Robust Annual Growth Highlights Cypriot Retail Trade Resilience

by THEFUTURE.TEAM

February 2, 2026

A recent report by the Cyprus Statistical Service illustrates notable annual growth in Cyprus’ retail sector, excluding motor vehicles, underscoring the sustained dynamism of consumer activity in 2025.

Strong December Performance

In December 2025, the retail trade segment experienced a 5.8% increase in its turnover value index on a year-over-year basis. Simultaneously, the turnover volume index surged by 8.9%, indicating that the expansion in sales volumes outpaced the corresponding rise in monetary value. This performance highlights an invigorated consumer sentiment and market momentum.

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Year-Long Expansion

Throughout the full period from January to December 2025, the retail trade sector recorded a 6.1% increase in the turnover value index compared with the same period in 2024. Meanwhile, the turnover volume index advanced by 7.9% over the year, reinforcing the sustained upward trajectory in consumer spending and retail performance.

Implications For Economic Activity

The differential between value and volume growth suggests heightened consumer engagement, positioning retail trade as a critical barometer for domestic economic activity in Cyprus. This resilient performance bolsters economic confidence and offers encouraging insights for market stakeholders, signaling that consumer demand remains robust amid evolving economic conditions.

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Google Cloud Outage Disrupts Banking And Digital Services Across The UK

by THEFUTURE.TEAM

October 20, 2026

A power outage at a Google Cloud data centre near London disrupted services across the UK on Tuesday, affecting banks, businesses and other digital platforms. Google said the incident was caused by a power event at its cloud operations, with full recovery expected by around 1300 GMT.

The disruption began at 0608 GMT and affected Google Cloud services in the europe-west2 region, which is hosted in London. In an initial update, the company reported elevated error rates and intermittent network failures across multiple services as engineers worked to restore operations.

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Banking Services Hit By The Disruption

Revolut was among the most visibly affected companies, with customers reporting problems with ATM withdrawals, bank transfers and card top-ups. A source close to the matter linked the issues to the Google Cloud outage.

Traditional banks also reported disruptions. Lloyds said some customers were experiencing problems with its app and online banking, while HSBC confirmed difficulties accessing its services. HSBC added that it was monitoring the situation and noted that other organisations were affected as well.

Disruption Spreads Beyond Finance

Downdetector, which tracks online service disruptions, recorded hundreds of reports involving other businesses, including property website Rightmove and the Royal Mail postal service. The reports suggested that the outage was affecting multiple parts of the UK’s digital economy.

The incident highlights the risks facing businesses that depend on shared cloud infrastructure. Even a temporary failure at a single provider can disrupt services across several sectors, from banking and payments to logistics and consumer platforms.

Companies Reassure Customers

Revolut said it had been working to resolve the issue since it was identified and apologised to affected customers. The company also confirmed that customers’ money and data remained safe.

As cloud platforms underpin an increasing share of digital commerce, the outage illustrates how disruptions to critical infrastructure can spread far beyond the provider itself, affecting businesses and customers across the economy.

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