Regulated digital finance can become a new pillar of the Cypriot economy, alongside tourism, shipping and professional services, while creating more skilled jobs on the island, according to Stavros Vassiliades, COO, Executive Director, Payward Europe Digital Solutions (CY) Ltd.

That was one of several issues readers had been raising with us. Some wanted to understand what fintech could mean for Cyprus and how the Cyprus Securities and Exchange Commission (CySEC) fits into the picture, while others were concerned about scams, licences and misconceptions surrounding crypto. Younger readers, meanwhile, wanted practical advice on what to study and the skills needed to enter the industry. Their questions formed the starting point for my conversation with Vassiliades.

Speaking exclusively to the Cyprus Mail, Vassiliades, explained that Kraken is one of the oldest and largest digital asset platforms in the world, founded in 2011. Kraken’s CySEC-regulated Cypriot Investment Firm is at the centre of its European derivatives business, while spot crypto trading in the EU sits under its MiCA hub authorised by the Central Bank of Ireland.

Cyprus and Bahrain signed a new memorandum of understanding (MoU) on maritime cooperation, expanding ties across maritime safety, training, search and rescue and innovation following high-level talks in Manama on Sunday.

The agreement was signed during a bilateral meeting between Shipping Deputy Minister Marina Hadjimanolis and Bahrain’s Minister of Transportation and Telecommunications, Sheikh Abdullah bin Ahmed Al Khalifa.

It covers a broad range of areas, including maritime safety and security, education and training, search and rescue, innovation, as well as the exchange of expertise and best practices.

The two sides also agreed that the signing should be followed by practical steps, including the creation of joint working groups to turn the agreement into specific areas of cooperation.

Hadjimanolis was accompanied at the meeting by Cyprus Chamber of Commerce and Industry (Keve) president Stavros Stavrou and Cyprus’ ambassador to Bahrain, Andreas Eliades.

As part of the visit, Hadjimanolis also toured Khalifa Bin Salman Port, accompanied by Bahrain’s Undersecretary for Ports and Maritime Affairs Bader Hood Al Mahmood and other Bahraini officials.

Cyprus shipping faces another period of uncertainty after four days of negotiations at the International Maritime Organisation (IMO) ended without an agreed new text for the global rules intended to steer international shipping towards net zero.

The 22nd session of the IMO working group, held in London from September 1 to 4, brought together nearly 1,200 participants, both in person and online, as governments attempted to narrow remaining differences over the organisation’s Net-Zero Framework. 

The meeting did not abandon the framework. However, it also failed to resolve the concerns that have prevented its final adoption, leaving some of the most commercially important details for another negotiating round in November.

Eurobank S.A. announced on Monday that it has repurchased a total of 1,179,047 of its own shares for a total cost of €5,440,796.06 as part of its ongoing share buyback programme.

According to filings on both the Cypriot and Greek stock exchanges, the transactions took place between August 31, 2026, and September 4, 2026, on Euronext Athens.

The bank added that it carried out the repurchases through its brokerage member Eurobank Equities Single Member Investment Firm S.A.

Across the five trading days, the bank acquired the shares at a volume-weighted average price of €4.6146 per share.

The share buyback initiative was initially launched following an announcement on June 10, 2026.

Lottery operator Allwyn AG announced on Monday that it has repurchased 645,398 of its own shares for a total consideration of €8,628,043.94.

The transactions were executed on the Euronext Athens stock exchange between August 31, 2026, and September 4, 2026.

The repurchases formed part of the company’s implemented share buyback programme, which was originally announced on June 4, 2026.

Activity began on August 31, 2026, when the company acquired 116,094 shares for an aggregate value of €1,587,550.62, representing an average price of €13.6747 per share.

The Cyprus Securities and Exchange Commission (CySEC) has issued an official warning alerting investors that nine online trading and crypto platforms are operating without the required regulatory approval.

The market regulator confirmed that the flagged websites do not belong to any entity authorised to provide investment services or conduct investment activities under local legislation.

According to the regulatory body, the entities lack the legal clearance mandated by Article 5 of Law 87 (I)/2017.

The watchdog further specified that the platforms are not authorised to provide crypto-asset services as required by Article 59 of Regulation (EU) 2023/1114.

The consequences of cybercrime, online fraud and email scams can be far-reaching, affecting both finances and peace of mind, according to the Bank of Cyprus (BoC).

The bank noted that cyber fraud, email scams and other online schemes can have consequences that extend far beyond a single incident, with the impact often felt both financially and emotionally, affecting individuals long after the attack occurred. 

Financially, victims may face direct monetary losses, unauthorised transactions, or the costs associated with restoring compromised accounts and information. In some cases, recovering from the damage can require significant time and effort. 

At the same time, the Bank of Cyprus stressed that equally important is the emotional toll.

S&P Global Ratings has revised the outlook on Freedom Holding Corp and four of its core subsidiaries from stable to positive, citing an improved assessment of banking-sector risks in Kazakhstan, stronger capitalisation and diversified earnings.

The ratings agency affirmed the long- and short-term issuer credit ratings of the operating subsidiaries at BB-/B, while Freedom Holding Corp’s rating remained at B-.

“The positive outlook is a meaningful vote of confidence in the direction of Freedom24 and the wider group,” said Evgenii Tiapkin, CEO of Freedom24.

“It recognises the discipline we have built across capital management, compliance and risk governance,” he added.

Cyprus Fiscal Council president Andreas Charalambous has described Morningstar DBRS’ decision to raise Cyprus’ credit outlook to positive as expected, while warning that pension reform and the approaching election period could create fiscal risks.

Morningstar DBRS affirmed Cyprus’ long-term credit rating at ‘A’ and revised its outlook from stable to positive, while also affirming the Republic’s short-term ratings at R-1 (low) and moving their outlook to positive.

Charalambous said the decision reflected Cyprus’ favourable macroeconomic conditions, particularly its strong fiscal position.

“It was an expected development, which reflects Cyprus’ positive macroeconomic data and, in particular, its good fiscal position,” Charalambous said in comments to the Cyprus News Agency (CNA).

Total employment in Cyprus increased by 1.7 per cent year-on-year during the second quarter of 2026, reaching an estimated 525,167 people, according to the state statistical service (Cystat).

The data showed that total employment for the period was estimated at 525,167 persons.

Of this total, 472,254 were employees, while 52,913 were self-employed.

Compared with the corresponding quarter of 2025, total employment increased by 1.7 per cent during the second quarter of 2026.

The strongest increases in employment were recorded in wholesale and retail trade, including the repair of motor vehicles and motorcycles, as well as construction and arts, entertainment and recreation.

Alpha Bank S.A. announced on Monday that it has repurchased a total of 1,746,545 of its own shares for an aggregate consideration of €8,098,859.46.

The transactions were executed on the Euronext Athens stock exchange between August 31, 2026, and September 4, 2026.

The repurchases formed part of the lender’s share buyback programme, following an initial announcement on July 31, 2026.

Formal authorisation for the scheme was previously granted during the bank’s annual general meeting of shareholders on June 26, 2026.

Across the trading period, the bank acquired the shares at a volume-weighted average price of €4.6371 per share.

UBS has given a positive assessment of Greece’s banking sector, identifying it as one of Europe’s more attractive markets because of its combination of strong credit growth, profitability and valuations.

The assessment, the details of which were shared by Greek business outlet Newmoney, is particularly relevant to Cyprus through Eurobank and Alpha Bank, both of which operate in the local market.

Indeed, UBS is estimating that the sector could deliver around 15 per cent annual total returns without requiring further valuation re-rating.

European banks have already outperformed the wider European market by 11 per cent since the start of the year and by 130 per cent since 2021.

Cyprus recorded one of the stronger rates of quarterly economic growth in the EU in the second quarter of 2026, with GDP expanding by 0.8 per cent, according to figures released by Eurostat.

The Cypriot economy accelerated from 0.5 per cent growth in the first quarter, while GDP was 3.3 per cent higher than a year earlier in the second quarter, up from annual growth of 3.0 per cent in the first quarter.

The figures placed Cyprus ahead of the euro area and EU averages on both quarterly and annual measures.

Across the euro area, seasonally adjusted GDP increased by 0.6 per cent between the first and second quarters, while EU GDP rose by 0.7 per cent.

Cyprus-listed Globalwealth Group Plc has announced that it repurchased a total of 6,707 of its own shares as part of an ongoing share buyback programme.

The stock market transaction was executed on August 31, 2026, through the brokerage services of Optima Bank A.E.

The company acquired the entirety of the 6,707 shares at a fixed price of €0.6131 per share.

The total expenditure incurred by the firm for the repurchased shares amounted to €4,112.06.