The European Banking Authority (EBA) this week reported that the EU and EEA banking sector remained robust in the first quarter of 2025, despite higher costs of risk.

Publishing its quarterly Risk Dashboard, the EBA reported that the common equity tier 1 (CET1) ratio for EU and EEA banks stood at 16.2 per cent, unchanged from the previous quarter.

Risk-weighted assets totalled €9.9 trillion, with operational risk now accounting for 12.9 per cent of total risk-weighted assets.

The Chief Scientist, Demetris Skourides has launched a new podcast series aimed at putting people, purpose and innovation at the heart of the artificial intelligence (AI) debate.

Fearless Future, produced at UCLan Cyprus’ media studio and streamed live on LinkedIn, is the first podcast of its kind in Cyprus to be designed for individuals, citizens and organisations around the world.

The first episode, The Future of Work in the Age of AI, brought together Skourides and Philippos Soseilos, CEO and chairman of PwC Cyprus, in a discussion moderated by HR transformation specialist Nicoletta Papakyprianou.

Cyprus hotels will be at their busiest from the following weekend until August 18, with occupancy rates between 90 and 95 per cent, according to Thanos Michaelides, president of the hoteliers association (Pasyxe).

Speaking to the Cyprus News Agency (CNA), Michaelides said that “demand is at its peak but there are still rooms available in all districts, from mountain resorts to coastal areas, for those who have not booked yet”.

After August 18, when many locals return from holidays, occupancy will drop to around 80 per cent for the rest of the month.

The Cyprus Chamber of Commerce and Industry (Keve) this week called on Cypriot businesses to participate in an ongoing European Commission public consultation on the review of EU merger rules, stressing the importance of shaping regulations to reflect the realities of smaller markets.

The consultation concerns the guidelines of Council Regulation (EC) No. 139/2004 on the control of concentrations between undertakings, covering both horizontal and non-horizontal mergers.

The review aims to adapt these guidelines to modern market conditions, taking into account factors such as digitalisation, the green transition, geopolitical developments, and the growing need for resilience and innovation.

Limassol-based BrainRocket is expected to relocate the majority of its operations to Spain, moving almost 1,000 employees, according to both Cypriot daily Politis and information received by the Cyprus Mail.

The Israeli-owned company currently employs about 1,500 people in Cyprus and has operated in Limassol for around a decade.

According to the information shared by the paper, which is aligned with what the Cyprus Mail has also been told, the decision will see its main business cycle move from Cyprus to Valencia, with some operations also shifting to Malta.

The association of Cyprus tourist enterprises (Stek) and Nicosia-based KES College on Tuesday announced that they have renewed their collaboration for another year.

In this context, Stek said that it will offer two scholarships for the 2025–2026 academic year, covering 25 per cent of tuition fees for study in accredited programmes at KES College.

According to the announcement, this aims to “improve access to higher education and support the next generation of tourism professionals“.

Total government employment in Cyprus reached 53,447 persons in July 2025, marking an increase of 408 individuals or 0.8 per cent compared to June 2024, according to the Cyprus Statistical Service (Cystat).

Employment in the civil service fell by 0.5 per cent during this period. Similarly, employment in the security forces decreased by 1.3 per cent.

In contrast, the educational service saw a significant rise in employment of 4.6 per cent.