Cyprus and Brazil establish Business and Investment Council

The establishment of a Cyprus-Brazil Business and Investment Council aims to strengthen investment flows and promote business partnerships between the two countries, following the signing of a Memorandum of Understanding (MoU) between Invest Cyprus, the Cyprus Chamber of Commerce and Industry (CCCI) and Brazil’s Fecomércio Goiás.

According to a press release by Invest Cyprus, the agreement was reached during the Cyprus-Brazil Business Forum and B2B Networking Event, held in Nicosia on Thursday, bringing together institutional representatives and business leaders from both countries.

The event coincided with the first organised Brazilian business delegation of its kind to visit Cyprus, marking a milestone in Invest Cyprus’ systematic efforts over the past three years to strengthen investment relations with Brazil and expand cooperation with the wider Latin American market.

The newly established Council aims to serve as a permanent platform for promoting investment, developing business partnerships and strengthening institutional ties between the two countries. It will also facilitate Brazilian companies’ access to European and Middle Eastern markets through Cyprus, while creating opportunities for Cypriot businesses seeking to expand into Brazil and Latin America.

Minister of Energy, Commerce and Industry Michalis Damianos welcomed the Brazilian delegation and reaffirmed the Cyprus Government’s commitment to supporting further business and investment cooperation between the two countries.

CCCI President Stavros Stavrou also welcomed the delegation and acknowledged the contribution of Invest Cyprus, Cyprus Ambassador to Brazil Dr Vasilios Philippou, and Brazil Ambassador to Cyprus Ana Maria De Souza Bierrenbach to the promotion of bilateral relations.

Fecomércio Goiás President Marcelo Baiocchi Carneiro highlighted the favourable conditions for closer cooperation between Cyprus and Brazil. He referred to the strategic advantages Cyprus offers Brazilian companies seeking access to Europe and the wider Middle East and North Africa (MENA) region, as well as the opportunities Brazil provides for Cypriot businesses interested in expanding into Latin America.

Invest Cyprus Chairman Evgenios Evgeniou stressed the importance of translating institutional partnerships into concrete business and investment opportunities. He highlighted Cyprus’ strategic geographical location, EU membership and well-developed business ecosystem as key advantages for international investors.

Invest Cyprus CEO Marios Tannousis presented the competitive advantages of the Cypriot economy, its favourable business environment and investment opportunities across key sectors of economic activity.

The initiative builds on Invest Cyprus’ strategic engagement with the Brazilian market, which includes cooperation agreements with Invest Paraná, Invest Minas and Fecomércio Goiás, as well as the Portuguese-Brazilian Chamber of Commerce.

Sectors offering significant potential for further cooperation include shipping, transport and logistics, technology, financial services, energy and agribusiness.

The Forum also featured targeted business-to-business (B2B) meetings, giving companies from both countries the opportunity to explore potential partnerships and joint investment initiatives.

Invest Cyprus expressed its appreciation to Fecomércio Goiás, the ambassadors and the Ministries of Foreign Affairs of Cyprus and Brazil, as well as the CCCI, for their valuable contribution to the successful organisation of the event.

According to Invest Cyprus, the establishment of the Cyprus-Brazil Business and Investment Council lays the foundations for stronger long-term investment flows, the development of new business partnerships and deeper economic cooperation between the two countries.

Rain and thunderstorms to ease from tomorrow, Meteorology Department tells CNA

The weather is expected to improve significantly as of tomorrow, with rain and thunderstorms subsiding, Michalis Mouskos, a Senior Meteorological Officer at the Department of Meteorology, told the Cyprus News Agency (CNA) on Thursday.

A low-pressure system bringing unstable weather conditions will affect the region through Saturday; however, its impact will be more pronounced today than on Friday or Saturday, Mouskos said, noting that some showers are already occurring in the western half of the island.

Until 18:00 intermittent rain and brief thunderstorms (though neither intense or prolonged) are expected in the interior, the western half of the island, and along the northern coast.

“Tonight, the weather will improve considerably in the interior and mountainous regions, where no precipitation is expected. Along the coast, however, there remains a possibility of isolated rain showers,” though these will be “nothing significant or noteworthy,” he pointed out. Another phenomenon expected late tonight and tomorrow morning is the possibility of patchy fog in inland areas, said Mouskos.

Tomorrow morning, there may be isolated rain showers along the coasts; however, by the afternoon, rain or even brief thunderstorms are expected inland, in the mountains, and along the northern coasts, he noted, clarifying that these occurrences will be less frequent than today.

Temperature, both today and tomorrow is expected to be around 26°C which at least for inland areas, is 3°C below the seasonal average, he further said. For the coastal regions -particularly in the west and north- it is close to the average of 27°C,” he told CNA, adding that temperatures will remain around 26°C through Monday.

On Saturday, isolated rain showers are expected during the day, while at night, more localised rain is anticipated, primarily across the western half of the island, Mouskos noted. “We do not expect any significant weather phenomena on Sunday or Monday; the weather will be mostly clear, with some intervals of increased cloudiness. As things stand, nothing worth noting is expected for next week, at least until Wednesday unless there is a significant change,” he added.

“Essentially, the weather will improve significantly starting tomorrow,” he noted, adding that “there are no notable weather phenomena today.”

Justice Minister at CYCLOPS training programme closing ceremony

Minister of Justice and Public Order, Costas Fytiris, attended the graduation ceremony for a specialised training programme at the CYCLOPS Training Centre today, in the presence of the Commander of the Egyptian Border Guard Forces.

According to a Justice Ministry press release on Thursday evening, eight officers from the Egyptian Border Guard and eight officers from the Cyprus Port Police took part in the programme, receiving training in ship search procedures, vessel inspections and the management of dangerous incidents at sea.

It is added that, in his address, the Minister emphasised the importance of specialised training for operational readiness and the protection of human life, whilst also highlighting the Government’s political commitment to further strengthening the strategic cooperation between Cyprus and Egypt, particularly in the field of maritime security.

Fytiris congratulated the participants and thanked the CYCLOPS Training Centre and the agencies that contributed to the programme’s implementation, the press release concludes.

President highlights need for flexibility on national energy measures and MFF deal by end of 2026 in view of EU Summit

President of the Republic, Nikos Christodoulides, highlighted five key issues upon his arrival at the European Council on Thursday in Brussels with the first one being the need for further flexibility in adopting national measures on energy costs and the suspension of the implementation of the Emissions Trading System 2 (ETS 2). He also insisted on the need for a political agreement on the Multiannual Financial Framework (MFF) by the end of the year, and pointed to December as the month of developments on Cyprus’s accession to Schengen.

On energy costs, Christodoulides noted that ‘our request is simple and clear: the need for the European Union to show further flexibility in allowing national measures, but at the same time a further suspension of the implementation of ETS 2, is something that several member states are asking for. We will support it,’ he added.

Referring to the illegal Turkey-Turkish Cypriot pseudostate “memorandum of cooperation”, he said the issue would be raised in the energy discussion, together with the Greece-Cyprus electricity interconnection (GSI). ‘We will refer to the geopolitical, energy and economic importance of the GSI, and we will also refer to Turkey’s illegal efforts in relation to this matter,’ he added.

On the MFF, the President welcomed the new proposal of the EU Irish Presidency, which builds on the proposal submitted during the Cyprus Presidency. ‘The first thing I want to say is that of course we understand and support the need to strengthen new EU policies, Defence and Security, Competitiveness, Migration, but at the same time this must not come at the expense of the Common Agricultural Policy, the Cohesion Fund, Cohesion Policy, from which European citizens benefit,’ he noted.

Christodoulides expressed hope for progress and said he expects an extraordinary summit in November. ‘I hope that today we will have substantial progress. I believe there will also be an extraordinary European Council in November. There are some political developments, such as the elections in Spain, the result in Sweden, which may create some issues for us. It is essential that we have a political agreement by the end of the year, otherwise things will clearly become more difficult and I believe we will send a negative message both to European citizens and to the world in general,’ he added.

Asked by CNA whether the MFF discussion should be ‘unlocked’ by new own resources, the President replied that ‘for us, the MFF discussion is primarily a political discussion, it is not an economic discussion. It is a political discussion which must reflect the EU’s priorities for the next period, and we know very well where we need to focus.’

He then referred to political developments in member states, noting that ‘the second political element of this discussion is the fact that we do not have a government in Sweden. Efforts are underway to form a government, with nothing ruled out.’

In addition, ‘at the same time there are the elections in Spain. We don’t know the result, we don’t know whether it will be possible to form a government. And at the same time, in 2027, elections in France, in Italy, in Poland, possibly in other member states. So it is very important that an agreement is reached before the end of the year,’ he noted.

On the shaping of the package, the President referred to an 8% reduction by the Irish compared with the Commission’s proposal. ‘It is not something we agree with, but, because at the end of the day it is a compromise, I believe this reduction will increase a little more, we will have a double-digit reduction: 10%, 11%, 12%, but the most important thing is to have a political agreement by the end of the year,’ he said.

He noted that the MFF would dominate the discussions. ‘I believe the MFF will dominate. We have a new negotiating framework before us and, of course, the issue of energy, which relates to the EU’s competitiveness, and the cost that families and businesses are called on to bear from a prolonged and unprecedented crisis,’ he said.

Referring to Lebanon, the President welcomed ‘the decision to set up an EU mission. As the Republic of Cyprus, we are ready for our country to be used as the operational hub, given the proximity to Lebanon, the external relations with Lebanon, but we also have the infrastructure for training,’ he said.

‘You know the CYCLOPS Training Centre, which was established in the Republic of Cyprus together with the United States. It has already trained people from 50 countries in the region. We are ready to take on this very important role,’ the President noted.

On migration, he said Cyprus’s actions ‘can be used as a model’, as they ‘have led to a reduction of more than 90% in arrivals – a 180% increase in returns, always compared with 2022.’ He also expressed support for a European emergency mechanism, which the Commission is expected to propose, ‘especially when we see instances of instrumentalisation, we saw many countries instrumentalising migration.’

On Cyprus’s accession to the Schengen area, he said that, as he has already done with Commission President, Ursula von der Leyen, he would have the opportunity to discuss with his counterparts Cyprus’s application for full accession. ‘All the technical processing has already been completed and we hope that within December the issue will be discussed at the competent council, so that the final political decisions can be taken,’ he said.

Asked about the Trump-Putin agreement and the fact that the EU was neither informed nor party to it, Christodoulides told CNA that ‘certainly it is something that will be discussed, it is something that concerns us. It would clearly have been better if there had been coordination between the United States and the European Union on this matter. Our priority is to look at our own house, what we do as the European Union, as member states, and that is why we clearly support further flexibility on the part of the European Union in relation to the adoption of national measures,’ he noted.

On China and competitiveness, he expressed that belief ‘taking into account the discussion we had here in the European People’s Party”, that “there is a clearly stronger common approach on how the European Union should approach China. So we do not expect particularly difficult discussions on this issue.’

Asked about the Strait of Hormuz remaining closed and the war front extending to the Red Sea with the Houthis, the President replied: ‘I expect us all to move in the same direction,’ pointing first to ‘measures with immediate impact on citizens, primarily on households, families, businesses.’

Second, he cited institutional measures that cannot be implemented immediately because of the preparatory work required, but ‘which will help the European Union reduce its dependence on the region. And it is within this framework that we will also refer to the GSI, the importance of the GSI, of the interconnection of member states.’

Third, ‘which at least we in Cyprus are moving towards, is strengthening citizens’ disposable income so that they can respond, among other things, to the new challenges,’ he added.

On the EU-Gulf Cooperation Council (GCC) summit, the President said confirmation is expected on whether it will take place. ‘If the summit takes place, Cyprus will be there, and what we are aiming out of this summit is to have concrete deliverables that we will bring the region, the Gulf, and the European Union closer together,’ he note.

He recalled that ‘that was one of our main priorities during our Presidency,’ noting that an informal meeting was held in Cyprus with the participation of Egypt, Jordan, Lebanon, the Gulf states and Syria, where Cyprus was ‘a strong advocate’ of the EU coming much closer to the region. He added that ‘until this moment, we don’t have a final decision.’

On the EU as a security provider in the Gulf, he said that ‘of course we need to be a security provider in the Middle East, in the Gulf. Our security, the security of the Gulf, the security of the European Union are linked, so we need to work together and have a much more active role also in security but in other aspects.’

Asked in conclusion whether Cyprus would welcome Britain back into the EU, Christodoulides replied that ‘if Britain is ready to come back, we’re ready to welcome them.’

Defence Minister focuses on SAFE, strengthening deterrence during IRIS-2026 exercise

The utilisation of the EU’s SAFE programme, the implementation of the multi-year defence procurement programme and the enhancement of the Republic of Cyprus’ defence capabilities were the focus of Defence Minister Vasilis Palmas on Thursday, as he addressed the final phase of the IRIS-2026 Field Exercise.

The Minister said that maintaining a high level of defence and deterrence capability was a fundamental prerequisite for the National Guard to fulfil its mission and safeguard the security of the Republic of Cyprus.

He noted that every military exercise provided an opportunity to further train personnel, while also serving as a means of assessing discipline, operational readiness, the effectiveness of procedures and coordination between different units and formations.

Palmas said that, since its establishment, the National Guard had been a key pillar in safeguarding the independence, sovereignty and territorial integrity of the Republic of Cyprus.

Referring to the international security environment, he noted that it was becoming increasingly complex, prompting the Republic of Cyprus to consistently pursue the substantial enhancement of its operational capabilities.

In this context, he said that the multi-year defence procurement programme was being implemented through the modernisation of existing systems and investment in the acquisition of advanced equipment, with the aim of strengthening operational capabilities in critical areas.

At the same time, he said that the Republic of Cyprus intended to make full use of the European Union’s SAFE financial instrument, while also seeking to ensure that its benefits extended to the domestic defence industry.

According to the Minister, efforts to strengthen defence diplomacy included establishing new defence partnerships and deepening existing cooperation with countries in the region and key international actors. Meanwhile, the upgrade of naval and air force infrastructure was progressing.

Palmas said that personnel were the Ministry of Defence’s foremost priority. He noted that investment was being made in staff training and professional development, while measures were also being taken to support career progression and advancement.

The Minister linked the strengthening of Cyprus’ defence to the circumstances facing the Republic, 52 years after the Turkish invasion and amid the ongoing Turkish occupation.

In his own address, National Guard Chief, Lieutenant General Emmanouel Theodorou said that the National Guard was entering a new era built around four key pillars: the modernisation of equipment and infrastructure, the adoption of modern, innovative practices, improved survivability through the undergrounding of infrastructure and functions and the delivery of modern, realistic training for personnel.

He noted that, in response to the political leadership’s determination to introduce modern practices into the National Guard’s operational activities, for the first time in a training exercise of this kind, incorporated unmanned aerial vehicles (UAVs) and anti-drone systems, were used, during IRIS.

These, he said, were capabilities being deployed on a large scale in conflicts unfolding around Cyprus. Some of the systems were manufactured in Cyprus by domestic companies, while others were being developed by National Guard personnel in a dedicated prototype laboratory established just a few months ago, he noted.

The National Guard Chief also referred to the combined deployment of unmanned systems alongside F-16 fighter aircraft from the Hellenic Air Force, new H145 helicopters, special forces, artillery, mortars, tanks and infantry.

He said that the use of these assets had provided an insight into the modern battlefield and the level of operations being conducted in such an environment.

Greece and Cyprus to hold joint mass casualty incident exercise on October 20

Greece and Cyprus are joining operational forces for the transnational exercise “SYNASPIS 2026,” which will take place on October 20 on the Greek island of Andros. The exercise aims to strengthen the two nations’ preparedness and coordination in responding to incidents involving a large number of casualties. It is organised by the National Centre for Emergency Care (EKAB) of Greece and the Ambulance Service of Cyprus (under the State Health Services Organisation – SHSO/OKYpY), with the support of the Municipality of Andros.

The State Health Services Organisation (SHSO/OKYpY) said in a press release on Thursday that the exercise will be conducted in a semi-mountainous area near Chora, Andros. The operational scenario involves a road accident in which a tourist bus veers off the road and plunges, resulting in a mass-casualty incident. The drill aims to simulate procedures for rapid mobilisation, operational coordination, casualty triage, rescue operations, the provision of pre-hospital care, and patient transport.

“Cooperation between Greece and Cyprus in emergency pre-hospital care strengthens the readiness of both countries to respond to major incidents and disasters” it is noted. Of particular importance is the response in island and hard-to-reach areas, as well as the simultaneous management of a large number of casualties, the announcement continues.

The press release notes that “SYNASPIS 2026” represents a significant step toward further strengthening operational cooperation between Greece and Cyprus, laying the groundwork for new joint training initiatives and enhancing the capacity for mutual assistance. The conclusions drawn from the exercise will contribute to evaluating the procedures implemented, identifying areas for improvement, and bolstering a coordinated response to mass-casualty health incidents.

Furthermore, it highlighted that “the exercise will provide political and administrative leadership with the opportunity to observe the operational capabilities of the participating teams firsthand, underscoring the critical importance of continuous training, operational readiness, and cross-border cooperation.”

“Through joint training and the exchange of expertise, EKAB and the Cyprus Ambulance Service are strengthening their collaboration and their ability to respond in a coordinated and effective manner to complex emergency situations-with the protection of human life remaining a steadfast priority,” the press release concluded.

Cyprus-Israel talks on Aphrodite-Ishai gas field continue, CNA learns

New talks were held online on Wednesday afternoon between technical experts from Cyprus and Israel in an effort to reach an agreement on the shared natural gas reservoir between Cyprus’ Aphrodite gas field and Israel’s Ishai field, CNA has learned.

According to the same information, no agreement was reached during the talks and discussions will continue at a new meeting to be scheduled very soon.

Technical experts and legal advisers from both countries participated in the discussions, along with the operators of the two gas fields.

The dispute between the two countries stems from the fact that the natural gas reservoir of the Aphrodite field, located in Block 12 of Cyprus’ Exclusive Economic Zone (EEZ), extends geologically into the Ishai field in Israel’s EEZ. The operator of Aphrodite is the US-based Chevron.

Agricultural area managed by women in Cyprus at 6.5% in 2023, according to Eurostat

The share of utilised agricultural area in Cyprus managed by women farm managers stood at 6.5% in 2023, below the EU average, according to data published by Eurostat on Thursday.

At EU level, women managed 17.2% of the utilised agricultural area in 2023. Eurostat noted that where women are responsible for agricultural holdings, these are more likely to be relatively small, while generational renewal may gradually increase their participation in larger and more commercially oriented farming systems.

Of the 241 NUTS 2 regions for which data were available, 134, or 55.6%, recorded a share of utilised agricultural area under female management below the EU average.

The lowest share was recorded in the Dutch region of Friesland, where women managed 2.7% of the utilised agricultural area, corresponding to around 6,000 hectares.

At the other end of the scale, the highest share was recorded in the region of Upper Austria, at 42.5%, corresponding to around 211,600 hectares managed by women.

IMF forecast for Cypriot economy is encouraging, Finance Minister says

The International Monetary Fund’s (IMF) forecast for the Cypriot economy, presented in its October 2026 World Economic Outlook, is particularly encouraging, Finance Minister Makis Keravnos said in a written statement on Thursday.

The Minister noted that the IMF forecast follows a series of other projections by international and European organisations, ‘which emphatically confirm the resilience of the Cypriot economy in an environment of heightened uncertainty directly affected by armed conflicts.’

According to the IMF forecast, Cyprus’ economic growth rate for 2026 remains high, despite the Fund marginally revising its projection downwards from 3% to 2.9% due to the impact of armed conflicts. At the same time, it upgraded its growth forecast for 2027 to 3.2%, from its previous estimate of 3%.

As noted in the written statement, the Finance Ministry’s corresponding growth forecast for 2026 remains at 3.1%, based on the Statistical Service’s half-year results, which record a growth rate of 3.2%.

‘Growth forecasts, despite minor differences between them, retain Cyprus among the European Union’s top performers and confirm the sound economic policy pursued by the government of President Nikos Christodoulides, which is based on prudent fiscal management, the stability of the financial system, strengthening investor confidence and, above all, the dynamism of Cypriot businesses and workers,’ Keravnos said.

Regarding inflation, which is being driven mainly by the energy crisis, the IMF estimates that it will reach 3.7% in 2026 before falling to 1.9% in 2027. According to the Minister, this fully confirms that the government’s coordinated and targeted efforts, through support packages to mitigate the impact of rising prices and its broader efforts to increase citizens’ incomes, are helping to gradually ease inflationary pressures in the coming years.

According to Keravnos, the IMF forecast is also very encouraging regarding unemployment. The Fund projects that the rate will fall from 4.6% to 4% in 2026 and from 4.7% to 4.4% in 2027, ‘confirming the government’s rational policies, which have enabled Cyprus’ economy to operate today, and in the future, under conditions of full employment, in contrast to what prevailed in the recent past.’

The Minister also welcomed the IMF forecast for a continued decline in public debt, which the Fund projects at 38.6% by 2029. Keravnos described this as ‘a significant development that will be unprecedented and beneficial for the Cypriot economy.’

Finally, the IMF forecast of a budget surplus equivalent to 2.6% of GDP in 2026 and 2.5% in 2027 demonstrates, according to the Minister, the sound fiscal policy pursued by the government. The creation of surpluses provides economic stability and the necessary flexibility to address emergencies, as well as to implement sound social policies and provide targeted support to vulnerable groups.

‘As a government and as the Finance Ministry, we will remain firmly committed to the careful and preventive fiscal policy we are pursuing. Based on the data and all forecasts by international organisations, this policy strengthens the credibility of our economy and creates the conditions for a more productive, more competitive and more resilient economy operating at full employment, for the benefit of citizens,’ he concluded.

??use President speaks about gender equality in European Conference in Rome

Gender equality and Cyprus’ efforts to include gender dimension in public policy was highlighter by House of Representatives President Annita Demetriou in her intervention at the 28th European Conference of Presidents of Parliament of the Council of Europe member states which began Thursday in Rome.

The Conference began with a working breakfast for female Presidents of Parliaments in which Demetriou in her address focused on the need to strengthen the collective action of women in defending and advocating for their rights.

In her remarks, she emphasised that gender equality is a strategic priority and an essential prerequisite for building strong economies, resilient institutions and fairer societies.

She pointed out that the persistent, long-standing obstacles faced by women constitute structural inequalities, the addressing of which requires comprehensive institutional and policy interventions.

Demetriou furthermore noted the need to safeguard gender equality online, where women and girls continue to face multiple forms of discrimination, including hate speech, defamation and sexist behavior. Such actions severely undermine their dignity and their ability to pursue public office, she underlined.

Demetriou stressed the need to adopt a unified regulatory framework that includes social media.

Referring to the situation in Cyprus the House of Representatives President said that significant progress was made toward achieving substantive gender equality, highlighting, in particular, the legislative mandate to integrate a gender perspective into public policy and the state budget.

She emphasized, however, that the current priority is to translate these institutional commitments into tangible, measurable outcomes, specifically regarding women’s economic independence, their access to positions of responsibility and their equal participation in public life.

Furthermore, she placed particular emphasis on the need to effectively address violence against women and girls, including femicide, which represents an extreme manifestation of gender inequality.

As the initiator of the Cypriot legislation recognizing femicide as a distinct criminal offense, the President of the House highlighted the importance of strengthening legislative frameworks and fostering inter-parliamentary cooperation, with the aim of effectively protecting women and girls from all forms of gender-based violence.

A press release from the House of Representatives notes that the initiative led by Demetriou was the first in Europe to establish femicide as a specific criminal offense and this was a move followed by similar legislative measures in Malta, Italy and Croatia.

The President of the House noted that parliaments have a pivotal role to play in promoting modern and effective gender equality policies such as equal opportunities, the substantive participation of women across all spheres of public life and a zero-tolerance approach toward any form of discrimination or gender-based violence.

Demetriou also stressed that, while relevant legislation has been enacted, what is needed is its implementation and the raising of public awareness regarding these issues.

CNA/KCH/EPH/2026