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Global oil prices have climbed following renewed delays in planned second-round peace negotiations between the United States and Iran, as geopolitical tensions continue to strain global energy markets and raise concerns over supply disruptions. Benchmark crude, Brent, increased by almost 2% to $107.26 (£79.25) per barrel, while US West Texas Intermediate (WTI) rose by around 1% to $95.40. The price movement comes after US President Donald Trump stated on Saturday that Washing

Consumer prices in the United Kingdom rose at a faster pace in March, with annual inflation climbing to 3.3% from 3% the previous month, as escalating conflict in Iran triggered a sharp increase in energy costs. The latest figures from the Office for National Statistics matched expectations but have led markets to rethink the likelihood of an imminent interest rate cut by the Bank of England, which now appears increasingly unlikely. The rise in inflation was driven primar

Cyprus emerged as one of the strongest fiscal performers in the European Union in 2025, according to data released by Eurostat, achieving a budget surplus at a time when most member states continued to run deficits. The figures indicate that Cyprus was among a small group of countries to record a government surplus, reaching 3.4 per cent of GDP. It joined Denmark at 2.9 per cent, Ireland at 1.8 per cent, Greece at 1.7 per cent and Portugal at 0.7 per cent, standing in clear c

China’s economy expanded more rapidly than analysts had predicted in the first quarter of the year, even as the global economy grappled with the fallout from the ongoing US-Israel war with Iran. Official figures show that gross domestic product (GDP) increased by 5% compared to the same period last year, exceeding economists’ expectations of around 4.8%. The stronger-than-anticipated performance comes despite significant disruption caused by the Middle East conflict, whic

The European Union Intellectual Property Office (EUIPO) has released a comprehensive report assessing the role of intellectual property as a mechanism for financing innovative enterprises across Europe, arguing that the region is significantly underutilising one of its most valuable economic assets. The study, titled intellectual property-backed financing in Europe, concludes that although the European Union remains strong in research capacity, innovation output, and entrepre

The Bank of Cyprus announced on Wednesday that its board of directors has formally approved the annual financial report for the year ending December 31, 2025, reaffirming a year marked by solid profitability, sustained lending expansion and a strong capital base. The report incorporates the audited financial statements of the Bank of Cyprus Group, which includes the holding company, Bank of Cyprus Public Company Limited and its subsidiaries. The full annual financial report h

ENI and Egypt have revealed a substantial natural gas discovery in the Eastern Mediterranean, a development that could provide much-needed relief for Cairo and potentially support energy supplies in Europe as the ongoing Iran war continues to drive up import costs. The Italian energy group confirmed the find in a statement on Tuesday, highlighting its significance at a time when energy markets remain under intense pressure. Initial estimates suggest the Temsah field, located

Global oil prices experienced a sharp decline and stock markets surged following the announcement of a conditional two-week ceasefire deal between the United States and Iran, which includes the reopening of the strategically vital Strait of Hormuz. Benchmark Brent crude fell approximately 13% to $94.80 (£70.73) per barrel, while US-traded oil dropped more than 15% to $95.75 per barrel. Despite the retreat, prices remain significantly above pre-conflict levels; on 28 February,

Inflation expectations across the eurozone could accelerate more rapidly than in previous periods, and the European Central Bank must be prepared to respond decisively with interest rate increases if sustained price pressures begin to take hold, policymaker Dimitar Radev has cautioned. The surge in energy prices driven by the ongoing Iran war has already pushed inflation well beyond the ECB’s 2 percent target, prompting internal debate over whether tighter monetary policy is

Cyprus registered a further drop in unemployment in February 2026, even as joblessness across the euro area edged higher on a monthly basis, according to newly released data from Eurostat. The figures showed that Cyprus’ unemployment rate fell to 4.20 per cent in February 2026, compared with 4.50 per cent in the same month a year earlier, highlighting continued strengthening in the country’s labour market. In absolute terms, the number of unemployed individuals declined to

Cyprus continues to rank near the bottom among European Union member states in terms of road freight transport share in 2024, underlining the country’s ongoing dependence on maritime logistics. Data released by Eurostat shows that Cyprus recorded a road freight share of 3.5 per cent in 2024, reflecting a modest rise from 3.4 per cent in 2023 and 2.7 per cent in 2022. Despite this incremental growth, the country still placed third from the lowest within the EU, excluding Malta

The European Commission has unveiled its proposal for EU Inc., a new unified corporate framework intended to serve as the foundation for the EU’s 28th company law regime. The initiative introduces an optional, digital-by-default European corporate structure aimed at making it easier for businesses to start, operate, and expand across the EU. According to the Commission, the proposal is designed to encourage companies to remain in Europe while attracting businesses that might

Bank of Cyprus has reached an agreement with Cyprus Development Bank for the acquisition of a portfolio comprising performing loans, deposits, and other assets and liabilities, with the transaction reportedly taking place at a price close to the nominal value of the assets. Under the terms of the agreement, the portfolio includes performing loans of approximately €150 million and deposits of roughly €500 million, based on a reference date of December 31, 2025. The move forms

National Bank of Greece has announced the successful completion of the Etalia B transaction, involving the sale of non-performing exposures. The deal concerns a portfolio of non-performing loans with €0.1 billion in outstanding principal, representing a further step in the bank’s ongoing efforts to streamline its balance sheet. The portfolio was transferred to Creditable Opportunities Fund SCA SICAV-RAIF, an acquisition vehicle affiliated with the EOS Group, while management

Bank of Cyprus has confirmed the schedule for reviewing its audited financial statements for the year ending December 31, 2025, alongside publishing an updated financial calendar for 2026 that outlines key reporting and shareholder-related dates. The bank stated that its board of directors will meet on March 30, 2026, to assess the audited financial statements of the Bank of Cyprus Group, marking a critical step ahead of the official disclosure of results. According to the an

The European Securities and Markets Authority (ESMA) has issued its first risk monitoring report of 2026, cautioning that European Union financial markets remain exposed to high levels of systemic stress and potential price swings, despite resilient market performance in the latter half of 2025. The report underlined that strong recent market returns have not eliminated underlying structural vulnerabilities across the EU’s financial system. ESMA noted that its risk assessment

High concentration in banking markets delays the speed at which central bank interest rate changes reach consumers and businesses, according to a study released by the Central Bank of Cyprus (CBC) on Tuesday. The study, authored by Aris Avgousti and Stephani Michael of the centre for strategy and policy production, revealed that banking concentration and monetary policy transmission remain intrinsically linked, with more concentrated markets exhibiting a weaker and slower pas

In the aftermath of Iranian missile and drone strikes targeting Dubai last week, concerns among investors have intensified, prompting some wealthy residents to move funds out of the emirate as geopolitical tensions escalate. Two Indian entrepreneurs living in Dubai attempted to transfer more than $100,000 each from their local bank accounts to Singapore shortly after the attacks, seeking to reduce their exposure to potential instability. Their efforts initially ran into d

The Cyprus Statistical Service (Cystat) has reported that Cyprus’s services and transport sectors experienced broad-based growth during the final quarter of 2025. According to the data, the Turnover Value Index for the fourth quarter showed a 9.5 per cent increase in the accommodation and food service activities sector compared with the same period in 2024. Real estate activities also recorded an upward trajectory, with growth of 5.7 per cent during the three-month period, wh

One in three people and more than half of businesses in Cyprus have been targeted by cyberattacks over the past year, according to two nationwide surveys carried out by the Communications Commissioner and the Digital Security Authority, highlighting growing digital threats across the country. The findings showed that 33 per cent of individuals experienced a cyberattack within the last 12 months, while nearly half of companies reported at least one security breach during the