Category: Cyprus News Agency

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

MEETING DATE: 05/10/2026

INDICES BASE VALUES: FTSEMed=5000, OTHERS = 1000

EURO (pound )

TRADED VALUE 177,958.71

INDEX

VALUE

%DIFF.

VALUE

FTSE/CySE 20

186.240

-1.090

166,310.390

MAIN MARKET INDEX

247.170

-1.220

52,693.140

INVESTMENT COMPANIES MARKET INDEX

2,688.520

-0.360

20,405.530

CSE GENERAL INDEX

316.970

-1.080

166,310.390

HOTELS INDEX

2,006.070

-0.350

748.800

ALTERNATIVE MARKET INDEX

2,158.800

-0.660

113,617.250

The number of building permits issued in June 2026 increased by 18.3% compared with the same month of the previous year.

According to a statement from the Statistical Service, the total value of the 751 permits in question amounted to pound 469.5 million and the total floor area to 394.7 thousand square metres, whilst these permits are expected to result in the construction of 2,122 residential units.

It is added that during the period January-June 2026, 4,401 building permits were issued, compared with 3,399 in the corresponding period of the previous year, marking an increase of 29.5%, the total value of which rose by 48.2% and the total floor area by 47.1%, whilst the number of residential units increased by 67.8%.

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (A)

FOR THE PERIOD FROM 0600 05/10/2026 UNTIL 0600 06/10/2026

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1017hPa (hectopascal)

Low pressure and unstable airmass are affecting the area. Partly cloudy weather with risk of isolated showers.

Visibility: Good, but moderate to poor in showers

Sea surface temperature: 26°C

Warnings: NIL

AREA PERIOD WIND STATE OF SEA

West Coast

Morning Variable 3 Smooth to Slight

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

Night Northwest to Northeast 3, locally at first West to Northwest 3 to 4 Smooth to Slight

South Coast

Morning Northwest 3 Smooth to Slight

Afternoon Southwest to West 3 to 4, at times locally 4 Smooth to Slight

Night Northwest 3, at times locally 3 to 4 Smooth to Slight

East Coast

Morning Variable 3 Smooth to Slight

Afternoon Southeast to Southwest 3 to 4 Smooth to Slight

Night West to Northwest 3 Smooth to Slight

North Coast

Morning Variable 3 Smooth to Slight

Afternoon West to Northwest 3 to 4, at times 4 Smooth to Slight

Night Northwest 2 to 3, near the coast Southeast to South Smooth to Slight

Significant pressures on Cyprus water resources, linked among other factors to water scarcity, water abstraction and agricultural pollution, are identified in a specific European Commission assessment on the implementation of EU water legislation.

In a statement published on Monday, the Commission presented new assessments for Member States that had not submitted their data in time to be included in the initial reports of February 2025. These include Cyprus, along with Bulgaria, Greece, Ireland, Malta, Portugal, Slovakia and Slovenia.

The Commission’s dedicated staff working document on Cyprus examines the third River Basin Management Plan and the second Flood Risk Management Plan under the Water Framework Directive and the Floods Directive.

According to the assessment, Cyprus has limited water resources, while rising temperatures, prolonged droughts and increasing demand from households, agriculture and tourism have intensified pressures.

The Commission notes that the country is among the Member States with the highest levels of the Water Exploitation Index, while also highlighting investments in a management system based on dams, seawater desalination, wastewater treatment and water reuse.

The sky is the limit when it comes to bilateral relations between Cyprus and the United States, the President of the Republic, Nikos Christodoulides, said in an interview to American media outlet Breitbart News, which was published on Sunday and was also shared by US President Donald Trump on his Truth Social account.

Speaking to Breitbart News on the sidelines of the United Nations General Assembly in New York, President Christodoulides said that American President Donald Trump has a ‘unique advantage’ in world affairs because, while he is bold, everyone knows where they are in his book, which helps him negotiate better than anyone.

He also explained how Cyprus wrapped its rotating presidency of the European Union’s council earlier this year, and how he sought to bring Europe closer both with the Eastern Mediterranean and Middle East but also with the United States.

‘The number one highlight of our presidency was to bring the region closer to the European Union,’ President Christodoulides said. ‘It took a lot of time and effort in order to make my colleagues, the European Council, understand the importance of the greater Middle East, and we are very glad. Within this context, we also had an informal meeting in Cyprus with the 27 member states; the leaders of the 27 member states, and the presidents of the institutions with leaders of the region. The second one is the importance that we attach finally as a European Union on the issue of defence. We are spending through the SAFE instrument 150 billion euros in order to enhance the capabilities of the European Union and the member states. The third point, which is very important for us, in certain issues, is we may have different approaches with the United States, but we don’t have the luxury in any way to have a transatlantic rift’, he noted.

Referring to the Cyprus problem, President Christodoulides told Breitbart News that the ‘great obstacle’ in the way of a solution is Erdogan’s intransigence, adding that every other nation in the region, including Greece, Israel, Egypt, Jordan, Lebanon, the United Arab Emirates, India, and also the United States, and others, are all working together, except Turkey, which is not.

Referring to the appointment of the new US ambassador to Cyprus, John Breslow, President Christodoulides said that the United States is Cyprus’ most important partner in trade, defence, and security in all sectors, adding that Cyprus is working very closely with the United States to upgrade its military infrastructure.

He added that in his decades of work, he has never seen Cyprus as close as it is now with America.

‘Today, I’m very glad that the United States is our closest ally; defence, security, intelligence. We are working very hard. We have U.S. investments in Cyprus on trade. The sky is the limit when it comes to our bilateral relations with the United States, and as I told you before, we’re very glad that we have the United States back in the region, especially with this administration, which fully understands the importance of the Middle East, of the greater Middle East, and we’re very glad that we’re working together’, he stressed.

He further noted that the reason why Cyprus and the United States, especially under Trump’s leadership, are natural allies is because of deep common interests, including energy, with Chevron and ExxonMobil, two of America’s biggest energy companies, being both active in Cyprus’ exclusive economic zone seeking to help produce natural gas energy.

Asked about this area of development between the two countries, President Christodoulides told Breitbart News that with developments in the Middle East throwing the world’s energy supplies into chaos, the developments in the Eastern Mediterranean as an alternative are all the more important for Europe and the world. He also said there are major energy announcements expected in early October in Cyprus that will even further deepen the ties.

He also said that Cyprus being able to help power Europe and working to create more Western energy sources is extremely important as evidenced by the Russian war in Ukraine proving that depending on malign actors for energy is a pathway to calamity for the West.

Another major area of cooperation between the U.S. and Cyprus, according to the President, is on protecting Christian minorities in the Middle East, adding that the Christian minorities in many Arab nations in the Middle East are critical to ‘stability’ and that he is working with the United States and Trump on this front.

President Christodoulides said that the ‘convergences’ with the United States and Cyprus when it comes to cultural issues like protecting Christians but also on trade and energy as well as other economic matters and most importantly on defence and security are ‘endless’. He also pointed to the hopes of movement on the idea of the India-Middle East-Europe Economic Corridor (IMEC, adding he also met with Trump in person in Egypt at the Gaza peace summit last year, and that he hopes to visit the White House soon.

One of the big developments in U.S.-Cyprus defense relations is that an arms embargo was lifted recently, and now the United States can sell weapons to Cyprus, the President said, expressing hope that the arms embargo lifting does not need annual sign-offs, but can be renewed every five years instead. He added that investments from American businesses into Cyprus, not just in defence, are happening “at historic rates right now.”

‘Another sector that is very important is we have US investment in Cyprus probably for the first time in such an extent,’ President Christodoulides said in closing, adding that American companies, by investing in Cyprus, they not only invest in a country of almost 1 million people, but ‘they invest in Europe, in a market of 450 million people, and at the same time they have access-they use Cyprus as a gateway-to the greater Middle East.’

The Research and Innovation Foundation (RIF) is launching a public consultation on the proposed Research and Innovation funding portfolio for the 2028-2034 period and invites the research, business and wider community to actively contribute to its development by submitting their views and suggestions by Monday, 2 November 2026, through the relevant online consultation tool.

The proposed portfolio provides the foundation for the country’s next generation of investments in research, innovation and technological development.

Its aim is to establish a modern, coherent and effective support framework through which talent, knowledge, technologies and innovative ideas can develop and translate into measurable economic and societal impact.

The portfolio covers the entire research and innovation value chain, from talent development and research excellence to research infrastructure, knowledge transfer and exploitation, innovative entrepreneurship, strengthening innovation within businesses, mobilising private investment, and enhancing Cyprus’ international competitiveness.

The public consultation focuses on the overall design and intervention logic of the proposed portfolio, rather than on the detailed design of individual funding programmes. The programmes that will emerge from the further development of the portfolio will be subject to separate public consultations at a later stage.

RIF encourages participants to consider the proposed framework as a whole, rather than focusing solely on individual actions or programmes.

The views and suggestions submitted will contribute to shaping a portfolio that responds to the needs of the entire research, technological development and innovation ecosystem and effectively supports all stakeholders contributing to its development.

The findings of the consultation will be used to further refine the proposed framework, develop the individual funding interventions in greater detail, and determine the financial resources required for its implementation during the 2028-2034 period.

The success of the new programming period depends on the participation and contribution of all stakeholders. Through this public consultation, RIF seeks to work together with the research community, businesses, organisations and citizens to shape an ambitious framework that will contribute to transforming Cyprus into a knowledge, innovation and high-value-added economy.

RIF would like to thank all stakeholders in advance for their participation and invites them to actively contribute to shaping the priorities that will determine the course of research and innovation in Cyprus in the years ahead.

House of Representatives President, Annita Demetriou, met with Slovak officials on Monday, during her official visit to the country, following an invitation from the President of the National Council of Slovakia, Richard Raši. A statement by the House of Representatives notes that the Slovak officials emphasised their support for the sovereignty and territorial integrity of Cyprus and for the goal of resolving the Cyprus issue in accordance with the relevant United Nations resolutions, as well as for Cyprus’ accession to Schengen zone.

Demetriou was received privately by the President of the Slovak Republic, Peter Pellegrini, and had separate meetings with the President of the National Council, Richard Raši, and the Deputy Prime Minister and Minister of Defence of Slovakia, Robert Kalinák. The Ambassador of the Republic of Cyprus to Slovakia, Michalis Karayiorgis, accompanied the President of the House of Representatives.

The House President expressed the gratitude of the Cypriot people for Slovakia’s principled position regarding the Cyprus problem and the long-standing presence of the Slovak military contingent in the United Nations Peacekeeping Force in Cyprus, as well as for the years-long contribution of the friendly country to promoting dialogue between Greek Cypriot and Turkish Cypriot political parties.

Furthermore, Demetriou highlighted the Republic’s commitment to the goal of resuming negotiations from where they left off in Crans Montana. Demetriou also pointed out that Turkey’s participation in the ‘Action for Security in Europe’ (SAFE) program is inconceivable while Turkey continues to occupy European territory.

On their part, the press release says, Slovak officials emphasised their country’s support for the sovereignty and territorial integrity of Cyprus and for the goal of resolving the Cyprus issue in accordance with the relevant United Nations resolutions. They also assured the continuation of the Slovak military contingent’s presence in Cyprus for as long as necessary, as well as the continuation of facilitating intercommunal dialogue by the Slovak Embassy in Cyprus.

They expressed, at the same time, their country’s support for the goal of Cyprus’ accession to the Schengen area. During the meeting between the Presidents of the two Parliaments, the alignment of positions between Cyprus and Slovakia on principled issues and a number of important topics on the European agenda was noted.

The Multiannual Financial Framework, migration, initiatives to bring young people closer to the parliamentary work, as well as the prospects of strengthening bilateral cooperation in the defense sector, as well as within the framework of the ‘SAFE’ program, were also discussed during the meetings.

The Chief Scientist of the Republic of Cyprus, Demetris Skourides, represented Cyprus, on behalf of the Deputy Ministry of Research, Innovation and Digital Policy, at the Ministerial Roundtable of the 23rd Science and Technology in Society (STS) Forum, held in Kyoto, Japan.

The STS Forum is one of the leading international platforms for dialogue on the role of science and technology in society, bringing together political and government leaders, scientists, academics, business leaders and representatives of international organisations in Kyoto each year. The Forum provides an opportunity to exchange views on the major opportunities and challenges arising from developments in science and technology.

According to the Research and Innovation Foundation, the high-level Ministerial Roundtable brought together Ministers and senior representatives from the fields of science, research, technology and innovation from around the world, with a focus on exchanging views on the challenges and opportunities emerging in an environment of rapid technological, social and geopolitical developments.

In his intervention, Skourides presented Cyprus’ perspectives on the role of science and technology at a time when technological developments, societal needs and geopolitical shifts are becoming increasingly interconnected.

He stressed the importance of developing policies that strengthen countries’ ability to harness emerging technologies for the benefit of society, the economy and sustainable development.

During the discussion that followed, he particularly highlighted the importance of supporting basic research, accelerating knowledge transfer and utilisation, and strengthening international cooperation as key factors in building stronger, more interconnected and resilient research and innovation ecosystems.

He also underlined the importance of cooperation between governments, the research and academic communities, and the business sector, so that scientific knowledge and technological progress can be translated into new solutions, opportunities and tangible economic and societal impact.

‘Cyprus’ participation in the Ministerial Roundtable strengthens the country’s international presence in the dialogue on research and innovation policy and creates further opportunities for knowledge exchange, the development of synergies and the strengthening of the international connections of the Cypriot research and innovation ecosystem,’ the Research and Innovation Foundation said.

On the margins of the STS Forum, Skourides held a series of bilateral meetings with the respective Ministers responsible for Research and Innovation of Egypt, Argentina and Slovenia.

During the meetings, they exchanged views on research and innovation policy and discussed opportunities to further strengthen cooperation between Cyprus and the respective countries in the fields of science, technology and innovation.

‘Cyprus’ participation in the STS Forum underscores the country’s commitment to actively contributing to the international dialogue on the future of science and technology and to strengthening international partnerships that advance research, innovation and sustainable development,’ the foundation said.

The Industrial Turnover Index reached 168.8 points (base 2021=100) in July 2026, marking a 5% increase compared with July 2025.

According to a statement from the Statistical Service, for the period January – July 2026, the index recorded an increase of 3,9% compared to the corresponding period of the previous year.

It is further noted that in manufacturing, the Industrial Turnover Index for July 2026 reached 164,5 units, recording an increase of 4,8% compared to July 2025, while increases were also recorded in water supply and materials recovery (+16,0%), mining and quarrying (+7,4%), and electricity supply (+3,4%).

Cyprus has received additional pound 119.8 million from the EU Recovery and Resilience Facility, President of the Republic Nikos Christodoulides said, stressing that the goal is for the resources to be transformed into tangible results for the economy and society.

In his written statement, the President states that last Friday, the Republic of Cyprus received another pound 119.8 million from the Recovery and Resilience Facility.

With the new disbursement, he notes, Cyprus has received pound 709 million grants, i.e. 70% of the total amount of pound 1.02 billion, while with the final disbursement expected in December, total grants are expected to reach approximately pound 992 million, i.e. a very high absorption rate of 97.3% of the total amount, he adds.

This development, the President notes, is the result of systematic and intensive work, close monitoring of schedules, daily coordination between Ministries and Services and continuous evaluation of the implementation progress of each milestone and each project.

“The goal was clear, not to waste neither time nor available European funding and, above all, to transform the resources into tangible results for the economy and society” the President underlines, adding that the Plan was completed with 221 milestones and objectives and 61 significant reforms in August 2026.

He notes that through infrastructure projects of approximately pound 600 million and 40 grant projects of pound 420 million, over 850 businesses were supported and 300 Research and Innovation projects were financed, approximately 50,000 homes installed photovoltaics, including 7,000 vulnerable households, approximately 4,300 citizens received a grant for an electric vehicle, approximately 90,000 properties were supported for connection to high-speed networks, while 4,800 children received tuition subsidies for preschool education and 750 employers received support for hiring unemployed persons.

In addition, he says, some other projects were completed, such as the Cyprus Blood Center, upgraded hospital infrastructure, photovoltaics and thermal insulation in 405 schools, multi-purpose centers for children, two model special education schools, smart water and electricity meters and the CY ALERT early warning system.

The President thanks all Ministries, Deputy Ministries, Departments and Services, local authorities, social partners and all those who worked for its implementation, especially the Ministry of Finance and the Directorate of Growth “for their decisive coordinating role”, as well as the House of Representatives “for its contribution to the timely passage of important reforms associated with the completion of the Plan”.

“A great European opportunity was transformed into specific projects, reforms and investments. With systematic work, close monitoring and consistency in implementation, the goals are transformed into tangible results that remain in society and the economy”, the President concludes.