Category: Cyprus News Agency

Unemployment in Cyprus recorded a slight increase in November 2025, according to data released by the Statistical Service of Cyprus. The number of registered unemployed at District Labour Offices rose to 10,924 persons, up from 7,099 in October, a rise largely attributed to the seasonal decline following the end of the tourist period.

Based on seasonally adjusted figures, which reflect the underlying trend of the labour market, unemployment reached 10,078 persons, compared with 9,723 in October, marking a 3.6% increase.

Annual Unemployment Down 1.5%

——————————————-

Despite the month-to-month rise, unemployment fell by 163 persons, or 1.5%, compared with November 2024.

This annual decrease is mainly attributed to lower unemployment in the construction, manufacturing, trade, and financial and insurance sectors, as well as a reduction in the number of new entrants to the labour market.

In the accommodation and food services sector, unemployment rose sharply to 3,642 persons, from 852 in October, due to the end of the tourism season.

In wholesale and retail trade, the number of unemployed increased to 1,569 persons (from 1,324 in October), though the figure remains lower than last November’s 1,667.

The construction sector recorded 411 unemployed, significantly fewer than the 541 reported a year ago.

In manufacturing, unemployment also declined annually, reaching 458 persons compared with 557 last November.

The number of new labour market entrants decreased to 256, down from 421 in November 2024.

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (A)

FOR THE PERIOD FROM 0600 03/12/2025 UNTIL 0600 04/12/2025

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1021hPa (hectopascal)

Weak high pressure is affecting the area. Locally increased cloud coverage will be present at times.

Visibility: Good

Sea surface temperature: 23°C

Warnings: NIL

AREA PERIOD WIND STATE OF SEA

West Coast

Morning North to Northeast 3, soon Northeast to Southeast 3 to 4 Smooth to Slight

Afternoon Northeast to Southeast 3 to 4 Smooth to Slight

Night Northeast to East 3 to 4, locally 4 Smooth to Slight, locally Slight

South Coast

Morning Northwest to Northeast 3, soon Northeast to Southeast 3 to 4 Smooth to Slight

Afternoon Northeast to East 3 to 4 Smooth to Slight

Night North to Northeast 3 to 4, locally 4 Smooth to Slight, locally Slight

East Coast

Morning Northwest to Northeast 3, soon Northeast 3 to 4 Smooth to Slight

Afternoon Northeast to East 3 to 4 Smooth to Slight, later Slight

Night Northeast 3 to 4, locally 4 Slight

North Coast

Morning Northeast to Southeast 3, soon 3 to 4 Smooth to Slight

Afternoon Northeast to East 3 to 4 Smooth to Slight, locally Slight

Night Northeast to East 3 to 4, near the coast East to Southeast 3 Slight, near the coast Smooth to Slight

Lasting peace in Palestine can only be achieved through the two-state solution in line with the UN Security Council resolutions, Defence Minister Vasilis Palmas said on Wednesday during his visit to the Palestinian Embassy in Nicosia, which organised a symbolic event on the occasion of the International Day of Solidarity with the Palestinian People.

Palmas noted that ‘Cyprus is a member state of the European Union, it is the only state located in the Eastern Mediterranean’, adding that ‘we are particularly interested in ensuring peace and tranquility in the region’.

“We are one of the first states that recognised the Palestinian state in 1988, within the framework of United Nations resolutions, we support this line and we believe that through this direction peace can be ensured in the region, which has been in turmoil for 3 years,” he pointed out.

In the message he wrote in the guest book opened by the Embassy of Palestine, the Minister of Defence noted that ‘on the occasion of the International Day of Solidarity with the Palestinian people, Cyprus reaffirms its commitment to peace, prosperity and stability in our shared region. As one of the first States that has recognised the State of Palestine since 1988, shortly after its declaration, Cyprus has upheld consistently the principles of international law and the legitimate aspirations of the Palestinian people,’ he pointed out.

‘Our position is clear and unwavering that lasting peace can only be achieved through the two-state solution as reflected in the UNSC Resolutions,’ Vasilis Palmas wrote in his message. In this context, he continued, ‘it is our belief that a sovereign and contiguous Palestinian State with Gaza and West Bank united as integral parts of it, and with East Jerusalem as its capital, will undeniably benefit not only the Palestinian people, but will also foster enduring conditions of security and dignity for the region as a whole.’

‘Cyprus as the closest EU Member State, which will be soon assuming the Presidency of the Council of the EU, reiterates that it will continue actively supporting the stabilization efforts of the Comprehensive Plan to End the Gaza Conflict, including the humanitarian field and diplomatic initiatives towards this,’ he concluded.

Cyprus authorities and the International Organization for Migration (IOM) signed on Wednesday an implementation agreement for the voluntary return support measure titled ‘Assisted Voluntary Returns Hub (AVR HUB)’ in the framework of the 2nd Swiss Contribution in the field of Migration, for the 2019-2029 Programming Period.

The measure provides for the rental and renovation of a building hosting up to 40 asylum seekers, worth approximately pound 1.1 million.

The agreement was signed by the Director General of the General Directorate of Development at the Ministry of Finance, Penelope Papavassiliou, the Director of the Migration Department of the Deputy Ministry of Migration and International Protection, Maria Adamidou, and the Head of Mission of the International Organization for Migration (IOM) in Cyprus, Vassiliy Yuzhanin.

The measure places special emphasis on vulnerable groups of people who will voluntarily return to their countries of origin. The project will be fully funded by the Switzerland-Cyprus Cooperation Programme, with a budget of CHF 1.05 million (approximately pound 1.1 million), and will be implemented by IOM, in collaboration with the Migration Department of the Deputy Ministry of Migration and International Protection.

According to a press release issued by the Finance Ministry, through the 2nd Swiss Contribution for the support measures in the field of Migration to the EU, Cyprus has benefited in Phase A (2019-2026) with funding amounting to pound 10.7 million. The Swiss Confederation has granted an additional CHF 10.0 million (pound 10.7 million) for Phase B (2025-2029) of the support measures, with a national contribution of CHF 900,000 (approximately pound 963,000) from the state budget.

The Cyprus Composite Leading Economic Index (CCLEI) recorded a year-over-year increase of 1.8% in November 2025 and this growth rate is close to the levels of previous months, as the year-over-year growth of the Index was 1.9% in October and 1.8% in September 2025, figures from the Economics Research Centre (CypERC) of the University of Cyprus show.

According to the figures released on Wednesday, the positive year-over-year growth of the CCLEI in November indicates that the Cypriot economy continues its positive course, although its growth momentum is taking shape in an environment of increased uncertainty and geopolitical tensions.

In November 2025, the Composite Leading Economic Index recorded steady year-over-year growth compared to the previous two months, reflecting the positive contribution of most individual leading indicators, the figures show.

Specifically, the strengthening of the weighted Economic Sentiment Indicator (ESI) in Cyprus and the euro area, combined with the positive performance of tourist arrivals, retail trade and property sales contracts, as well as the decrease in the price of Brent crude oil, drove the year-over-year growth rate of the CCLEI in November.

In contrast, the downward trend in the – temperature-adjusted- volume of electricity production, which holds a significant weight in the composition of the Index, had an offsetting negative effect on the CCLEI in November.

In conclusion, the positive year-over-year growth of the CCLEI in November indicates that the Cypriot economy continues its positive course, although its growth momentum is taking shape in an environment of increased uncertainty and geopolitical tensions.

FOR THE PERIOD FROM 1200 03/12/2025 UNTIL 1200 04/12/2025

Atmospheric pressure at the time of issue: 1020hPa (hectopascal)

Weak high pressure is affecting the area. The weather will be partly cloudy with risk of isolated light showers.

Visibility: Good

Sea surface temperature: 23°C

Warnings: NIL

AREA

PERIOD

WIND

STATE OF SEA

West Coast

Afternoon

Southeast 3, locally Variable

Smooth to Slight

Night

Northeast to East 3

Smooth to Slight

Morning

Northeast to East 3

Smooth to Slight

South Coast

Afternoon

Northeast to Southeast 3 to 4

Smooth to Slight

Night

North to Northeast 3 to 4, locally 4

Smooth to Slight

Morning

Northeast 4, at times locally Northeast to Southeast 4 to 5

Smooth to Slight, at times locally Slight

East Coast

Afternoon

Northeast to East 3 to 4, locally 4

Slight

Night

Northeast 3 to 4, locally 4

Slight

Morning

Northeast 4, at times locally 4 to 5

Slight, at times locally Slight to Moderate

North Coast

Afternoon

Northeast to East 3 to 4, locally 4

Smooth to Slight, locally Slight

Night

Northeast to East 3 to 4, locally 4

Slight

Morning

Northeast to East 4, at times locally 4 to 5

Slight, at times locally Slight to Moderate

Environmental challenges in Cyprus have an impact on both communities and inaction or postponement will result in greater damage in the future, Greek Cypriot and Turkish Cypriot political parties have said, underlining areas for joint action.

The parties met on Wednesday in the framework of the bicommunal dialogue taking place under the auspices of the Embassy of the Slovak Republic.

A Joint Communique issued after the meeting said that the representatives held a discussion on the topic “There is no other Cyprus and the environment cannot wait for a solution of the Cyprus problem”, presented by the hosting bicommunal political party, Volt Cyprus.

The representatives exchanged views on issues such as climate change, wildfires, water scarcity, lack of sustainable waste management, pollution and biodiversity loss, according to a joint statement issued after the meeting.

They agreed that environmental protection cannot be placed on hold until a comprehensive settlement of the Cyprus problem is reached and identified priority areas for immediate and practical cooperation such as coordination in dealing with wildfires and extreme weather conditions. They also agreed that there is a need to strengthen communication, coordination, preparedness, and response mechanisms for forest fires, floods, and other natural disasters, through the upgrade of the Committee on Crisis Management (CCM).

As regards Waste Management and Recycling the parties agreed on the need for developing bicommunal waste treatment facilities, joint awareness raising, exchange of expertise, and pilot projects related to solid waste, plastics, electronic, and hazardous waste treatment, building on existing recommendations and supported, where possible, by European Union-funded bicommunal initiatives.

They also agreed on the need to promote cooperation on sustainable water use, agricultural efficiency, drought preparedness, soil erosion prevention and climate adaptation planning, in order to address shared climatic risks more effectively.

Moreover they agreed on the need for advancing coordinated efforts for the mapping and protection of ecosystems, forests, wetlands, bird migration routes, and marine environments, recognising that biodiversity protection requires island-wide approaches. They also agreed on the need to promote the creation of joint renewable energy infrastructure, with a special emphasis on energy reclamation from waste resources, solar panels on new infrastructures and innovative energy projects.

The joint statement also pointed out that the parties agreed that the facilitation of adoption of the acquis communautaire across the island is extremely urgent, since it will automatically facilitate the upgrading of the island’s environmental performance and infrastructure, paving the way for further and deeper cooperation on more contested issues.

The representatives noted that many of the above areas already fall within the mandate of the Bicommunal Technical Committee on Environment, emphasizing that the committee’s potential has not been fully utilised, largely due to changing political dynamics and limited operational authority.

The representatives called on the leaders of both communities to support and facilitate the advancement of these priority areas and to enable relevant bicommunal technical mechanisms to take forward concrete cooperation without delay.

The next meeting will be hosted on 28 January 2026 and the guest speaker is set to be the Special Representative of the UN Secretary-General and Head of UNFICYP Khassim Diagne, as it is noted

Cyprus President Nikos Christodoulides departs on Wednesday for Kyiv for a working visit as part of preparations ahead of Cyprus Presidency of the Council of the European Union, according to a statement from the Presidency. He is to arrive in Kyiv on Thursday.

The visit, it said, takes place during a period of significant developments for Ukraine and ‘reflects the steadfast political will of the Republic of Cyprus to actively contribute to advancing European priorities and to express its unwavering support for Ukraine.’

It notes that during his meeting with Ukraine’s President, Volodymyr Zelenskyy, President Christodoulides ‘will reaffirm the full commitment of the Republic of Cyprus to the fundamental principles of international law and Cyprus’ absolute respect for Ukraine’s sovereignty, independence, and territorial integrity, a position aligned with our own historical experience and our unwavering principles, which must be upheld universally and without exception.’ The discussions will also outline the main priorities of the upcoming Cyprus Presidency of the Council of the EU, which places the Ukrainian issue high on the European agenda, the statement adds.

‘At the same time, the need to decisively address the phenomenon of sanctions circumvention will be underscored, as well as the broader effectiveness of the international sanctions framework, which requires a common stance, transparency, and consistency from all,’ the announcement said.

According to the announcement, the President of the Republic will arrive in Kyiv on Thursday, December 4. Following his arrival, he will lay a wreath at the Wall of Remembrance of the Fallen for Ukraine, in the presence of President Zelenskyy.

The two Presidents will then have a meeting, followed by expanded talks at the Presidential Palace focusing on EU-Ukraine relations, the country’s accession negotiations, and the contribution of the forthcoming Cypriot Presidency. The two leaders will make statements to the media and then participate in a working lunch.

Later on, President Christodoulides will visit the Ukrainian Parliament for a meeting with Speaker Ruslan Stefanchuk, ‘affirming the strong institutional dimension of the relations between the two countries.’

President Christodoulides will then visit the Special Rehabilitation Centre for children repatriated after abduction and captivity in occupied territories, ‘highlighting the humanitarian dimension of Cyprus’ stance toward the war and its impact on the most vulnerable victims,’ the statement notes.

Before departing from Kyiv, the President will also visit Saint Sophia Cathedral, ‘an emblematic monument of the Orthodox tradition and the cultural heritage of the country.’

President Christodoulides will be accompanied by Government Spokesperson Konstantinos Letymbiotis, Deputy Minister for European Affairs Marilena Raouna, Director of the President’s Diplomatic Office Doros Venezis, and other officials.

Cyprus Deputy Minister of Research, Innovation and Digital Policy, Dr. Nikodemos Damianou is traveling to Brussels Wednesday to participate in the EU Telecommunications Council.

A press release says that the DepMin will present the work program of the Cyprus Presidency of the Council of the EU on digital policy and cybersecurity issues.

The Council’s agenda also includes strengthening Europe’s digital competitiveness, simplifying legislation to empower businesses, as well as the implementation of the Digital Services Regulation on online platforms and e-commerce.

The discussion will also focus on the broader building of resilience and protection against cyberattacks.

During the visit, the Deputy Minister will hold a series of bilateral meetings with European officials and counterparts from EU member states, to coordinate and discuss critical issues, in view of the Cyprus Presidency to begin January 1st.

Pure new loans recorded a decrease to pound 429,4 million in October 2025 (from total of pound 624,9 million), compared with pound 447,9 million (from total of pound 770,5 million) in the previous month, according to figures by the Central Bank of Cyprus.

More specifically pure new loans for consumption increased to pound 23,7 million (from total of pound 25,1 million), compared with pound 21,2 million in the previous month (from total of pound 22,6 million).

Pure new loans for house purchase recorded an increase to pound 117,5 million (from total of pound 158,7 million), compared with pound 112,9 million in the previous month (from total of pound 165,4 million).

Pure new loans to non-financial corporations for amounts up to pound 1 million decreased to pound 50,8 million (from total of pound 68,3 million), compared with pound 62,7 million in the previous month (from total of pound 83,7 million).

The figures also show that new loans to non-financial corporations for amounts over pound 1 million registered a decrease to pound 232,0 million (from total of pound 359,6 million), compared with pound 246,7 million in the previous month (from total of pound 492,5 million).

As regards the interest rate level on outstanding loans in Cyprus, figures show that it is close to the respective Eurozone median4, with the spread standing at zero (0,0%) for households and to 0,4% for non-financial corporations.

The interest rate level on new loans in Cyprus is comparable to the Eurozone median. More specifically, the spread between the weighted average interest rate on loans to households for house purchase stands at -0,3% (lower than the Eurozone median), while the respective spread for non-financial corporations is limited to just 0,1%.

In contrast to the interest rates on loans, interest rates on outstanding deposits in Cyprus are considered as outlier, standing at the lower level within Eurozone.

This might be attributed to the excess liquidity of credit institutions in Cyprus, which is among the highest ones within Eurozone. (indicatively, the Liquidity Coverage Ratio – LCR in Cyprus in October 2025 stood at 329%, compared with 183% (median) and 162% (mean) in European Union in June 2025), as well as to the short range of the banking sector in Cyprus.

Similarly with interest rates on outstanding deposits, the interest rates on new deposits in Cyprus are standing at the lower level within Eurozone, due to the same reasons mentioned above.

The interest rate on deposits from households with an agreed maturity of up to one year recorded a decrease to 1,07%, compared with 1,10% in the previous month.

The corresponding interest rate on deposits from non-financial corporations registered a marginal decrease to 1,23%, compared with 1,24% in the previous month.

The interest rate on consumer credit increased to 6,88%, compared with 6,46% in the previous month.

The interest rate on loans for house purchase increased to 3,73%, compared with 3,63% in the previous month. It is noted that, the portfolio of loans for house purchase of the MFIs contains various types of loans, such as loans for primary residence, for vacation houses etc, which bear different risk and interest rate.

The composition of the housing loans portfolio varies from month to month, resulting in changes to the level of the weighted average interest rate, independently of the increases or decreases of the interest rates of the MFIs.

The interest rate on loans to non-financial corporations for amounts up to pound 1 million increased to 4,39%, compared with 4,32% in the previous month. The interest rate on loans to non-financial corporations for amounts over pound 1 million registered a decrease to 3,69%, compared with 3,79% in the previous month.