Category: Cyprus News Agency

The government’s primary concern remains a strong and resilient economy, which is the foundation on which businesses can plan, invest, and grow with confidence, said Deputy Minister to the President Irene Piki, who spoke of stability becoming even more important in a period of international uncertainty such as the one we are currently experiencing, where geopolitical and economic changes can easily affect market prospects.

In a speech at the 12th Cyprus Chamber of Commerce and Industry Business Leader Awards, which she read on behalf of the President of the Republic, the Deputy Minister to the President said that “in this complex environment, an economy that remains consistent, reliable, and resilient serves as a stable point of reference for the business world, strengthening confidence and opportunities for long-term planning.”

Piki praised the Chamber’s work, emphasizing that it contributes significantly to promoting Cyprus as an attractive destination for investment and to strengthening the extroversion of Cypriot businesses.

She recalled that a few days ago, at the CCCI’s Annual General Meeting and in view of Cyprus’ Presidency of the Council of the EU, the President presented his vision for a more competitive Cyprus, based on extroversion, access to finance, and a simple, business-friendly environment.

She emphasized that, despite the uncertain international environment, the Cypriot economy “is proving its resilience,” noting that in 2024 GDP grew by 3.4%, while growth of close to 4% is expected for 2025.

According to Piki, inflation remains among the lowest in the EU and unemployment has already fallen below 5%.

At the same time, she said that international rating agencies place Cyprus in category A with a positive outlook, confirming, as she said, its reliable and prudent economic management.

Piki also said that the 2026 budget, which is expected to be finalized in Parliament next week, strengthens fiscal stability through a surplus balance, noting that public debt is expected to be limited to 50.9% of GDP, strengthening the scope for targeted spending.

She also said that particular emphasis is placed on investments in energy, digital infrastructure, technology, and green growth, creating “a stable and predictable environment for businesses.”

According to the Deputy Minister, with the completion of the Recovery Plan projects, planning for the new seven-year framework will begin, adding that the preparation will be done “in a timely and methodical manner, in collaboration with the business community,” so that Cyprus can claim European resources from a position of strength.

“The tax reform, which is expected to be voted on December 22 and implemented on January 1, 2026, strengthens business liquidity and attracts investors,” she noted.

She also mentioned that an important step is the establishment of the Business Support Center (BSC), which will provide new financing tools and advisory services to small and medium-sized enterprises.

At the same time, she said that the Cyprus Equity Fund is already investing in innovative businesses, while the Ministry of Energy’s Grant Schemes are mobilizing pound 360 million by 2027 to boost competitiveness and extroversion.

Piki said that the government is moving forward with intensive digitization of services, while the Business Support Center in central Nicosia, which brings together critical licensing procedures, has been operating since 2025 “effectively reducing bureaucracy.”

She also stressed that the government’s energy strategy aims to reduce energy costs for businesses, adding that the operation of the competitive electricity market from October 2025 will offer businesses the opportunity to choose their supplier, creating competition and fairer prices.

With regard to investment in human capital, she said that the government is prioritizing the attraction of talent, noting that the Minds in Cyprus initiative, in collaboration with CCCI and Invest Cyprus, aims to repatriate skilled Cypriots.

“We will soon announce the schedule of events to be held abroad in 2026-indicatively, I would like to mention that we are targeting the US, the UK, and Greece-and I would like to encourage you to participate in them,” she said.

Concluding her speech, the Deputy Minister warmly congratulated the award winners, whom she described as “living proof of the dynamism, creativity, and resilience of the Cypriot business world.”

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (C)

FOR THE PERIOD FROM 1800 12/12/2025 UNTIL 1800 13/12/2025

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 low pressure is affecting the area. The weather will be mainly fine, but locally increased cloud will be present at times.

Visibility: Good

Sea surface temperature: 22°C

Warnings: NIL

AREA PERIOD WIND STATE OF SEA

West Coast

Night Northeast to Southeast 3, at times locally North to Northeast 3 to 4 Smooth to Slight

Morning Northeast to East, later Variable Smooth to Slight

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

South Coast

Night Northwest to Northeast 3 Smooth to Slight

Morning Northwest to Northeast 3, later locally Variable Smooth to Slight

Afternoon Northwest to Northeast 3, locally South to Southwest Smooth to Slight

East Coast

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

Morning West to Northwest 3, at times locally 3 to 4 Smooth to Slight

Afternoon Northwest to North 3, at times locally North to Northeast Smooth to Slight

North Coast

Night Southeast to Southwest 3, at times locally Variable Smooth to Slight

Morning Southeast to South, later Variable Smooth to Slight

Afternoon Variable 3, gradually Northwest to Northeast Smooth to Slight

Cyprus issue, the upcoming Cyprus EU Presidency, Ukraine and bilateral cooperation were on the agenda of a meeting House President Annita Demetriou had on Friday with President of Moldova, Maia Sandu who is paying an official visit to the island.

Cyprus and Moldova reaffirmed their commitment to the respect of independence, sovereignty and territorial integrity of all states and the importance of compliance with international law and European principles and values, as a necessary condition for peace, security and stability in Eastern Europe and in the Mediterranean.

Demetriou described the visit as historic, taking place a few days before Cyprus assumes the EU Presidency.

She pointed out that the two countries face similar and complex challenges in a particularly unstable geopolitical environment. Demetriou noted that Cyprus primarily for security reasons, sought its accession to the EU, which constitutes its strongest diplomatic advantage.

She also said that Cyprus does not oppose the participation of third countries in the EU SAFE programme, provided that they comply with European principles and their obligations towards the Union and its member states.

Demetriou also assured Sandu of Cyprus’ support for Moldova’s European course.

The Speaker of the House underlined that the Republic of Cyprus is the only divided EU member state, in violation of the fundamental principles of the UN and the EU.

She spoke of a positive step referring to yesterday’s meeting between President Nikos Christodoulides and Turkish Cypriot leader Tufan Erhurman and expressed hope for the resumption of substantive negotiations as soon as possible, with a view to achieving a comprehensive solution, in accordance with the UNSC resolutions.

The President of Moldova reaffirmed her country’s firm position of principles regarding the Cyprus issue. She also noted that her country faces serious security challenges emanating from Russia, stressing that for Moldova, its accession to the EU is a top national priority.

She briefed Demetriou about the current situation in Transnistria and the policies pursued by Moldova for the social integration of the inhabitants of the region in question, as well as about the achievement, as she noted, of her country in becoming energy independent from Russia with the support of the EU.

Views were also exchanged on the ongoing war in Ukraine and the situation in the Middle East. Demetriou underlined that the Republic of Cyprus categorically opposes the legalisation of territories conquered by military force.

They also expressed their will for the further strengthening of relations between the two countries at all levels, including the parliamentary one.

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (A)

FOR THE PERIOD FROM 0600 12/12/2025 UNTIL 0600 13/12/2025

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 low pressure is affecting the area. Locally increased cloud coverage at times will be present with risk of isolated showers, mainly over the northern and eastern coastal areas during the morning and over the southern coast in the afternoon.

Visibility: Good, but moderate in showers

Sea surface temperature: 22°C

Warnings: NIL

President Nikos Christodoulides and Moldovan President Maia Sandu pointed out the central role of EU enlargement in Europe’s strategic future, following talks on Monday in Nicosia, the first visit by a Moldovan head of state to Cyprus in more than two decades.

Speaking after their meeting at the Presidential Palace, President Christodoulides said the visit comes at a ‘very important juncture’, just 19 days before Cyprus assumes the Presidency of the Council of the European Union. He stressed that Nicosia’s upcoming presidency will prioritise delivering ‘an effective and results-oriented presidency’ aimed at strengthening a more autonomous, resilient and prosperous EU.

‘EU enlargement – a strong geopolitical tool – is an integral part of our vision,’ President Christodoulides said, noting that the policy has long proven its value as a driver of reforms, progress and stability. Drawing on Cyprus’ own accession experience, he noted how membership had a ‘substantial and multidimensional impact’ across all sectors of Cypriot society, and expressed hope that Moldova would soon enjoy similar benefits.

A tangible example of progress, he said, is Moldova’s inclusion in the EU’s free-roaming zone from 1 January 2026, which demonstrates the practical advantages of advancing on the accession path.

The Cypriot President praised Sandu’s government for its ‘admirable commitment’ to reforms despite external pressure and constant hybrid threats. He reaffirmed Cyprus’ ‘steadfast and substantive support’ for Moldova’s EU perspective and pledged to work actively during the Cypriot presidency to advance enlargement.

‘We will make every possible effort to deliver concrete, positive developments in the next six months that bring Moldova closer to our shared goal,’ he said.

President Christodoulides also pointed to deepening bilateral ties, noting the political will on both sides to enhance cooperation in justice, education, police collaboration, transport and energy. He thanked Moldova for its consistent support on the Cyprus issue, based on EU principles and international law, and assured that the Cypriot presidency ‘will stand by Moldova not with words, but with specific actions’.

Sandu: Cyprus can champion a credible and ambitious enlargement agenda

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President Sandu said it was a pleasure to visit Cyprus as it prepares to take over the EU Council presidency, adding that both countries are ‘united by the same aspiration – a continent that is whole, free, secure and prosperous’.

Describing the visit as taking place ‘at an important moment for Europe and our bilateral relations’, she said she hoped it would inject new momentum into deepening cooperation. The two leaders held what she described as ‘strategic and encouraging’ discussions on Moldova’s accession process, regional security, bilateral ties and continued solidarity with Ukraine.

Sandu stressed Moldova’s decisive stage on the road to EU membership and its strong expectation that Cyprus will promote a credible and ambitious enlargement agenda during its presidency.

‘EU accession is not only a strategic objective, it is the most important national project since our independence – a survival strategy while an aggressor continues to threaten our sovereignty,’ she said, noting that Cyprus understands better than many the importance of resilience and defending sovereignty.

She stressed that enlargement consistently strengthens the EU. ‘The European Union benefits from a stronger, more stable, more democratic Moldova anchored in the European family. Enlargement has always made the Union more secure, more prosperous and more capable globally. Moldova wants to add to that strength.’

Sandu highlighted Moldova’s solidarity with Ukraine, noting that with a population of 2.5 million, it managed over one million refugees crossing its borders and provided shelter to around 100,000. She also pointed to Moldova’s contributions to European security through peacekeeping missions, civil-protection mechanisms and efforts to counter hybrid threats.

She said Moldova now faces a ‘window of opportunity’ with all state institutions aligned on a pro-European reform agenda. Advancing accession at this moment, she argued, strengthens the EU’s eastern frontier, supports Ukraine and prevents malign actors from exploiting Moldova’s upcoming electoral cycle.

‘We are accelerating reforms, strengthening the rule of law, aligning our economy with EU standards and enhancing our resilience,’ she said, reaffirming that Moldovans have repeatedly voted for a European future.

Expressing gratitude for what she called a constructive dialogue and Cyprus’ openness to support a presidency roadmap that includes progress on Moldova’s accession negotiations, Sandu said she is confident cooperation will deepen as Cyprus takes over the EU Council presidency.

‘Together we can advance the vision of a stronger, safer and more united Europe,’ she concluded, adding that Moldova is ready to contribute and ready to move forward.

The Central Bank of Cyprus (CBC) maintained the countercyclical buffer rate for banks at 1.5%.

In a statement, the CBC said that, in accordance with the provisions of the Macroprudential Oversight of Institutions Laws of 2015 to 2022, it deemed appropriate to maintain the countercyclical buffer rate at 1.5%, effective as from 14 January 2026.

AKTI participates in a bi-communal project for the utilisation of green waste in agriculture. The program with the name ”All4Compost: Civil Society in Action for Circular Green Waste Management” is a new European Union-funded project for the circular utilisation of agricultural prunings and livestock waste and the empowerment of civil society.

A press release by AKTI says that the project is launched in the occupied district of Lefka, with the TC Chamber of Agricultural Engineers as the lead partner, AKTI Project and Research Centre, and the Lefke Society for the Preservation of the Environment and Ecology.

All4Compost, funded by the European Union under the Aid Programme for the Turkish Cypriot community, ”aims to bring to the Turkish Cypriot community an innovative, economically sustainable, participatory and locally adapted model for the management of agricultural prunings and the production of compost, based on the active participation of civil society”.

The press release says that with the creation of the ‘Lefke Compost Community’ as its central objective, ”the project aims to bring farmers, local authorities, organisations and citizens together to co-design and co-own a functional scheme for the collection of agricultural prunings and their transformation into high-quality and low-cost compost”.

Farmers will provide their organic residues and will receive ready compost in return, reducing their costs and actively contributing to the reduction of the environmental footprint of their activities.

AKTI, utilising its experience in the co-management of green waste and bi-communal cooperation, will transfer its know-how to the Turkish Cypriot community and contribute to the design, technical guidance and adaptation of the model to the specific conditions of the district, the press release reads.

The Lefke District, in the Turkish occupied areas, has a long agricultural tradition but also acute environmental challenges and faces significant problems of accumulated green waste, burning of prunings, and soil degradation.

The press release explains that All4Compost provides a practical, low-cost and socially fair solution, through the utilisation of the Symbiotic and Circular Green Waste Management Scheme, a model already recognised and applied through innovative European projects in Cyprus.

Within the project, mapping of green waste and existing infrastructure will take place, together with participatory workshops for co-designing the scheme, training for farmers, local authorities and organisations, as well as demonstrations of the composting process in practice, using equipment and tools that ensure a sustainable and low-cost process.

In parallel, awareness-raising and educational activities in schools and among citizens will contribute to shaping a new culture of responsible green waste management.

Cyprus President Nicos Christodoulides welcomed on Friday Moldovan President Maia Sandu in Nicosia, calling the visit ‘historic’ and pledging strong Cypriot support for Moldova’s path toward European Union membership.

‘Let me welcome you. We are very glad to have you in what I consider a historic visit, 22 years since the last visit of President Moldovan to Cyprus,’ President Christodoulides said as the two leaders met. The visit comes less than three weeks before Cyprus assumes the presidency of the Council of the European Union.

Christodoulides stressed Cyprus’ backing for Moldova’s sovereignty and territorial integrity.

‘Cyprus fully respects the sovereignty, the territorial integrity of Moldova,’ he said, adding that during the Cypriot presidency, Nicosia would do its utmost in order Moldova to have substantial progress in its European Union accession process.

He praised Moldova’s reform efforts and ‘clear European orientation,’ assuring Sandu that Cyprus would remain a supporter during the presidency and even after the presidency.

Sandu thanked Christodoulides for the warm reception and Cyprus’ continued support.

‘It’s a real pleasure to be here. Thank you for finding the time, even though you’re very busy with preparing for the EU presidency,’ she said.

The Moldovan President described EU membership as a national priority.

‘We have big hopes for your presidency. As you know, Moldova is very committed to become a new member state,’ she noted, stressing that her government is working ‘to reform and to raise to the standards that EU wants us to raise.’

Sandu also highlighted Moldova’s resilience amid external pressure.

‘We’ve been dealing with significant interference from Russia during the elections that we had. It hasn’t been easy, but we have shown that we’re resilient, that we cherish democracy, that we want Moldova to stay sovereign and part of the free world,’ she said.

She also said that she was very happy to have the chance to discuss bilateral cooperation with Cyprus.

President Sandu, arrived at the Presidential Palace in Nicosia at 10:15, where she received an official welcome from the President of the Republic, Nikos Christodoulides.

Upon her arrival, military honor guards paid tribute, while the Police Philharmonic performed the national anthems of both countries. President Sandu also laid a wreath at the statue of the first President of the Republic of Cyprus, Archbishop Makarios III, in the courtyard of the Presidential Palace.

?he goal is for the next meeting on Cyprus, with the participation of the guarantor powers, to be convened as soon as possible so that another decisive step can be taken toward the resumption of negotiations, Government Spokesperson Konstantinos Letymbiotis said on Friday after a National Council meeting at the Presidential Palace.

He noted that there had been ‘a very constructive and substantive exchange of views on what took place yesterday, but even more so on our next steps toward achieving the goal, which is none other than the resumption of negotiations from the point they left off.’

In statements to journalists following the National Council meeting, the Spokesperson said that President Nikos Christodoulides briefed the political leadership on Thursday’s joint meeting with Turkish Cypriot leader Tufan Erhrman with the UN Secretary-General’s Personal Envoy Maria Holguin, as well as on his meeting with the EU’s Special Envoy, Johannes Hahn, and on the outcome of the ‘very important meeting’ which resulted in the UN announcement issued yesterday. Referring to the announcement, Letymbiotis noted that it ‘contained a very significant reference to the UN Security Council resolutions, a reference that had been absent since October 2020.’ He added that all members of the National Council welcomed this ‘as they recognise both its significance and its value’ and the restoration of the shielding provided by international law.

According to the Spokesperson, President Christodoulides also informed the National Council members about the contacts Holguín, is scheduled to have in the coming period. He noted that Holguín is currently in Athens for meetings with the country’s Prime Minister and Foreign Minister, before travelling to Ankara for a meeting with the Turkish Foreign Minister.

Letymbiotis added that similar contacts had been made and will continue to be carried out by the EU’s Special Envoy for Cyprus, Hahn, in an effort ‘to activate the EU’s contribution to the initiative of the UN Secretary-General.’

‘Our objective, is for the next meeting in a broader format, with the participation of the guarantor powers, to be convened as soon as possible, so that a substantive discussion can take place and another decisive step, the major decisive step, can be made toward the resumption of negotiations, always within the agreed framework as defined in all relevant UN Security Council resolutions and in line with the principles, values, acquis, and legislation of the European Union,’ Letymbiotis said.

Responding to a journalist’s comment about statements by Erhrman suggesting that the reference to political equality in yesterday’s joint announcement does not imply a renunciation of the position on two constituent states, the Spokesperson said that ‘the definition of political equality by the UN Security Council dates back to 1991 and is clear.’

Beyond that, he added, ‘we consider yesterday’s reference to the UN Security Council resolutions to be very positive, and this is reflected also in the positions of the National Council members.’ Noting ‘we have no intention of entering into a public debate’, he said ‘we must bear in mind that it is neither possible nor logical to selectively or partially choose or interpret the UN Security Council resolutions or international law.’

‘We believe that this is neither a neutral nor an empty reference. It is a reference based on the historical and political continuity of the Cyprus issue, and we welcome it,’ he said, adding that it represents ‘a commitment to international law which we seek, which we consider a shield, a compass, and the only path toward the resumption of negotiations and ultimately the solution of the Cyprus problem.’

This restoration of the Cyprus issue within the parameters of international law, he added, ‘is what can lead our country to reunification’.

The Spokesman also highlighted the importance of the prospect given yesterday by Hahn through the European dimension of the Cyprus issue, “a European dimension that is self-evident and lies at the core of the discussions we will be having in the coming period.’

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results due to Turkish intransigence. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.

In 2025 the Secretary-General hosted two informal meetings on Cyprus, in March in Geneva and in July in New York, while a tripartite meeting with the Cyprus leaders was also held in late September, at the end of the UN General Assembly High Level Week. An informal meeting in broader format is expected later this year.

María Angela Holguín, the UN Secretary-General’s Personal Envoy on Cyprus, is tasked to engage with the parties, while former European Commissioner Johannes Hahn, designated by the Commission as Special Envoy for Cyprus, is also expected to contribute to the settlement process, in cooperation with Holguín.

Greek Foreign Minister George Gerapetritis will meet on Friday in Athens with the UN Secretary General’s Personal Envoy on Cyprus, María Angela Holguín.

The meeting will take place at 7:00 p.m. local time.

Greek Prime Minister Kyriakos Mitsotakis had on Thursday a telephone conversation with the President of the Republic of Cyprus, Nikos Christodoulides, focusing on developments in the Cyprus issue.

Holguin visits Greece and then Turkey, following her one week visit to Cyprus, during which he held separate meetings with the two leaders, President Christodoulides and Turkish Cypriot leader, Tufan Erhurman, as well as a joint meeting with them.

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results due to Turkish intransigence. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.

In 2025 the Secretary-General hosted two informal meetings on Cyprus, in March in Geneva and in July in New York, while a tripartite meeting with the Cyprus leaders was also held in late September, at the end of the UN General Assembly High Level Week. A new informal meeting in broader format is expected to take place.

María Angela Holguín, the UN Secretary-General’s Personal Envoy on Cyprus, is tasked to engage with the parties, while former European Commissioner Johannes Hahn, designated by the Commission as Special Envoy for Cyprus, is also expected to contribute to the settlement process, in cooperation with Holguín.