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Cyprus: Harnessing €1.8 Billion EU Funds for Ambitious Development by 2029

Cyprus has embarked on an ambitious journey with the THALIA 2021-2027 programme, securing a record €1.8 billion, the largest since joining the EU in 2004.

With the European Commission’s approval in July 2022, €969 million in EU funds will complement the rest from Cyprus’ national budget. Already, €600 million has been put to work in over 100 projects, either completed or in progress.

Projections are promising with a potential 6% GDP boost and 8,500 new jobs by 2029, concentrating on green, digital, local development, job creation, and social inclusion initiatives.

Building on the momentum from the 2014-2020 period, Cyprus led the EU in fund absorption, channeling €880 million for public investment, fueling 24,000 jobs and 6% GDP growth.

In Nicosia, projects have revitalized Eleftheria Square, upgraded Aglantzia Avenue, and restored the Municipal Theatre. Larnaca has seen new municipal markets and cultural spaces.

Paphos projects include the Ibrahim Khan restoration and Kennedy Square upgrades. Limassol focuses on port enhancements.

Key undertakings include the Stelios Ioannou Library and the Green Points network across Cyprus. Future THALIA projects aim at energy efficiency, local growth, youth entrepreneurship, and social inclusion.

With 160 projects expected by 2029, Cyprus is set to make a transformative leap forward.

Ultrahuman Unveils Ring Pro As Smart Ring Competition Intensifies In The U.S.

Ultrahuman, the Bengaluru-based leader in wearable technology, has unveiled its third-generation smart ring, the Ring Pro, marking a significant step in the company’s efforts to reestablish its U.S. presence. With an extended battery life of up to 15 days and a completely redesigned form factor, the Ring Pro arrives as a strategic response following last year’s patent dispute with rival Oura.

New Design And Extended Battery Life

Ring Pro introduces a redesigned form factor alongside a dual-core processor and upgraded heart-rate sensing architecture aimed at improving data accuracy. The device is slightly heavier than its predecessor but offers enhanced on-device computing and the ability to store up to 250 days of health data. Priced at $479, the ring delivers up to 15 days of battery life, a notable increase compared to the four to six days offered by the Ring Air.

Overcoming Regulatory And Patent Hurdles

Ultrahuman’s U.S. operations faced disruption in October 2025 after the U.S. International Trade Commission ruled in favor of Oura in a patent dispute, restricting imports of new inventory. Existing stock remained available, but the decision pushed the company to redesign the product and reassess its U.S. strategy. The market remains critical for Ultrahuman, with American users accounting for roughly 45% of its 700,000 daily active users.

Introducing Jade: Real-Time Biointelligence

Alongside Ring Pro, Ultrahuman launched Jade, a real-time biointelligence system designed to provide actionable health insights instead of retrospective data summaries. According to co-founder and CEO Mohit Kumar, the system focuses on continuous analysis and real-time recommendations. Jade is available across the company’s ecosystem, including older ring models, reinforcing Ultrahuman’s AI-driven approach to wearable health monitoring.

Robust Financials And Expanding Market Influence

Despite legal and operational challenges, Ultrahuman continues to show strong financial performance. The company reports an annualized revenue run rate of approximately $150 million and operating revenue of $64 million for the fiscal year ending March 2025. Subscription services and additional offerings, including coaching programs and continuous glucose monitoring, continue to diversify revenue streams and support profitability.

Expanding Production And Global Reach

Ultrahuman is expanding production capacity as demand grows across international markets, including the UK, Canada, Australia, and India. Industry analysts note that the future of smart rings will depend on sensor precision, AI integration, and ecosystem connectivity — areas where Ultrahuman is actively investing.

With the launch of Ring Pro and the introduction of Jade, the company is aiming to strengthen its position in the fast-growing wearable technology sector while rebuilding momentum in key global markets.

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