Germany, Brazil, and the U.K. Notably, several regions, including Spain, South Korea, France, and Singapore, have experienced significant year-over-year growth in user engagement.

Google’s venture into the iOS ecosystem is expected to further recalibrate the mobile video editing landscape. However, as the analytics suggest, the battle against dominant competitors is set to require not only technological innovation but a strategic focus on user retention and market diversification.