Southern Europe economy · May 2026

Cyprus’ proptech sector is gaining significant momentum in 2026, driven by digital transformation in real estate. The sector's growth reflects broader trends in technology adoption across the island's economy. Eni restarted oil lifting from Venezuela in April as payment-in-kind for natural gas supplies. (ongoing coverage) Greece launched a satellite network to detect forest fires in real time, aiming to improve early warning and response capabilities. Nicosia’s Ochi market will temporarily relocate, according to local authorities. Cyprus sent the Safe programme loan agreement to the European Commission for approval.