Category: Cyprus News Agency

President, Nikos Christodoulides, and Minister of Foreign Affairs and Emigrants of Lebanon, Youssef Raggi discussed the close ties between Cyprus and Lebanon during a meeting at the Presidential Palace on Thursday, with Raggi expressing his heartfelt gratitude for the assistance provided by Cyprus to his country, as well as to President Christodoulides personally, noting in particular, ‘We thank you personally and the Republic of Cyprus for everything you are doing for us. We know what you are doing for us.’

President Christodoulides said that Raggi’s acceptance of the invitation to address the heads of the Republic’s diplomatic missions at their conference ‘is a clear indication of the importance we attach to Lebanon.’

He added that Lebanon’s territorial integrity and sovereignty are a priority for Cyprus, just as they are for Lebanon.

He also referred to the close, friendly relations he maintains with Lebanon’s President, noting their frequent telephone conversations to coordinate actions aimed at strengthening bilateral relations, which, as he said, there is the political will to strengthen even further.

He added that ‘within the framework of our membership in the EU, we are committed to and will succeed, in initiating negotiations for a comprehensive strategic agreement between the EU and Lebanon, just as we did with our initiative regarding Jordan and Egypt.”

President Christodoulides noted that he has spoken with the President of the Commission several times, adding that “I have sent her a letter regarding the need to move forward as soon as possible, and in fact, when I visited Lebanon with the President of the Commission in 2024-it was the first time she had visited Lebanon as President of the European Commission.’

He noted that ‘Cyprus, within the EU, will do everything in its power to strengthen relations between the EU and Lebanon.’

For his part, the Lebanese Foreign Minister said that he was conveying the warm greetings of Lebanese President Joseph Aoun, who considers President Christodoulides ‘a very good, close friend.’ He added, ‘we thank you personally and the Republic of Cyprus for everything you are doing for us. We know what you are doing for us.’

Referring to Cyprus EU Council Presidency at the first half of this year, Raggi congratulated the President, noting that ‘you have left your personal mark and exerted your considerable influence, and this has been to the benefit of Europe and the Mediterranean.”

“We thank you very much for what you are doing for us as Cyprus and, through you, as the EU,’ he added.

In statements about the meeting afterwards, Government Spokesperson Konstantinos Letymbiotis said that relations between the Republic of Cyprus and Lebanon, particularly in recent years, ‘are closer than ever before, especially since President Aoun took office.’

Letymbiotis stressed that Cyprus has consistently stood by Lebanon, particularly during this period, in all the fora in which it participates, within the European Union or at the United Nations level, ‘we have taken the lead in ensuring security and stability in Lebanon,’ he said.

He also pointed out that, beyond mere assistance and financial support the Republic of Cyprus has demonstrated in practice its support for the neighbouring country, ‘for a very close partner, which is Lebanon.’

He also said that ‘we have conveyed the message that, wherever and to the extent that our own capabilities allow, our priority is regional security, a crucial aspect of which is, of course, the security and stability of Lebanon.’

A meeting took place Thursday in Nicosia between Cypriot and Swiss officials who examined the progress achieved so far as regards the projects implemented within the framework of the Cyprus-Switzerland Agreements in the fields of Cohesion and Immigration.

A press release by the Directorate General Growth of the Ministry of Finance says that the 4th Annual Meeting in the context of the 2nd Swiss Contribution 2019-2029, took place today at the offices of the DG Growth, in Nicosia, chaired by Permanent Secretary Penelope Papavassiliou. The meeting, which was attended by representatives of the Swiss Confederation and the Republic of Cyprus, examined the progress of the projects implemented within the framework of the Agreements signed between the two countries, under the areas of Cohesion and Immigration.

It is noted that the Swiss Confederation signed a Memorandum of Understanding with the European Union for the 2nd Swiss Contribution, on 30 June 2022, based on which it will contribute a total amount of approximately CHF 1.3 billion to reduce economic and social inequalities in the EU and to support measures in the field of immigration.

The amount allocated to Cyprus amounts to CHF 5.2 million (pound 5.4 million) to reduce economic and social inequalities (with an implementation period of 2019-2029) and CHF 20.0 million (pound 20.8 million) to support measures in the field of migration (with an implementation period of 2019-2026 for Phase I and 2025 – 2029 for Phase II).

Projects that are being financed under the 2nd Swiss Contribution include the sectors of cohesion and immigration.

Regarding the cohesion sector, projects include ‘Preventing Domestic Violence and Protecting Victims’, with approximately pound 2 million, ‘Rare Care’, with approximately pound 2.1 million and ‘Contribution to the Committee on Missing Persons in Cyprus’, with approximately pound 1 million.

Regarding immigration, the projects are ‘Implementing efficient and high quality asylum procedure in accordance with the relevant EU Law, by the Asylum Service’, with approximately pound 8.8 million, the project ‘Supporting Assisted Voluntary Return and Reintegration’, with approximately pound 1.5 million, ‘Home for Hope – Shelter for Unaccompanied Children’, with approximately pound 2.4 million, ‘Assisted Voluntary Return Hub (AVR Hub)’,with approximately pound 1.6 million and ‘Implementation of the Integration Strategy’, with approximately pound 6.4 million.

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

MEETING DATE: 09/07/2026

INDICES BASE VALUES: FTSEMed=5000, OTHERS = 1000

EURO (pound )

TRADED VALUE 134.017,61

INDEX

VALUE

%DIFF.

VALUE

FTSE/CySE 20

182,400

1,360

129.394,510

MAIN MARKET INDEX

247,160

1,670

107.969,420

INVESTMENT COMPANIES MARKET INDEX

3.060,950

0,950

1.893,750

CSE GENERAL INDEX

310,080

1,340

129.432,410

HOTELS INDEX

1.975,180

0,000

0,000

ALTERNATIVE MARKET INDEX

2.055,820

0,230

21.546,190

* The second column presents the percentage variation of the indices as compared to the last meeting.

Cyprus showcased its food and beverage products at the Summer Fancy Food Show 2026 in New York, aiming to strengthen the international presence of Cypriot exports and promote the country’s gastronomic heritage in one of the world’s most competitive food markets.

According to an announcement by the Ministry of Energy, Commerce and Industry, the Ministry, in cooperation with the Cyprus Trade Centre in New York, participated in the exhibition, held from 28 to 30 June at the Jacob K. Javits Convention Center. The Summer Fancy Food Show is organised annually by the Specialty Food Association and is regarded as the largest international food and beverage exhibition in North America.

The Ministry said its participation formed part of the Republic of Cyprus’ strategy to enhance the international profile of Cypriot products through an information booth showcasing the quality, authenticity and uniqueness of Cyprus’ food and beverage sector.

The exhibition attracts more than 10,000 industry professionals each year and hosts over 2,400 exhibitors from numerous countries, featuring innovative products and emerging market trends.

Visitors to the Cyprus pavilion sampled a range of traditional products, including Halloumi PDO, Commandaria and other distinctive Cypriot specialties. The stand was also visited by the Consul General of the Republic of Cyprus in New York, Kyriakos Poyiatzis.

The Ministry said its participation is part of ongoing efforts to support Cypriot businesses in expanding their export activities and increasing the presence of Cypriot products in international markets.

Trade Counsellor at the Cyprus Trade Centre in New York Aristos Constantinou said participation in the exhibition offered an excellent opportunity to promote Cypriot products in the United States, while fostering business partnerships that could contribute to the growth of exports and the expansion of Cyprus’ agri-food sector in the US market.

The future of payments depends on trust said CySEC Chairman, George Theocharides, and CBC’s Executive Member, George Karatzias, in their speech on cryptoassets trends, in the Cryptocurrency, Digital Assets and the Future of Finance Summit 2026, entitled ‘Money in transition: reshaping payments for a digital generation’ held on Tuesday in Limassol. The two officials talked of the importance of supervision during a time of a structural transformation in the financial markets.

Theocharides noted that cryptoassets are no longer operating at the periphery of financial markets. ‘They are increasingly embedded within the broader financial ecosystem, interacting with traditional instruments, regulated intermediaries, and institutional investors.’

This, he said, is not a temporary trend, but a structural shift in how markets are organised, how assets are structured and issued, and how investment exposure is accessed.

According to CySEC Chairman, digital assets are increasingly being absorbed within mainstream traditional financial intermediation channels rather than operating outside them,’ he noted.

The Chairman noted that these developments have raised important supervisory considerations regarding valuation integrity, custody arrangements, liquidity risk, as well as market manipulation in underlying spot markets.

‘From a regulatory perspective, the objective is not to replace existing systems, but to ensure that new technologies operate within the same core principles of financial regulation,’ he said.

In this respect, he added, MiCA (Markets in Crypto-Assets Regulation) represents a landmark development in global financial regulation, since for the first time, a comprehensive and harmonised framework has been established for crypto-asset issuance and service provision across a major economic area.

As he said, MiCA already provides greater legal certainty, reduces fragmentation across Member States, and establishes a solid foundation for supervisory convergence, while signaling a clear policy choice: that innovation in digital finance should take place within a regulated environment that prioritises market integrity, financial stability, and investor protection.

Theocharides said that regulation must be technology-neutral, with a focus on risks, outcomes, and behaviour, rather than on specific technologies. Additionally, he said that regulatory frameworks must be robust enough to protect investors and ensure market integrity, while remaining sufficiently flexible to allow innovation and competition to flourish. Supervisory convergence and international cooperation are indispensable, he highlighted.

Cyprus, as a member of the European Union and the Eurozone financial architecture, is well positioned to act as a bridge between traditional financial services and emerging digital finance, he noted, adding that over the past decades, Cyprus has developed a strong and credible regulatory framework for investment services, fund management, and capital markets activities, fully aligned with European standards.

At the same time, it has achieved a growing engagement with financial innovation, including fintech developments, digital assets, and new market infrastructures, he pointed out.

‘CySEC’s role is to ensure that this evolution takes place within a framework that safeguards investor confidence, promotes market integrity, and supports sustainable development of the financial sector,’ he said, concluding that the challenge is to ensure that innovation serves the real economy, strengthens financial stability, and enhances trust in capital markets.

George Karatzias, Executive Board Member of the Central Bank of Cyprus, focused on the fact that digital money is no longer theoretical, but become part of the architecture of finance, the fact that innovation in money requires supervision, and that Europe must ensure that the future of payments remains anchored in public trust.

The Eurosystem aims to shape and ground a European, sovereign and integrated digital asset ecosystem around central bank money, aiming at a balanced landscape, where public and private forms of money coexist, each contributing in its own way to a more efficient, resilient and competitive European financial system, he said.

Referring to stablecoins, Karatzias said that they are now increasingly used as a bridge between traditional finance and crypto markets, highlighting however that ‘scale brings responsibility, and responsibility requires supervision’. From a supervisory standpoint, he said, the question is why a stablecoin should be trusted to remain stable under stress.

Through MiCA, he said, Europe has established a comprehensive framework for crypto-assets, introducing requirements on authorisation, transparency, disclosure, supervision, market integrity and consumer protection.

‘The European philosophy is one of regulated innovation,’ he noted, mentioning that if stablecoins perform a monetary function, they must meet a monetary standard of resilience, transparency and accountability.

Additionally, he said that the stablecoin market remains overwhelmingly foreign currency denominated, while euro-denominated stablecoins still play only a minor role. ‘For Europe, this raises questions of currency substitution, external infrastructure dependency and monetary sovereignty,’ he stressed, adding that properly regulated euro-denominated stablecoin initiatives may therefore have a role to play, as part of a broader European architecture underpinned by trusted public money.

According to Karatzias, the broader transformation of payments and market infrastructures is the reason why Europe has chosen to respond by building the legal, supervisory and institutional foundations for responsible innovation.

Referring to the digital euro, he said that it is being designed to work seamlessly with commercial bank accounts to provide a pan-European retail payment option that would reduce dependence on non-European payment solutions and strengthen our resilience and autonomy.

He noted that the ECB plans to run a 12-month pilot in the second half of 2027 to test a beta version of the digital euro, including real-life situations such as making in-shop or person-to-person payment. As he said, further clarity is expected from the ECB soon on the potential participation of Cypriot market participants that have expressed interest in the pilot.

‘The future of money may be digital, programmable and instant. But it must also remain safe, interoperable and anchored in the euro. That is how we preserve trust – not only in payments, but in money itself,’ he concluded.

Police arrested 52 people on Wednesday in Larnaka and Paphos districts for staying illegally in the Republic of Cyprus, during an operation by the Aliens and Immigration Service.

According to a Police press release, the operation was carried out as part of efforts by the Police and the Deputy Ministry of Migration to combat illegal migration and illegal employment.

Repatriation procedures are already under way for 24 of those arrested and are expected to be completed within the day, while the same procedures will also be followed for the remaining persons.

Police said operations to combat illegal stay in the Republic of Cyprus and illegal employment continue on a daily basis.

The European Commission announced on Wednesday infringement procedures against Cyprus concerning labour rights and worker health protection.

Cyprus, together with Luxembourg, received a letter of formal notice for failing to transpose Directive (EU) 2022/2041 on adequate minimum wages. This directive aims to strengthen social fairness, boost productivity and competitiveness, and promote collective bargaining on wage-setting. Member States had a deadline of November 15, 2024,to transpose the directive into national law, but Cyprus has not yet notified any transposition measures to the Commission.

At the same time, Cyprus was included in the list of 6 member states, along with Greece, Spain, the Netherlands, Poland, Slovakia, that received a reasoned opinion for failing to fully transpose Directive (EU) 2023/2668 on protecting workers from asbestos exposure. Asbestos is a dangerous carcinogenic substance, with approximately 75% of workplace cancers in the EU linked to it. The directive includes a reduction in the exposure limit from 0.1 to 0.01 fibres per cubic centimetre, based on the latest scientific and technological developments. Member States had a deadline of December 21, 2025 to transpose most of the directive’s provisions, while the remaining provisions must be transposed by December 21, 2029.

The member states involved have now two months to respond and take the necessary measures to comply. In the absence of a satisfactory response, the Commission may proceed with a reasoned opinion for the first case on minimum wages, or refer the second case on asbestos to the Court of Justice of the European Union, with possible financial penalties.

“The greater participation of citizens, dialogue and accountability are the answer to the growing sense among citizens that their voice is not heard and that decisions are taken far from them,” indicated President of the Republic of Cyprus Nikos Christodoulides.

According a presidency press release, he was speaking via videoconference at a roundtable discussion organised by ‘The Economist’ magazine in Athens on the topic ” Democracy in decline or in a crisis?’.

President Christodoulides referred to policies adopted by the government for a stronger participatory democracy, such as the establishment of the “Legislative Initiative of Citizens,” so that with the collection of 5,000 signatures citizens would acquire the right to shape policy; lowering the eligibility age for election to 21; and the automatic registration on the electoral rolls and right to vote for all citizens who turn 17.

He also referred to several other digital tools that strengthen citizens’ voice in the decision-making process through the use of technology, such as e-consultation for public consultations, the “Voice of the Citizen” for advisory votes, the “Ekfrasi” platform, which gives young people a forum to submit proposals and suggestions, and the online platform diakivernisi.gov.cy, through which citizens can at any time see the progress of the implementation of government actions and policies.

“I do not believe that Democracy is in decline, but we cannot ignore that it is being tested,” the President of the Republic noted at the opening of the discussion, which was also attended by the President of the Hellenic Parliament, Konstantinos Tasoulas.

He specifically said that Democracy is being tested by the questioning of institutions, by new technologies and new modes of communication that drastically change public debate and the citizen’s relationship with politics, and above all, it is being tested by the growing sense among citizens that politics is not adapting quickly enough to their real concerns and to the changes that affect their daily lives.

“And this, I believe, is perhaps the most important challenge facing our democracies today,” he stressed.

The President of the Republic referred to the successful completion of the Cyprus Presidency of the Council of the European Union, which aimed to bring the Union closer to citizens and to understand their everyday concerns, to be able to adapt to the major changes of our era and to provide substantive answers to the real problems of our societies.

“There is a direct connection between the quality of Democracy and the ability of institutions to adapt, to listen and to provide solutions,” he said, noting that the great challenge ahead of us is to ensure that Democracy does not merely observe the developments of the digital age, but adapts and makes use of its possibilities.

“And the digital age, despite the undeniable risks it creates, at the same time offers us new tools for more direct communication and more meaningful participation. And we must make these tools our allies,” he concluded.

Nicosia is in touch with participants at the NATO summit for information purposes but also for the possibility of reiterating the key positions in regard with the Republic of Cyprus’ interests, Minister of Foreign Affairs Constantinos Kombos told MPs on Tuesday.

Together with Deputy Minister for European Affairs Marilena Raouna, Kombos briefed the new parliamentary committee on foreign and European affairs, about the Republic of Cyprus foreign policy as well as the results of the Cyprus EU Council Presidency at the first half of this year.

In statements after the committee meeting and asked whether Nicosia is kept informed about the NATO summit taking place in Ankara this week, the Foreign Affairs Minister said that that it is a very important political event, clarifying that the Republic of Cyprus is not a participant and has therefore no possibility of intervening over what is happening there.

“What we have done, is that have previously been in touch with participants and even today there will be contacts, so that we may be able to put forward again and reiterate key positions to do with the Republic of Cyprus’ interests but also for reasons of been generally informed as to what will take place,” he noted.

Therefore, he added, “we are monitoring with particular attention what will take place” but always bearing in mind that essentially it is a discussion taking place without the Republic of Cyprus’ being able to participate.

The Foreign Affairs Minister pointed out that “as soon as we are informed in greater detail” the government will evaluate all outcomes.

Responding to a question as to whether there is something new regarding UN Secretary General’s personal envoy Maria Angela Holguin’s next visit in Cyprus, Kombos said questions about Holguin’s schedule should be addressed to her, adding that there have been some changes from the initial announcement, and spoke of a discussion which took place for reasons of substance. He noted however that there is nothing more he can say in public about the matter.

Addressing MPs earlier the Foreign Affairs Minister said that his Ministry is moving forward in an effort to expand the country’s diplomatic footprint.

Among other things he noted that the Republic of Cyprus’ position is clear on the role the EU has on the Cyprus issue, adding that today this position is adopted by both the EU and in references in the draft reports of the UN SG released this week.

Referring to Turkey’s Cyprus related obligations the Minister said that it is not something which can be taken out of the equation, adding that Nicosia has the political will to discuss these matters, adding that it depends on Turkey itself in relation with there being activity in the Cyprus issue.

Replying to MPs questions about Cyprus being included in the US visa waiver program, Kombos said that the technical evaluation on visas concluded in May last year, pointing out that rejections stood at 2.55% which was the fourth best result from candidate countries.

He added that the US government believes the visa waiver program may affect its migration policy and that it has been frozen. The effort continues, he noted, adding that there have been contacts with the State Department and officials who are responsible about migration policy.

Responding to a question about the arms embargo against Cyprus, the Foreign Affairs Minister explained that there are two bills pending before the US legislative bodies, one which provides for a three year and another for a five-year lift in the embargo.

Asked about Cyprus’ accession to Schengen, Kombos replied that the matter is expected to be tabled at the College of Commissioners this week and to be then sent to the Council for a decision.

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results due to Turkish intransigence. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.

After informal meetings in 2025, followed by a hiatus of several months, deliberations are underway for a new meeting in broader format to be held, as the term of the UN Secretary-General Antonio Guterres nears its end. María Angela Holguín, Guterres’ Personal Envoy on Cyprus, is tasked to engage with the parties.

Weather Temperature for Cyprus

Today’s weather and temperatures for Cyprus according to the Department of Meteorology

Date 08/07/2026

Station

TEMPERATURE (C) (FROM 20:00 PC of the previous one until the time of the show)

Humidity at

1200 UTC

Highest

Lowest

Nicosia (Athalassa)

37

23

39

Larnaka Airport

32

23

63

Limassol (New Port)

30

21

66

Pafos Airport

31

23

66

Frenaros

33

24

60

Prodromos

25

16

63

Polis Pafos

35

22

36