Breaking news

Cyprus Takes Bold Step Towards Cancer Care With New €10M Pediatric Oncology Clinic

by THEFUTURE.TEAM

In a transformative leap for children’s healthcare, Cyprus is set to break ground on a new Pediatric Oncology Clinic in Nicosia, following the signing of a €10 million agreement at the Presidential Palace. The clinic, backed by the Cleanthous Foundation, promises to elevate the island’s cancer care to international standards, offering hope and advanced treatment for young patients battling cancer and hematological diseases.

President Nikos Christodoulides, who attended the agreement ceremony, hailed the project as an “investment in life, hope, and the future.” The deal was officially sealed by Health Minister Michalis Damianos, State Health Services Organisation (Okypy) President Marinos Kallis, and Maria Charalambidou, the President of the Cleanthous Foundation. The new clinic will be strategically located on state-owned land near Makarios Hospital, with Okypy overseeing its management once completed.

This initiative is poised to make Cyprus a regional leader in pediatric cancer care. As President Christodoulides noted, with the Cleanthous Foundation’s contribution, the island could become a vital hub for the treatment of childhood cancer, extending its influence far beyond its borders. The foundation’s commitment, he emphasized, is a gift not only to Cyprus but to the entire region.

Maria Charalambidou, in her address, shared the foundation’s vision of not only providing top-tier medical treatment but also fostering a nurturing environment where children can continue to learn and grow. The clinic’s design includes dedicated research spaces, reflecting the foundation’s aim to enhance Cyprus’ role in childhood cancer research.

Okypy’s Marinos Kallis also provided important context, revealing that approximately 42 new cases of childhood cancer are diagnosed each year in Cyprus. Alarmingly, there has been a notable increase in thyroid cancer among adolescents, particularly girls aged 15 to 19. However, the good news is that the cure rate for childhood cancers in Cyprus stands at an impressive 100%.

This €10 million project is more than just a clinic—it symbolizes hope, innovation, and compassion for the youngest patients facing their toughest battles.

ECB Raises Deposit Facility Rate For First Time In Nearly Two Years

by THEFUTURE.TEAM

Economic Shift: ECB Reverses Years Of Declining Rates

The European Central Bank (ECB) confirmed its first interest rate increase in nearly two years, raising the deposit facility rate in response to inflationary pressures and geopolitical uncertainty. Marking a shift in monetary policy, the move follows a period of rate cuts aimed at supporting economic activity and easing financing conditions.

Reevaluation Of Bank Liquidity Strategies

Although the immediate impact will be felt by only part of the borrowing market, the decision carries broader implications for banks. During the period of lower rates, banks maintained significant amounts of excess liquidity with the ECB as returns on these funds declined alongside deposit rates. With the deposit facility rate increasing by 0.25 percentage points to 2.25% from 2.00%, returns on surplus liquidity are expected to improve.

Higher interest rates, however, could also increase borrowing costs and influence lending conditions across the banking sector.

Transitioning Investment Approaches And Market Dynamics

Banks had already begun diversifying the use of excess liquidity through investments in bonds and by expanding lending activities.

Successive reductions in the deposit facility rate from 3.00% at the end of 2024 through four consecutive cuts in early 2025 reflected a more accommodative policy stance as inflation pressures moderated.

Sectoral Impact And Future Outlook

Data from the ECB’s 2025 monetary policy report show that liquidity in the Cypriot banking system declined from €19.2 billion at the end of 2024 to €18.6 billion by the close of 2025. Despite the reduction, liquidity levels remained elevated. Outstanding loans increased from €27.6 billion to €31.7 billion, while deposits recorded a slight decline. Customer deposits continued to account for the vast majority of funding. By the fourth quarter of 2025, they represented 95% of total liabilities, highlighting their importance as the banking sector’s primary source of financing.

Changes in ECB rates are expected to influence how banks manage liquidity and allocate capital as monetary conditions evolve.

The Future Forbes Realty Global Properties
Aretilaw firm
Uol
eCredo

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter