Trump and Saudi Arabia Sign Landmark $142 Billion Defense Agreement

by News Editor

May 14, 2025

In an unprecedented move, former US President Donald Trump, alongside Saudi Crown Prince Mohammed bin Salman, has brokered a monumental $142 billion deal aimed at enhancing Saudi Arabia’s defense systems. This agreement, hailed as the most extensive arms sale in history, reiterates the strong economic ties between the two nations.

The White House emphasized the significance of this deal, calling it a strategic economic partnership that involves the procurement of cutting-edge military equipment and services from over a dozen American defense companies. This collaboration aims to upgrade Saudi Arabia’s military capabilities across various domains, such as:

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Advanced Aerospace and Space Technologies
Comprehensive Air and Missile Defense Systems
Cohesive Naval and Coastal Security
Enhanced Border Security
Modernized Land Forces

Apart from military equipment, the deal also includes extensive training support to elevate the proficiency of the Saudi armed forces, enhancing military academies and medical services. Notably, this partnership aligns well with Trump’s broader diplomatic objectives across the Middle East, as he embarks on a tour that includes Qatar and the UAE, seeking investment opportunities and strategic alliances.

These developments could impact markets far beyond the defense sector. For instance, there’s a remarkable rise in startups looking to capitalize on new technological advancements, much like how the US tech company Tenstorrent is expanding into Cyprus, reflecting a growing trend of cross-border tech collaborations.

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Eurobank Wins Two Euromoney Awards Following Cyprus Merger

by THEFUTURE.TEAM

July 17, 2026

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

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Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

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