Category: Cyprus News Agency

Minister of Transport, Communications and Works, Alexis Vafeades is in Israel on a three-day official visit.

The Ministry announced that Vafeades will exchange views with his counterpart Miri Regev on various issues under their competence.

During his visit to Israel Cyprus Minister will also meet with Patriarch Theophilos III of Jerusalem.

He returns home Thursday.

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

MEETING DATE: 20/10/2025

INDICES BASE VALUES: FTSEMed=5000, OTHERS = 1000

EURO (pound )

TRADED VALUE 665.328,21

INDEX

VALUE

%DIFF.

VALUE

FTSE/CySE 20

167,240

0,370

660.949,450

MAIN MARKET INDEX

225,200

-0,110

614.135,470

INVESTMENT COMPANIES MARKET INDEX

3.201,030

-0,300

37.745,810

CSE GENERAL INDEX

275,840

0,370

665.328,210

HOTELS INDEX

1.600,360

0,000

3.972,510

ALTERNATIVE MARKET INDEX

1.824,830

0,970

51.192,740

Three commercial agreements were signed Monday for the exploitation of the ‘Kronos’ natural gas field, which is located in Block 6 of Cyprus’ Exclusive Economic Zone, Energy Ministry announced.

The agreements were signed in the presence of the Cyprus Minister of Energy, Commerce and Industry, George Papanastasiou and the Minister of Petroleum and Mineral Resources of the Arab Republic of Egypt, Karim Badawi.

With the approval of the Development and Production Plan and the adoption of a final investment decision by the end of 2025, the production of the first gas quantities from the ‘Kronos’ field is expected in 2027, the Ministry said.

It added that this substantially contributes to the strengthening of the energy security of the region and the promotion of the Eastern Mediterranean as a strategic energy hub.

The agreements were signed in the context of the Eastern Mediterranean Energy Conference and Exhibition – EMC 2025 taking place in Limassol, by representatives of the operators of the facilities in Egypt, the Egyptian State Natural Gas Company (EGAS) and the companies Eni and TotalEnergies, which together constitute the licensed consortium of Block 6.

The commercial agreements come as a follow-up to the Host Government Agreement that was signed in Egypt in February 2025, in the presence of the Presidents of Cyprus and Egypt, between Egypt and the Eni/TotalEnergies consortium, for the development of the hydrocarbons of Block 6 of the Cypriot EEZ.

The signing of the three commercial agreements constitutes another milestone on the path to the commercial exploitation of the “Kronos” deposit and practical proof of the close cooperation between Cyprus and Egypt, the Ministry says.

MED9 leaders and King of Jordan Abdullah who convened Monday in Slovenia signed a joint statement on Gaza, Lebanon and Syria, highlighting at the same time the role of Jordan.

In particular the MED9 leaders expressed their appreciation for Jordan as a reliable and credible partner with a key role as an anchor of peace, stability and security in the Middle East and the Mediterranean region.

The Leaders welcomed the convening of Sharm El Sheikh Summit for Peace and the signing of the ceasefire agreement, hostage and humanitarian deal in Gaza. “They emphasize the importance of the implementation of the first phase of the ceasefire agreement, including the release of hostages and detainees. They call on all parties to fully commit to implement all phases of the agreement to end the war in Gaza and refrain from any actions that jeopardize this agreement”, the joint statement says.

They also called for EU participation on the Board of Peace with regards to the long-standing support offered by the EU to a comprehensive peace.

As regards the humanitarian crisis the leaders underlined the indispensable role of UNRWA and reaffirmed their commitment to continue supporting the agency in providing services to 5.9 million Palestinian refugees.

They also reiterated the primacy of land corridors, noting that all routes, of land, air, and sea, including the Cyprus Maritime Corridor, are valuable in helping to meet the vast humanitarian needs of civilians in Gaza.

They also reaffirmed their unwavering commitment to a lasting and sustainable peace based on the two-state solution in accordance with internationally agreed parameters, international law and with relevant UN Security Council resolutions and the New York Declaration on the Peaceful Settlement of the Question of Palestine and the Implementation of the Two-State Solution.

“All parties must refrain from actions that undermine the viability of the two-state solution”, they underlined.

The Leaders expressed their support to Lebanon’s stability and to the fundamental role played by the United Nations Interim Force in Lebanon (UNIFIL). They also reiterated the need to respect Lebanon’s sovereignty and territorial integrity and they called on all parties to fully implement Resolution 1701 and the ceasefire agreement of November 2024.

The Leaders reaffirmed their support to the Syrian people and their government in its efforts aimed at rebuilding Syria on the basis that guarantees its security, stability, unity, sovereignty, and territorial integrity, while promoting an inclusive political process and fulfilling the aspirations of all Syrians and preserving their rights.

The MED9 countries endorsed the roadmap announced by Jordan, Syria and the United States to end the crisis in Suwayda and Stabilizing Southern Syria, and they called for full implementation of the roadmap, and appreciate Jordan’s role to end the crisis in Suwayda governorate.

Commission greenlights Austria’s third payment request of pound 515.5 million under NextGenerationEU

Today, the Commission positively assessed Austria’s third payment request of pound 515.5 million under the Recovery and Resilience Facility, the centrepiece of NextGenerationEU.

The Commission found that Austria has satisfactorily completed the 14 milestones and targets set out in the Council Implementing Decision.

The payment request covers important steps in the delivery of seven reforms and thirteen investments that will drive positive change for citizens and businesses in Austria in the areas of renewable energy, circular economy, sustainable mobility, health, and education.

The Commission shared its preliminary assessment with the Economic and Financial Committee (EFC). The EFC has now four weeks to deliver its opinion. Once the EFC gives its positive opinion, the Commission can officially approve the payment to Austria.

More information is available in a press release online.

(For more information: Maciej Berestecki – Tel.: + 32 229-96302; Anna Wartberger – Tel: +32 2 28 20 54)

EU strengthens tax cooperation with Switzerland

Today, the Commission signed an amending protocol enhancing the existing tax cooperation agreement with Switzerland. This marks a significant step in the fight against tax fraud and evasion. This update is a necessary step to ensure further alignment with the EU Directive on Administrative Cooperation (DAC) and with OECD standards.

It expands the automatic exchange of financial account information between the EU and Switzerland to include electronic money products and digital currencies,while providing for strengthened due diligence and reporting requirements. The amending protocol establishes a new framework for cooperation between the EU and Switzerland on the recovery of claims in the field of value-added tax and commits the parties to explore mutual assistance in recovering other tax claims.

Since 2015, the EU has engaged in these exchanges, which are based on the OECD’s Common Reporting Standard, further promoting transparency and international tax cooperation. Recent updates to this standard necessitated the new amendments, which received unanimous Council approval. In addition, as requested by the Council, the existing agreement was further enhanced with the inclusion of provisions on the recovery of tax claimed.

Similar amending protocols with Andorra, Liechtenstein, Monaco and San Marino were signed last week. Adoption of those five protocols reinforces the EU’s leadership in ensuring fair and transparent tax practices globally.

Further information on the amended tax cooperation agreements is available online.

(For more information: Anna-Kaisa Itkonen – Tel.: +32 2 295 75 01; Saul Louis Goulding – Tel.: +32 2 296 47 35)

Road safety statistics for 2024 show progress continues amid challenges

In 2024, 19,940 people lost their lives in road crashes across the EU, according to statistics released by the European Commission last Friday. This represents a 2% decrease compared to 2023 and marks continued, but slow, progress toward the EU’s Vision Zero goal of halving road deaths and serious injuries by 2030 and getting close to eliminating them by 2050.

The overall ranking of countries’ fatality rates has not changed significantly: Sweden (20 deaths per million inhabitants) and Denmark (24/million) continue to have the safest roads in the EU, while Romania (78/million) and Bulgaria (74/million) reported the highest fatality rates in 2024.

Provisional data for the first six months of 2025 shows mixed trends across Member States. While some countries like Greece, Czechia, Romania, and Slovakia are giving positive signals with declining fatalities, others face renewed challenges. These early indicators underscore that road safety requires constant vigilance and sustained effort. The Commission will continue to monitor these trends closely and support Member States in addressing emerging concerns.

Commissioner for Sustainable Transport and Tourism, Apostolos Tzitzikostas, stated: ‘While these figures show continued progress, we must always remember that behind every statistic there are families and communities in pain. The fact that nearly 20,000 people lost their lives in road crashes last year is unacceptable. The European Commission will keep supporting all Member States in making roads safer. But this is a shared effort: governments, the industry, and every road user have a role to play in ensuring every trip ends safely.’

In this context, the Excellence in Road Safety Award winners were revealed. Their innovative road safety initiatives contribute to the common goal of improving road safety across Europe.

More information on the 2024 road safety statistics and the award winners is available online.

Statement by Commissioner Várhelyi on occasion of the 30th anniversary of EU medicines approval

Today marks the 30th anniversary of the first medicine approved by the Commission through the centralised EU authorisation procedure. Over the past three decades, around 2,000 medicines have been approved for the EU market, following a rigorous, science-based assessment process. To mark this occasion, Commissioner for Health and Animal Welfare, Olivér Várhelyi made the following statement:

‘Medicines are essential for strong health systems. This is why, thirty years ago, the European Union took a decisive step to strengthen public health, support innovation and reinforce the competitiveness of EU’s pharmaceutical industry by creating a centralised system for approving medicines. Ever since, this system – built on scientific excellence and rigorous safety standards – has been central to EU health policy, bringing patients and healthcare workers almost 2,000 medicines.

Under this process, companies can bring safe and innovative medicines to patients in all Member States through a single, streamlined authorisation system. Industry has enjoyed much needed predictability and efficiency, and European citizens have had faster and more equitable access to treatments for conditions such as cancer, cystic fibrosis, diabetes, hepatitis C, HIV, multiple sclerosis and several rare diseases. Europe’s pharmaceutical sector is one of our most dynamic and innovative industries, employing hundreds of thousands of people. [.]

As we mark 30 years of centralised EU medicines approval, we are more committed than ever to a strong, competitive, and innovative European pharmaceutical sector – one that brings the best treatment to patients more quickly, upholds the highest standards of safety and trust and drives economic growth. Our aim is to ensure, together, that Europe remains a leader in health innovation for the next generation.’

President von der Leyen travels to Slovenia for the Summit of Southern European Union countries (MED-9)

The President of the European Commission, Ursula von der Leyen, is in Portorož, Slovenia today to participate in the MED-9 Summit. This Summit comes days after the European Commission and the High Representative laid out a new ambitious strategy to strengthen EU relations with its Southern Mediterranean partners, the Pact for the Mediterranean, and ahead of the meeting of the European Council this Thursday.

President von der Leyen participates in a working session with MED-9 leaders devoted to European competitiveness and the next Multiannual Financial Framework. This will be followed by a working luncheon with MED-9 leaders and His Majesty King Abdullah II of Jordan, focusing on the situation in the Middle East.

The MED-9 group brings together the nine EU Member States on Europe’s southern coast: Croatia, Cyprus, France, Greece, Italy, Malta, Portugal, Slovenia, and Spain, to coordinate action and priorities between them.

(For more information: Olof Gill – Tel.: +32 2 296 59 66)

Commissioner Hansen in Brazil with a delegation of EU agri-food businesses

This week, Commissioner for Agriculture and Food Christophe Hansen will be in São Paulo, Brazil, with a delegation of EU agri-food businesses to promote European products and seize new export opportunities. Through a range of working sessions and visits, the trip will help EU agri-food exporters build business links and expand their presence in the Brazilian market, which holds strong growth potential as a destination for EU exports.

The Commissioner will be accompanied by more than 77 agri-food businesses from 19 Member States – representing sectors ranging from meat products, wine and spirits, fruits and vegetables, to processed agricultural products.

On Tuesday and Wednesday, a seminar on market access, retail site visits and exchanges with the Commissioner will take place, in order to facilitate the expanding presence of EU businesses in Brazil.

On Thursday, the Commissioner will meet Brazilian Secretary of Commerce and International relations of the Ministry of Agriculture, Luis Rua. Following this, he will deliver a speech on the importance of trade agreements to support EU exports at the Business Forum. In between the forum’s sessions, the Commissioner will participate in interviews with EU-based and Brazilian journalists. The Commissioner will then exchange with representatives of the Brazilian agricultural sector at the Federation of Industries and Agriculture.

The visit will close with a dinner hosted by the Commissioner assembling the business delegation, Brazilian importers, chambers of commerce, and other actors in the agri-food supply chain.

Paphos FC stands alone at the top of the Cyprus League by Stoiximan with 18 points, following APOEL’s 2-2 draw with Olympiakos at the conclusion of Matchday 7.

Paphos had defeated Ethnikos Achna 4-0 in the opening match of the Matchday on Friday.

On Sunday, Omonia and Aris secured victories and now sit tied in second place alongside APOEL, with all three clubs on 16 points.

Omonia Nicosia beat Ypsonas 2-1 at the “Ammochostos – Epistrofi” Stadium in the day’s early match. Later on, Aris Limassol dominated AEL with a convincing 4-0 win at Alphamega Stadium.

In Saturday’s games, Anorthosis and Akritas Chlorakas played to a 2-2 draw at “Antonis Papadopoulos” Stadium, Apollon defeated Omonia Aradippou 1-0 at Alphamega, and AEK earned a 2-0 away win over ENP at “Tasos Markou”.

Matchday 7 Results: Paphos FC – Ethnikos Achna 4-0, Apollon – Omonia Aradippou 1-0, Anorthosis – Akritas Chlorakas 2-2, ENP – AEK 0-2, Freedom24-Krasava ENY – Omonia 1-2, Aris – AEL 4-0, APOEL – Olympiakos 2-2.

Standings (after Matchday 7): Paphos FC 18, Omonia 16, Aris 16, APOEL 16, AEK 13, Apollon 12, Ethnikos 11, Akritas Chlorakas 8, Krasava Ypsonas 7, AEL 7, Olympiakos 6, Omonia Aradippou 4, Anorthosis 3, ENP 1.

Minister of Agriculture, Rural Development and Environment, Dr. Maria Panayiotou, will take part in the deliberations of the European Union Environment Council, which will take place on Tuesday, focusing on the EU Strategy for Water Resilience, climate action and the sustainable development of European economies.

In the framework of the Council, the Cypriot delegation, will present national initiatives for the Circular Economy, which are part of the Ministry’s actions for sustainable development and environmental transition.

According to a press release by the Ministry, during the deliberations, the national tools that have been developed will be presented, such as the certification system for circular economy plastics, as well as the ‘zero waste’ guidelines for buildings, hotels and public events.

The Council’s agenda includes the EU’s preparation for the United Nations Climate Change Conference (COP30), which will take place in November in Belém, Brazil.

Ministers will also be invited to adopt the Conclusions on the European Water Resilience Strategy, an issue that is a national priority for Cyprus the press release says.

Finally, Ministers will exchange of views on the European Ocean Pact.

Recognising Cyprus’ unique geopolitical position, the government is committed to maximising the enabling and value-adding role the country can play across key sectors – most notably in energy, Minister of Energy, Commerce and Industry, George Papanastasiou, said on Monday speaking at the Eastern Mediterranean Energy Conference and Exhibition (EMC 2025), that takes place in Limassol.

“Coordination at a regional level, to achieve common goals in the areas of Energy Transition and Energy Security, is of paramount importance and Cyprus continues to lead and support a number of bilateral and multilateral initiatives,” the Minister added.

He noted that the values and principles we share with regional partners, including respect for international and maritime laws, have fostered deeper consultation and collaboration.

The government’s strategy for affordable, secure and cleaner energy for all consumers – households and businesses is based on four pillars, he said. The first one is Renewable Energy. The Minister noted that “we will continue to promote the penetration of renewable sources in the country’s energy mix, whilst also working to upgrade the electricity grid and invest in storage systems to ensure efficiency and stability”. The second pillar, he added, is LNG Import and Regasification. “We remain steadfast in delivering the FSRU project, which is intended to be the cornerstone of conventional energy production on the island, ensuring reliable, affordable and cleaner energy”, Papanastasiou said.

Referring to the third pillar, which is Regional Electrification, the Minister said that connecting Cyprus’ electricity grid with those of Greece and Israel is a priority for the government, as it will finally end the country’s energy isolation, enhancing security of supply, fostering competition between energy producers and providers and creating opportunities for energy exports.

Last pillar, he noted is the Exploitation of Cypriot Gas Reserves. He recalled that Cyprus has made great progress in its exploration efforts for natural gas, with six significant discoveries to date – Aphrodite, Calypso, Glaucus, Cronos, Zeus and, most recently, Pegasus – and with more exploration to come.

“Monetisation efforts, in close partnership with our licenced block holders, are advancing and we are confident that Cyprus will soon become a natural gas producer. This will be a milestone that will enable the Republic of Cyprus to fulfil its role in unlocking cleaner energy for our region, Europe and beyond, while also delivering tangible benefits to the Cypriot economy,” he went on to say.

He noted that several monetisation options are currently under consideration, including the use of existing infrastructure in Egypt, as well as newly matured technologies such as Floating Liquefied Natural Gas (FLNG) and Modular LNG for onshore applications.

“The decisions we make now regarding infrastructure investments in Cyprus’ EEZ will be critical, not only for our initial production goals, but also for supporting our long-term ambitions as a natural gas producer,” he stressed.

In the near term, he continued, our initiatives for progressing the Cronos and Aphrodite discoveries are gaining traction, adding that we are on track to finalise the Cronos development plan by the end of this year, paving the way for the licensees’ Final Investment Decision. Similarly, for Aphrodite, he said, the licence holders are expected to complete their pre-FEED (Front-End Engineering Design) study and enter FEED within the same timeframe.

The Cypriot government’s policy framework and decision-making regarding the exploitation of our Gas Resources is guided by four value drivers, Development Speed, Creation of Cyprus EEZ Infrastructure, Production and Direct and Indirect Benefits for the Cyprus Economy, he said.

“These drivers must be considered within the broader parameters of Value and Achievability. Our efforts to make progress on exploitation will be structured through alignment with our license holders and project partners to agree and deliver on common objectives,” the Minister pointed out.

At the same time, he added, our focus on exploration also remains strong.

“I wish to once again thank and congratulate our Block 10 licence holders for the successful and safe execution of the Pegasus discovery well, announced in July this year. Continued exploration efforts by all our licence holders will further realise the hydrocarbon potential of Cyprus’ EEZ and, thus, enhance confidence in our exploitation strategy,” Papanastasiou concluded.

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (B)

FOR THE PERIOD FROM 1200 20/10/2025 UNTIL 1200 21/10/2025

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1014hPa (hectopascal)

Weak low pressure is affecting the area. The weather will be mainly fine but at times increased cloud will be present.

Visibility: Good

Sea surface temperature: 26°C

Warnings: NIL

AREA PERIOD WIND STATE OF SEA

West Coast

Afternoon West to Northwest 4 to 5, at times locally 5 Slight to Moderate

Night Northwest 3 to 4, at times locally 4 Slight

Morning Variable 3 Smooth to Slight

South Coast

Afternoon Southwest to West 4 to 5, at times locally 5 to 6 Slight to Moderate

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

Morning West to Northwest 3, at times locally 3 to 4 Slight

East Coast

Afternoon Southwest to West 4, at times locally 4 to 5 Slight

Night West to Northwest 3, at times locally 3 to 4 Slight to Moderate

Morning West to Northwest 3 Smooth to Slight

North Coast

Afternoon Southwest to West 4 to 5, at times offshore 5 Slight to Moderate

Night Southwest to West 3, offshore 3 to 4 Slight

Morning Southwest 3 Smooth to Slight

President of Cyprus, Nikos Christodoulides, will attend on Monday in Slovenia the MED9 Summit along with eight other Mediterranean EU member state leaders. On Tuesday he will pay a working visit to Croatia before departing for Brussels, to attend the European Council.

According to the Director of the President’s Press Office, Victoras Papadopoulos, the President will attend the MED9 Summit in Portoroz resort city. Papadopoulos said ina written statement that King of Jordan, Abdullah II, has been invited to attend part of the Summit’s works.

The attendees will discuss EU’s competitiveness and the Multiannual Financial Framework. A working lunch will follow, which will focus mainly on the situation in the Middle East, with King of Jordan, Abdullah II, during which the President will speak of Cyprus’ six-point initiative, based on the US President’s plan on Gaza, the statement read.

President Christodoulides will also meet with the Slovenian Prime Minister, Robert Golob, to discuss bilateral relations and the priorities of the Cyprus EU Presidency. The MED9 leaders will make joint statements to the Media on Monday afternoon.

On Monday evening, President Christodoulides will depart for Zagreb, Croatia, for a working visit in view of the assumption of the Presidency of the Council of the EU by the Republic of Cyprus during the first semester of 2026. The President will meet with his Croatian counterpart, Zoran Milanovic, as well as with the Croatian Prime Minister, Andrej Plenkovic.

Afterwards, President Christodoulides will depart for Brussels, to attend the European Council Summit.