Category: Cyprus News Agency

The Cyprus Shipping Deputy Ministry (SDM) is proud to announce the official launch of the Cyprus Shipping 1-Stop-Shop Portal (CYSh1P), a centralized digital platform designed to streamline and modernize all SDM maritime services.

CYSh1P provides stakeholders, including shipowners, lawyers, ship managers, seafarers, and classification societies, with easy, centralized access to a comprehensive range of maritime services, including:

Ship Registration and Registry Transactions

Transactions related to technical (safety and security) and environmental matters for Cyprus-Flagged Vessels

Seafarer Training and Certification

Tonnage Tax System (TTS) Services

Small and High-Speed Vessel Services

The portal’s services will be introduced in phases. The first set of eServices, launched today, 14 October 2025, enables users to:

Submit applications for the issuance of Seafarer Registration Certificates, as well as the issuance or renewal of Seaman’s Books and Endorsements

Submit applications for the issuance or renewal of Seafarer Training Certificates of Proficiency, Documentary Evidence, and Certificates of Competency (CoC)

With the launch of CYSh1P’s initial eServices, the previous eSAS platform (https://esas.dms.gov.cy/) has been discontinued. Users can no longer submit new applications through eSAS.

Accessing CYSh1P

To use the above two CYSh1P e-services, users must register and enrol in the relevant services:

Cyprus-registered companies must use their CY Login account to register. Companies that do not have a company CY Login account must obtain one the soonest possible.

Foreign companies can register directly through the CYSh1P portal.

A detailed User Guide is available on the CYSh1P platform (https://cysh1p.dms.gov.cy/) with step-by-step instructions for registration, profile creation, credentials setup, and service enrollment.

The SDM is committed to enhancing the efficiency, transparency, and accessibility of Cyprus’ maritime services through digital innovation, ensuring a seamless experience for all stakeholders in the shipping industry.

The International Monetary Fund (IMF) expects a higher growth rate for Cyprus for 2025 and 2026 in its October edition of the World Economic Outlook (WEO) compared with the estimates included in the April edition. Specifically, it projects that the growth rate will reach 2.9% of GDP in 2025 and 2.8% in 2026, compared with 2.5% for 2025 and 2.7% for 2026 in the April projections.

In addition, the IMF estimates that consumer prices will increase by only 0.7% in 2025, marking the lowest rise in the euro area, and by 1.3% in 2026. By comparison, in the April estimates, inflation was projected at 2.3% for 2025 and 2% for 2026.

Regarding the current account balance, the revised projections indicate a deficit of -8.5% in 2025 and -9.1% in 2026, higher than the April forecasts of -7.3% and -7.8%, respectively.

The unemployment forecast has also been revised downward. Unemployment is expected to reach 4.5% in 2025 and 4.7% in 2026, compared with 4.8% for 2025 and 5% for 2026 in the April projections.

The IMF reports overall improved global growth rates due to the smaller-than-expected impact of tariff impositions. Specifically, it expects global growth to slow from 3.3% in 2024 to 3.2% in 2025, and further to 3.1% in 2026. By comparison, the April estimates had projected growth at 2.8% for 2025 and 3% for 2026.

However, IMF notes that “trade policy uncertainty remains elevated in the absence of clear, transparent, and durable agreements among trading partners-and with attention starting to shift from the eventual level of tariffs to their impact on prices, investment, and consumption”.

The results of the annual survey that records investment trends, priorities, and challenges of European businesses, the EIB Investment Survey 2025, were published on Tuesday by the European Investment Bank (EIB). The survey, conducted in collaboration with Ipsos Public Affairs, is based on data from approximately 12,000 companies across all EU countries as well as the United States. The report’s key findings present a picture of resilience but also challenges, particularly in an environment of geopolitical uncertainty and economic instability.

As regards Cyprus, the country is among those with the highest percentage of companies participating in international trade, whether through exports, imports, or both. However, Cyprus lags behind in investments for climate adaptation and energy efficiency compared to other European countries.

Regarding investment trends and priorities, the survey shows that 86% of European companies made investments in the past year, a figure that remains stable compared to 2024 (87%). However, expectations for increased investment are more modest, with the net balance of companies anticipating growth falling to 4% from 8% the previous year.

European companies focus primarily on replacement investments (43%) and less on expanding production capacity (26%), in contrast to US companies, where the corresponding figure is 37%. Some 35% of European companies’ investments are directed toward intangible assets such as research and development (R and D), training, software, and organizational processes, while 13% is allocated to the development of new products and services. Large companies and manufacturing firms show greater resilience in investment, while the construction sector is more cautious.

With regard to international trade and supply chains, the survey paints a picture of adequate integration of European companies into global trade, with manufacturing and large companies holding the highest positions. However, changes in tariffs and regulations are a significant source of concern, with 77% of US companies expressing worry compared to 48% of European companies. European companies adopt a more balanced approach, with only 7% reducing the share of imported goods and services and 19% diversifying or increasing the number of countries from which they import.

On the green transition and climate action, 92% of European companies are taking measures to reduce greenhouse gas emissions, but Cyprus ranks last, with only 69% of companies investing in this direction. Only 20% of Cypriot companies have set targets for reducing emissions, the lowest percentage in the EU (EU average: 47%). European companies invest more in waste reduction, energy efficiency, sustainable transport, and green innovation. However, despite Cyprus’s high participation in international trade, its investments in energy efficiency remain below the European average.

Additionally, 68% of European companies have suffered losses due to extreme weather events such as floods, fires, or storms. Some 53% of European companies are taking measures to address natural risks related to climate change, compared to 55% in the US.

Regarding digitization and the use of artificial intelligence, 37% of European companies use AI, a figure similar to the 36% in the US, while Cyprus ranks sixth from the bottom at 23%. However, only 55% of European companies using AI apply it to at least two internal processes, compared to 81% in the US. This indicates that European companies could better leverage the benefits of AI by systematically applying it across a broader range of activities.

The main barriers to investment for European companies remain uncertainty (83%), lack of skilled personnel (79%), and high energy costs (75%). Some 16% of European companies benefit from policy support, primarily for the green transition (41%) and innovation (29%).

European companies lag behind their American counterparts in terms of women’s representation in senior management and company ownership, with Cyprus standing out for its strong performance in gender equality, ranking second in the EU and first in Southern Europe.

European University Cyprus (EUC) has once again been recognized as one of the top employers in Cyprus, ranking among the national Top 4 Workplaces for the fourth consecutive year. On a European level, EUC also earned a prestigious spot on the ‘Great Place to Work® – Best Small and Medium Workplaces in EuropeS’ list, securing the #71 position among the 100 best work environments. This remarkable achievement reaffirms EUC’s dedication to fostering a positive and inclusive workplace.

The certification followed a rigorous evaluation process that assessed EUC’s work environment and organizational culture. The results underscore the university’s exceptional HR practices and continuous efforts to retain our supportive, innovative and equitable workplace of more than 1500 employees.

This distinction highlights the university’s commitment to providing a workplace that fosters innovation, equality, collaboration, and continuous professional growth. European University Cyprus has introduced robust gender equality policies, enforces a zero-tolerance approach to workplace harassment, and continually enhances its HR practices and employee benefits to address the evolving needs of its staff, ensuring an environment where every employee can thrive.

Beyond academic and research excellence, European University Cyprus places strong emphasis on the professional development of its employees, by giving them the opportunity to participate in local and European initiatives, including corporate training programs, ERASMUS exchanges, and specialized conferences both in Cyprus and abroad. This continuous investment in employee development and engagement is reflected in its successful ranking among Europe’s leading workplaces.

The strength of EUC lies in its team-oriented approach, where employees work collaboratively, participate equally, and invest collectively. This shared commitment sets the University apart and distinguishes it within the academic landscape.

Loukia Polygerinos-Tzyrkas, the Director of Human Resources at EUC, stated: ‘It is with great pride that we received this recognition, which attests to the high standards of our working environment. We remain committed to offering our employees the right conditions and resources for continuous skill development, fostering academic excellence and innovation.’

As one of Cyprus’s leading universities, European University Cyprus has 7 Schools, offering more than 80 undergraduate, graduate, and doctoral degree programs, with a student body of more than 12,600 students. Over the past decade, EUC has rapidly modernized and expanded the curricula on offer, introducing innovative academic programs and enhancing the scope and quality of higher education in Cyprus. This academic leadership goes hand in hand with EUC’s commitment to fostering an outstanding workplace environment, where excellence in education is matched by excellence in employee experience.

A significant milestone in the European University Cyprus’s international expansion strategy was the inauguration of the EUC Medical School in Frankfurt in 2022, making EUC the first Cypriot university with a presence abroad. This was followed by the completion of a major campus expansion in Nicosia in 2024. The new state-of-the-art building was designed to address the growing needs of the School of Medicine and School of Dentistry, as well as the Health Sciences programs. Emphasis has been placed on the establishment of the new School of Veterinary Medicine, featuring fully equipped laboratories and advanced infrastructure that comply with the highest European standards.

Looking ahead, EUC remains committed to strengthening the scientific community in Cyprus and positioning itself as a leading hub of education, research, and innovation for the wider Eastern Mediterranean region.

European University Cyprus is part of Galileo Global Education, the largest network of higher education institutions in Europe, comprising 54 academic institutions, 91 campuses across 18 countries, and over 300,000 students. It is synonymous with quality education, high-tech innovation, industry and community engagement, and the strong employability of its students and graduates.

The reform of the institution of the Attorney General through the separation of its dual role was the focus of the Annual Conference of the Law Office Academy in Nicosia. President Nikos Christodoulides, House of Representatives President Annita Demetriou, Attorney General George Savvides, and European Commissioner for Justice Michael McGrath addressed the conference themed ‘Historical Evolution, Prospects and Challenges for the Institution of the Attorney General of the Republic”, as Cyprus moves forward with plans to reform one of its most powerful constitutional institutions.

President Christodoulides calls for modernisation of the Attorney General’s institution

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President Nikos Christodoulides stressed the need to modernise the institution of the Attorney General through the separation of its existing dual role. He said the reform responds to society’s demand for greater independence, transparency and the avoidance of potential conflicts of interest.

‘The separation of this dual role is necessary as a measure of modernisation and as a requirement of the society for reasons of independence, full transparency and the avoidance of possible conflicts of interest or roles,’ President Christodoulides said.

The proposed government reforms, he explained, would assign the Attorney General’s criminal prosecution powers to a new Office of the Prosecutor General, while the Attorney General would remain the state’s legal adviser and head of the Law Office.

He noted that the reform aligns with recommendations by the Venice Commission, the European Commission’s Rule of Law reports, and GRECO, adding that it would bring Cyprus closer to European and international standards.

President Christodoulides acknowledged the reservations expressed by the Attorney General regarding the constitutionality of the legislative proposal, saying that such concerns are fully respected and will be discussed within the framework of dialogue.

EU backs Cyprus reform to separate Attorney General’s dual role, says Commissioner McGrath

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Addressing the conference in a recorded video message European Commissioner for Justice Michael McGrath said that separating the dual role of the Attorney General and establishing an independent Office of the Prosecutor General would be a crucial step toward strengthening both accountability and judicial independence in Cyprus.

McGrath reaffirmed the European Commission’s strong support for the ongoing plans to reform the institution and to implement the relevant recommendation included in the EU’s annual Rule of Law Report on Cyprus.

‘This is indeed a unique opportunity to strengthen the institution’s independence and also its accountability, and to bring it more into line with modern concepts of the rule of law,’ McGrath said. He added that the separation of the dual role of the Attorney General and the creation of the Office of the Prosecutor General would ‘benefit both the independence of justice, but also the fight against corruption,’ while reinforcing democratic checks and balances and improving the business environment.

He went on to highlight the Commission’s efforts to strengthen the justice sector through judicial training and digitalisation, noting that a new EU judicial training strategy will promote digital literacy and the use of artificial intelligence to make justice systems more efficient and resilient.

Referring to the European Public Prosecutor’s Office (EPPO), the Commissioner described it as ‘absolutely essential’ in protecting the Union’s budget and taxpayers’ money. He announced that the Commission will publish an evaluation report on the EPPO in June next year, to be followed by a proposal to revise its founding regulation and invited Member States to contribute their views to the process.

House President: AG reform strengthens independence and accountability

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In her address, House President Annita Demetriou said that the discussion about the separation of powers of the Attorney General of the Republic of Cyprus does not aim to breach the institution, but to ensure and strengthen the independence, accountability and effectiveness of our legal system, for the benefit of the Republic.

Demetriou added that the Law Office of the Republic is not a distant or inaccessible institution but an institution ‘deeply connected to our everyday life, to the essence of the Rule of Law, to the functioning of the Republic and, ultimately, to the pursuit of a better life for all citizens.’

The institution of the Attorney General of the Republic, she noted, was called upon in the past to address political instability and complex constitutional challenges adding that today “it is called upon to respond to even more complex and specific challenges, since modern society requires absolute transparency, accountability and efficiency. And the institution of the Attorney General of the Republic is at the forefront of this challenge.”

Attorney General calls for legislative action to safeguard institutions

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Speaking at the Conference, the Attorney General, George Savvides, called on the House of Representatives to proceed with legislative measures to address the deliberate undermining of state institutions and to safeguard constitutional order.

Savvides warned that the exercise of such responsibilities is often met with criticism and distortion, amplified by the impact of social media, which shapes public perception through misinformation or incomplete legal know-how. Savvides said it was time for Parliament to move forward with legislative measures, bearing in mind that the deliberate undermining of institutions destroys democracy and is not protected by the right to freedom of expression.

Addressing the ongoing debate on the reform of the Attorney General’s Office, Savvides reiterated his ‘serious reservations regarding the constitutionality’ of the proposed restructuring, particularly the separation of powers between the Attorney General and a potential new Prosecutor General’s Office. He noted that while the reform draws on recommendations from international bodies such as GRECO and the European Commission’s Rule of Law Report, it was prepared by the Governent ‘without prior consultation’ with the Law Office.

Savvides also reaffirmed his Office’s commitment to combating corruption, describing it as ‘a continuous and evolving challenge.’ He pointed to the establishment of a special Task Force in 2022 that coordinates all agencies handling corruption cases and to positive feedback from the European Commission’s 2025 Rule of Law Report, which acknowledged Cyprus’ progress in this area.

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

MEETING DATE: 14/10/2025

INDICES BASE VALUES: FTSEMed=5000, OTHERS = 1000

EURO (pound )

TRADED VALUE 317.508,86

INDEX

VALUE

%DIFF.

VALUE

FTSE/CySE 20

171,640

-0,920

313.059,780

MAIN MARKET INDEX

233,160

-1,440

249.678,620

INVESTMENT COMPANIES MARKET INDEX

3.249,600

-0,720

44.576,540

CSE GENERAL INDEX

282,910

-0,910

316.908,860

HOTELS INDEX

1.710,030

0,000

323,000

ALTERNATIVE MARKET INDEX

1.844,210

-0,080

67.830,240

The average gross monthly earnings of employees for 2024 were pound 2.483 compared to pound 2.363 in 2023 recording an increase of 5,1% compared to the previous year. For 2023 the corresponding increase was 7,3%. Median gross monthly earnings of employees were pound 1.881.

According to the estimates of the Statistical Service, the highest percentage of employees (14,2%) is observed among employees who earn between pound 1.000 and pound 1.249, followed by the groups of employees who earn between pound 1.250 and pound 1.499 (11,6%) and those who earn between pound 1.500 and pound 1.749 (11,2%).

The average gross monthly earnings by branch of economic activity, for 2024, range from pound 941 in the Agriculture, Forestry and Fishing sector to pound 4.710 in the Financial and Insurance Activities sector.

Compared to 2023, there is a decrease of 2% in the Real Estate Activities sector and of 0,8% in the Mining and Quarrying sector. It is noted that these sectors employ a small number of workers, which results in more pronounced fluctuations. This means, it says, that small changes in the composition of the workforce or other factors can have a greater impact on the results of these sectors.

In all other economic activity sectors, an increase is observed compared to the previous year, with the largest increase occurring in the Information and Communication sector (8,1%), followed by the Human Health and Social Work Activities sector (7,6%) and the Water Supply, Sewerage, Waste Management and Remediation Activities sector (6,9%).

The average gross monthly earnings of Cypriots for 2024 were pound 2.506 and of non-Cypriots pound 2.434. The annual change in average gross monthly earnings for Cypriot employees was 5,4% and for non-Cypriot employees it was 4,3%.

It says that the median gross monthly earnings for Cypriot employees were pound 2.053 and for non-Cypriot employees were pound 1.544.

Compared to Cypriot employees, non-Cypriot employees have higher percentages in both the lowest.

FOR THE PERIOD FROM 1800 14/10/2025 UNTIL 1800 15/10/2025

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 coverage will be present at times.

Visibility: Good

Sea surface temperature: 26°C

Warnings: NIL

AREA

PERIOD

WIND

STATE OF SEA

West Coast

Night

Northwest to Northeast 3

Smooth to Slight

Morning

Variable 3, later Southwest to Northwest

Smooth to Slight

Afternoon

Southwest to Northwest 3, gradually West to Northwest 3 to 4

Smooth to Slight

South Coast

Night

Northwest to North 3, at times locally Northwest 3 to 4

Smooth to Slight

Morning

Variable 3, later East to Southeast

Smooth to Slight

Afternoon

East to Southeast 3, gradually South to Southwest 3 to 4

Smooth to Slight

East Coast

Night

West to Northwest 3

Smooth to Slight

Morning

Variable 3, later Northeast to East

Smooth to Slight

Afternoon

Northeast to East 3, gradually Southeast to Southwest

Smooth to Slight

North Coast

Night

Southeast to Southwest 3

Smooth to Slight

Morning

Variable 3, later Northwest

Smooth to Slight

Afternoon

Northwest 3, locally 3 to 4

Smooth to Slight

Defence Minister Vasilis Palmas travels to Brussels where he will take part in an EU Foreign Affairs Council, in its defence configuration, on Wednesday, while he will also have separate meetings with head of European diplomacy Kaja Kallas and European Commissioner for Defence and Space Andrius Kubilius.

During the Council, Defence Ministers will discuss a scoping paper which includes the key directions of the Defence Readiness Road Map 2030 which will officially be presented at the October European Council, a Defence Ministry press release issued here on Tuesday says.

“The aim is to define the strategic priorities and actions necessary for strengthening European defence and EU strategic autonomy,” it adds.

The Municipality of Nicosia received on Monday the European Heritage Award ‘Europa Nostra 2025’ for the restoration of the Old Municipal Market, in a ceremony in Brussels, according to an announcement by the Municipality on Tuesday.

The award, in the ‘Conservation and Adaptive Reuse’ category, was received by Mayor of Nicosia, Charalambos Prountzos, together with the project’s architect, George Tsaggarides.

According to the announcement, the jury noted that ‘this adaptive reuse project transformed a modernist-functionalist market located near the Buffer Zone of Nicosia into a centre of excellence, while preserving its original architectural character’, adding that young professionals played a key role in the restoration.

‘The new AGORA hub has contributed to the revitalisation of a divided city by balancing historical preservation with economic and social sustainability,’ the Jury added.

Upon receiving the award, the Mayor of Nicosia ‘stressed, among other things, that the Municipality of Nicosia expresses its pride in this European distinction, which highlights the city’s commitment to the preservation of cultural heritage and sustainable urban development,’ it said. Prountzos also said that the new AGORA creative knowledge hub has significantly contributed to the revitalisation of a divided city, balancing between the preservation of historic heritage and social and economic sustainability.

It adds that the pound 5 million project was implemented within the framework of the ‘THALIA 2021-2027’ programme.

‘Located near the Buffer Zone that still divides Nicosia, the Nicosia Old Municipal Market has been reborn as AGORA – a multifunctional civic hub combining heritage conservation, innovation, and inclusion’, it said. Designed in 1965 by architect Stavros Economou, the concrete modernist building originally housed a market on the ground floor and municipal offices above, it adds, noting that, after the city’s division in 1974, a section of the building was functioning as a neglected market while part of it was abandoned.

The recent restoration, led by architect George Tsaggarides for the Nicosia Municipality, was informed by extensive technical research and oral histories, it also noted.

The building now houses CYENS Centre of Excellence, a research and innovation hub supported by local universities and international partners, such as UCL and the Max Planck Institute. It adds that the project strengthens bicommunal cooperation, since it hosts Turkish Cypriot researchers and young scientists, and functions as a space for meeting, participation and creation.