Category: Cyprus News Agency

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

MEETING DATE: 21/10/2025

INDICES BASE VALUES: FTSEMed=5000, OTHERS = 1000

EURO (pound )

TRADED VALUE 639,933.05

INDEX

VALUE

%DIFF.

VALUE

FTSE/CySE 20

167.370

0.080

638,353.750

MAIN MARKET INDEX

225.880

0.300

627,761.580

INVESTMENT COMPANIES MARKET INDEX

3,198.830

-0.070

82,223.070

CSE GENERAL INDEX

276.070

0.080

638,353.750

HOTELS INDEX

1,600.360

0.000

1,579.300

ALTERNATIVE MARKET INDEX

1,818.370

-0.350

12,171.470

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (A)

FOR THE PERIOD FROM 0600 21/10/2025 UNTIL 0600 22/10/2025

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1013hPa (hectopascal)

Weak low pressure is affecting the area. Today increased medium and high cloud will be present at times, but there is risk of isolated showers or isolated thunderstorm in the morning over the northeastern coast and in the afternoon over the southern and eastern coast.

Visibility: Good, but moderate in showers

Sea surface temperature: 25°C

Warnings: NIL

Equality Commissioner Josie Christodoulou highlighted the need to mainstream gender into national and foreign policy, promote women’s participation in public life, dismantle gender stereotypes and ensure that the principles of equality are upheld in all sectors, including defence and security.

Addressing a seminar Tuesday, the Commissioner noted that in Cyprus, the question of peace and reconciliation is deeply personal, adding that “we know from our own experience that the voices of women must be heard in these processes, not as an afterthought, but as an essential part of the dialogue”.

Christodoulou noted that in Cyprus, through the use of the tool of gender mainstreaming horizontally and through specific actions that have already been implemented in the context of the National Plan, gender equality is being promoted in security and defence, in civil defence, in foreign affairs and in competent government departments while public awareness actions are being taken.

She also referred to the government’s commitment for the inclusion of women in peace and security building, inter alia, the decision to allow voluntary military service for women in the National Guard and the fact that for the first time in the diplomatic history, the permanent secretary of the MFA is a woman while 10 women lead key directorates and departments and 8 lead diplomatic missions abroad.

Commissioner Christodoulou also noted that peace is not only the absence of war; it is the presence of justice, dignity, and equality.

“And if half the population is excluded, then peace will always be incomplete. The world made a promise to women 25 years ago. It is past time to deliver”, she said.

She also referred to 2023 UN data according to which women made up about 9.6% of negotiators, 13.7% of mediators, and 26.6% of signatories in over 50 peace and ceasefire agreements. In the same year, she said, women’s participation in peace processes led or co-led by the UN was about 16% of total participants in those processes.

“These figures reflect not a lack of will or talent among women, but rather the persistence of traditional masculine and patriarchal structural barriers, social norms, and institutional cultures that marginalise them. This must change. We must move from acknowledging the importance of women’s participation to safeguarding it through policy, practice, and political will”, she concluded.

The results for 2024, audited and verified within the Excessive Deficit Procedure framework of the European Commission, indicate a fiscal surplus of pound 1,439.2 mn, which corresponds to 4.1% of GDP and a fiscal debt of pound 21,822.8 mn, which corresponds to 62.8% of GDP, according to the Cyprus Statistical Service.

Revenue

In 2024, total revenue increased by pound 1,012.1 mn (7.4%) and amounted to pound 14,750.3 mn, compared to pound 13,738.2 mn in 2023.

In detail, taxes on production and imports increased by pound 227.8 mn (5.1%) and amounted to pound 4,682.8 mn, compared to pound 4,455 mn in 2023, of which net VAT revenue increased by pound 190.8 mn (6.4%) and amounted to pound 3,169.6 mn, compared to pound 2,978.8 mn in 2023.

Social contributions increased by pound 139.5 mn (3.2%) and amounted to pound 4,520 mn, compared to pound 4,380.5 mn in 2023.

Revenue from taxes on income and wealth increased by pound 539.8 mn (16.5%) and amounted to pound 3,804.7 mn, compared to pound 3,264.9 mn in 2023.

Other current transfers increased by pound 27.4 mn (7.5%) and amounted to pound 393.2 mn, compared to pound 365.8 mn in 2023.

Revenue from the sale of goods and services increased by pound 52.3 mn (6.2%) and amounted to pound 889.8 mn, compared to pound 837.5 mn in 2023.

Capital transfers increased by pound 40.2 mn (13.5%) and amounted to pound 336.9 mn, compared to pound 296.7 mn in 2023.

On the contrary, property income receivable decreased by pound 14.9 mn (-10.8%) to pound 122.9 mn, from pound 137.8 mn in 2023.

Expenditure

In 2024, total expenditure increased by pound 127.3 mn (1%) and amounted to pound 13,311.1 mn, from pound 13,183.8 mn in 2023.

Specifically, compensation of employees (including imputed social contributions and pensions of civil servants) increased by pound 257.8 mn (7.1%) and amounted to pound 3,877.9 mn, compared to pound 3,620.1 mn in 2023.

Social transfers increased by pound 365.1 mn (7.4%) and amounted to pound 5,303.7 mn, compared to pound 4,938.6 mn in 2023.

Intermediate consumption increased by pound 110.1 mn (8.1%) and amounted to pound 1,475.7 mn, compared to pound 1,365.6 mn in 2023.

Property income payable increased by pound 36.7 mn (9.2%) and amounted to pound 434.8 mn, compared to pound 398.1 mn in 2023.

Subsidies increased by pound 0.7 mn (0.4%) and amounted to pound 171.4 mn, compared to pound 170.7 mn in 2023.

On the contrary, other current expenditure decreased by pound 271.1 mn (-24.3%) to pound 842.4 mn, from pound 1,113.5 mn in 2023.

Total capital expenditure decreased by pound 372 mn (-23.6%) to pound 1,205.2 mn (pound 966.1 mn gross capital formation and pound 239.1 mn other capital expenditure), compared to pound 1,577.2 mn (pound 1,018.1 mn gross capital formation and pound 559.1 mn other capital expenditure) in 2023.

Cyprus President, Nikos Christodoulides, has said that his visits to Slovenia and Croatia took place as part of outreach efforts to EU member states in view of Cyprus assuming the Presidency of the EU in just 70 days.

“We place great importance on listening to our partners, understanding their priorities and sensitivities, and working together to deliver tangible results”, the President posted on his X account, upon wrapping his visits to the two countries.

The preliminary General Government fiscal results, prepared by the Statistical Service of Cyprus (CYSTAT), were published on Tuesday, indicating a surplus of pound 0.6 mn for the period of April-June 2025.

In comparison, a deficit of pound 68.7 mn was recorded during the period of April-June 2024.

Revenue

During the period of April-June 2025, total revenue increased by pound 307.8 mn (9.5%) and amounted to pound 3,544.8 mn, compared to pound 3,237 mn in the corresponding period of 2024.

In detail, social contributions increased by pound 81.7 mn (7.5%) and amounted to pound 1,177.9 mn, compared to pound 1,096.2 mn in the second quarter of 2024.

Revenue from taxes on income and wealth increased by pound 100.6 mn (19.8%) and amounted to pound 607.7 mn, compared to pound 507.1 mn in the corresponding quarter of 2024.

Taxes on production and imports increased by pound 45.2 mn (3.8%) and amounted to pound 1,226.4 mn, compared to pound 1,181.2 mn in the second quarter of 2024, of which net VAT revenue increased by pound 22.9 mn (2.9%) and amounted to pound 811.9 mn, from pound 789 mn in the corresponding quarter of 2024.

Property income receivable increased by pound 55.3 mn and amounted to pound 84.2 mn, compared to pound 28.9 mn in the second quarter of 2024.

Capital transfers increased by pound 47.9 mn (86.6%) and amounted to pound 103.2 mn, compared to pound 55.3 mn in the corresponding quarter of 2024.

On the contrary, other current transfers decreased by pound 15.8 mn (-10.9%) to pound 129.7 mn, from pound 145.5 mn in the second quarter of 2024.

Revenue from the sale of goods and services decreased by pound 7.1 mn (-3.2%) to pound 215.7 mn, from pound 222.8 mn in the corresponding quarter of 2024.

Expenditure

During the period of April-June 2025, total expenditure increased by pound 238.5 mn (7.2%) and amounted to pound 3,544.2 mn, from pound 3,305.7 mn in the corresponding period of 2024.

Specifically, social transfers increased by pound 72.9 mn (5.2%) and amounted to pound 1,466.6 mn, compared to pound 1,393.7 mn in the second quarter of 2024.

Compensation of employees (including imputed social contributions and pensions of civil servants) increased by pound 60.5 mn (6.7%) and amounted to pound 965 mn, compared to pound 904.5 mn in the corresponding quarter of 2024.

Property income payable increased by pound 21.5 mn (13.7%) and amounted to pound 178.4 mn, compared to pound 156.9 mn in the second quarter of 2024.

Intermediate consumption increased by pound 62.3 mn (19.4%) and amounted to pound 383.6 mn, compared to pound 321.3 mn in the corresponding quarter of 2024.

The capital account increased by pound 43.2 mn (16.7%) and amounted to pound 302.6 mn (pound 262.3 mn capital formation and pound 40.3 mn capital transfers), compared to pound 259.4 mn (pound 216.7 mn capital formation and pound 42.7 mn capital transfers) in the second quarter of 2024.

On the contrary, other current expenditure decreased by pound 21.9 mn (-9.4%) to pound 211.1 mn, from pound 233 mn in the corresponding quarter of 2024.

Pafos has been included in the list of the ‘Top 100 Green Destinations Stories 2025’, highlighting global best practices in sustainable tourism, Pafos Regional Board of Tourism said in a statement on Tuesday.

As noted, Pafos was distinguished in the Culture and Tradition category for its best story and best practice, the innovative initiative to ‘unify and package’ the four museums/information centres of the Akamas area, and for promoting their experiences and the wider destination through specialised digital and technological channels, thereby increasing both visitation and visibility.

As explained, this year, 180 good practices from 33 countries were submitted, which were evaluated by a panel of leading assessors, experts, and partners, coordinated by Green Destinations. The selection criteria considered elements such as story quality, transferability, innovation level, and the inclusion of all sustainability pillars.

The competition is held under the auspices of the Top 100 Partnership, supported by the Future of Tourism Coalition, with special contributions from ITB Berlin, Quality Coast, Good Travel Guide, Travelife, Ecotourism Australia, and DEL Turismo, while the announcement of the awardees took place during the global conference held recently in Montpellier, France.

It is added that the 11th edition of the Green Destinations Top 100 competition shares and promotes stories that showcase innovative and effective initiatives and projects from destinations working towards more responsible tourism development, with the 2025 edition presenting an inspiring collection of Good Practice Stories from 30 countries.

The Top 100 Committee, chaired by Albert Salman, President of Green Destinations, emphasized that inclusion in the Top 100 list does not necessarily mean that a destination is fully sustainable, rather, it recognizes that the destination has achieved a remarkable or inspiring accomplishment in making tourism more sustainable, while sufficiently complying with the core sustainability criteria of Green Destinations, the statement concludes.

The Price Index of Construction Materials for September 2025 reached 118.96 units (base year 2021=100), recording an increase of 1.44%, according to data published by the Statistical Service on Monday.

By main commodity category, increases were recorded in minerals (3.62%), mineral products (3.30%), products of wood, insulation materials, chemicals and plastics (1.05%) and electromechanical products (0.19%), whereas a decrease was observed in metallic products (-0.59%).

Compared to the previous month, a marginal decrease of 0.08% was recorded.

For the period January-September 2025, the index recorded an increase of 1.26% compared to the corresponding period of 2024.

Deputy Minister for European Affairs, Marilena Raouna, will participate on Tuesday in the deliberations of the General Affairs Council of the European Union (EU) that will take place in Luxembourg.

According to a press release issued by the Secretariat of the Cyprus Presidency of the Council of the EU, during the Council meeting, Ministers will exchange views on the draft conclusions of the European Council to be held on 23-24 October in Brussels. The European Council is expected to address, among other issues, Ukraine, the Middle East, European defence and security, competitiveness, housing, migration, Moldova and the new Pact for the Mediterranean.

Ministers will also discuss the proposal for the new Multiannual Financial Framework for the period 2028-2034, focusing on horizontal aspects and European competitiveness.

They will also discuss the European Commission’s proposal, the European Shield of Democracy, which aims to strengthen the EU’s democratic resilience against contemporary threats such as disinformation, external interventions and the weakening of institutions, ahead of its adoption by the Commission.

The Council will also hold a hearing, on the values of the Union in Hungary and a debate will take place on the progress achieved on the simplification packages.

According to the press release, on the sidelines of the Council, the Deputy Minister will attend a working breakfast with Deputy Prime Minister of Ukraine responsible for European Integration, Taras Kachka, which will be hosted by Deputy Prime Minister and Minister of Foreign Affairs of Luxembourg, Xavier Bettel.

She will also participate, on behalf of the Minister of Foreign Affairs, in the 18th meeting of the Cooperation Council between the European Union and Uzbekistan, which will take place earlier in the day.

‘Responsible fiscal policy delivers results,’ the President of the Republic, Nikos Christodoulides wrote in a post on X regarding the revised estimate by the Statistical Service for the 2024 GDP growth rate at 3.9%.

‘Responsible fiscal policy, free from populism and empty promises, delivers results. The GDP revision confirms that the economy remains strong and is expected to record growth of 3.5%-3.9% in 2025, with public debt below 60% of GDP,’ the President noted.