GREECE
Macro/Political:
- US Secretary of State Marco Rubio will arrive in Greece today for a visit expected to be accompanied by a series of agreements centred on the purchase of new weapons and a review of bilateral cooperation. According to diplomatic sources, talks will cover a wide range of issues involving senior officials from both countries. Topics include regional issues, ties between the two nations, international developments, security and law enforcement, energy, shipping, technology, trade, investment and defence.
Source: Kathimerini
Markets:
- Metlen announced the signing of a long-term commercial agreement with a major Japanese chemical company for the future supply of gallium, representing up to 16% of METLEN’s total annual gallium production from its production facility in Greece, which is currently under construction. The commercial terms of the agreement remain confidential.
Source: Euronext Athens
CYPRUS
Macro/Political:
- President Christodoulides said yesterday that over the next few years, Cyprus expects to have access to approximately EUR 3.5bn in EU funds for development projects. According to Christodoulides, Cyprus-related projects under the 2028–2034 MFF are expected to receive cabinet approval by September 2027 at the latest. For the current 2021–2027 cycle, the total national allocation secured for Cyprus is approximately EUR 2.7bn, of which EUR 1.5bn comes from the MFF and EUR 1.2bn from Next Generation EU. Regarding the Recovery and Resilience Facility (RRF), the absorption rate is close to 50%, compared with the EU average of 56%. Christoforou said the data underscores the island’s efficient use of EU funds, which are channelled towards “society and people”. Earlier, Christodoulides said in a written statement that Cyprus had received another EUR 119mn under the RRF last week. With the disbursement of this latest tranche, the country has to date received EUR 709mn, or 70% of the total EUR 1bn allocation. The next RRF tranche is expected to be disbursed in December. “Our goal is clear: waste no time and no available EU funds, so that these resources are converted into tangible results for the economy and the people,” Christodoulides said.
Source: Cyprus Mail - Former Health Minister and Nicosia MP Giorgos Pamporidis has formally entered his party’s internal race to select its candidate for the 2028 presidential elections. Pamporidis had previously left open the question of whether he would take part in the process, although he had already publicly expressed his intention to seek the nomination. With his latest intervention, he has now announced his decision and issued an open call for support.
Source: Politis
- In June 2026, the number of building permits authorized by the municipal authorities in Cyprus stood at 751.During the period January-June 2026, 4401 building permits were issued compared to 3,399 in the corresponding period of the previous year, recording an increase of 29.5%.
Source: CyStat
- In July 2026, the Industrial Turnover Index reached 168,8 units recording an increase of 5% (y-o-y).
Source: CyStat
