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Cyprus Granted Five-Year Extension To Comply With PDO Halloumi Specifications

The European Commission has granted Cyprus a five-year extension to comply with the Protected Designation of Origin (PDO) requirements for Halloumi cheese. This follows the expiration of the initial ten-year transition period requested by the Republic of Cyprus on 9 July. The decision, confirmed by the Minister of Agriculture Maria Panayiotou, aims to secure Halloumi’s status as a premier export product while ensuring sustainability across the sector.

Ensuring Compliance and Sustainability

The extension provides Cyprus with the necessary time to fully align its production processes with PDO standards. The Ministry of Agriculture is set to issue a decree on milk quotas, addressing the balance between sheep-goat and cow’s milk in Halloumi production. This decree, to be finalised after stakeholder consultations, aims to enhance compliance while supporting producers.

Economic and Cultural Impact

Halloumi is a significant agri-food export for Cyprus, representing both an economic asset and a cultural heritage. The PDO status not only ensures product authenticity but also strengthens market positioning globally. Maintaining this status is crucial for Cyprus to protect its market share and promote its national brand.

Strategic Objectives

The Cypriot government’s primary objectives during the transition are the protection and promotion of PDO Halloumi. By implementing measures that support both compliance and industry sustainability, Cyprus aims to solidify Halloumi’s reputation as a high-quality product. The Ministry’s forthcoming decree and ongoing consultations are steps towards achieving these goals.

Eurobank Plans €1 Billion Investment In AI And Digital Banking By 2028

Eurobank plans to invest about €1 billion in technology from 2025 through 2028, its largest technology investment program to date. The Banking Forward strategy focuses on digital banking, artificial intelligence, customer experience and a “phygital” model combining digital services with face-to-face support.

Digital Banking Dominates Customer Activity

Digital channels already account for 96% of Eurobank transactions, with 61% completed through the Eurobank Mobile App. Among customers aged 35 and under, digital adoption reaches 94%.

Customers make about 574 million annual logins across e/m-banking and more than 1 million digital transactions each day. During the first half of 2026, one in three banking products was acquired digitally.

AI Moves Into Everyday Banking

Eurobank is expanding the use of AI through tools including EVA, its digital customer assistant, and myEVA, an AI-powered voice assistant for employees. The technology is also being applied to mortgage assessments, customer feedback analysis and contractual documents.

The bank’s technology architecture is built around five areas: digital channels, customer experience orchestration, data and AI, core banking, and infrastructure and cloud. About 50% of its applications and digital channels are already cloud-based.

Investment Extends Beyond Technology

The program is intended to reshape how Eurobank operates, combining automation and AI with employee development and human support. The bank says the approach is designed to improve services while maintaining access to face-to-face banking when customers need it.

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