Industrial Turnover Index rose 5% in July 2026

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%).

President welcomes additional pound 119,8 mln from EU Recovery and Resilience Facility

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.

Deposits, consumer loans and mortgages rates up in August 2026

The interest rates of deposits as well as consumer loans and mortgages were up in August this year, data released by the Cyprus Central Bank on Monday show.

In a press release the CCB presented the key developments in interest rates relating to new deposit and loan agreements, including those that have been renegotiated, with August 2026 as the reference month.

Specifically, it is stated that the interest rate on term deposits of up to one year held by households rose to 1.35%, compared with 1.27% the previous month, whilst the corresponding rate for deposits from non-financial corporations remained unchanged at 1.56%, compared with the previous month.

Similarly, the interest rate on consumer loans rose to 7.12%, compared with 6.94% the previous month, whilst the interest rate on loans for the purchase of residential property rose to 4.16%, compared with 3.78% the previous month.

Furthermore, the interest rate on loans to non-financial corporations for amounts up to pound 1 million fell to 4.45%, compared with 4.47% the previous month, whilst the interest rate on loans to non-financial corporations for amounts exceeding pound 1 million fell to 3.67%, compared with 4.29% the previous month.

It is added that in August 2026, net new loans fell to pound 251.4 million, (out of a total of pound 390.1 million in new loans) compared with pound 415.0 million (out of a total of pound 686.1 million in new loans) the previous month.

In particular, it is statd that net new consumer loans fell to pound 19.3 million (out of a total of pound 20.7 million in new loans), compared with pound 23.9 million the previous month (out of a total of pound 26.5 million in new loans).

Similarly, net new loans for house purchases fell to pound 114.4 million (out of a total of pound 141.9 million in new loans), compared with pound 149.5 million the previous month (out of a total of pound 205.8 million in new loans), whilst net new loans to non-financial corporations for amounts up to pound 1 million fell to pound 35.5 million (out of a total of pound 42.8 million in new loans), compared with pound 52.3 million the previous month (out of a total of pound 70.4 million in new loans).

Net new loans to non-financial corporations for amounts over pound 1 million fell to pound 77.0 million (out of a total of pound 178.1 million in new loans), compared with pound 162.3 million the previous month (out of a total of pound 354.6 million in new loans).

Cyprus records lowest share of teachers under 30 in the EU, according to Eurostat

Cyprus recorded the lowest share of teachers aged under 30 in the EU in 2024, at 3.1%, according to data published by Eurostat on Monday.

After Cyprus, the lowest shares of young teachers were recorded in Portugal, at 3.3%, and Poland, at 4.0%. At the other end of the scale, Luxembourg recorded the highest share of teachers under 30, at 15.3%, followed by Denmark at 15.2%, Belgium at 14.9% and Austria at 14.6%.

According to Eurostat, a total of 5.30 million teachers worked in primary and secondary schools across the EU in 2024, an increase of 36,500 compared with 2023.

Women accounted for 72.9% of all teachers, while men made up 27.1%.

PRESS RELEASE – ?UROPEAN COMMISSION

Today, the European Commission positively assessed Finland’s fifth payment request of pound 229.2 million under the Recovery and Resilience Facility, the centrepiece of NextGenerationEU.

This is an important step in the delivery of the reforms and investments tied to this payment request, in the areas of decarbonisation, environmental sustainability, green permitting, digitalisation, cybersecurity, social welfare and healthcare, continuous learning, research infrastructure and support for innovative growth in targeted economic sectors.

The Commission found that Finland has satisfactorily completed all the 10 milestones and 12 targets set out in the Council Implementing Decision.

Flagship measures in this payment request include: fuelling green research and development with new openings for research in key areas such as electricity storage, clean energy, energy efficiency, decarbonisation of industry and renewable hydrogen; strengthening competitiveness by supporting projects to help innovative companies grow internationally, reinforcing Finland’s strategic specialisation and its export-driven economic backbone; delivering on environmental sustainability by improving soil quality through the treatment of more than 50,000 hectares of fields with gypsum; reinforcing youth centres by deploying additional 100 professionals to provide health, education and social services to young people; and digitalising lifelong learning by creating new services and opportunities in continuous learning to address training needs and support guidance, competence development and career planning.

The European Commission is stepping up its support for Member States’ counter-drone capabilities with an additional pound 130 million under the Border Management and Visa Instrument (BMVI), as announced at the Justice and Home Affairs Council on 1 October. This is part of the EU’s efforts to strengthen border surveillance and improve responses to emerging security threats.

The new funding comes on top of an initial allocation of pound 250 million as announced in December 2025 and a further pound 169 million made available earlier this year to fund surveillance drones and related equipment for use by Frontex, the European Border and Coast Guard Agency, and Member States. This brings the total funding available for surveillance and counter-drone technology under the Home Affairs funds to more than half a billion euro.

The funding will help Member States reinforce situational awareness, better protect external borders and address risks linked to unauthorised or hostile drone activity. It reflects the Commission’s wider objective of equipping national authorities with modern tools to strengthen the EU’s external borders and increase internal security.

It builds on Commission’s continuous action to strengthen the EU’s drone and counter-drone capabilities. In February, the Commission launched the EU Action Plan on Drone and Counter Drone Security protecting airspace and critical infrastructure from malicious drone threats, including the creation of a Counter-Drone Centre of Excellence to support innovation in counter-drone systems.

It also complements funding already available to Member States under the European Defence Fund to develop advanced drone and counter-drone technologies. Through Security Action for Europe (SAFE) programme, Member States also committed to jointly procure in drone and counter-drone systems.

Today, at the 10th EU-Moldova Association Council, the European Commission disbursed an additional pound 157 million to Moldova, reaffirming the EU’s support for the country’s reform path.

This third instalment under the Growth Plan for the Republic of Moldova follows the Commission’s positive assessment that Moldova had successfully fulfilled 18 reforms linked to the Growth Plan, covering all seven areas of the Plan: private sector development, economic resilience, economic governance, social cohesion and labour markets, energy, green transition, and good governance.

With this latest payment, the total amount made available to Moldova under the Plan reaches already pound 661 million. With this additional payment, Moldova continues to show steady determination and progress on this Reform Agenda, turning reforms into opportunities for the people and businesses.

The Commission continues to stand by Moldova on the implementation of the Growth Plan. This instrument has the capacity to support Moldova’s economic growth and job creation by accelerating reforms and improving the country’s access to the EU Single Market, thus bringing Moldova closer to EU membership.

More information can be found in the press release.

the European Commission published an EU analysis of the OECD’s PISA 2025 results, which confirms a sustained decline in basic skills among 15-year-olds across the EU.

The EU findings show that students underachieve in all three core domains: 33.9% in mathematics, 31.3% in reading, and 25.9% in science. This means the EU is moving further away from its 2030 target of reducing underachievement below 15% in each subject. Excellence is also declining. In 2025, the share of top performers in the EU stands at 4.8% in reading, 6.4% in science, and 6.8% in mathematics, well below the EU’s 2030 target of at least 12% in each subject. No EU country reaches the target in reading or science, and only two do so in mathematics.

The analysis also highlights major equity challenges. Disadvantaged students are around four times more likely to underachieve in science than advantaged students, while advantaged students are about eight times more likely to be top performers.

This analysis comes at a timely moment, ahead of the publication of the Education package this year, with which the Commission intends to propose measures to support Member States in reversing this trend and support them in future-proof education in the age of artificial intelligence.

Executive Vice-President for Social Rights and Skills, Quality Jobs and Preparedness, Roxana Mînzatu, said: ‘On World Teachers’ Day, we celebrate the confidence teachers build and the curiosity they inspire. They deserve the time, training and resources to do this vital work. Our upcoming Education package will help countries support teachers, strengthen basic skills and prepare education for the age of AI. Every young person should leave school with the skills and confidence to shape their own future’

The Commission has proposed several measures during this mandate, including the [https://action%20plan%20on%20basic%20skills%20(legal%20document)%20-%20european%20education%20area/]Action Plan on Basic Skills, the STEM Education Strategic Plan, the European Literacy Coalition, and the EU-OECD AI Literacy Framework for Primary and Secondary Education, amongst others. The EU PISA 2025 Policy Brief can be found online. More information can be found in the factsheet.

On Tuesday and Wednesday, Commissioner for Climate, Net-Zero and Clean Growth, Wopke Hoekstra, will be in Fiji and Tuvalu to advance climate negotiations with global partners ahead of the COP31 United Nations Climate Change Conference taking place in Antalya, Trkiye, in November. Next week’s meetings follow the work already done at the Bonn Climate Change Conference in June this year.

In Tuvalu and Fiji, Commissioner Hoekstra is expected to reiterate the message of President of the Commission, Ursula von der Leyen, at her State of the Union speech in September, where she said that ‘Europe can, must and will stay the course on its climate targets’. Ahead of pre-COP, the Commissioner said: ‘Climate change is a challenge for all, but for the Islands it is existential. That is why the EU’s engagement at the pre-COP in Fiji is so important. The EU is staying the course on climate action and will continue to show leadership at COP. I look forward to engaging with all Parties and putting forward our priorities. Clean electrification needs to be at the heart of the discussion. We also need to accelerate implementation of the Paris Agreement, guided by science, deliver on commitments already made, and ensure better access to climate finance, particularly for the most vulnerable.’

The Commissioner will attend the Pre-COP Leaders’ plenary meeting and will deliver remarks at the opening and keynote session ‘Keeping 1.5 within reach’, followed by a plenary discussion on COP31 priorities on Wednesday. He will also participate in high-level panels and thematic sessions focused on the energy transition, climate finance and community resilience in the Pacific, as well as on climate adaptation, mitigation and the just transition.

The Commissioner will also have a series of bilateral meetings in the margins of the event such as with the Trkiye and Australia COP31 Presidencies, the UN Deputy Secretary-General Amina Mohamad, UN Framework Convention of Climate Change Executive Secretary Simon Stiell, and UN Special Adviser to the Secretary-General on Climate Action and Just Transition, Selwin Hart, as well as with a series of ministers from Southeast Asia and Oceania. He will also visit a coastal adaptation Project in Tuvalu and take part in an exchange with local Tuvaluan community representatives around intergenerational unity and cultural resilience in face of climate change.

Thousands of visitors enjoy Limassol Wine Festival

Thousands of visitors attended the 65th Wine Festival at the Limassol Public Gardens over the past nine days, which concluded on Sunday, 4 October 2026.

According to a statement from Limassol Municipality, at the official closing ceremony, Yiannis Armeftis speech, was delivered by the Chairman of the Municipality’s Cultural Committee, Michalis Michael, who emphasised that “this year’s event proved that tradition is not something static. It evolves, is enriched and is proudly passed on to younger generations, whilst offering a unique cultural experience to every guest.”

As noted, throughout the nine-day event (26 September-4 October), visitors had the opportunity to sample Cypriot wines and traditional flavours, and to enjoy a varied programme that included major music concerts, theatre performances, folklore events, as well as creative activities for children. This year, parallel events took place in the wine-producing villages and the Komandaria producing villages of Limassol, specifically in Arsos and Agios Mamas.

A special touch was added to this year’s event by the accompanying visual arts activities, such as the A Wine Cartoon Exhibition in the Public Garden, organised in collaboration with the Association of Cypriot Cartoonists ‘GEL.A.’ and the ‘Pin Cartoon and Sketch Workshop’, as well as the Photography Exhibition at the Municipal Hall, organised in collaboration with the Cyprus Photographic Society.

Yellow warning in force for isolated heavy thunderstorms on Sunday

Cyprus’ Meteorology Department issued a yellow weather warning for isolated heavy thunderstorms on Sunday.

According to the warning, which is in force from 3:30 until 18:00 on Sunday, isolated heavy thunderstorms are expected to affect the island at times. Hail is possible during thunderstorms, while winds may vary and strengthen, it said. Locally, the precipitation rate is expected to exceed 35 millimetres per hour.

”The future is very bright’ Ambassador Breslow tells CNA on Cyprus- US defence cooperation

‘The future is very bright’ US Ambassador John Breslow has told CNA about Cyprus – US defence and military cooperation.

In his first interview since the assumption of his duties in September, given on board the USS Ro?sevelt, which visited the port of Limassol, and after US navy and marines marched for the first time at the annual Independence Day parade Ambassador Breslow replies to questions about defence and military cooperation between the two countries.

Asked to give some examples of what has been achieved since a 2024-2029 roadmap for bilateral defence cooperation was signed between Cyprus and the US the Ambassador said that ‘the roadmap has already started, and it’s going great.’

‘I would just tell you it’s for five years and it will be up about the end of President Trump’s term,’ he noted, adding that ‘one thing I want to do for sure is when that happens before President Trump leaves office, because he appointed me, is to call him and say, hey, this needs to be extended for, you know, another term.’

As to actions taken so far to do with the Roadmap Ambassador Breslow spoke of a planned increase of some facilities at the Paphos Airport and the US and Cyprus Cyclops program, ‘which is a wonderful program’, as he noted. He explained that that in the context of Cyclops, a US funded training centre in Cyprus, training sessions have taken place in areas such as cyber security and border security, adding that training is with the New Jersey National Guard mostly.

‘A lot of people have benefited from it and it’s a wonderful, wonderful program,’ he added.

As to a likely renewal of the Roadmap the US Ambassador said that ‘it’s kind of too early to talk about renewal now. We’re in the middle of it, but it should be renewed because it’s breaking new ground for Cyprus and the United States.’

Asked about the presence of the USS Roosevelt in Limassol port and whether it marks a new era of visits in Cyprus by US vessels and whether there are any plans for joint exercises to bolster naval security in the region Ambassador Breslow said that ‘I think there are plans for a lot of different military operations here in Cyprus, for defensive operations.’

‘And the future is really bright,’ he noted, adding however that ‘I can’t delineate on some of them.’

Invited to divulge something that he would be able to say he replied: ‘Well, I think that you’re going to see more destroyers and ships come to port just like this one and drop off. And there are some exercises that they’re doing together, like the Cyclops. And so, we just want to continue that.’

Replying to a question about US position on an eventual membership of Cyprus to NATO and whether the US would support an application of Cyprus to the Partnership for Peace program the US Ambassador said that ‘first of all, let me just tell you that I think the issue of Cyprus joining NATO first begins with the people of Cyprus. I mean, I think they have to decide that that’s something that they want to do.’

‘And I think the abilities that the United States and Cyprus are putting together is almost like NATO. I mean, the United States is going to protect Cyprus in the future. And I think that’s really important. And so, what happens in the future, I can’t predict. I don’t think anybody can predict, but I think the United States is going to be very, very supportive,’ the Ambassador said.

Asked what would the US government’s position be on a permanent lifting of the arms embargo to Cyprus which is now renewed every year he replied that ‘I can’t tell you what the government’s position is, but I can tell you there’s increased momentum from the Senate to increase the time of ITAR.’

‘They’ve talked about three years, five years,’ he added. ‘Senator (Cory) Booker, I know, is very interested in doing that. And some of his people were here recently and we talked about it,’ he said. So, Ambassador Breslow continued, ‘I think in the future maybe ITAR can be extended, but it’s not my decision. I obviously don’t make policy. It’s the Congress and the President that does that.’ ‘But I think there’s some momentum to get that done,’ he noted.

Invited to say how he finds Cyprus he explained that ‘I’ve only been here for a month. I’ve never been to Cyprus. I couldn’t come until I was confirmed by the Senate.’

‘I love Cyprus. My wife Sonia and I have really fallen in love with it. In fact, we’ve been taking tour trips around the island. And on our first trip, my wife said to me, ‘I love this place. When you’re done being Ambassador, I want to live here.’ So that ought to tell you how much we love it,’ he noted.

Asked to say what his thoughts are as he begins his term as Ambassador to Cyprus, he replied that ‘I am very excited about serving. In fact, even though I’ve only been here for one month, I can see at the end I’m going to be very sad to leave Cyprus. I really enjoy it. Such a challenge.’

‘And the people I have met are so nice and so wonderful. And one of the things that amazes me is it seems like everybody’s smiling and everybody loves what they’re doing,’ Ambassador Breslow concluded.

President announces monthly allowance for vulnerable patients with breast cancer

President of the Republic Nikos Christodoulides on Saturday announced a monthly allowance for vulnerable patients with breast cancer for the duration of their treatment and for up to 12 months after its completion, as well as free transport for patients from remote areas of the Nicosia district to oncology centres.

Addressing the Pink Silhouettes March at the old GSP stadium in Nicosia, President Christodoulides said both measures had been proposed by Europa Donna Cyprus and that the state had decided to implement them.

‘The most important thing, as I promised at the first march I attended, is that each time we move forward with new policies to announce,’ he said.

The President said that tackling cancer involves not only diagnosis but also the quality and speed of treatment, stressing that these should not depend on where patients live or on their financial circumstances.

He also underlined the need for a holistic approach covering rehabilitation, psychological support and assistance for patients returning to work and everyday life.

Referring to the establishment of the National Cancer Institute and the appointment of its first Board of Directors, Christodoulides said they would contribute significantly to implementing such an approach, covering prevention, early diagnosis, treatment, research, rehabilitation and follow-up after treatment.

The President described Europa Donna Cyprus as a partner and ally of the state, expressing confidence that their cooperation would be further strengthened through the operation of the National Cancer Institute.

He also made particular reference to Stella Kyriakides, a founding member and President of Europa Donna Cyprus, former EU Health Commissioner, whom he described as a symbol of Europa Donna Cyprus, noting that she has been campaigning for many years for people affected by cancer.

‘My dear Stella, we honour you and thank you for everything you have offered and continue to offer,’ he said.

Europa Donna Cyprus is an independent, non-profit organisation and member of Europa Donna – The European Breast Cancer Coalition, which consists of 47 member countries. The Organisation aims to provide support services to patients with breast cancer and gynaecological cancer, to assert patients’ rights, as well as to raise public awareness, contributing to prevention, early diagnosis and optimal treatment.

Its primary objective is to raise awareness of breast and gynaecological cancers, and encourage people to advocate for improved education, appropriate screening, optimal treatment and increased funding for research.