Breaking news

Securing Water: Israel And Cyprus Forge A Resilient Partnership In A Changing Climate

Water security stands among the most critical areas in managing natural resources and maintaining national safety. Danny Lacker, head of the Water Security, Emergency Preparedness, and Cybersecurity Directorate at Israel’s Water Authority, recently addressed the modern challenges, threats, and collaborative opportunities between Israel and Cyprus. Speaking at an event hosted at the Kebe Center in partnership with the Cyprus-Israel Business Association and the Israeli Embassy, Mr. Lacker showcased Israel’s innovative practices in water management and crisis response, all aimed at ensuring a safe and sustainable water supply.

Modern Challenges And Evolving Threats

According to Mr. Lacker, both Israel and Cyprus face common natural threats such as earthquakes and tsunamis—a risk enhanced by their distinctive geological settings along the Syrian–African Rift and the impacts of climate change. Coupled with these are significant geopolitical pressures, notably cyber attacks orchestrated by hostile entities. Israel’s experience, including numerous cyber breaches aimed at undermining water infrastructure, underscores the multifaceted nature of today’s water security challenges.

Integrating Cybersecurity With Critical Infrastructure

In Mr. Lacker’s view, cybersecurity is not a peripheral issue but an integral element of water security. Whether a system faces a natural disaster, physical sabotage, or a digital breach, the primary objective remains the uninterrupted provision of safe water and the functional integrity of sewage systems. Israel’s approach involves comprehensive scenario planning, prevention strategies, and robust response mechanisms that are critical in mitigating both tangible and digital risks.

Lessons From International Crisis Response

A testament to Israel’s commitment to water security is its international humanitarian effort. In 2020, Israel dispatched a rapid response team and desalination equipment to the Grand Bahama Island after severe flooding compromised local water supplies. This coordinated operation not only provided immediate relief but also empowered local technicians with the skills and tools necessary for long-term resilience. Such experiences highlight the value of proactive planning and international cooperation.

Cross-Border Collaboration And Shared Expertise

Given their proximity—only a 45-minute flight apart—both nations benefit from sharing similar challenges and systems. Mr. Lacker emphasizes that strategic collaboration, such as joint training exercises and the exchange of technical know-how, is essential. By understanding and learning from each other’s water management practices, both countries can rapidly respond to crises, ensuring that their communities remain protected against unforeseen disruptions.

The Role Of Technology And Innovation

Modern water systems are underpinned by advanced control technologies and information systems that are in constant evolution. Staying ahead requires continuous updates and daily monitoring of emerging threats. In his remarks, Mr. Lacker pointed out that solutions effective today might be inadequate tomorrow. He advocates for expanded cooperation with both government bodies and the private sector—not just within Israel but also extending to Cyprus—to deliver sustainable and innovative water security solutions.

Preparing For An Uncertain Future

Planning for future scenarios such as climate change, drought, and escalating cyber threats demands forward-thinking and investment in redundancy. Mr. Lacker warns that without adequate preparedness, even minor breaches can lead to significant operational failures. The emphasis is on disciplined training, stringent protocol adherence, and the adoption of innovative defenses to safeguard water infrastructure effectively.

A Call To Action For Policy Makers And Business Leaders

In his concluding remarks, Mr. Lacker urged policy makers and business executives in Cyprus to heighten their awareness of the growing cyber risks and the broader challenges facing water security. He stressed that false information or even minor disruptions have the potential to trigger widespread panic. Embracing coordinated planning, technological upgrades, and robust policy frameworks is imperative for securing a future where everyone enjoys consistent access to safe water.

Looking Ahead: A Stronger, United Future

Reflecting on his visit to Cyprus, Mr. Lacker noted the operational and geographical closeness between the two nations. While differences exist in the structures of their respective water systems, the common challenges demand a united approach through shared exercises, technology transfers, and continuous dialogue. In his own words, much like borrowing sugar from a neighbor in times of need, deeper collaboration between Israel and Cyprus promises to yield better ideas and more effective, sustainable solutions for water security in the region.

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

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.

Aretilaw firm
eCredo
The Future Forbes Realty Global Properties
Uol

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter