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Electric Mobility Accelerates In Troodos With Pioneering Infrastructure Upgrade

Strategic Deployment Transforms Regional Accessibility

Electric mobility is taking a decisive turn in the Troodos region with the planned installation of 58 charging stations across 57 communities. This initiative, spearheaded by a tender from the Institute for Research and Development of Mediterranean Mountainous Areas, marks a significant advance in both local accessibility and sustainable transportation. Though the tender process briefly encountered legal challenges, the appeal was subsequently withdrawn, allowing progress to resume unimpeded.

Comprehensive Project Scope and Government Backing

The initiative encompasses not only the procurement and installation of charging infrastructure but also incorporates technical support and software management, including user training. In line with government ambitions, there is also a forthcoming plan to deploy 1,000 additional charging points across the region. Financial incentives under this scheme are available to public authorities, private enterprises, and other local entities for installations in public parking areas, municipal spaces, as well as designated private sites, including fuel stations. The project is slated to be executed in two phases with a total budget of €3.7 million.

Market Dynamics and Emerging Trends

Analysis of recent registration data underscores the evolving landscape of vehicle electrification. Between 2020 and 2024, the proportion of electric vehicles remained modest, with less than 1% of total vehicle registrations in early years. However, data indicates an upward trend: in 2023, electric vehicles surpassed 1,000 registrations, accounting for 2.9% of total vehicles, a figure that reached 4.5% in 2024. Similar patterns are observed in the passenger car segment and among motorcycles, where electric models have seen rapidly increasing adoption.

Implications for Regional Development

The deployment of charging stations across Troodos not only facilitates local access to electric vehicle technology but also supports long-distance travelers needing reliable charging facilities. This infrastructure upgrade is a critical component of regional development strategies, reinforcing both the environmental and economic benefits of transitioning to cleaner energy solutions. As local governments and businesses embrace these initiatives, the region is set on a path towards sustainable growth, offering a model for communities worldwide.

Bank Of Cyprus Named Cyprus’ Best Digital Bank By Euromoney

Bank of Cyprus has been named Cyprus’ Best Digital Bank at the Euromoney Awards for Excellence 2026, recognising the lender’s digital banking developments during the review period from January 1 to December 31, 2025.

Digital Banking Expansion

During the year, the bank integrated Fleksy, Cyprus’ first buy now, pay later service, into its digital banking platform. It also expanded Joey, its youth banking app, by adding savings and goal-setting features and enabling transfers between Joey accounts.

Bank of Cyprus also extended QuickAccount to support sterling and US dollar accounts. In addition, it launched what it said was Cyprus’ first fully digital housing loan, expanding its digital offering beyond day-to-day banking services.

The bank said it now has more than 500,000 active digital users.

Focus On Customer Access

“Enabling our customers to access the financial products and services they need with ease at any time is at the core of our digital strategy,” Chief Digital Officer Demetris Nicolaou said. “It is an honour for the bank to be named the winner of Cyprus’ Best Digital Bank at the Euromoney Awards for Excellence 2026.”

The recognition follows the Euromoney Private Banking Awards 2026, where Bank of Cyprus retained its titles as Best Private Bank in Cyprus and Best for High-Net-Worth Individuals in Cyprus for a second consecutive year.

Wealth Management Growth

Euromoney also cited growth in advisory services, digital initiatives and a 36% increase in assets under management during the review period as factors supporting the bank’s private banking awards.

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