Category: Cyprus News Agency

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (A)

FOR THE PERIOD FROM 0600 03/06/2026 UNTIL 0600 04/06/2026

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1015hPa (hectopascal)

Weak high pressure is affecting the area. The weather will be mainly fine. Mist or low cloud are probable locally.

Visibility: Good, but moderate to poor in mist

Sea surface temperature: 23°C

Warnings: NIL

Cyprus has signed two Council of Europe agreements. The first is the Third Additional Protocol to the European Convention on Mutual Assistance in Criminal Matters and the second is the Convention on the Protection of the Environment through Criminal Law.

Deputy Secretary General of the Council of Europe, Bjørn Berge, wrote on his ‘X’ account “thank you to Cyprus and Ambassador George S. Yiangou for your continued support and commitment, and for signing the Third Additional Protocol to the European Convention on Mutual Assistance in Criminal Matters and the Convention on the Protection of the Environment through Criminal Law”.

It is noted that the Third Additional Protocol to the European Convention on Mutual Assistance in Criminal Matters aims to strengthen the capacity of member and partner states to respond effectively to crime, particularly in a context of rapid political, social and technological change. It supplements and updates the Convention adopted in 1959, as well as its first two Additional Protocols, to adapt them to contemporary challenges.

The main advances include simplification and acceleration of mutual assistance procedures, extending the range of situations in which mutual assistance may be requested and broadening the use of electronic communication channels and video conferencing; enabling the use of technical surveillance tools such as GPS trackers and telecommunications interception; and introducing time limits.

The European Committee on Crime Problems (CDPC), which is behind this initiative, had stressed the need to revise certain provisions, particularly in the light of the lessons learned from the Covid-19 pandemic and the increasing use of digital tools in judicial cooperation.

Meanwhile, the purpose of the Convention on the Protection of the Environment through Criminal Law is to prevent and combat environmental crime, promote national and international cooperation, and establish minimum legal standards to guide States in their national legislations.

The main goal is the promotion and enhancement of the protection of the environment.

The two RescEU aircraft are already stationed at the European Regional Firefighting Station in Cyprus, which is expected to be inaugurated later this year, Zacharias Giakoumis, Head of Communication at the European Commission’s DG ECHO, said on Wednesday.

Speaking at a briefing in Nicosia on the EU’s preparations ahead of the 2026 wildfire season, Giakoumis said the Commission’s package includes 27 aerial firefighting assets, 22 aircraft and five helicopters, as well as 787 firefighters from 14 countries, who will be pre-positioned in six countries.

For the first time, he added, European firefighters will also be pre-positioned in Cyprus, with 15 expected to be stationed on the island for an initial two-week period.

Replying to a question, Giakoumis said the President of the Republic is in contact with the European Commission to set the date for the inauguration of the Cyprus station.

He said the two RescEU aircraft are already at the station and are expected to be operational from June 15 to October 31. The station, he added, will host a total of six aircraft of the same type, one of which will be used for training purposes. Further details on staffing and equipment will be announced at the inauguration.

Giakoumis said the station will have a wider regional role, focusing on cooperation with countries outside the European Union and on strengthening operational capacity through joint exercises and other actions.

Referring to the broader EU framework, he said RescEU assets are mobilised through the EU Civil Protection Mechanism when assistance is requested by a country facing a crisis. The European Commission fully covers stationing costs, including personnel, as well as transport costs.

Cyprus, he said, has activated the Mechanism 12 times, seven of them for wildfires from 2016 to 2025, while it has provided assistance through the Mechanism 15 times over the past ten years, mainly for wildfires.

Giakoumis noted that 2025 was the worst wildfire year in the EU in the past two decades, with around one million hectares burned. For Cyprus, he said, it was also the worst recent year, with around 13,000 hectares burned.

For 2026, he said data up to April 30 show a situation close to the 20-year average, but forecasts point to above-average temperatures in the Mediterranean and southern Europe in July, August and September, increasing wildfire risk.

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

MEETING DATE: 03/06/2026

INDICES BASE VALUES: FTSEMed=5000, OTH

EURO (pound )

TRADED VALUE:

1.374.012,43

INDEX

VALUE

% DIFF.

VALUE (pound )

FTSE/CySE 20

181,210

0,220

1.367.390,930

MAIN MARKET INDEX

240,120

-0,820

1.316.123,880

INVESTMENT COMPANIES MARKET INDEX

3.329,880

-1,950

1.193.732,870

CSE GENERAL INDEX

299,200

-0,420

1.368.413,460

HOTELS INDEX

1.858,120

0,000

0,000

ALTERNATIVE MARKET INDEX

2.001,000

1,050

52.299,460

* The second column presents the percentage variation of the indices as compared to the last meeting.

The importance of the Cyprus Trade Union Forum for the effort to building trust and cooperation between the Greek Cypriots and the Turkish Cypriots and the building of a common vision for Cyprus was highlighted during a discussion at the extraordinary meeting of the European Economic and Social Committee (EESC) Workers’ Group held on Wednesday afternoon in the framework of the Cyprus Presidency of the Council of the European Union in Nicosia.

In his statement, Andreas Matsas, Secretary General of SEK, noted that the aim of the discussion was to present the reality of Cyprus from the perspective of society and trade unions, an their actively contribution to the effort to resolve the Cyprus problem.

As he noted, the Cypriot reality remains difficult to understand for citizens of other European countries, as the division of the island continues to affect the daily life of citizens.

Matsas stressed that the cooperation of the trade unions has helped to overcome stereotypes and divisions that for decades have characterized the two communities, and maintained continuous cooperation on issues concerning workers and the prospects for the reunification of the country.

“We have succeeded in overcoming our fears. We have succeeded in overcoming our ideological, or any other differences and building a perspective that is beneficial for all Cypriots, regardless of whether they are Greek Cypriots or Turkish Cypriots,” he said. He also noted that through joint studies and declarations, the unions seek to shape the conditions for a unified framework of labour relations and social protection in a reunited Cyprus.

Matsas said that since its inception, the Forum has sought to create a commonly accepted structure of cooperation, with the aim of conveying to political leaders the message that society can move forward through dialogue and common human values.

“The basic premise from the beginning was that we as trade unionists, as a society, should be able to go beyond politicians and be able to send a message on basic human principles and values,” he concluded.

Sotiroula Charalambous, the Pancyprian Federation of Labour (PEO) Secretary General, said that during yesterday’s discussion at the EESC Session, the priorities of the trade union movement in Cyprus regarding the issues of concern to workers had been mentioned, adding that “they are very important, but all of them are overshadowed by the fact that our country remains divided and the ruling class of Cyprus remains divided”.

She said that the trade union movement in Cyprus – the Greek Cypriot and Turkish Cypriot trade union organisations – can be described as pioneers in terms of trying to bring workers from the two communities closer together and trying to build a common vision “of how we want Cyprus to be”.

She added that there is an agreement that “division cannot be the future of our country and the future of the workers” and said that efforts have been made through the conferences, the pan-union forum conferences, “to put down on paper what we expect and want from a future solution”.

She stressed the commitment of the trade unions on both sides to a bicommunal federal solution as outlined by the United Nations and by the high-level agreements between the two leaders. “Writing down in the basic principles that we believe the solution should include the right of workers and all Cypriots to move freely and work freely in any part of Cyprus,” she said.

Charalampous noted that what is most important is the resumption of talks, expressing concern that “as long as the situation remains as it is, the division is being perpetuated”.

The importance of public knowledge and information

———————————————

The importance of shared knowledge and reliable information as a prerequisite for dialogue and cooperation in divided societies was highlighted in the presentation “Labour Market Guide: why shared knowledge matters” by Maria Zeniou and Erbay Akansoy on behalf of the Cyprus Dialogue Forum Secretariat.

According to the presenters, the lack of shared knowledge is a major obstacle to dialogue, as data is collected and interpreted separately by different communities, creating conflicting perceptions of reality. As a result, information often becomes a tool for division, trust in data is reduced and stakeholder positions become entrenched.

The presentation highlighted the role of the Cyprus Dialogue Forum as a permanent, inclusive and ongoing dialogue process, as well as the role of the Labour Market Task Group, which brings together social partners and organisations from both communities. It was also mentioned that the common objective of the group is to formulate a single and fair framework for the labour market, both in the Cyprus settlement process and in a future reunited Cyprus.

The presentation concluded that the creation of common knowledge contributes to the development of a common perception of reality and, by extension, a common responsibility towards the challenges of the labour market.

Matsas commented that limited knowledge or even the manipulation of knowledge is worse than the absence of knowledge, and expressed the importance of the ability to communicate “to each other in a more genuine way”.

For his part, Cevdet Özgr, representative of TURK-SEN said that discussions between the two communities in relation to working life in the peace process are ongoing, focusing on areas such as education, health and the social security system, while expressing the view that the joint effort of trade unions in the country is of great importance.

MEETING OF REPRESENTATIVES OF THE CYPRUS NATIONAL COMMITTEE OF THE INTERNATIONAL CHAMBER OF COMMERCE (ICC) WITH SENIOR OFFICIALS OF THE ICC

On Friday 29 May, the President of the Cyprus National Committee of the International Chamber of Commerce (ICC), Mr. Phidias Pilides, accompanied by the Advisor to the Cyprus National Committee, Mr. Leonidas Paschalides, had a meeting with Mr. John Denton, Secretary General of the ICC and Mr. Alexander Fessas, Secretary General of the International Court of Arbitration of the ICC, who are in Cyprus for a meeting with the President of the Republic who holds the Presidency of the Council of the European Union for the first half of 2026.

During the very constructive meeting, the priorities of both the ICC and the Cyprus National Committee were discussed in relation to the main areas of activity of the ICC, that concern international trade and business cooperation at an international level. The ICC officials expressed their appreciation for the work carried out by the Cyprus National Committee and for its contribution to the promotion of the positions and views of the ICC during the Cyprus Presidency. At the same time, the important role played by Cyprus as a bridge between the European Union and the Middle East was highlighted. In addition, there was discussion of ways to further strengthen the presence of the Cyprus National Committee in the activities of the ICC, since this will have a very positive impact on the work carried out by the predominant representative of the business world at an international level.

The ICC officials stated that they look forward to continuing the constructive discussions during the visit of Mr. Phidias Pilides and the President of the Cyprus Chamber of Commerce and Industry Mr. Stavros Stavrou to Paris on the occasion of the ICC World Council meeting that will be held on June 11.

A senior European Central Bank (ECB) official has urged EU policymakers to move beyond passive support and take concrete steps to enhance the euro’s international standing, warning that Europe risks falling behind as China and the United States deliberately promote their currencies.

In an op-ed by Member of the ECB’s Executive Board Piero Cipollone, the central bank highlights that while the euro has modestly gained ground in recent years, Europe can no longer afford to treat the currency’s international role as an afterthought. The piece is being offered exclusively to one media outlet per euro area country and coincides with the ECB’s release today of its annual ‘Report on the International Role of the Euro’.

‘The international monetary system is becoming more contested,’ Cipollone writes. ‘Major economies that once trusted the system to work on its own are now actively shaping the use of their currencies. Europe has so far been an exception.’

Modest gains, but new threats

According to the article, a composite measure of the euro’s international use has risen by around 1.5 percentage points since the mid-2010s. The euro accounts for roughly 20% of global reserves – a level stable for two decades – but issuance of international debt in euros reached nearly pound 1 trillion last year, the highest since the currency’s creation.

During episodes of market stress in 2025, investors turned to euros and euro-denominated assets as safe havens even as they sold US dollars and Treasuries. Cipollone attributes this progress to Europe’s openness, commitment to the rule of law, central bank independence, and the single market.

Targeted European actions have also delivered results. It is noted that the euro has overtaken the dollar as the leading currency in the global green bond market, thanks to the EU’s framework on sustainable finance. Instant payments have grown rapidly following EU legislation and the Eurosystem’s pan-European system.

Rising competition

However, Cipollone warns that competitors are moving with clear intent. Nearly a third of China’s external trade is now settled in renminbi, up from almost nothing a decade ago. The renminbi’s share in global trade finance has reached 8%, surpassing the euro. More than 20% of French trade with China is already invoiced in renminbi.

In the United States, new legislation supporting dollar-denominated stablecoins reflects a strategy to extend American monetary dominance into the digital sphere.

‘The world’s largest economies are taking deliberate action. Europe cannot afford to be the one that does not,’ Cipollone states.

ECB initiatives and call for broader EU action

Within its mandate, the ECB says it is supporting the euro’s role through macroeconomic stability and liquidity provision. It has expanded its EUREP repo facility to give more central banks standing access to euro liquidity. Starting in September 2026, the ECB will issue tokenised central bank money for wholesale settlements, and it is preparing a digital euro for retail payments. Efforts are also underway to link Europe’s fast payment system with those of other countries.

Cipollone stresses, however, that the most important drivers of a currency’s international standing – economic strength, geopolitical weight, and legal certainty – lie with EU legislators. He calls for completion of the single market, a savings and investments union, higher productivity, and stronger external and energy security.

‘A stronger international role for the euro will not come about by itself. We will have to choose it, and put words into action,’ the ECB Executive Board member concludes.

Euro strengthens global role in 2025, but ECB warns of growing geopolitical challenges

The international role of the euro strengthened moderately in 2025, consolidating its position as the world’s second most important currency, according to the European Central Bank’s latest report on the international role of the euro published on Tuesday.

The ECB said the euro’s share across a broad range of indicators of international currency use increased to around 20% last year, extending a gradual upward trend that has been evident since 2014.

One of the strongest drivers of the increase was a surge in euro-denominated international debt issuance, which rose by about 30% compared with 2024 and reached its highest level since the launch of the single currency.

The euro also became the leading currency in the global market for green and sustainable international bonds for the first time, while foreign portfolio investment inflows into the euro area remained close to record levels.

Despite the positive developments, the ECB warned that growing geopolitical fragmentation and the emergence of alternative payment systems continue to pose risks to the international monetary system.

“There is an opening for the euro to enhance its global appeal – provided that European policymakers create the necessary conditions and put words into action,” ECB President Christine Lagarde said.

Lagarde stressed that strengthening the euro’s global role would require reinforcing three key pillars: economic resilience, legal and institutional integrity, and geopolitical credibility.

EU deploys largest ever wildfire response for 2026 summer

With wildfire risks rising across Europe, the European Commission is helping finance and coordinate the deployment of a record number of firefighters, aircraft and emergency experts under the Civil Protection Mechanism.

777 firefighters from 14 European countries will be strategically pre-positioned in high-risk areas across Cyprus, Greece, Italy, France, Spain, and Portugal. This is the highest level of participation since the pre-positioning programme’s launch in 2022. In parallel, 22 firefighting airplanes and 5 helicopters from the EU fleet are ready to support countries under pressure.

As wildfire seasons become longer, earlier and more destructive, the Commission is making sure additional firefighters, aircraft and expertise are ready to back up national services when and where the risk is highest.

President of the European Commission, Ursula von der Leyen, said: ‘Firefighters from across our continent share one mission: to protect people, homes and forests. As part of our largest-ever operation, nearly 800 firefighters will be pre-positioned where the risk is highest. With European aircrafts ready to deploy at a moment’s notice. This is European solidarity in action.’

Through the EU Civil Protection Mechanism, countries affected by wildfires can request operational assistance when national capacities are overwhelmed. The Emergency Response Coordination Centre ensures uninterrupted operations by coordinating offers of assistance and supporting the deployment of personnel, equipment, and specialised capacities provided by participating countries.

Cyprus President Nikos Christodoulides pays this week Kazakhstan an official visit.

At 13:55 today Tuesday, the first direct flight of Air Astana will depart from Larnaca International Airport to the capital of Kazakhstan carrying on the President of Cyprus Republic and his delegation, on the first trip of the President of Cyprus to the largest country in the Caucasus.

President Christodoulides will be officially received at 21:15, local time.

His programme tomorrow includes a meeting with the President of Kazakhstan, the signing of Memoranda of Understanding in the fields of Higher Education, Research, Culture, Sports, Information and Communication Technologies, Cybersecurity and e-Government.

A Memorandum of Understanding will also be signed between the Cyprus-Kazakhstan Chambers of Commerce. President Christodoulides will also inaugurate the offices of the Embassy of the Republic of Cyprus in Astana.

The delegation includes Minister of Foreign Affairs Constantinos Kombos, Minister of Energy, Commerce, and Industry Michael Damianos, Deputy Minister to the President Irene Piki, Deputy Minister of Research, Innovation, and Digital Policy Nikodimos Damianou, and Deputy Government Spokesperson Yiannis Antoniou. The President of the Republic is accompanied by a trade/business delegation.

Cyprus is recording an estimated annual inflation rate of 3.7% in May 2026, up from 3.0% in April, according to a preliminary estimate published on Tuesday by Eurostat.

At euro area level, annual inflation is expected to stand at 3.2% in May 2026, compared with 3.0% in April, according to Eurostat’s flash estimate.

The statistical office reports that, when examining the main components of inflation, energy continues to record the highest annual rate in the euro area, at 10.9% in May, up from 10.8% in April. It is followed by services at 3.5%, compared with 3.0% in April, food, alcohol and tobacco at 2.0%, down from 2.4%, and non-energy industrial goods at 0.9%, up from 0.8%.