Category: Cyprus News Agency

Poultry eggs for hatching amounted to 1,681,350 in May 2026, which are placed in incubation for meat production, marking an increase of 4.8% compared with May 2025, according to data published on Monday by the Cyprus Statistical Service.

As for poultry eggs for hatching placed in incubation for egg production, these reached 104,900, showing a large increase of 30.6% compared with last May, when they amounted to 80,320.

Meanwhile, the use of female chicks for egg production amounted to 25,350 in May 2026, recording a large decrease of 56.0% compared with last May.

The number of male and female chicks for fattening reached 1,190,930, showing a decrease of 5.2% compared with May 2025.

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (B)

FOR THE PERIOD FROM 1200 30/06/2026 UNTIL 1200 01/07/2026

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1009hPa (hectopascal)

Seasonal low pressure is affecting the area. The weather will be mainly fine, but later tonight and during dawn locally increased low cloud coverage is possible.

Visibility: Good

Sea surface temperature: 26°C

Warnings: NIL

AREA PERIOD WIND STATE OF SEA

West Coast

Afternoon West to Northwest 3 to 4, locally 4 to 5 Slight

Night West to Northwest 3 to 4 Slight

Morning West to Northwest 3 to 4, soon 4 Slight

South Coast

Afternoon Southwest to West 3 to 4, locally 4 to 5 Slight

Night Southwest to Northwest 3 to 4, locally near the coast Variable 3 Slight

Morning South to Southwest 3 to 4, soon Southwest to West 4 Slight

East Coast

Afternoon South to Southwest 3 to 4, locally 4 Smooth to Slight

Night Southwest to Northwest 3 Smooth to Slight

Morning South to Southwest 3, soon 3 to 4 Smooth to Slight

North Coast

Afternoon Southwest to West 3 to 4, locally 4 to 5 Slight

Night South to Southwest 3 to 4, locally near the coast Southeast to Southwest 3 Slight

Morning South to Southwest 3, soon 3 to 4 Slight

The Council of the European Union and the European Parliament on Tuesday reached a provisional agreement on targeted amendments to the Eurovignette Directive, aimed at strengthening legal certainty and ensuring the harmonised application of the rules governing road tolls and user charges for heavy-duty vehicles, ahead of the entry into force of the new CO2 emission standards on 1 July 2026.

According to a Council statement, the amendments clarify how the Directive’s rules apply to different categories of heavy-duty vehicles and CO2 emission classes, providing greater legal certainty for road haulage operators, national authorities and toll service providers.

In a statement included in the announcement, Minister of Transport, Communications and Works Alexis Vafeades said that the agreement provides the legal certainty needed by transport operators, tolling authorities and service providers in view of the implementation of the new CO2 emission standards for heavy-duty vehicles. He added that the clarifications introduced by the Directive will contribute to a smoother and more harmonised application of the rules across the European Union.

He further noted that, over the past six months, the Cyprus Presidency had delivered tangible results towards creating a European transport network that is more competitive, more resilient and more sustainable for the future.

According to the Council, the provisional agreement clarifies key definitions relating to CO2 emissions, including those concerning zero-emission and low-emission vehicles, vehicle groups, emission reduction trajectories, and reference CO2 emissions.

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (C)

FOR THE PERIOD FROM 1800 30/06/2026 UNTIL 1800 01/07/2026

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1006hPa (hectopascal)

Seasonal low pressure is affecting the area. The weather will be mainly fine, but later tonight and during dawn locally increased low cloud coverage is possible.

Visibility: Good

Sea surface temperature: 26°C

Warnings: NIL

AREA PERIOD WIND STATE OF SEA

West Coast

Night West to Northwest 3 to 4 Slight

Morning West to Northwest 3 to 4, soon 4 Slight

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

South Coast

Night Southwest to Northwest 3 to 4, locally near the coast Variable 3 Slight

Morning South to Southwest 3 to 4, soon Southwest to West 4 Slight

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

East Coast

Night Southwest to Northwest 3 Smooth to Slight

Morning South to Southwest 3, soon 3 to 4 Smooth to Slight

Afternoon South to Southwest 4, locally 4 to 5 Smooth to Slight, locally Slight

North Coast

Night South to Southwest 3 to 4, locally near the coast Southeast to Southwest 3 Slight

Morning South to Southwest 3, soon 3 to 4 Slight

Afternoon Southwest to West 4 to 5, locally 5 Slight, locally Slight to Moderate

The Republic of Cyprus, ExxonMobil and QatarEnergy signed on Tuesday a declaration of commercial discovery for Glaucus and Pegasus gas discoveries and a continued collaboration statement, with President Nikos Christodoulides speaking of “a milestone of strategic importance” and Energy Minister Michael Damianos pointing out that it further strengthens Cyprus’ position on the regional energy map and offers new impetus to the Eastern Mediterranean’s growing role as an emerging energy hub.

Earlier President Christodoulides had received ExxonMobil and QatarEnergy executives at the Presidential Palace.

Addressing the signing ceremony which followed Damianos said that Exxon’s interest in Blocks 4 and 10A is another strong vote of confidence in Cyprus’ energy programme and the country’s credibility as a reliable energy partner.

ExxonMobil’s Vice President for Exploration and New Ventures, John Ardill, said that the company anticipates the final investment decision for Glaucus and Pegasus to occur in 2029 and the production startup in 2033.

In regard to the broader exploration in Block 4 and 10A, he said that the first thing will be to reprocess some existing seismic data to improve the image and then that will help inform the prospect inventory and potential path to drilling, ‘but we have more work to do before we will be ready to drill on those blocks’.

In his speech, Damianos said that the signing of this declaration is an important milestone for offshore exploration in Cyprus’ Exclusive Economic Zone, reaffirming both its significant potential and shared commitment to the responsible development of the natural gas resources in Block 10.

Welcoming, ExxonMobil’s Vice President for Exploration and New Ventures, John Ardill, the Head of ExxonMobil Global LNG, Peter Clarke, and QatarEnergy’s Manager for International Upstream and Exploration, Ali Abdulla Al-Mana, the Minister thanked them for the productive meeting and constructive exchange of views they had earlier with the President of the Republic, and expressed deep appreciation for the strong partnership that has been built over the years.

‘The Glaucus and Pegasus discoveries represent two of the most significant achievements of Cyprus’ offshore exploration programme. Today’s declaration of commercial discovery marks the transition to the next phase of their development, bringing us closer to unlocking these valuable resources. At the same time, it further strengthens Cyprus’ position on the regional energy map and offers new impetus to the Eastern Mediterranean’s growing role as an emerging energy hub’, continued the Minister.

He added the government is equally encouraged by the consortium’s interest in pursuing additional exploration opportunities within the country’s EEZ. ‘The interest expressed in Blocks 4 and 10A is another strong vote of confidence in Cyprus’ energy programme, our country’s credibility as a reliable energy partner, and the prospects for expanding our successful cooperation’, he stressed.

‘Looking ahead, we remain committed to working closely together in the same spirit of trust, transparency and effectiveness that has brought us to this point. I am confident that our partnership will continue to deliver results that benefit not only the Republic of Cyprus and our licensees, but also the broader region’, he concluded.

For his part Ardill said that this is a very important day today for Cyprus and Exxon’s investment in energy.

‘This has been the culmination of eight years of work since we were awarded the blocks in 2017, discovery in 2019, second discovery last year, so with that under our belt, it is now the second point. It is very important to recognise that exploration success and this declaration of commerciality milestone. That really takes us from looking for energy to developing energy, which is a fundamentally different step, and we have the full team here that’s going to help implement that’, he continued.

He added that the concept of a European energy hub is realised when the molecules start flowing, ‘and that’s what we are here to initiate today, so a very historic point’.

On next steps, Exxon’s Vice President said that the company has been successful in block 10 and it wants to expand that.

‘We are present in Cyprus, Egypt and Greece, drilling in all three, so looking ahead in the near term, we will be drilling again in Cyprus at the end of this year on the Pegasus appraisal programme. As the minister mentioned, we will expand the exploration acreage footprint to include block 4 and block 10A and continue to look for additional resources’, he explained.

‘Being able to work together to put infrastructure in the ground for block 10 enables additional molecules to be developed and that is really the start of unlocking Cyprus’s gas development and getting those molecules flowing for Cyprus. This is a hugely important day for all of us, very hard work to get here. Delighted to be here today and this important point, moment in time for ExxonMobil. We are extremely proud of this milestone along with our very strong partnership with Qatar Energy. We are delighted to be here and to share in this important day’, he concluded.

Asked after the signing ceremony about the different scenarios Exxon is exploring, Ardill said that it is great to discover gas, adding it takes longer to develop than most people think.

‘We discovered Glaucus in 2019, Pegasus last year and we have been doing appraisal drilling to understand the subsurface and that is enabling us now with sufficient confidence to go towards a declaration of commerciality. A very important milestone, working very closely with the government, with the support of the Minister and the President and to move through this important milestone’, he continued.

‘That takes us then on a journey, some additional drilling at the end of this year to get that last piece of information. Then we will go into what is called front-end engineering and design feed, where we design the facility, and then the next step is final investment decision, we anticipate that will occur in 2029, and that is on a critical path to do the subsurface modelling, the engineering work and then make the investment decision and build the facility and we anticipate production startup in 2033’, he further noted, adding that when laying out these schedules, there is always an effort to do better than that, ‘so we have committed to 2033 but we hope we can move faster’.

Asked if an onshore facility is being contemplated or will gas be channelled to Egypt, Exxon’s Vice President said that right now they have the subsurface fields.

‘What we do is a concept challenge, we look at all the different ways we could develop these molecules and the different concepts are a facility in Cyprus with a pipeline tie back to Egypt. and there is existing liquefied natural gas facilities, there are LNG facilities that we can utilise. An alternative concept is floating LNG where we do everything on a floating vessel, typically more challenging from a cost standpoint’, he explained.

‘Then if you have a very large resource, you can build onshore LNG trains like there are in Qatar today but that is a bigger resource than we have found to date here. So the leading concept is probably a pipeline tie back to Egypt given the infrastructure and everything you have seen between the government of Cyprus and the government of Egypt gives us a lot of confidence that there is good government-to-government coordination, the agreements in place to leverage that eastern Mediterranean energy hub concept’, he added.

Asked when drilling will start in Block 4 or 10A, Exxon’s senior executive said that they have a rig under contract now. ‘We anticipate rig delivery around the end of the year, maybe December and that is subject to the rig being freed up from existing work. The first drilling will occur on Block 10 where we have wells that we are designing right now and permitting and that’s key to gather that additional information on Pegasus which is a critical path to do the subsurface modelling. So that’s the first thing we’ll do’, he then said.

In regard to the broader exploration in Block 4 and 10A, he said that the first thing will be to reprocess some existing seismic data to improve the image and then that will help inform the prospect inventory and potential path to drilling, ‘but we have more work to do before we will be ready to drill on those blocks’.

‘We have been working very diligently together between government and investor to make these discoveries and we are working very diligently to get the gas flowing for the people of Cyprus. This is both a revenue stream and energy security and that is extremely important’, he stressed, reiterating that 2033 will be when gas molecules should be flowing and that energy security will be realised.

In his statements, Damianos said that the final investment decision (FID) for the Kronos field is moving forward, as are the Aphrodite field and Exxon’s blocks.

‘The next stage will be another licensing round, possibly within the next one to two years, during which decisions will be made once we have completed the projects we have initiated during this period,’ he added.

Talks with Israel at “very advanced stage”

Asked if there were any recent developments regarding the ‘Aphrodite’ field, the Minister said that the project is proceeding according to schedule. ‘We’re moving forward with the FID around December-January, and the final investment decision will be made within six to twelve months, by 2027,’ he noted.

Asked whether negotiations with Israel would resume now that the dispute over the Ishai field is coming to an end, Damianos said that the negotiations are at a very advanced stage.

‘We had a productive meeting yesterday at the Ministry here in Nicosia, where important commercial terms were agreed upon; some legal issues remain, so we are moving forward by resolving several of the outstanding issues, and we hope to finalize the deal in the near future,’ he concluded.

Cyprus enters new phase in natural gas resources development, President says

Receiving the ExxonMobil and Qatar Energy delegation earlier today at the Presidential Palace, the President of the Republic, Nikos Christodoulides, said that ‘we are excited about today’s announcements, they are clear proof and a vote of confidence in the prospects of Cyprus’s EEZ, as well as in the prospects of the Eastern Mediterranean developing into a potential energy corridor for Europe. We look forward to even more positive announcements in the near future’.

He added they would be specifically discussing additional blocks, and expressed the hope they would be soon be in a position to make announcements.

‘For us, the fact that ExxonMobil and Qatar Petroleum are operating in our EEZ is one of the most significant developments, and I must publicly commend your work, your professionalism, and your leadership in the energy sector; we are very happy and excited to be working with you’, he noted

For his part, ExxonMobil Vice President noted that it had been a long journey for the company since 2017, pointing out that results are never a given, yet here they have discovered two deposits, which is wonderful for Cyprus, as he said, noting that the next challenge is to develop the fields. ‘The project was very successful for everyone involved’, he added.

In a post on X following the signing ceremony, President Christodoulides, said that Cyprus country is entering a new phase in the development of its natural gas resources within the Exclusive Economic Zone of the Republic of Cyprus.

‘Today’s signing of the ‘Declaration of Commerciality’ for the Glaucus and Pegasus discoveries marks a milestone of strategic importance for the Republic of Cyprus and a decisive step forward in the implementation of our national energy strategy. It also represents a major step towards establishing the Eastern Mediterranean as a credible alternative energy corridor for Europe’, he continues.

He added the signing further confirms the significant potential of Cyprus’ Exclusive Economic Zone, marks the transition to the next stage of development of the discoveries in Block 10, and highlights the opportunities that lie ahead for the Cypriot economy, energy security, investment, and the further strengthening of our country’s geostrategic role.

He further noted that the advanced discussions with the ExxonMobil-QatarEnergy consortium regarding Blocks 4 and 10A are progressing towards their successful completion, building on the significant progress already achieved and opening up new opportunities for the Republic of Cyprus.

‘Through trusted partnerships with leading international energy companies such as ExxonMobil and QatarEnergy, our country continues to strengthen its position as a reliable energy partner, a pillar of stability and cooperation, and a bridge between the Eastern Mediterranean and Europe, contributing to regional energy security, the diversification of energy supply, and the European Union’s broader strategic objectives’, he concluded.

The Index of Industrial Output Prices for May 2026 reached 125,7 units (base 2021=100), recording an increase of 2.5% compared to the corresponding month of the previous year, according to data published on Tuesday by the Statistical Service.

Compared to the corresponding month of the previous year, an increase was recorded in all sectors, as follows: water supply and materials recovery 7.3%, electricity supply 4.7%, manufacturing 1.8% and mining and quarrying 1.7%.

By division of economic activity in manufacturing, in May 2026 compared to the corresponding month of the previous year, increases were recorded in the manufacture of electronic and optical products and electrical equipment (7.9%), the manufacture of furniture, other manufacturing and repair and installation of machinery and equipment (5.6%), the manufacture of basic metals and fabricated metal products (5.1%), the manufacture of wood and products of wood and cork, except furniture (4.2%) and the manufacture of machinery and equipment, motor vehicles and other transport equipment (1.8%), while no division recorded a decrease.

No change was recorded in the manufacture of food products, beverages and tobacco products and the manufacture of textiles, wearing apparel and leather products.

In May 2026, compared to April 2026, the index recorded an increase of 3%, remaining stable in mining and quarrying, while it showed an increase in electricity supply by 13.4%, in water supply and materials recovery by 2.1% and in manufacturing by 0.8%.

For the period January-May 2026, the index showed an increase of 0.6% compared to the corresponding period of 2025.

President of the Republic, Nikos Christodoulides, described on Tuesday the Cyprus Presidency of the Council of the EU as one of the most substantive and productive presidencies in recent years and announced that the Deputy Ministry for European Affairs and the European teams in the Ministries, will continue their work in order to utilize the expertise acquired.

The President was speaking at the closing ceremony of the Cyprus EU Presidency held at the ‘Filoxenia’ Conference Center, in the presence of Deputy Minister for European Affairs, Marilena Raouna, and Minister of Foreign Affairs, Constantinos Kombos, hundreds of state officials, volunteers and all those who contributed to the Presidency.

The Cypriot President spoke of an internationally recognized success that strengthened the role and voice of Cyprus in the European Union. He stated that the success of the Cyprus Presidency exceeded all expectations and attributed the outcome to the many months of preparation, the professionalism and the collective effort of those who worked for its implementation.

Moreover, he stressed that Cyprus has proven that, despite its small size and the fact that it is the only member state of the European Union still under occupation, it can successfully organize and lead such an important European process.

‘Small Cyprus, the only member state of the European Union under occupation, can organize, can coordinate and lead such a great effort in a way that wins the respect of everyone,’ he underlined.

The President of the Republic said that Cyprus exercised its EU Presidency with self-confidence noting that, despite its small size, it claimed an active role and achieved substantive results.

This approach, he pointed out, contributed to the Cyprus EU Presidency being internationally recognized as one of the most substantive and productive in recent years, despite the particularly demanding geopolitical conditions that prevailed during the six-month period, and the many international crisis.

The President thanked Deputy Minister for European Affairs, Marilena Raouna, for coordinating the whole effort, as well as Minister of Foreign Affairs Constantinos Kombos, the members of the Council of Ministers, the officials of all ministries and other government departments and volunteers, as well as the media that covered the Presidency.

He also announced that the Government decided to maintain both the Deputy Ministry for European Affairs and the European departments in the Ministries, so that the expertise acquired could be utilized.

Finally, he said that all those who worked for the Cyprus EU Presidency should feel proud of their contribution.

‘Be proud, because this success is also your own personal achievement,’ he concluded.

In her statements, the Deputy Minister of European Affairs, said that Cyprus has proven in practice that even a small state can play a decisive role in the European Union, provided it has a plan, effectiveness and strong preparation.

Raouna pointed out that the Cyprus Presidency has managed to establish Cyprus as a reliable mediator, achieving progress on a number of difficult European files.

Presenting the report of the Cypriot Presidency, she said that during the six-month period, approximately 1,600 meetings were held in Brussels, more than 300 events in Cyprus, 19 informal ministerial meetings, as well as the first informal European Council Summit ever hosted in Cyprus, while the country welcomed more than 30,000 visitors.

Raouna said that the completion of the Cyprus Presidency does not mark the end of the effort, but the beginning of a new period during which the country will utilize the experience and know-how acquired during the six-month period, to further strengthen its presence and role in the European Union.

‘The chapter of the six-month period may be closing, but another one is opening, in which we will build on the legacy of the Cyprus EU Presidency. We have a stronger voice, a stronger role, and we will use these to the benefit of Cyprus and its citizens,” she concluded.

Minister of Foreign Affairs, Constantinos Kombos, described the Cyprus Presidency as a national mission that was successfully completed, noting that its positive assessment does not come from the Cypriot side, but from the European partners and the EU institutions.

Kombos noted that the Cyprus Presidency was called upon to manage, in addition to its obligations, a series of serious international developments, and referred to Venezuela, Greenland and Iran.

In different circumstances, he said, these crises could negatively affect the course of a Presidency, however, in the case of Cyprus ‘I believe that this did not happen. Quite the opposite.’

The Foreign Minister said that the greatest proof of the success of the Cyprus Presidency is that, when recently he was asked in an interview what Cyprus did not achieve during its term, the only answer he could give was that ‘if we had a few more days, we would have closed one or two more issues that have now matured’, describing this as the best confirmation of the effectiveness of the Cypriot effort.

The President of the House of Representatives of Cyprus, Annita Demetriou, and the Greek Prime Minister, Kyriakos Mitsotakis, discussed on Tuesday, developments on the Cyprus issue and European matters, during a meeting held in Athens, with Demetriou highlighting the importance of Greece and Cyprus moving forward in close coordination to address the region’s complex challenges.

Mitsotakis congratulated Demetriou for her reelection. He also congratulated the Republic of Cyprus on what he described as its highly successful Presidency of the Council of the European Union. He added that at the most recent European Council it was clear that a tremendous effort had been made to conclude highly complex dossiers, and that there was unanimous recognition of Cyprus’ work.

The Greek Prime Minister said that Demetriou’s visit comes at a critical juncture, as there is once again meaningful momentum on the Cyprus issue. He stressed that it is the duty of both countries to remain fully coordinated.

For her part, Demetriou noted that parliaments have a vital role to play, both through parliamentary diplomacy and through stronger cooperation between parliamentary committees, particularly on issues affecting the interests of both countries, such as defence, security, and the European dimension.

“Greece has been, is, and will remain our strongest fraternal ally, one we greatly need,” Demetriou said. She also noted that the House of Representatives will pursue its own priorities, always in cooperation with the Hellenic Parliament.

Regarding possible developments on the Cyprus issue, Demetriou said that current efforts are focused on maintaining momentum in the Cyprus talks, as well as addressing the issues and challenges that Europe is called upon to manage.

“We hope that this momentum will lead to genuine progress on the Cyprus issue. This is precisely where we want to discuss the European Union-Turkey dimension, as well as the other challenges unfolding in the region,” she concluded.

Later, speaking to reporters, Demetriou described the meeting as “very important.”

“Today is also a symbolic day. It is the last day of the Cypriot Presidency. I believe this undertaking has been a success,” she said. She also highlighted the importance of parliamentary diplomacy, noting that strengthening ties between the parliaments of Greece and Cyprus could further reinforce the strategic cooperation between the two countries.

Asked about developments regarding EU-Turkey relations and the Cyprus issue, she said that she and the Greek Prime Minister had exchanged views and shared a common understanding of the diplomatic initiatives that need to be undertaken.

“We are fully aligned regarding the political and diplomatic steps that must be taken,” she said, adding that Greece and Cyprus take into account the interconnection between Greek-Turkish relations and EU-Turkey relations, particularly in preparation for the convening of a new informal five-party meeting on the Cyprus issue.

Demetriou concluded by stressing that the objective remains achieving meaningful progress, underlining the need for coordinated efforts by Athens and Nicosia to move the process forward.

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.

We insist on linking studies with the labour market, aiming, among other things, at the immediate professional placement of our graduates, and a rate exceeding 82% of graduates are employed immediately in professions related to their studies, President Nikos Christodoulides said on Monday evening addressing the graduation ceremony of the School of Business Administration of the University of Nicosia.

The President announced that from next year the Government will also honour students graduating from private universities, adding that his administration is at an advanced stage of creating an organization composed of the Government and the state together with all universities in Cyprus, modeled on the British Council, “so that we can attract even more high-quality foreign students”.

He referred to the recent inauguration of the University of Nicosia’s facilities in Athens, saying this development demonstrates the drive of our country’s higher education and the university’s outward orientation, which brings multi-layered benefits to the country, education and the economy, always with a strong social impact.

Addressing the students, the President said that digital transition, artificial intelligence, green growth and the need for sustainable business models are shaping a new reality, and in this new era societies need people with scientific training, vision but also ethics, and social sensitivity.

“Dear graduates, looking you in the eye, I tell you that Cyprus needs you, depends on you and we approach you as partners and companions in the great effort we are making to change our country. This country has enormous prospects with you as protagonists”, he said.

He added that Cyprus needs young scientists who believe in the potential of our country and invest in knowledge and innovation, people who understand that true success is not measured only by economic indicators but also by social contribution, respect for fellow human beings and the creation of opportunities for future generations.

The practical application of Artificial Intelligence (AI) in the real economy, accelerating its adoption by businesses, and positioning Cyprus as an agile environment for the development and deployment of AI solutions were at the centre of the Digital Cyprus Conference, held on Tuesday in Nicosia.

Deputy Minister of Research, Innovation and Digital Policy, Nicodemos Damianou, said that the discussion around Artificial Intelligence has now moved beyond the boundaries of technology and has evolved into an economic, industrial and geopolitical issue.

As he noted, global developments demonstrate that governments, businesses and societies are now called upon to decide how Artificial Intelligence should be governed and deployed, stressing that the real challenge is not the development of new models, but their application to solve real-world problems.

Damianou said that the European Union has already shifted its focus from regulating Artificial Intelligence to developing the infrastructure, skills and investment needed to enable its widespread adoption, with particular emphasis on small and medium-sized enterprises.

He noted that Cyprus performs above the European average in the overall digital transformation of businesses. However, it still lags significantly behind in AI adoption, with only 9.3% of businesses currently using AI technologies, compared with approximately 20% across the European Union.

The Deputy Minister announced that the new National Artificial Intelligence Strategy will be launched for public consultation within the coming weeks. Its key objectives include leveraging AI in high value-added sectors, improving the efficiency of the public sector, and developing a strong national innovation ecosystem around trustworthy AI solutions.

For his part, George Malekkos, President of the Cyprus Information Technology Enterprises Association (CITEA), argued that Artificial Intelligence is no longer a technology of the future but rather the new driver of business competitiveness.

As he stated, “speed is the new capital,” noting that AI now connects knowledge with execution, while businesses that continue to rely on traditional processes risk losing their competitive edge.

Malekkos added that Artificial Intelligence tools are already being used in software development, customer service, sales, accounting and legal services, expressing the view that in the coming years organisations will employ AI agents alongside human teams across every business department.

The findings of a new survey on AI adoption among Cypriot businesses were presented by Christina Kokkalou, Managing Director of IMR/University of Nicosia.

According to the survey, 89% of businesses in Cyprus currently use Artificial Intelligence tools, while 98% believe that their use contributes substantially to the operation of their organisations.

The survey also found that 91% consider AI adoption critical to their future competitiveness, while 87% say they possess at least a basic understanding of the technology.

However, organisational readiness remains considerably lower. Only 16% of businesses have an official AI roadmap, 20% use performance indicators to monitor AI implementation, and just 31% have appointed a person responsible for AI-related matters.

The most significant benefits identified include timesavings (90%), increased productivity (82%), content and presentation creation (84%), data analysis (74%), automation of routine tasks (57%), and applications in marketing and communications (54%).

Presenting Dell Technologies’ international experience, Ihab El Ghazzawi said that Artificial Intelligence is being adopted faster than any previous technological transformation.

He noted that the rapid expansion of ChatGPT and generative AI applications has no historical precedent, while global investment in AI continues to grow at an exceptional pace.

He further stated that sectors such as financial services, shipping, tourism, the public sector and healthcare are among those that can make significant use of Artificial Intelligence capabilities in Cyprus.