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Summary
Domestic
The Cypriot economy displayed mixed signals, with industrial production ending 2025 strongly and unemployment falling to 4 percent, while bank deposits fell sharply and the trade deficit widened. The government advanced new regulations, including a law to limit property sales to foreign buyers and a push for minimum wage reform. The Cyprus Securities and Exchange Commission tightened oversight of investment firms, even as concerns persisted about the economy's reliance on its 'foreign engine' of investment, which reached 11.4 billion euros. In Italy, annual inflation dropped to 1 percent, and the government purchased the Renaissance painting 'Ecce Homo'. Greek farmers drove tractors into central Athens for a major protest, vowing to continue demonstrations. In Spain, a train strike over safety concerns was cancelled after a government deal, while a severe storm caused catastrophic crop damage in Spain and Portugal, prompting a $3 billion aid package from the Portuguese government.
International
Cyprus actively promoted its role within the European Union, positioning itself as a strategic shipping bridge, an investment destination, and a hub for tech startups while hosting a major EU forum on space and AI. On EU-wide matters, Italy called for restraint after the EU paused a tariff deal with the US, and former European Central Bank President Mario Draghi argued the EU must become a 'genuine federation'. Italy's Foreign Minister Antonio Tajani noted a positive climate in talks with the United States on tariffs, stating the US provided reassurances. In corporate movements, Italian shipbuilder Fincantieri moved part of its production to Romania, and Spain's Banco Santander agreed to buy Webster Financial for $12.2 billion to grow its US retail banking business.
Domestic and International Topics
36 topics | 459 sources
GR/IT/PT+3The Cypriot economy shows mixed signals with strong industrial production and low unemployment but also new regulations. At the same time, Cyprus is actively promoting itself within the European Union as a strategic bridge for shipping and a mature destination for investment, positioning its domestic economic developments within a broader EU context.
org:eurobankorg:alpha banktopic:taxesplace:cyprusplace:nicosia
Feb 28
Italy's annual inflation rate dropped to 1% in January, according to the national statistics office Istat. At the same time, the Italian government purchased the painting 'Ecce Homo' by the Renaissance artist Antonello da Messina. Other economic news includes Italian retail sales rising in value but falling in volume for 2025, and a report showing 429 Italian companies were acquired by foreign owners in one year. Separately, the Unicredit bank reached an agreement with unions for employee bonuses, and a new fee was announced for visitors who want to get close to Rome's Trevi Fountain.
person:antonelloperson:messinaorg:istattopic:arttopic:inflation
Feb 10 — Feb 27
A train strike in Spain has been cancelled after the government reached a deal with drivers. The strike had begun as drivers protested what they said were safety failures on the rail network. Separately, the state railway company Adif has cancelled the last trains of the day on the Madrid-Barcelona line to perform maintenance work.
place:madridplace:spain
Feb 13 — Feb 25
USItalian Deputy Prime Minister Antonio Tajani met with Italian business leaders who are concerned about new US tariffs. He told them the climate with the US is positive and that he does not expect major changes to the tariffs. Tajani said the US gave reassurances on tariffs during the recent G7 meeting. He suggested the same tariffs could be possible on a new basis.
person:tajaniperson:trumporg:g7topic:tariffs
Feb 27
Greek farmers drove their tractors into central Athens for a large protest. They have now left the city but say they will continue their demonstrations, with another major rally planned for mid-February. Separately, the airline Aegean announced it will restart flights between Paphos, Cyprus, and Athens in July.
place:athensplace:greece
Feb 14
Ferrari has revealed the name and interior of its first-ever fully electric car, called the Luce. The vehicle is reported to have four motors and 1,000 horsepower. Separately, the company reported its financial results for 2025, showing a 7% increase in turnover and a 5% rise in net profit.
org:ferrari
Feb 10 — Feb 19
A Chevron-led group has signed contracts to explore for natural gas in waters off the Greek island of Crete. Turkey has declared this activity unlawful, saying Greece does not have the right to explore in that part of the Mediterranean Sea, which has renewed tensions between the two countries.
org:chevrontopic:gastopic:energyplace:crete
Feb 19
Italian Prime Minister Giorgia Meloni stated that tackling high energy prices is a priority and that the European Union must act without delay. She said measures to address the issue would be discussed in the Italian Council of Ministers next week.
person:meloniorg:euorg:enitopic:energytopic:oil
Feb 26
BG/RO/MDItalian shipbuilder Fincantieri is moving part of its production to Romania. At the same time, Greek construction companies are also looking to expand their business into the Romanian market. Separately, a company called Redport secured 9 million euros in financing from the Italian bank Intesa Sanpaolo for a residential project in Bucharest, Romania.
person:goggiaplace:romaniaplace:milanoplace:cortina
Feb 11 — Feb 16
Italian Prime Minister Giorgia Meloni has expressed openness to EU-wide bonds while simultaneously calling eurobonds divisive, highlighting the complex Italian position on European financial instruments. She has cited German-Italian cooperation as a key factor in her government's approach to European economic policy.
person:melonitopic:eurobonds
Feb 13 — Feb 14