Category: Cyprus News Agency

Weather Temperature for Cyprus

Today’s weather and temperatures for Cyprus according to the Department of Meteorology

Date 25/05/2026

Station

TEMPERATURE (C) (FROM 20:00 PC of the previous one until the time of the show)

Humidity at

1200 UTC

Highest

Lowest

Nicosia (Athalassa)

26

14

52

Larnaka Airport

26

16

60

Limassol

25

15

61

Pafos Airport

24

17

67

Frenaros

26

16

62

Prodromos

16

8

100

Polis Pafos

24

16

70

Central Bank of Cyprus’ active role within the Single Supervisory Mechanism and the Single Resolution Mechanism was highlighted during a visit of ECB and SRB officials to the island, CBC said in a post on X.

Last week the Central Bank of Cyprus welcomed the Chair of the Supervisory Board, Claudia Buch, and the Chair of the Single Resolution Board (SRB), Dominique Laboureix, the post said.

“The joint visit reflected the Central Bank of Cyprus’ active role within the Single Supervisory Mechanism and the Single Resolution Mechanism, providing an opportunity to exchange views on key supervisory and resolution matters, including developments and priorities relating to the Cyprus banking sector”, the post reads.

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (C)

FOR THE PERIOD FROM 1800 25/05/2026 UNTIL 1800 26/05/2026

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1017hPa (hectopascal)

Weak low pressure and unstable air mass are affecting the area. Mainly fine weather with increased low cloud coverage, Mist or fog mainly over the western and eastern coastal areas.

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

Sea surface temperature: 21°C

Warnings: NIL

AREA

PERIOD

WIND

STATE OF SEA

West Coast

Night

Northwest 3 to 4, gradually near the coast North to Northeast 3

Smooth to Slight

Morning

Variable 3

Smooth to Slight

Afternoon

Northwest 3 to 4

Smooth to Slight

South Coast

Night

Southwest to West 3 to 4, gradually Northwest 3

Smooth to Slight

Morning

Variable 3

Smooth to Slight

Afternoon

Southwest 3 to 4

Slight

East Coast

Night

West to Northwest 3

Smooth to Slight

Morning

Variable 3

Smooth to Slight

Afternoon

Southwest 3 to 4

Smooth to Slight

North Coast

Night

Southwest to Northwest 3, soon near the coast Southeast to Southwest

Smooth to Slight

Morning

Variable 3

Smooth to Slight

Afternoon

West to Northwest 3 to 4

Smooth to Slight

Time of issue: 1700 Date: 25/05/2026

Cyprus is entering 2026 with strong macroeconomic foundations, restored fiscal credibility, and a resilient banking sector, said Eurobank Deputy CEO Haris Hambakis, speaking at the 5th ICPAC Mediterranean Finance Summit 2026. He noted that the banks that will stand out will be those that manage to adapt in a timely manner, aligning strategy, technology, and culture, and continuing to support the real economy with consistency and reliability, he noted.

According to a press release from the bank, the 5th ICPAC Mediterranean Finance Summit 2026, held with the support of Eurobank, brought together leading representatives of the financial sector, institutional bodies, and business executives from Cyprus and abroad, and the conference focused on geopolitical challenges and the transformation of the banking sector.

As the discussion revealed, international developments and changes in trade and financing costs not only affect the short-term trajectory of economies but are also redefining the operating model of banks.

In this context, Hambakis noted that maintaining this positive trajectory is not a given, as it will depend increasingly on boosting productivity, implementing targeted investments, the consistency and reliability of policy decisions, as well as the effective management of geopolitical and climate risks.

He also highlighted that the banking sector is gradually transitioning to a more customer-centric and data-driven model, where flexibility, rapid responsiveness, and the use of technology are key differentiators.

He added that banks are called upon to evolve into simpler and more flexible organizations, accelerating their digital transformation, adding that this includes modernizing core infrastructure, strengthening digital service channels, and leveraging data and automation to improve efficiency and the quality of decision-making.

At the same time, he analyzed the importance of internal transformation, emphasizing accountability, collaboration, speed of decision-making, and strengthening organizational culture.

Hambakis also noted that the combination of diversified growth, fiscal discipline, and a strong banking system places Cyprus in a favorable position within the European context. However, he noted that, in an era of structural changes and uncertainty, resilience alone is not enough. He pointed out that the question now is not whether banks will change, but how effectively they will do so.

Eastern Mediterranean Policy Notes | Issue 123c, May 2026

EMPN Issue 123c, May 2026

Eastern Mediterranean Policy Note

Issue 123c, May 2026

EASTERN MEDITERRANEAN POLICY NOTE

entitled

‘PERSPECTIVES ON THE EU ECONOMY AND THE IMPORTANCE OF ENHANCING COMPETITIVENESS’

by

Andreas Theophanous

The Cyprus Composite Leading Economic Index (CCLEI) deteriorated further in April 2026, recording a year-over-year decrease of 1.72%, according to an announcement by the Economics Research Centre of the University of Cyprus. The decline followed a marginal year-over-year decrease in March, after a year-over-year increase of 0.82% recorded in February.

According to the Economics Research Centre, the further deterioration of the Index mainly reflects adverse developments in key components, amid increased geopolitical and external economic pressures.

In particular, economic sentiment in the euro area and especially in Cyprus deteriorated in April 2026 compared with April 2025, leading to a year-over-year decrease in the weighted Economic Sentiment Indicator. At the same time, the price of Brent crude oil recorded a larger year-over-year increase in April, following the annual increase already recorded in March.

Tourist arrivals also contributed negatively, as, according to the announcement, they were affected by flight cancellations and possible fuel shortages, recording a significant year-over-year decrease in April.

By contrast, the temperature-adjusted volume of electricity production, property sales contracts, credit card transactions and the retail sales volume index contributed positively to the year-over-year growth rate of the CCLEI.

The Economics Research Centre said the year-over-year decrease in the CCLEI in April indicates a weakening of the growth dynamics of the Cypriot economy in the short term, in an environment of heightened geopolitical tensions and intensifying external economic pressures.

The CCLEI is designed to provide early warning signals of turning points in business cycles, namely turning points in Cypriot economic activity.

The Index consists of a number of leading variables of Cypriot economic activity, whose changes tend to precede changes in overall economic activity. These include the Brent crude oil price, the Economic Sentiment Indicator in Cyprus and the euro area, property sales contracts, tourist arrivals, Cypriot credit card transactions, the retail trade sales turnover volume index and the temperature-adjusted volume index of electricity production.

Deputy Minister for European Affairs Marilena Raouna will chair the General Affairs Council of the European Union that will take place on the 26th of May in Brussels.

According to an official press release, the Council will discuss the preparation of the European Council Summit, which will take place on 18-19 June 2026 in Brussels, where important issues are expected to be discussed, such as developments in Ukraine and the Middle East, the new Multiannual Financial Framework, global economic challenges in the light of strengthening the competitiveness and strategic autonomy of the EU, European defence and security, migration, and the European Semester.

The agenda of the Council also includes EU-UK relations, as well as a public debate on the proposal for the Multiannual Financial Framework 2028-2034 with a focus on the single market.

Ministers are also expected to hold country-by-country discussions in the framework of the annual rule of law dialogue on France, Croatia, Italy and Latvia.

An informal breakfast on the future of Europe will also be organised during which Ministers will exchange views on the strategic foresight analysis, while the Commission will briefly present its strategy on intergenerational justice.

Moreover, Raouna will chair, on behalf of the EU, the 8th EU-Albania Intergovernmental Conference, which will take place in the afternoon of the same day.

On the sidelines of the Council, the Deputy Minister will hold bilateral meetings with her counterparts and officials from EU institutions, the press release concludes.

European University Cyprus Students Support Special Olympics Cyprus through Volunteering and Community Service

European University Cyprus (EUC) reaffirmed its longstanding commitment to community engagement, inclusion, and health promotion through the participation of its students in the Special Olympics Healthy Athletes Screening Event, held on April 29, 2026, in Nicosia.

The EUC Special Olympics Club in collaboration with over 30 volunteer students and a team of dedicated volunteer physicians and healthcare professionals, conducted a comprehensive preventive medical screening for athletes of Special Olympics Cyprus. The event brought together a multidisciplinary team of volunteers to deliver a wide range of health assessments, reflecting the EUC’s longstanding commitment to community service and the well-being of people with special capabilities. The screenings included assessments in vision, nutrition, oral/dental health, physical therapy, and overall wellness.

Led by the Club’s own members and Lions International ophthalmologists, the EUC Special Olympics Club successfully carried out vision screenings for more than 55 athletes. The initiative extended well beyond eye care, with participants also receiving dental, podiatric, physiotherapy, and nutritional assessments.

Special thanks were extended to the Medical, Dentistry, and Nutrition and Dietetics students at European University Cyprus, whose dedicated involvement was invaluable in supporting the multidisciplinary health assessments provided to the athletes.

The initiative provided students with a unique experiential learning opportunity, enabling them to apply their academic knowledge in real-world settings, collaborate with professionals from diverse healthcare disciplines, and offer meaningful support to athletes who embody strength, perseverance, and dignity. The EUC Special Olympics Club continues to champion humanitarian causes across Cyprus, consistent with the mission of EUC.

“Events like these embody the very spirit of Volunteering, serving those who need us most, and doing so with skill, compassion, and teamwork,” said by the Advisor of the Special Olympics Student Club Prof. Dia Voniatis. “We are proud of every volunteer who gave their time and expertise to make this day possible.”

Special Olympics Cyprus praised the initiative as a meaningful contribution to the health and welfare of its athletes, who benefit greatly from regular preventive care.

Education with Social Impact

At European University Cyprus, the student experience extends far beyond the classroom and laboratory. Through structured volunteering initiatives, community outreach activities, and collaborations with leading organizations in Cyprus and abroad, students develop essential skills while cultivating a strong sense of social responsibility.

EUC actively encourages student participation in initiatives that advance health, dignity, and equal opportunities for all, preparing graduates who combine scientific expertise with a human-centered approach and a genuine commitment to serving society.

European University Cyprus continues to foster a vibrant academic community where academic excellence is closely linked to social responsibility, demonstrating that knowledge achieves its greatest value when translated into action and has a positive impact on the wider community.

Petros Nacouzi was elected on Sunday as the new representative of the Maronite Religious Group in the House of Representatives.

An official announcement said that, according to the Returning Officer for Representatives of the Maronite, Armenian, and Latin Religious Groups, out of 4,624 registered voters, 3,186 voted (68.90%), while abstentions totaled 1,438 (31.10%). A total of 3,125 ballots (98.09%) were valid, 34 (1.07%) were invalid, and 27 (0.84%) were blank.

Marios Mavrides received 1,519 votes (48.61%), while Petros Nacouzi received 1,606 votes (51.39%).

Based on these results, Nakouzi is elected as the Representative of the Maronite Religious Group in the House of Representatives of Cyprus. His official proclamation will take place today at 12 noon at the Nicosia Municipal Theatre.

The representatives of the Latin and Armenian religious groups were elected unopposed.

Institute of Certified Public Accountants of Cyprus (ICPAC) signed a Memorandum of Understanding with the Institute of Chartered Accountants of India (ICAI), one of the most important and largest professional accounting bodies internationally, in the context of the recent official visit of President Nikos Christodoulides to India.

A press release by ICPAC issued Monday says that the agreement constitutes an important milestone for the further strengthening of professional and business relations between Cyprus and India and confirms the Institute’s strategic commitment to developing high-value-added international partnerships with leading professional bodies worldwide.

The Memorandum was signed in India by Chrysilios Pelekanos, President of the Cyprus-India Business Association, who was authorized by the President of ICPAC, Odysseas Christodoulou, to sign on behalf of the Association, within the framework of the official Cyprus delegation to India.

ICAI, the press release reads, is among the most influential professional accounting bodies internationally, playing a decisive role in the development, regulation and evolution of the profession at an international level.

The press release says that through the Memorandum, the two organizations create a comprehensive framework for cooperation in areas of common interest, including the exchange of know-how and best practices, professional education and continuing training, the development of joint professional and educational initiatives, the organization of conferences as well as the enhancement of the quality and international recognition of the accounting and auditing profession.

As part of the visit, a meeting was also held with the High Commissioner of India, Manish Manish, confirming the excellent level of relations between the two countries and the significant prospects for further development of bilateral professional and business cooperation.

The signing of the Memorandum is part of ICPAC’s ongoing strategy to strengthen its international presence and further consolidate Cyprus as a reliable and competitive international center for professional services, the press release further reads.