The EU needs to be more active in M. East Kombos says before Wicklow Gymnich meeting [VIDEO]

The European Union needs to be more active and more present in the Middle East, Cyprus’ Foreign Minister Constantinos Kombos said Wednesday upon his arrival at the informal Foreign Affairs Council held in Wicklow, Ireland.

‘We are meeting in a time of protracted polycrisis, ranging from Ukraine, the Middle East, and in such times it’s important to have honest, open discussions of a strategic nature. And this is exactly the character, traditionally, of the Gymnich meetings’, Kombos said in his doorstep remarks.

He noted that they would be discussing ‘the continuing Russian aggression against Ukraine’, noting that the EU Foreign Minister would be joined by six of their counterparts from non-EU countries ‘who nonetheless have close links with our EU’. ‘And the message is going to be one of continuing support towards Ukraine, a message that is very clear and very important to be projected, especially towards the high-level week in New York in the next few days’, he added.

Kombos said they would also be discussing how the impact of the External Service can be more effective and efficient, especially within the multilateral framework. ‘In doing so, we have to remember that the EU is the biggest contributor, with 50% in terms of development aid, and 40% globally in terms of humanitarian aid’, he said, noting that that however, ‘is not being translated directly in proportionate terms into expanding the political bandwidth of the EU’. This is an issue that needs to be addressed, he added.

As regards the situation in the Middle East, Kombos noted that ‘this is a situation where diplomacy meets with conflict, and it’s a situation where we are in a perpetual state between war and peace’. ‘And this is extremely dangerous. Whether it relates to Iran, Hormuz, Gaza, the Red Sea. In all this, the European Union needs to be more active and more present’, he said, noting that he was looking forward to the deliberations.

Cabinet approves financial aid for those affected by severe weather, sets criteria

The Council of Ministers decided on Wednesday to provide financial assistance to those affected by the severe weather conditions on August 29, setting out the relevant criteria, Interior Minister, Constantinos Ioannou said after the Cabinet meeting at the Presidential Palace.

Specifically, the Cabinet approved the following criteria for the provision of financial assistance to those affected by the August 29 severe weather:

– Uninsured privately owned permanent residences: financial assistance covering 80% of the assessed damage, up to a maximum of pound 20,000 for damage to the building, and assistance covering the full assessed damage, up to pound 15,000, for damage to equipment.

– Photovoltaic systems at uninsured privately owned permanent residences: assistance covering 80% of the assessed damage, up to a maximum of pound 7,000.

– Uninsured business premises: assistance covering 70% of the assessed value, up to a maximum of pound 30,000 for damage to the building, and assistance covering the full assessed damage, up to pound 10,000, for damage to equipment.

– Uninsured vehicles: assistance covering 75% of the assessed damage, up to a maximum of pound 5,000 per vehicle, provided that the vehicle has a valid road tax, third-party insurance and MOT, or is legally declared off the road.

The Minister said insured homes, business premises and vehicles will receive assistance equal to the assessed damage, up to the insurance excess.

He stressed that assistance will be provided only for buildings with a valid permit and for permanent, licensed structures.

Asked about the total amount of financial assistance to be provided to those affected, Ioannou said that it has not yet been finalised, as not all cases have been assessed.

According to the Interior Minister, preliminary assessments have so far identified damage to 183 homes in Nicosia district, 12 homes, a livestock facility and two vehicles in Larnaca district, as well as 12 homes and a business premises in Paphos district.

Damage has also been recorded at 11 homes in Limassol district and two homes and a church in Famagusta district.

The Minister noted that the damage assessment process by the District Administrations will continue until next Monday, after which ‘we will be able to provide the final number of affected properties and vehicles.’

Cyprus Stock Exchange

Cyprus Stock Exchange

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

MEETING DATE: 01/09/2026

INDICES BASE VALUES: FTSEMed=5000, OTH

EURO (pound )

TRADED VALUE:

540,744.13

INDEX

VALUE

% DIFF.

VALUE (pound )

FTSE/CySE 20

185.760

-0.610

540,508.560

MAIN MARKET INDEX

247.400

-0.720

455,751.980

INVESTMENT COMPANIES MARKET INDEX

2,786.920

-0.680

50,439.630

CSE GENERAL INDEX

316.130

-0.600

540,526.130

HOTELS INDEX

2,035.720

0.000

1,000.000

ALTERNATIVE MARKET INDEX

2,150.140

-0.410

84,992.150

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

Cyprus inflation estimated to 5.2% in August, second-highest in eurozone according to Eurostat

Cyprus’s annual inflation rate rose to 5.2% in August 2026, according to a flash estimate published on Tuesday by Eurostat, up from 4.4% in July. The monthly rate stood at 1.5%.

Cyprus recorded the second-highest inflation rate in the eurozone, with the index on a sharp upward trajectory in recent months: from zero in August 2025, Cypriot inflation climbed gradually to 1.5% in March, 3.0% in April, 3.5% in May, 4.1% in June and 4.4% in July, before reaching 5.2% in August 2026.

At the eurozone level, annual inflation is expected at 3.3% in August, up from 2.9% in July, according to Eurostat, the statistical office of the European Union.

Looking at the main components of eurozone inflation, energy is expected to post the highest annual rate in August, at 14.3%, up from 10.3% in July, followed by services at 3.0%, down from 3.3% in July, non-energy industrial goods at 1.2%, up from 0.9% in July, and food, alcohol and tobacco at 1.2%, unchanged from July.

Among member states, Lithuania recorded the highest inflation in August at 5.8%, with Cyprus in second place at 5.2%.

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

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (B)

FOR THE PERIOD FROM 1200 01/09/2026 UNTIL 1200 02/09/2026

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

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

Seasonal low pressure is affecting the area. The weather will be mainly fine. Risk of local mist and low cloud, at dawn and during early morning, over the east.

Visibility: Good, but moderate to poor in mist

Sea surface temperature: 29°C

Warnings: NIL

AREA PERIOD WIND STATE OF SEA

West Coast

Afternoon West to Northwest 3 to 4, soon 4 Smooth to Slight, soon Slight

Night West to Northwest 3 to 4, gradually near the coast Northwest to Northeast 3 Slight, gradually near the coast Smooth to Slight

Morning Variable 2 to 3, gradually Southeast to Southwest 3 Smooth to Slight

South Coast

Afternoon Southwest to West 3 to 4, gradually locally 4 Smooth to Slight, gradually locally Slight

Night Southwest to West 3, gradually Northwest to Northeast 2 to 3 Smooth to Slight

Morning Variable 2 to 3, gradually Southeast to South 3 Smooth to Slight

East Coast

Afternoon South to Southwest 3 to 4, locally offshore 4 Smooth to Slight

Night Southwest to West 3, gradually West to Northwest 2 to 3 Smooth to Slight

Morning East to Southeast 2 to 3, later Southeast to South 3 Smooth to Slight

North Coast

Afternoon West to Northwest 3 to 4, soon locally 4 Smooth to Slight, soon locally Slight

Night West to Northwest 3 to 4, gradually near the coast Southeast to Southwest 3 Slight, gradually near the coast Smooth to Slight

Morning Southeast to Southwest 2 to 3, later Southwest to West 3 Smooth to Slight

Cabinet to decide on sailing bans until Coast Guard legislation is passed

A decision on banning vessels from sailing, depending on weather conditions and the size of the vessels, is expected to be taken by the Cabinet, Justice and Public Order Minister Costas Fytiris said Tuesday, noting that the decision will remain in force until a bill concerning the establishment of a Coast Guard is passed.

The announcement was made following a meeting held on Tuesday morning at the Joint Rescue Coordination Centre (JRCC), attended by Fytiris, Agriculture Minister Christos Senekis, Deputy Minister of Shipping Marina Hadjimanolis and other officials. The meeting focused on maritime safety and measures to protect people in dangerous weather conditions, in the wake of the incident at Cape Greco, last Saturday, when a man died and two vessels were destroyed after running aground during severe weather conditions.

As stressed, the protection of human life remains ‘top priority’.

Following the meeting at the JRCC, Justice Minister Costas Fytiris said it had been deemed necessary, following the incident at Cape Greco, for the competent ministers to meet to examine what had happened and decide what could be done during the transitional period, given that the Cabinet has already approved the establishment of a Coast Guard.

The minister said the aim was ‘to have a single, unified system of coordination for all maritime activities’.

‘Today, there is a fragmentation of responsibilities that we had identified 60 years ago,’ he said, adding that for that reason, the Government took the decision last March to establish a Coast Guard.

Regarding the Coast Guard bill, Fytiris said it is currently undergoing legal and technical review before being submitted to Parliament for approval, as a government priority.

‘This incident brought to light certain shortcomings which we will address during the transitional period through a series of decisions that were taken today,’ he said.

He noted that a decision will be issued by the Cabinet, ‘hopefully tomorrow’, concerning a ban on vessels leaving port, depending on weather conditions and the size and displacement of the vessels. It will remain in force until the Coast Guard bill is passed, he said.

Fytiris also said that ‘the bill provides for penalties for those who violate the orders that will stem from the legislation’.

Another issue discussed, he said, was monitoring compliance with this decree. This responsibility will be undertaken by the Port and Marine Police, the Police and the Police Helicopter Unit, so that, following the Meteorology Service’s warnings about adverse weather conditions, the coastline can be inspected promptly and anyone outside ports and marinas can be instructed to return to shelter in order to protect themselves.

Regarding the rescue operation concerning last Saturday’s incident, the Justice Minister said it was coordinated by the JRCC ‘with great risk to the helicopters, and this must be acknowledged. Perhaps the worst was avoided. The situation was extremely difficult, with the three vessels close to the rocks; two of them were lost’.

‘We hope and believe that we will put this into practice and prevent such an incident from happening again’, he said, adding that the cooperation of the public and vessel owners was necessary.

The process of collecting, recovering, removing and transporting all debris and waste resulting from the two vessels destroyed in the sea area off Cape Greco begins Tuesday. According to a statement issued by the Ministry of Justice, the collection operation will be carried out by a specialised private company, with the work covering the shoreline, the sea surface and the seabed, with the aim of fully restoring and cleaning up the area.

The Government is also moving ahead with the establishment of a committee on anchorages, which will examine in a comprehensive manner issues relating to safety, the conditions governing vessels remaining at anchor, as well as the collection and proper management of waste, the Ministry said.

‘The aim is to ensure coordination among the state services operating at sea, with clear responsibilities and accountability,’ it stressed.

‘Maritime safety, the protection of human life and the marine environment cannot wait for the completion of institutional procedures. The changes begin now and will be completed with the establishment of the Coast Guard of the Republic of Cyprus,’ the statement concludes.

Tourist overnight stays up 1.7% in the EU, down 7.7% in Cyprus according to Eurostat

Cyprus recorded the largest decline among EU countries in overnight stays at tourist accommodation establishments in the first half of 2026, with a 7.7% decrease compared with the corresponding period of 2025, according to data published by Eurostat on Tuesday.

At the same time, Cyprus recorded one of the highest shares of overnight stays by foreign visitors in the EU. Specifically, non-residents accounted for 92.6% of overnight stays in the country’s tourist accommodation establishments during the first six months of the year, the second-highest share in the EU after Malta.

According to Eurostat, nine EU countries recorded a year-on-year decline in overnight stays, with the largest decreases observed in Cyprus (-7.7%) and Romania (-6.7%).

By contrast, the largest increases were recorded in Ireland (+14.6%), Malta (+9.9%) and Slovakia (+5.9%).

Overall, a total of 1.321 billion overnight stays were recorded at tourist accommodation establishments across the EU in the first half of 2026, compared with 1.299 billion in the corresponding period of 2025. According to Eurostat data, this represented a 1.7% year-on-year increase.

Foreign visitors, meaning non-residents of the country where the overnight stay took place, accounted for 48.9% of all overnight stays in the EU during the first half of 2026.

PRESS RELEASE – EUROPEAN COMMISSION

As pupils and teachers return to school, the European Commission has published a new report providing an overview of recent developments in education spending across Europe, updated to the latest available data from 2024.

The report ‘Investing in Education 2026′ shows that in 2024, EU countries spent 4.8% of Gross Domestic Product on education, accounting for 9.7% of total public expenditure, although significant differences remain between Member States. While education investment in the EU is stabilising, it remains slightly below pre-pandemic levels as a share of public expenditure (10% in 2019, 9.3% in 2020 and 2021; 9.4% in 2022; 9.6% in 2023).

The report stresses the importance of investing in teachers, who are at the core of our education systems. The findings show that over 3 in 4 teachers (76.5%), if given the choice to choose a new profession, would choose to continue to teach. They indicate that several factors, such as remuneration and professional recognition, play an important role in shaping the attractiveness of the teaching profession.

Salary satisfaction continues to be associated with a higher likelihood of choosing the teaching profession again, alongside other factors such as supportive working environments, positive perceptions of the profession and opportunities for professional collaboration also play an important role. In contrast, workplace stress significantly reduces teachers’ willingness to remain in the profession.

Executive Vice-President for Social Rights and Skills, Quality Jobs and Preparedness, Roxana Mînzatu, said: ‘Teachers are the backbone of Europe’s education systems, and investing in education means investing in them. This report makes clear that attracting and retaining teachers is not only about salaries. It is also about working conditions, well-being, professional recognition and opportunities to grow throughout a career. At a time when many education systems face teacher shortages, we need to make teaching a profession that people want to join, stay in and feel valued in. Our upcoming EU Teachers and Trainers Agenda, under the Union of Skills, will support Member States in doing exactly that.’

Commission seeks views on EU rules for cross-border civil and commercial disputes

Today, the European Commission launched an open public consultation and a call for evidence to gather feedback on a possible revision of EU rules governing jurisdiction and the recognition and enforcement of judgments in cross-border civil and commercial cases (‘Brussels Ia Regulation’). The consultation will help assess how the current rules are working in practice and identify possible improvements to strengthen legal certainty, improve access to justice, reduce administrative burdens and support the competitiveness of EU businesses operating across borders.

The current rules are a cornerstone of judicial cooperation in civil and commercial matters in the EU. They establish common rules to determine which courts have jurisdiction in cross-border disputes and ensure that court judgments can be recognised and enforced across Member States. This helps citizens and businesses resolve their disputes with parties from different EU countries more efficiently, supporting the functioning of the Single Market and making the EU a more attractive place in which to invest and do business.

A recent Commission application report found that the rules continue to function well and have generally achieved their objectives. At the same time, it identified areas where targeted improvements could help modernise the framework, simplify procedures and better align the rules with digital developments and evolving litigation patterns.

Both the public consultation and the call for evidence will run for 12 weeks, until 24 November 2026. More information on how to participate is available online.

Commission clears acquisition of Caiba and Nosoplas by Portobello, Cobega and Sonab

The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Caiba, S.A. and Nosoplas, S.L.U. by Portobello Capital Fondo IV, FCR (‘Portobello’), Cobega, S.A. and Sonab, S.L., all of Spain.

The transaction relates primarily to the polyethylene terephthalate packaging market.

The Commission concluded that the notified transaction would not raise competition concerns, given its limited impact on competition in the markets where the companies are active. The notified transaction was examined under the normal merger review procedure.

Commission clears acquisition of AERIAN by Tikehau and Aciturri

The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Aerian France SAS (‘AERIAN’) by Tikehau Capital SCA (‘Tikehau’), both of France, and Aciturri Aeroengines S.L.U. (‘Aciturri’) of Spain.

The transaction relates primarily to the aero-engine component sector.

The Commission concluded that the notified transaction would not raise competition concerns, given that the joint venture has negligible activities in the European Economic Area and the companies’ limited combined market position resulting from the proposed transaction. The notified transaction was examined under the simplified merger review procedure.

More information is available on the Commission’s competition website, in the public case register under the case number M.12423.

Commission clears acquisition of VTS by Accenture

The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of VTS S.p.A. of Italy by Accenture plc of Ireland.

The transaction relates primarily to the provision of IT services in the banking sector.

The Commission concluded that the notified transaction would not raise competition concerns, given the companies’ limited combined market position resulting from the proposed transaction. The notified transaction was examined under the simplified merger review procedure.

Strong growth in retail trade in July

Retail trade in Cyprus recorded strong growth in both value and real sales volume in July, with the Retail Trade Turnover Volume Index, excluding motor vehicles, increasing by 8.9% compared with the corresponding month of 2025, according to data released by the Statistical Service of Cyprus.

The Turnover Value Index increased by 11.0%, while over the seven-month period from January to July 2026, the increase stood at 7.9% in value and 6.3% in volume.

In motor fuels, turnover in value increased by 17.2%, while volume rose by just 3.4%, due to the higher prices recorded.

In contrast, in several categories, the increase in volume was greater than the increase in value. In information and communication equipment, sales volume increased by 25.6%, compared with a 14.2% increase in value.

In other household equipment, which includes building materials, carpets, furniture, electrical appliances and lighting equipment, value increased by 15.0% and volume by 16.9%.

In clothing and footwear, sales value increased by 9.5%, while volume rose by 16.4%. In educational and recreational goods, the corresponding increases were 11.1% and 13.2%.

An even stronger increase was recorded in retail sales outside stores, with value rising by 15.2% and volume by 17.0%.

For non-food products overall, turnover in value increased by 11.7%, while volume rose by 13.6%. For food products, by contrast, value increased by 9.0%, compared with a 5.0% rise in volume, indicating a greater contribution from prices to the increase in turnover.

In food, beverages and tobacco sold in non-specialised stores, mainly supermarkets, sales value increased by 9.8% and volume by 6.0%. In specialised food, beverage and tobacco stores, value increased by 4.0%, while volume declined by 0.9%.

An increase was also recorded in pharmaceutical and orthopaedical goods and cosmetics, with value rising by 7.0% and volume by 6.5%. In flowers, plants, watches, jewellery, optical goods and second-hand goods, the corresponding increases were 10.8% and 3.7%.

Unemployment in Cyprus below EU average, according to Eurostat

The seasonally adjusted unemployment rate in Cyprus stood at 3.9% in July 2026, up from 3.8% in June but down from 4.3% in July 2025, according to data published by Eurostat on Tuesday.

Eurostat estimates that the number of unemployed people in Cyprus stood at 21,000 in July, compared with 20,000 in June and 23,000 in the corresponding month of the previous year.

The data also show a difference between men and women unemployment in Cyprus. The unemployment rate for men rose to 3.7% in July, from 3.6% in June, while the rate for women increased to 4.2% from 4.0%. In July 2025, the corresponding rates were 4.1% for men and 4.7% for women.

As regards youth unemployment among people under the age of 25 in Cyprus, Eurostat does not provide a rate or number of unemployed persons for July 2026. In June, the youth unemployment rate in Cyprus stood at 11.9%, with around 3,000 young people unemployed, compared with 13.0% and 4,000 people, respectively, in July 2025.

At EU level, the seasonally adjusted unemployment rate stood at 6.1% in July 2026, unchanged compared with June and up from 6.0% in July 2025, according to Eurostat. In the euro area, unemployment also remained unchanged on a monthly basis, at 6.4%, compared with 6.3% in July of the previous year.

Eurostat estimates that 13.516 million people were unemployed in the EU in July, of whom 11.264 million were in the euro area. Compared with June, the number of unemployed people decreased by 41,000 in the EU, while remaining unchanged in the euro area. On an annual basis, however, unemployment increased by 296,000 in the EU and by 175,000 in the euro area.