PRESS RELEASE – EUROBANK LIMITED

GDP Growth Accelerates in Q2 on Strong Consumption and Investment

Despite the deterioration in the global economic environment following the outbreak of the US-Iran war, the Cypriot economy remained resilient in Q2 2026, with GDP growth accelerating to 3.3%YoY, from 3.0%YoY in the previous quarter. This was the fourth-highest growth rate in the Euro Area. According to the expenditure breakdown, growth was primarily driven by household consumption (+5.4%YoY) and gross fixed capital formation (+9.4%YoY). The latter was supported mainly by a surge in investment in transport equipment (+151.9%YoY), while residential investment increased at a more moderate pace (+4.3%YoY). Household spending continued to benefit from favourable labour market conditions, with unemployment remaining close to record lows for this period of the year (3.6% in Q2 compared to 3.2% in Q2 2008), alongside robust consumer credit growth (+12.0%YoY) and strong wage dynamics (+3.9%YoY in hourly wage costs, the strongest increase in five quarters). Private consumption has traditionally been a key and stable driver of Cyprus’s economic growth, with the current contribution consistent with past expansionary periods.

Government consumption also contributed positively to growth, expanding by 4.5%YoY. Exports increased by 9.6%YoY, supported primarily by services exports. Nevertheless, the external surplus narrowed by 45.1%YoY, as imports rose by 12.9%YoY, largely reflecting the aforemantioned increase in transport-related investment. Thus, despite the strong performance of services exports, the external sector acted as a drag on GDP growth as the increase in imports more than offset the export contribution. On the production side, the acceleration in GDP growth was driven mainly by higher activity in wholesale and retail trade, ICT services, financial and insurance activities, and construction.

Contribution of GDP components to growth

Source: Cystat, Eurobank Research

Looking ahead, there are signs that economic momentum remained robust at the start of Q3 despite the ongoing geopolitical tensions in the Persian Gulf. On the investment side, real estate sales increased by 10.7%YoY in July-August, bringing the year-to-date growth rate to 13.7% and placing the market on track for a new all-time high. Strong demand is also evident in residential property prices, which rose by 8.5%YoY in Q2, lifting the residential property price index to a record high. This buoyant demand is being driven primarily by non-resident buyers, who accounted for 59% of the increase in property sales during January-August. As a result, construction activity is expected to remain strong to meet demand; during January-May, an expansion of 43.1% YoY was recorded in surface terms. In addition, transport equipment and intellectual property investment are expected to support capital formation during the remainder of 2026, through base effects.

Export performance has also proven more resilient than initially anticipated. The sharp decline in tourist arrivals recorded in March-April (-28.6%YoY) moderated significantly in June (-1.7%YoY) and July (-1.1%YoY), before widening only slightly in August (-3.3%YoY). As a result, tourist arrivals were down by 7.0% YoY during January-August, broadly in line with the 4.7%-5.8% decline projected in the previous Cyprus Insights newsletter. Under this scenario, tourism activity would remain above 2024 levels despite the challenging geopolitical environment. Real estate and intellectual property services are also expected to continue providing support to exports growth.

The outlook for household consumption remains subject to opposing forces. On the one hand, inflationary pressures re-emerged in August, with headline inflation accelerating to 5.2%YoY, from 4.4%YoY in July, largely driven by higher energy prices, despite the continued implementation of energy-related support measures. These developments increase uncertainty regarding the inflation outlook once such measures are gradually withdrawn. On the other hand, labour market conditions remain broadly supportive. As noted above, the unemployment rate remained close to historical lows in Q2 despite a 9.4%YoY increase in the number of registered unemployed persons. Encouragingly, unemployment declined relative to the previous quarter even though the labour force expanded by 1.6%QoQ, with non-residents accounting for 65.1% of the increase. This suggests that Cyprus continues to attract foreign workers, an important development given the persistent labour shortages that the country needs to tackle, reflected in the still-elevated job vacancy rate (2.6% in Q2 2026). Moreover, there are signs that labour market conditions improved further during Q3, as the annual increase in registered unemployment moderated to 6.5% in July-August.

Another indication of the resilience of Cyprus’s domestic fundamentals and favourable medium-term macroeconomic outlook is the recent sovereign rating upgrade by S and P to A from A-, accompanied by a positive outlook. According to the agency, the upgrade reflects the country’s continued external and fiscal deleveraging, which is underpinned by strong real economic growth.

PRESS RELEASE – UNIVERSITY OF CYPRUS

*Please note that the Press Conference presenting the new English-taught undergraduate programmes has been rescheduled for Tuesday, 3 November 2026, at 12:00pm

Please find the updated invitation attached.

Invitation to a Press Conference to present the University of Cyprus’s new English-taught undergraduate programmes

The following programmes will be presented:

– Medicine (MD)

– Bachelor in Business Administration in Accounting or Finance

– Bachelor in Business Administration in Marketing, Operations Management or Management

– Bachelor in Economics, Economic Theory and Econometrics or International and European Economic Studies

– YUFE Bachelor in Urban Sustainability Studies

(The presentation will be held in Greek – an English version of the presentation, as well as other information will be handed out during the Press Conference, upon request.)

The development of these new programmes marks a significant milestone for the University of Cyprus and forms part of its strategy to strengthen its international presence and broaden its recruitment of students from Cyprus and abroad.

A reception will follow.

Tuesday, 3 November 2026

Time: 12:00 -13:00

Venue: Council-Senate Conference Room 115, ‘Anastasios G. Leventis’ Council-Senate Building, 1st floor, University Campus.

*Please confirm your attendance by emailing prinfo@ucy.ac.cy by Thursday, 29 October 2026

Government deficit of pound 142.7 million in Q2, 2026 according to preliminary data

A deficit of pound 142.7 mn for the period of April-June 2026, compared to a deficit of pound 127,9 mn that was recorded during the period of April-June 2025 is indicated in the preliminary General Government fiscal results, which are prepared by the Statistical Service of Cyprus (CYSTAT).

Revenue

——–

During the period of April-June 2026, total revenue increased by pound 69.1 mn (2%) and amounted to pound 3,601 mn, compared to pound 3,531.9 mn in the corresponding period of 2025.

In detail, social contributions increased by pound 81.1 mn (6.9%) and amounted to pound 1,258.5 mn, compared to pound 1,177.4 mn in the second quarter of 2025.

Taxes on production and imports increased by pound 94.8 mn (8.3%) and amounted to pound 1,242.3 mn, compared to pound 1,147.5 mn in the corresponding quarter of 2025, of which net VAT revenue increased by pound 140.5 mn (19%) and amounted to pound 879.4 mn, compared to pound 738.9 mn in the corresponding quarter of 2025.

On the contrary, capital transfers decreased by pound 31.1 mn (-26.2%) and amounted to pound 87.6 mn, compared to pound 118.7 mn in the corresponding quarter of 2025.

Revenue from taxes on income and wealth decreased by pound 7.7 mn (-1.3%) and amounted to pound 600.9 mn, compared to pound 608.6 mn in the corresponding quarter of 2025.

Other current transfers decreased by pound 32.2 mn to pound 108.5 mn, from pound 140.8 mn in the second quarter of 2025.

Revenue from the sale of goods and services decreased by pound 12.2 mn (-4.8%) to pound 242.5 mn, from pound 254.7 mn in the corresponding quarter of 2025.

Property income receivable decreased by pound 23.6 mn (-28%) to pound 60.7 mn from pound 84.3 mn in the corresponding quarter of 2025.

Expenditure

———-

During the period of April-June 2026, total expenditure increased by pound 84 mn (2.3%) and amounted to pound 3,743.7 mn, from pound 3,659.8 mn in the corresponding period of 2025.

Specifically, social transfers increased by pound 77.2 mn (5.3%) and amounted to pound 1,540.9 mn, compared to pound 1,463.7 mn in the second quarter of 2025.

Compensation of employees (including imputed social contributions and pensions of civil servants) increased by pound 39 mn (4%) and amounted to pound 1,004.9 mn, compared to pound 965.9 mn in the corresponding quarter of 2025.

Intermediate consumption increased by pound 72.9 mn (20.2%) and amounted to pound 434.6 mn, compared to pound 361.7 mn in the corresponding quarter of 2025.

Property income payable increased by pound 12 mn (6.9%) and amounted to pound 184.9 mn, compared to pound 172.9 mn in the corresponding quarter of 2025.

On the contrary, the capital account decreased by pound 99.4 mn (-24.2%) and amounted to pound 310.9 mn (pound 261.3 mn capital formation and pound 49.6 mn capital transfers), compared to pound 410.3 mn (pound 263.4 mn capital formation and pound 146.9 mn capital transfers) in the corresponding quarter of 2025.

Subsidies decreased by pound 9.1 mn (-28.1%) to pound 23.3 mn, from pound 32.4 mn in the second quarter of 2025.

Other current expenditure decreased by pound 8.6 mn (-3.4%) and amounted to pound 244.2 mn, compared to pound 252.9 mn in the corresponding quarter of 2025.

Senekis seeks strong CAP, less bureaucracy, and decent income for farmers

The future of the Common Agricultural Policy (CAP) and the sustainable management of fisheries resources were highlighted by Minister of Agriculture, Rural Development and Environment, Christos Senekis, at the opening of the Agriculture and Fisheries Council in Luxembourg on Monday afternoon.

The Minister underlined the financial security of producers and the need for fairer terms in international markets as core pillars. Referring to the Agricultural sector, Senekis noted that “we are pursuing a strong CAP with sufficient resources, reduced bureaucracy, as well as flexibility that takes into account the specificities of each Member State.”

“At the same time, we seek fairer terms of competition and more substantial access to international markets,’ he added.

Regarding the Fisheries sector, Senekis highlighted the importance of supporting industry professionals, pointing out that ‘we support the sustainable management of marine resources, while simultaneously demanding adequate fishing opportunities and simpler rules for professional fishers.’

Concluding his intervention, the Cypriot Minister sent a clear message to his European counterparts, directly linking environmental sustainability with social welfare. ‘Our position is clear: The sustainability of agriculture and fisheries requires substantial support for the people involved, ensuring a decent income that allows them to plan their future with safety and perspective,’ he stressed.

PRESS RELEASE – EUROPEAN COMMISSION

Today, the High-Level group chaired by Catherine Day shared the results of their reflections on the Large-Scale Review with President von der Leyen and Commissioner Serafin. The purpose of this report is to recommend how the Commission can build the adaptive capacity it needs to continuously evolve and deliver results for future generations.

The European Commission is committed to ensuring that Europe can draw on a modern, efficient public administration to deliver on its political priorities and make a difference in Europeans’ everyday lives. To support this goal, President von der Leyen tasked in the Mission Letter to Piotr Serafin, Commissioner for Budget, Anti-Fraud and Public Administration, to carry out a large-scale review of the Commission’s organisation and operations. This exercise aims to make the Commission stronger, more agile, and better equipped to serve Europeans in a rapidly changing world.

Ursula von der Leyen, President of the European Commission: ‘In today’s world, Europe needs to be fast, simple and focused. With our large-scale review, we aim for more efficiency. More results, faster. So we can deliver the best possible European public service for our citizens.’

Over the last year, the large-scale review was supported by the High-Level Reflection Group on the Future of the Commission’s Civil Service, composed of nine external experts, that acted as a sounding board throughout the process.

Next steps

The High-Level group report “The Future of the Commission’s Civil Service” is a key external input for the final large-scale review report which will be presented by Commissioner Serafin to President von der Leyen and the College in the months to come. This report will present an agenda for action to equip the European Commission and its staff for the future. The final review will also be informed by an external benchmarking exercise, and an extensive internal reflection process, including wide-ranging staff consultations and reports

Background

The High-Level group report has been prepared by nine members with expertise in transforming public organisations and driving organisational change across Europe. They were appointed in their personal capacities to serve as an external sounding board throughout the process to offer expert insights and an outside-in perspective on the work.

The groups met from October 2025 to October 2026 and focused on the administrative level of the Commission. The group focused on what they see as the key needs that will deliver long-lasting change in the decades ahead.

For more information

High-Level Group report – Large Scale Review

Quote(s)

In today’s world, Europe needs to be fast, simple and focused. With our large-scale review, we aim for more efficiency. More results, faster. So we can deliver the best possible European public service for our citizens.

Ursula von der Leyen, President of the European Commission

I believe that both the report of the High-Level Group and the input from the staff give us a mandate to go for far-reaching changes.

Piotr Serafin, Commissioner for Budget, Anti-Fraud and Public Administration

The High-Level Group report shows that the Commission has deep expertise and highly motivated and committed staff, but that its structures can be optimised to make the most of that expertise.

Catherine Day, chair of the High-Level reflection group

Commission accepts Temu’s action plan to remedy the breach of the Digital Services Act

The European Commission has accepted Temu’s action plan to comply with the Digital Services Act (DSA) and tackle the availability of illegal products online. Temu’s plan focuses on five measures to remedy its breach of the DSA.

The company will carry out a platform-specific risk analysis. It will also use reliable metrics to evaluate the effectiveness of the mitigation measures put in place in reducing the risk of dissemination of illegal content.

The platform will assess the limitations of its content moderation and analyse whether, and how, its recommender systems may amplify the spread of illegal goods. Additionally, Temu will examine the influence of intentional manipulation and amplification of illegal items, including by sellers exploiting Temu’s features to spread potentially illegal listings.

The company now has four months to conduct an interim risk assessment that covers a six-month period, until 30 November 2026, to ensure the implementation of the measures of the action plan.

The action plan is another example of how the DSA is enhancing consumer protection online and limiting the spread of illegal products in Europe. The action plan was submitted following a non-compliance decision in May 2026, in which the Commission found that Temu had failed to comply with its risk assessment obligations, and issued a pound 200 million fine.

(For more information: Thomas Regnier – Tel.: +32 2 299 10 99; Patricia Poropat – Tel.: +32 2 298 04 85)

Commission launches T-MED Investment Platform with up to pound 4.5 billion in EU guarantees

Today, the European Commission published the results of a new Special Eurobarometer on food innovation, offering an EU-wide overview of how Europeans view innovative foods, ingredients and crops.

The survey shows that many Europeans see food innovation as a useful way to help farmers and food producers respond to major challenges. Innovative foods and crops can strengthen the resilience and preparedness of Europe’s food system, widen production options, support food security and help meet changing consumer needs, while respecting the EU’s high safety standards.

At the same time, the findings show that public attitude remains cautious, with comfort consistently higher among younger respondents, those with higher levels of education, urban respondents, and those who are more familiar with innovative foods. People under 39 are more comfortable with innovative foods than those aged 55 and over (over 50% vs 34%). Comfort is also lower among respondents who left school at age 15 than among those who completed their education at 20 or later. A similar pattern appears by place of residence: more than half of those living in large towns feel comfortable with foods developed using modern techniques, compared with 42% to 46% of those in villages or rural areas. Levels of comfort also differ sharply by information and awareness, ranging from 72% among those who feel well informed, to 36% among those who do not, and from 59% among those who had previously heard of innovative foods, to 32% among those without prior exposure.

Many people say they do not feel well informed, highlighting the need for clear information, transparency and trust if innovation is to succeed. The results provide valuable new insight into how food innovation can become more relevant, understandable and acceptable to society.

Europeans see potential, but want better information

The survey shows that Europeans recognise the potential of food innovation. Almost seven in ten respondents (68%) agree that it can give farmers and food producers additional tools to deal with challenges such as climate change, pests, resource scarcity and supply disruptions.

Among the innovative food products presented in the survey, the highest level of acceptance was for fruits and vegetables from crops adapted to drought, pests or extreme weather. Half of respondents (50%) said they would feel comfortable with such products.

However, there is also a clear information gap. Nearly three quarters of Europeans (72%) say they do not feel well informed about innovative foods, ingredients and crops. Overall, 51% say they have a negative view of innovative food products, while 39% have a positive view.

The survey also points to a strong link between information and public attitudes. Among respondents who feel well informed, 72% have a positive view of innovative foods. Among those who do not feel well informed, that figure drops to 27%.

Transparency and safety are key to trust

The findings make clear that transparency matters. A large majority of respondents (85%) agree that innovative food products should have clear names and provide understandable information about how they are produced, what they contain and where they come from.

These results offer important evidence for future policy development, research and innovation, and communication efforts. They can also help researchers, innovators and policymakers better reflect public expectations from the earliest stages of the innovation process.

Supporting the future of food research and innovation

The survey comes at an important moment for the EU’s food research and innovation agenda. Its findings are particularly relevant for Food 2040, the research and innovation policy framework for food systems, which forms part of the recently adopted EU Strategic Approach to Research and Innovation for competitive, resilient and sustainable agriculture, forestry, rural areas and food systems. Food 2040 underlines the importance of involving consumers and interested partners in innovation. Through co-creation and real-world testing, it aims to ensure that new solutions respond to economic, environmental and societal needs.

As Europe works to strengthen the resilience and preparedness of its food system, innovation can expand the range of solutions available to farmers and food producers, support food security and help address environmental pressures and evolving consumer preferences. At the same time, the Eurobarometer shows that successful uptake depends on clear information, transparency, safety and public confidence.

Background

This Special Eurobarometer follows up on the EU Life Sciences Strategy, which recognises that faster innovation must go hand in hand with public trust in new technologies and with ensuring that scientific advances deliver real benefits for people and the planet.

Public understanding and engagement are particularly important in fields such as agriculture and food technology, where innovation is closely linked to health, sustainability, food security and people’s everyday choices.

This Special Eurobarometer provides a timely picture of how Europeans view recent developments in innovative foods, ingredients and crops, the opportunities they see, and the conditions needed to earn their trust.

The survey was carried out in all 27 EU Member States between 22 May and 24 June 2026, with 26,456 respondents aged 15 and over.

For more information

Special Eurobarometer on food innovation

(For more information: Guillaume Mercier – Tel.: +32 2 298 05 64; Luca Dilda – Tel.: +32 2 295 21 53)

EU citizens think innovative foods can be useful but want more information, new Eurobarometer shows

Today, the European Commission published the results of a new Special Eurobarometer on food innovation, offering an EU-wide overview of how Europeans view innovative foods, ingredients and crops.

The survey shows that many Europeans see food innovation as a useful way to help farmers and food producers respond to major challenges. Innovative foods and crops can strengthen the resilience and preparedness of Europe’s food system, widen production options, support food security and help meet changing consumer needs, while respecting the EU’s high safety standards.

At the same time, the findings show that public attitude remains cautious, with comfort consistently higher among younger respondents, those with higher levels of education, urban respondents, and those who are more familiar with innovative foods. A similar pattern appears by place of residence: more than half of those living in large towns feel comfortable with foods developed using modern techniques, compared with 42% to 46% of those in villages or rural areas. Levels of comfort also differ sharply by information and awareness, ranging from 72% among those who feel well informed, to 36% among those who do not.

Many people say they do not feel well informed, highlighting the need for clear information, transparency and trust if innovation is to succeed. The results provide valuable new insight into how food innovation can become more relevant, understandable and acceptable to society.

The survey comes at an important moment for the EU’s food research and innovation agenda. Its findings are particularly relevant for Food 2040, the research and innovation policy framework for food systems, which forms part of the recently adopted EU Strategic Approach to Research and Innovation for competitive, resilient and sustainable agriculture, forestry, rural areas and food systems.

More information is available online in our press release.

(For more information: Maciej Berestecki – Tel.: +32 2 296 64 83; Isabel Arriaga e Cunha – Tel.: +32 2 295 21 17)

Executive Vice-President Mînzatu in Budapest to mark Hungary’s full return to Erasmus+ and discuss equal pay

Executive Vice-President for Social Rights and Skills, Quality Jobs and Preparedness, Roxana Mînzatu, is in Budapest to mark the full resumption of Erasmus+ in Hungary and discuss education, workers’ rights and equal pay.

Today, she will join representatives of the Hungarian Ministry of Children and Education and current and former Erasmus+ students at an event organised by the European Commission’s Representation in Hungary and Hungary’s Erasmus+ national agency. The event follows the Council’s adoption of the Commission’s proposal to lift the protective measures imposed in 2022 under the Conditionality Regulation.

On Tuesday, the Executive Vice-President will meet trade unions and employers’ organisations, including representatives of the public education sector. She will then deliver a keynote speech at an Equal Pay Day conference, before meeting members of the Hungarian National Assembly.

During her visit, Executive Vice-President Mînzatu will also hold bilateral meetings with the Minister of Regional and Rural Development, Viktória Lorincz, the Minister of Social and Family Affairs, Vilmos Kátai-Németh, and the Minister of Children and Education, Judit Lannert.

Innovative foods viewed negatively by 69% of people in Cyprus, according to Eurobarometer

A negative view of innovative foods is held by 69% of respondents in Cyprus, compared with 21% who view them positively, while 77% say they do not feel well informed about innovative foods, ingredients and crops, according to a Special Eurobarometer published by the European Commission. Across the EU, 51% have a negative view and 39% a positive one, while 72% say they do not feel well informed.

Reservations in Cyprus are also reflected in willingness to purchase new food products. A total of 78% of respondents say they would be unwilling to buy a product containing an ingredient produced using microorganisms, such as a protein identical to that found in eggs but made without animals, even if it met EU safety standards and was clearly labelled. The corresponding figure across the EU is 54%.

Of the four types of innovative foods presented in the survey, plant-based protein products obtained through new methods receive the highest acceptance in Cyprus, with 28% saying they would feel comfortable consuming them, compared with 47% across the EU. For foods produced through fermentation using microorganisms, the figures are 26% in Cyprus and 46% in the EU. For products cultivated from animal cells, acceptance falls to 18% and 34%, respectively.

Acceptance is particularly low in Cyprus for fruits and vegetables grown from crops adapted to drought, pests or extreme weather. Only 21% say they would feel comfortable consuming such products, compared with 50% across the EU. Conversely, 75% in Cyprus and 46% in the EU say they would feel uncomfortable consuming them.

The main concern before consuming innovative foods in Cyprus is the possibility of unknown long-term health effects, cited by 38% of respondents, compared with 43% across the EU. This is followed by the perception that such products are highly processed or unnatural, cited by 40% in Cyprus and 35% in the EU. A lack of clear information about production methods, composition and origin is cited by 32% in Cyprus and 33% in the EU, while a lack of trust in the companies producing them is mentioned by 30% and 25%, respectively.

Regarding potential benefits, 24% of respondents in Cyprus associate food innovation with providing farmers and food producers with new tools and options, compared with 20% across the EU. Healthier or more nutritious food options are cited by 24% in Cyprus and 23% in the EU.

Food security is mentioned by 14% in Cyprus, compared with 25% across the EU, while reducing pressure on natural resources is cited by 14% and 27%, respectively. Meanwhile, 22% in Cyprus say they associate innovative foods with none of the potential benefits presented, compared with 12% across the EU.

Transparency and clear labelling emerge as key conditions for building trust. In Cyprus, 41% say mandatory, clear labels providing information on production methods, composition and origin would increase their confidence in innovative foods, compared with 51% across the EU.

Approval by the European Food Safety Authority (EFSA) is cited by 40% in Cyprus and 36% in the EU, while regular public reporting on safety findings is mentioned by 31% and 34%, respectively.

When seeking trustworthy information about the safety and environmental impact of innovative foods, 48% of respondents in Cyprus identify health professionals, compared with 35% across the EU. National food safety authorities are cited by 23% in Cyprus and 36% in the EU, while independent scientists and academia are mentioned by 24% and 32%, respectively.

Furthermore, 86% of respondents in Cyprus and 85% across the EU agree that innovative food products should have clear and distinct names and provide transparent information about production methods, composition and origin.

A further 82% in Cyprus and 75% across the EU agree that the widespread introduction of innovative foods could threaten culinary traditions and rural agriculture if not properly regulated and transparently labelled.

Asked which potential benefits would make them more willing to consume innovative foods regularly, 36% in Cyprus say none of the benefits presented would influence their willingness, compared with 18% across the EU. Reduced use of pesticides, fertilisers or antibiotics in production is cited by 26% in Cyprus and 35% in the EU.

The Special Eurobarometer was conducted across all 27 EU Member States between 26 May and 24 June 2026, involving 26,456 people aged 15 and over. In Cyprus, fieldwork took place between 26 May and 15 June 2026, with 502 interviews.

President calls for no violations of buffer zone status quo by Turkish Cypriot side

President of the Republic Nikos Christodoulides conveyed to the UN Secretary-General’s Special Representative in Cyprus and Head of UNFICYP, Khassim Diagne, the government’s increasingly strong desire to see no violations or attempted violations of the status quo in the buffer zone by the Turkish Cypriot side, Government Spokesman Konstantinos Letymbiotis said on Monday.

Speaking to journalists at the Presidential Palace, Letymbiotis said President Christodoulides and Diagne exchanged views on the next steps in ongoing efforts to resume negotiations on the Cyprus problem, ahead of the visit of the UN Secretary-General’s Personal Envoy, Maria Angela Holguin.

He noted that the President was scheduled to meet Turkish Cypriot leader Tufan Erhurman on Tuesday morning under UN auspices, while a meeting with Holguin was scheduled for Friday. A joint meeting involving the two leaders and the UN envoy had also been arranged.

Against the backdrop of these upcoming meetings and the ongoing good offices of the UN Secretary-General and the work of UNFICYP in Cyprus, President Christodoulides conveyed to Diagne the government’s increasingly strong desire to prevent violations or attempted violations of the status quo in the buffer zone by the Turkish Cypriot side, Letymbiotis said.

He added that the government continued to expect the United Nations to act with objectivity and a measured approach, while ensuring that the terms of its mandate in Cyprus were upheld.

Violations in the area of Pyla and other locations across the UN controlled buffer zone are frequent, with the latest incident, in April 2026, involving the deployment of military vehicles and personnel from the Turkish-occupied areas, aimed at blocking veterinary checks. This prompted the UN to stress that unauthorised entry, presence or activity within the buffer zone constitutes a violation of the UN Mission’s mandate.

Further violations occurred at times in the area of Agios Dometios, in Nicosia, and other sites in and around the buffer zone, involving Turkish occupation troops. Guterres reiterated the importance of the parties refraining from taking unilateral actions that could raise tensions and compromise a return to talks.

Cyprus has been divided since the 1974 illegal Turkish invasion. Numerous peace talks under the UN aegis with the aim to reunite the island under a federal roof failed to yield results. The latest round of talks took place in the summer of 2017 in the Swiss resort of Crans Montana.

Cronos gas field agreement a decisive step for Cyprus, President says

The signing of contracts worth up to $1.8 billion for the development of the Cronos gas field, paving the way for the first commercial exploitation of Cypriot natural gas, marks a decisive step towards harnessing the country’s natural resources, President Nikos Christodoulides said in a written statement, describing the development as a strong vote of confidence in Cyprus’ energy prospects, with significant geopolitical and economic implications.

‘This development marks a decisive step towards harnessing our country’s natural resources,’ President Christodoulides said.

He noted that the signing of contracts worth up to $1.8 billion for the development of the Cronos gas field and, by extension, the first commercial exploitation of Cypriot natural gas, represents ‘a strong vote of confidence in our country’s energy prospects, with significant geopolitical and economic implications.’

At the same time, he said the development makes a decisive contribution to further strengthening the economy, giving the state greater scope to invest in policies that improve citizens’ daily lives and quality of life.

‘From the outset, our strategic objective has been to capitalise on our country’s comparative advantages and strengthen all the pillars of the Republic of Cyprus’ power,’ he said.

President Christodoulides said the agreement was a tangible result of this strategy.

‘We are building a Cyprus that is economically stronger, has an enhanced geopolitical standing and makes full use of its potential for the benefit of the country and its citizens,’ he concluded.

Cyprus Department of Meteorology – Forecast for the Sea Area of Cyprus (C)

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (C)

FOR THE PERIOD FROM 1800 26/10/2026 UNTIL 1800 27/10/2026

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1012hPa (hectopascal)

Low pressure system centered over the Aegean is affecting the area, though its influence is weak. This afternoon and tonight, the weather will be partly cloudy at times cloudy mainly with medium and high cloud coverage while isolated light showers are expected. In some instances, isolated showers may be accompanied by thunder. Tomorrow morning, the weather will be partly and locally cloudy, with isolated showers and/or isolated thunderstorm over the western and northern coastal areas. Tomorrow evening, isolated showers and isolated thunderstorms are expected over the west, the north and likely the east.

Visibility: Good

Sea surface temperature: 25°C

Warnings: NIL

AREA

PERIOD

WIND

STATE OF SEA

West Coast

Night

Northwest to Northeast 3, offshore South to Southwest 3 to 4

Smooth to Slight

Morning

Southwest to West 3 to 4, gradually West to Northwest

Smooth to Slight, gradually Slight

Afternoon

West to Northwest 3 to 4

Smooth to Slight, gradually Slight

South Coast

Night

Northwest 3, offshore Southwest to West 3 to 4

Smooth to Slight

Morning

Southwest to West 3 to 4, gradually 4

Smooth to Slight

Afternoon

Southwest to West 4

Smooth to Slight, locally Slight

East Coast

Night

West to Northwest 3

Smooth to Slight

Morning

Southwest to Northwest 3, gradually Southeast to Southwest

Smooth to Slight

Afternoon

Southwest to West 3 to 4

Smooth to Slight

North Coast

Night

South to Southwest 3, offshore 3 to 4

Smooth to Slight

Morning

South to Southwest 3 to 4, gradually Southwest to West

Smooth to Slight, gradually Slight

Afternoon

Southwest to Northwest 3 to 4

Smooth to Slight, gradually Slight

Leaders meet Tuesday, will also consult with technical committees-civil society

President Nikos Christodoulides and Turkish Cypriot leader Tufan Erciurman will have a new meeting Tuesday, in view of the arrival of the UN Secretary-General’s personal envoy, Maria Angela Holguin. The meeting is scheduled for 11 am at the premises of the United Nations Good Offices Mission in Nicosia.

In the framework of the meeting the leaders will also have a joint meeting with the members of the Youth and Cultural Heritage Technical Committees and the Civil Society Body Council.

Yesterday, the President had a meeting with the Special Representative of the UN and Head of the Peacekeeping Force in Cyprus, Khassim Diagne to whom he conveyed the Government’s continued desire that there be no violations or attempts to violate the status quo in the buffer zone by the Turkish Cypriot side.

?ext Friday a meeting of the President of the Republic is scheduled with the personal envoy of the UNSG and a joint meeting of the President of the Republic and Erhrman with Holguin has already been scheduled as well.

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results due to Turkish intransigence. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.

UN Secretary-General Antonio Guterres, whose term nears its end, announced he would convene another meeting in broader format, after adequate preparation, but gave no timeline. He secured to that end the consensus of both sides and of the guarantor powers. María Angela Holguín, Guterres’ Personal Envoy on Cyprus, is tasked to engage with the parties. Executive Vice-President Raffaele Fitto acts as the European Commission’s Special Representative for Cyprus, succeeding EU special envoy Johannes Hahn.