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Cyprus Imposes Livestock Lockdown As Contagious Animal Fever Spreads

by THEFUTURE.TEAM

Swift Government Intervention

Cyprus’ Veterinary Services under the Ministry of Agriculture have imposed emergency restrictions on livestock operations across the island following the detection of a highly contagious animal fever. The measures, published in the Official Gazette, are aimed at containing the outbreak and limiting economic losses to the livestock sector.

Comprehensive Movement Restrictions

Under directives issued by Christodoulos Pipis, Director of Veterinary Services, strict controls were introduced under the Animal Health Laws (2001–2023). The measures apply nationwide and include:

  • A ban on the movement of cattle, pigs, sheep, and goats to and from farms.

  • Suspension of grazing activities in open fields.

  • Restrictions on transporting animal feed, pharmaceuticals, and equipment, as well as limits on personnel access to farms.

  • A prohibition on recreational or educational visits, with access limited to essential animal care only.

Exceptions And Strategic Response Measures

To prevent disruption to essential supply chains, limited exemptions may be granted for:

  • Transporting animals directly to slaughterhouses.

  • Delivery of feed and veterinary supplies by approved operators.

  • Water supply required for animal welfare.

Although the disease does not pose a direct threat to human health, authorities have implemented strict containment protocols. Animals in affected units may be culled regardless of symptoms to prevent further spread and protect meat and dairy production.

Escalation And Implications For The Sector

The outbreak intensified between February 19 and 22, when 11 livestock units in Livadia, Oroklini, Troulloi, and Aradippou reported infections. Approximately 13,920 animals were considered at risk, prompting an initial compensation package estimated at €4.5 million for affected farmers. Reported cases include five units in Oroklini, four in Livadia, and one each in Aradippou and Troulloi, highlighting the concentration of infections in the Larnaca district.

Vaccination Drive And Future Outlook

Authorities have launched a large-scale vaccination campaign aimed at creating an “immunity barrier” around affected zones. The plan covers approximately 170,801 animals. So far, around 9,000 cattle within a 3-kilometer protection zone have been vaccinated. Within the broader 10-kilometer surveillance area, authorities plan to vaccinate 25,613 cattle, 97,021 sheep and goats, and 48,167 pigs. A shipment of 50,000 vaccine doses for small ruminants has already been distributed to veterinary clinics following an earlier delivery of 10,000 doses. An additional 529,000 doses supplied by the European Union are expected to arrive shortly.

Regional Enforcements And Economic Safeguards

The Larnaca district remains under the strictest controls, with 21 disinfection points and multiple police checkpoints monitoring compliance. Senior Veterinary Officer Sotiria Georgiadou emphasized that biosecurity protocols must be followed rigorously to prevent further spread.

Transparency and Market Resilience

Authorities are also investigating possible underreporting in Oroklini after laboratory analysis indicated the virus may have been present weeks before official confirmation. While Cyprus has temporarily lost its disease-free status with the World Organisation for Animal Health (WOAH), officials maintain that processed products such as halloumi remain safe for export due to heat treatment procedures that neutralize the virus. Restrictions primarily affect raw animal products.

Detailed Case Data

The authorities have provided a snapshot of the outbreak data:

Date Region Animal Units Cases
19/2 Livadia 260 Cows 5 Cases
20/2 Oroklinis 1,380 Sheep 14 Cases
20/2 Oroklinis 1,940 Sheep 12 Cases
21/2 Livadia 98 Sheep 7 Cases
21/2 Livadia 1,076 Sheep 7 Cases
21/2 Livadia 251 Sheep 24 Cases
22/2 Oroklinis 1,876 Sheep 13 Cases
22/2 Oroklinis 2,144 Sheep 15 Cases
22/2 Oroklinis 989 Sheep 13 Cases
22/2 Troulloi 939 Sheep No Reported Cases
22/2 Aradippou 2,972 Sheep No Reported Cases

Bank of Cyprus Upgrade Signals Fresh Optimism For Greek And Cypriot Banks

by THEFUTURE.TEAM

Regional Banks Enter A More Favorable Cycle

Bank of Cyprus and Eurobank are well positioned to benefit from a renewed re-rating of Greek and Cypriot bank stocks, according to Cyprus-based investment firm Roemer Capital, which upgraded Bank of Cyprus to a buy rating and reaffirmed its positive view on Eurobank.

The firm cited easing geopolitical tensions, resilient economic growth in Greece and Cyprus, lower funding costs and Greece’s expected transition to developed-market status as the main factors supporting the sector.

Roemer Capital also lowered its cost of equity assumptions, updated its forecasts following first-quarter 2026 results and extended its valuation horizon to the end of 2027, raising target prices across its banking coverage.

Bank Of Cyprus Gets The Largest Upgrade

Bank of Cyprus received the biggest revision, with Roemer Capital upgrading the stock from hold to buy and setting a target price of €11.10, implying potential total upside of 27%.

The firm highlighted the bank’s strong capital generation, profitability and projected 100% dividend payout, describing it as the strongest capital-return story among the banks under coverage. Roemer Capital maintained its buy rating on Eurobank, assigning a target price of €4.90 and forecasting potential upside of 28%. The report said the bank is well placed to benefit from loan growth, improving operating performance and merger-and-acquisition synergies.

National Bank of Greece and Piraeus Bank also retained buy ratings, with expected returns ranging from 25% to 36%. Optima Bank was upgraded to buy, while Alpha Bank remained at hold on valuation grounds.

Why Growth Still Sets The Region Apart

According to Roemer Capital, Greek and Cypriot banks continue to benefit from stronger economic fundamentals than many western European peers. The report pointed to faster economic growth, healthier balance sheets, low levels of non-performing exposures, capital ratios approaching 20% and strong customer deposit bases.

Analysts expect performing loans across the sector to grow at a compound annual rate of 6% to 8% through 2028, supported by private investment, digitalisation, green manufacturing, supply-chain expansion and a gradual recovery in household lending.

The report also said the conclusion of lending under the EU Recovery and Resilience Facility is unlikely to materially affect credit growth, as banks have already shifted back towards traditional commercial lending. Roemer Capital expects Euribor to remain between 2.2% and 2.5%, a level it believes should support both lending activity and net interest margins.

Geopolitics, Valuation And Market Structure Support The Case

The report said improving geopolitical conditions have strengthened the investment outlook, noting that Brent crude prices have largely returned to pre-war levels while Greek government bond yields have stabilised at around 3.5%. Although geopolitical risks remain, Roemer Capital believes the likelihood of a major inflationary shock or significant pressure on bank profitability has eased.

Another important catalyst identified by the firm is Greece’s expected promotion to developed-market status by FTSE Russell, STOXX and MSCI over the coming months.

According to the report, the reclassification should improve liquidity and attract a broader base of international investors. Roemer Capital also said Euronext’s acquisition of the Athens Exchange is expected to strengthen market infrastructure and increase international visibility, particularly for Bank of Cyprus and Optima Bank.

The firm noted that Bank of Cyprus has already benefited from its Athens listing, with average daily trading value increasing from less than €400,000 before its September 2024 move to nearly €6 million afterwards.

Economic Momentum Remains A Core Tailwind

Roemer Capital said both Greece and Cyprus have moved beyond post-crisis recovery and are now supported by private-sector-led growth. For Cyprus, the report highlighted recent tax reform and efforts to simplify the legal and regulatory framework, while also noting that limited foreign banking competition continues to support domestic lenders.

Overall, Roemer Capital expects Greek and Cypriot banks to remain well-positioned for profitable loan growth over the coming years.

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