Cyprus Inflation Eases Slightly To 2.5% In January

by THEFUTURE.TEAM

February 7, 2025

Inflation in Cyprus stood at 2.5% in January, down marginally from 2.6% in December, according to the Cyprus Statistical Service (Cystat). The Consumer Price Index (CPI) dropped by 1.58 points to 116.73, reflecting a slowdown in price growth.

Agricultural Goods saw the most volatility, rising 10% year-on-year but declining 6.1% from December. Food and Non-Alcoholic Beverages increased by 4.8% annually, while Restaurants and Hotels rose by 4.1%. Clothing and Footwear recorded the steepest monthly drop, falling 13%.

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The biggest contributors to annual inflation were Food and Non-Alcoholic Beverages (+1.07) and Transport (+0.56), while Clothing and Footwear (-0.18) exerted downward pressure. Month-on-month, Clothing and Footwear (-1.00) had the most significant deflationary effect.

Catering Services (+0.48), Fresh Vegetables (+0.36), and Meat (+0.24) were key drivers of price increases, while Clothing Items (-0.81) pulled inflation down. Petroleum Products had the largest positive monthly impact (+0.15), while Clothing Items saw the biggest decline (-0.71).

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Visa Selects Seven Startups From Greece, Cyprus And Malta For Fintech Programme

by THEFUTURE.TEAM

May 11, 2026

Visa is setting the pace for financial innovation by selecting seven pioneering fintech startups from Greece, Cyprus, and Malta for the 2026 cycle of its esteemed Visa Innovation Programme Europe. With applications from these markets surging by roughly 50% year-over-year, the initiative underscores the robust growth of regional fintech ecosystems.

Strengthening Digital Payment Infrastructure

Now in its eighth cycle, the programme is strategically recalibrated to empower fintech growth, enhance digital payment solutions, and accelerate innovation across financial services. This year’s focus on artificial intelligence, agentic commerce, B2B solutions, money movement, open finance, and data is intended to unearth scalable solutions capable of transforming the payment landscape.

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Showcasing Diverse Innovation

Following the selection process, startups AgriNow, Better, Cloudigo, Paytic, GYST, Outfindo and Peanuds were chosen to participate in the programme. The selected companies operate across a range of sectors, including AI-powered workforce management, payment infrastructure, consumer finance technology and back-office automation for financial services.

Leveraging Strategic Partnerships

The programme is executed in collaboration with Eleven Ventures and Endeavor Greece, providing selected companies with unparalleled access to Visa’s extensive network of partners, mentors, investors, and clients. This ecosystem enables startups to rigorously test, validate, and accelerate their solutions under real market conditions while integrating emerging technologies within Visa’s global framework.

Insights From Industry Leaders

Sevi Vassileva, General Manager for Visa in Greece, Cyprus, Malta, and Israel, highlighted innovation as the cornerstone of evolving payment systems, stating, “In the eighth cycle of the Visa Innovation Program Europe, we are welcoming for the first time seven dynamic fintechs that bring fresh solutions capable of transforming the financial sector.” Daniel Tomov, founding partner at Eleven Ventures, and Panagiotis Karampinis, Regional Managing Director at Endeavor Europe, also emphasized the increasing sophistication of the regional fintech landscape and the importance of strategic networking in driving industry transformation.

Programme Impact And Future Outlook

Since launching in 2019, the Visa Innovation Programme Europe has expanded across 15 countries and reviewed more than 1,900 startup applications. Nearly 250 fintech companies have reached final evaluation stages, while the programme has facilitated more than 1,500 mentorship hours and over 750 introductions to Visa partners and investors.

The 2026 cycle will run through November before concluding with the Visa Innovation Program Europe Summit, where participating startups will present their progress to industry executives, investors and technology leaders.

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