Category: Cyprus News Agency

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (B)

FOR THE PERIOD FROM 1200 08/06/2026 UNTIL 1200 09/06/2026

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

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

Weak low pressure is affecting the area. The weather will be mainly fine but tonight and tomorrow morning, locally increased low cloud coverage will be present with local mist and/or fog.

Visibility: Good, but moderate to poor in mist and very poor in fog

Sea surface temperature: 24°C

Warnings: NIL

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (C)

FOR THE PERIOD FROM 1800 08/06/2026 UNTIL 1800 09/06/2026

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1010hPa (hectopascal)

Weak low pressure is affecting the area. The weather will be mainly fine but tonight and tomorrow morning, locally increased low cloud coverage will be present with local mist and/or fog, mainly over the east and the south.

Visibility: Good, but moderate to poor in mist and very poor in fog

Sea surface temperature: 24°C

Warnings: NIL

Total employment for the 1st quarter of 2026 increased by 2%, compared to the corresponding quarter of 2025, according to data published by the Statistical Service on Monday. At the same time, actual hours worked went up 2.5%.

According to the Statistical Service, total employment for the 1st quarter of 2026 is estimated at 513,367 persons, of which 460,476 are employees and 52,891 are self-employed.

The most significant percentage increases were observed in the economic activities of Wholesale and retail trade; repair of motor vehicles and motorcycles (NACE G), Information and communication (NACE J) and Construction (NACE F).

Hours Worked

Actual hours worked in the 1st quarter of 2026 are estimated at 238,274 thousand, marking an increase of 2.5% compared to the corresponding quarter of 2025.

The most significant percentage increases were observed in the economic activities Wholesale and retail trade; repair of motor vehicles and motorcycles (NACE G), Information and communication (NACE J) and Construction (NACE F).

An informal meeting of EU Defence Ministers is taking place in Nicosia under Cyprus’ EU Presidency, focusing on current and emerging security challenges.

According to the Cyprus Presidency of the Council of the European Union, the informal meeting brings together Defence mMnisters of the European Union to discuss key priorities under the Common Security and Defence Policy (CSDP).

‘Discussions will focus on current and emerging security challenges, with particular emphasis on defence readiness and coordinated EU responses in an evolving security environment,’ the Presidency said.

According to the programme, on Monday, the Ministers, will, among other things, hold strategic discussions on EU defence support to Ukraine, with a particular focus on mobilising European Peace Facility (EPF) funds dedicated to military support for Ukraine.

Discussions will also focus on maritime security in light of the latest developments, with a particular focus on freedom of navigation, ongoing efforts to counter the Russian shadow fleet.

During a working lunch, they will exchange views on the European Security Strategy, with particular reference to developments in the evolving strategic context.

Meanwhile, the Ministry of Defence hosted on Sunday a dinner in honour of the Ministers of Defence of the member states of the European Union, who will participate in the meeting.

In a post on ‘X’, Cypriot Defence Minister Vassilis Palmas wrote that “I welcomed my European counterparts to Cyprus and expressed the belief that the consultations within the Council will be conducted in a spirit of cooperation and mutual understanding, with an orientation towards the future and guided by the common effort to strengthen European security and defence, so that the European Union remains capable of protecting its citizens, defending its interests and contributing substantially to the promotion of international peace and stability”.

The EU Defence Ministers also visited on Sunday the old town of Nicosia, where they were informed about the history of Cyprus and the consequences of the Turkish invasion of 1974.

“The visit highlighted the special character of Nicosia as the last divided capital of Europe, as well as the ongoing challenges arising from the continued occupation of part of the territory of the Republic of Cyprus by Turkey,” Palmas wrote on ‘X’.

Meanwhile, Greek National Defence Minister, Nikos Dendias, who is in Cyprus to attend the informal meeting will be received in the afternoon by the President of the Republic, Nikos Christodoulides.

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.

The “Stelios Bi-Communal Awards for Business Co-operation in Cyprus 2026” were presented on Monday morning, during which Sir Stelios Haji-Ioannou, creator and owner of the easy family of Brands and founder and chairman of the Stelios Philanthropic Foundation, awarded 9 bi-communal business teams, consisting of 9 Greek Cypriot and 9 Turkish Cypriot entrepreneurs.

According to a press release of the Stelios Philanthropic Foundation, the event, held this year for the 16th year, highlighted once again the important role of entrepreneurship in creating new opportunities, growth and a shared perspective for the two communities of Cyprus.

The total amount of the awards this year amounted to pound 500,000, with the total contribution of the Stelios Philanthropic Foundation in creating opportunities for cooperation and joint development for Greek Cypriots and Turkish Cypriots now amounting to pound 5,300,000 since the launch of the event in 2009.

As stated, the long-standing impact and the dynamics of the institution are reflected in the strong interest in participation recorded this year. Specifically, 78 Greek Cypriot and Turkish Cypriot entrepreneurs, who participated in 39 bilateral bi-communal groups, submitted a joint application to participate in the Stelios Bicommunal Business Awards in Cyprus 2026.

The 9 winning, bilateral bi-communal business teams shared cash prizes totalling pound 500,000, with the Gold Winning Team receiving pound 150,000, of which pound 75,000 was awarded to each entrepreneur.

The Silver Prize and a total amount of pound 200,000 were awarded to two teams. Each Silver Winning Team received pound 100,000 – pound 50,000 for each entrepreneur member of the two-man team. The Bronze Prize totalling pound 150,000 was awarded to six teams. Each team received pound 25,000 – pound 12,500 for each entrepreneur member of the two-man team.

The President of the Republic of Cyprus, Nikos Christodoulides said that the Stelios Bi-Communal Business Cooperation Awards are a long-standing institution, the essence of which lies in the transformative power of cooperation and peaceful coexistence.

Congratulating the winners and all participants in the competition, Haji-Ioannou said that “the Stelios Bi-Communal Awards is not just an institution of entrepreneurship. It is a living proof that Greek Cypriots and Turkish Cypriots can work together, create together and succeed together. Every joint venture born out of this initiative is a true bridge of communication, trust and progress between the two communities of Cyprus.”

The Gold Award was presented to Steven Stavrou and Burak Doluay who founded the SocialTech Lab to harness tools that promote entrepreneurship, innovation and technology, fostering a different culture of collaboration and communication.

The award ceremony, which took place at the Stelios Philanthropic Foundation Headquarters in Nicosia, was attended by the President Christodoulides, the Personal Envoy of the UN Secretary General, María Ángela Holguín Cuéllar, as well as the Special Representative of the UN Secretary General in Cyprus, Khassim Diagne, recognizing the long-standing contribution of the institution in strengthening entrepreneurship in Cyprus.

The Council of the EU has approved new restrictive measures against two individuals and one entity under its expanded sanctions framework targeting those involved in Iranian actions and policies that threaten freedom of navigation in the Middle East.

According to the Council, which is under Cyprus Presidency, these actions violate international law and infringe upon the established rights of transit passage and innocent passage through international straits.

The EU has added the Hormozgan Provincial Command of the Islamic Revolutionary Guard Corps Navy (IRGC Navy) to its sanctions list. European authorities state that the IRGC Navy has assumed control over the Strait of Hormuz and implemented a toll system requiring vessels to submit identifying documents, cargo details, and destination information. This information is reportedly forwarded to the Hormozgan Provincial Command, which screens vessels and determines whether they may transit the strait, in some cases only after the payment of fees.

The Council has also sanctioned Mohammad Akbarzadeh and Hamid Hosseini for supporting Iran’s actions that impede lawful transit passage and freedom of navigation.

Akbarzadeh, Deputy Commander for Political Affairs of the IRGC Navy and the organization’s spokesperson, is accused of supporting the enforcement of the toll system and of threatening the use of missiles or drones against vessels transiting the Strait of Hormuz. The EU alleges that the IRGC Navy has undermined freedom of navigation by threatening, harassing, and attacking commercial vessels operating in the region.

Hosseini, a representative of Iran’s Oil, Gas and Petrochemical Products Exporters’ Union and a member of Iran’s Chamber of Commerce, is accused of promoting policies that require ships to submit information, undergo assessment, and pay transit fees to Iranian authorities in exchange for safe passage through the strategic waterway.

With these latest additions, EU restrictive measures under the amended framework now apply to a total of 26 individuals and 27 entities from various countries. Those listed are subject to asset freezes, a prohibition on receiving funds or economic resources from EU persons or entities, and, in the case of individuals, a travel ban to the European Union.

Cyprus holds the EU Council Presidency for the first half of 2026.

Minister of Energy, Commerce and Industry, Michalis Damianos, will attend, on Monday, the 10th Ministerial Meeting of the East Mediterranean Gas Forum (EMGF) in Washington, in the framework of his official visit to the United States, where he will have meetings in the US capital and Houston and participate in a series of high-level discussions and international energy forums, according to a Ministry press release.

On Monday the Minister will attend the EMGF Ministerial Meeting in Washington, where discussions will focus on regional energy cooperation and energy security in the Eastern Mediterranean. On the sidelines of the meeting, he will hold a bilateral meeting with Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi and will also meet officials of the White House National Energy Dominance Council.

On Tuesday, he will participate in the Eastern Mediterranean Energy Business Forum organized by the Atlantic Council, focusing on investment prospects in the region’s energy sector. The same day, he will address the 41st Annual PSEKA Conference, outlining developments regarding the exploitation of hydrocarbons in Cyprus’ Exclusive Economic Zone.

On Wednesday, the Minister will take part in a discussion at the Atlantic Council Global Energy Forum on Europe’s path from the energy crisis towards a more resilient energy policy.

He will then travel to Houston, where on Thursday he will attend the 3+1 Ministerial Meeting. Talks will focus on the development of natural gas fields in the Eastern Mediterranean, strengthening energy security and promoting energy interconnection projects.

During his stay in Houston, he will also participate in the inauguration of the Eastern Mediterranean Energy Center and hold bilateral meetings with counterparts and other officials.

The Energy Minister will return to Cyprus on June 13, the Ministry said.

Cyprus recorded an apparent cost of general government gross debt of 2% in 2025, marking a slight increase from 1.9% recorded in 2024, according to data published by Eurostat on Monday.

According to the Statistical Service, at EU level public debt data show that the structure of general government gross debt varies significantly across member states, mainly in terms of maturity, debt instruments, and debt holders. However, its currency denomination presents a more uniform picture.

At the end of 2025, for almost all euro area member states over 99.5% of general government gross debt was denominated in euro. In Czechia and Sweden, more than 90% of debt was denominated in their national currencies.

Regarding the apparent cost of public debt, in most EU countries for which data are available, it increased slightly or remained stable between 2024 and 2025. The highest costs were recorded in Romania at 5.2%, Poland at 4.5%, Czechia at 3.1%, and Italy at 3.0%.

At the lower end of the scale are Ireland at 1.4%, Luxembourg at 1.5%, the Netherlands at 1.7%, Germany at 1.8%, as well as France, Finland, and Sweden at 1.9%.

According to Eurostat, the cost of debt decreased in 2025 in seven EU countries, with the largest declines recorded in Estonia (-0.8%), Sweden (-0.3%), and Croatia (-0.2%).

By signing the SOFA (Status of Forces Agreement), Cyprus and France are making a decisive contribution to achieving our common European goal of the strategic autonomy of the European Union, President Nikos Christodoulides posted on X, on Monday.

He noted that the signing of the agreement further strengthens the strategic relationship and cooperation between Cyprus and France.

The President recalls that when French President Emmanuel Macron visited Cyprus on April 23, public reference was made to the multi-level strategic cooperation between the two countries, especially in the fields of defense and security.

He also recalls that he had then mentioned that by June the two countries would go ahead with the signing of a Bilateral Status of Forces Agreement (SOFA) which would set the necessary institutional framework for hosting French forces in the Republic of Cyprus for humanitarian operations in the wider region of the Eastern Mediterranean and the Middle East.

”I am delighted that today the Ministers of Defence of Cyprus and France signed the said Agreement in Nicosia, further strengthening the strategic relationship and cooperation between Cyprus and France”, the President noted.

The Cyprus Stock Exchange (CSE) All Share Index closed at today`s stock exchange meeting as follows:

MEETING DATE: 08/06/2026

INDICES BASE VALUES: FTSEMed=5000, OTHERS = 1000

EURO (pound )

TRADED VALUE 527,303.66

INDEX

VALUE

%DIFF.

VALUE

FTSE/CySE 20

178.810

-1.110

520,289.770

MAIN MARKET INDEX

237.180

-0.990

165,021.690

INVESTMENT COMPANIES MARKET INDEX

3,204.810

-1.750

64,857.380

CSE GENERAL INDEX

296.360

-0.810

520,934.770

HOTELS INDEX

1,944.010

-0.250

3,741.320

ALTERNATIVE MARKET INDEX

1,984.660

-0.500

355,913.080