UniCredit increased its stake in Alpha Bank to 29.5%.

Macro/Political:

• The Greek PDMA announced that during the 13W T-Bills auction of EUR 500mn which took place yesterday, the total bids reached EUR 1.180mn and the amount finally accepted was EUR 600mn at a uniform yield of 1.72% (vs 1.78% in the previous 13W T-Bills auction in October 2025).
  Source: PDMA

Markets: 

• After securing authorization from the ECB, UniCredit announced that it has increased its stake in Alpha Bank to 29.5%. UniCredit expressed confidence in the positive prospects of the Greek economy and banking sector, noting that the collaboration between the two banks will enable Alpha Bank’s clients to access UniCredit’s products, while also allowing UniCredit to benefit from a significant share of Alpha Bank’s net profits.
  Source: UniCredit

Macro/Political: 

• The Ministry of Finance of Cyprus has introduced 33 amendments and removed several “problematic” provisions from its tax reform legislative package, which is expected to facilitate smooth approval by parliament without delays or disruptions. The cabinet yesterday approved the six tax reform bills, which are designed to be fiscally neutral. According to the cabinet, despite the numerous income tax deductions for taxpayers and the reduction of the tax burden on businesses, measures to combat tax evasion and improve compliance are expected to offset any potential revenue loss.
  It is also important to mention that this new tax reform comes 22 years after the last major change. According to the Government, the reform aims to ensure a fairer distribution of the tax burden, strengthen lower income groups and the middle class, enhance business development prospects, and maintain economic resilience and growth.
  Source: PhileNews

• Minister of Foreign Affairs Mr. Constantinos Kombos will meet today in India with his counterpart, Mr. Subrahmanyam Jaishankar. According to an announcement from the Ministry of Foreign Affairs, the meeting will focus on promoting cooperation between the two countries at the political, economic, and regional levels.
  Source: Gov.cy