Further decline in NPL ratio to 5.5% in July, CBC data show

The volume of non-performing loans (NPLs) in the Cypriot banking sector continued to decline at the end of July, according to data released on Thursday by the Central Bank of Cyprus (CBC).

Based on the updated figures for NPLs as of 31 July 2025, the ratio of non-performing loans to total loans fell to 5.5%, down from 5.6% at the end of June and 6.2% at the end of 2024.

The total stock of NPLs decreased slightly to pound 1.44 billion, compared with pound 1.46 billion a month earlier. At the same time, total loans rose marginally to pound 26.0 billion, from pound 25.8 billion in June, contributing to the improvement in the overall NPL ratio.

Loans in arrears of more than 90 days remained broadly stable at pound 1.15 billion, representing 4.4% of total loans.

Banks’ accumulated provisions amounted to pound 982 million, of which pound 895 million relate to non-performing loans. The coverage ratio of NPLs by provisions edged up to 62.2%, compared with 62.0% in June and 59.9% at the end of 2024.

The largest share of NPLs continues to be concentrated among households and small and medium-sized enterprises (SMEs). Specifically, households recorded an NPL ratio of 7.4%, corresponding to pound 794 million out of total loans of pound 10.76 billion. Non-financial corporations showed pound 613 million in NPLs, representing 4.7% of their total loans, while among SMEs the ratio stood higher, at 7.1%.

As regards restructured loans, the total fell to pound 1.21 billion in July from pound 1.23 billion in June. Around pound 640 million of these continue to be classified as non-performing.

Cyprus Department of Meteorology – Forecast for the Sea Area of Cyprus (B)

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (B)

FOR THE PERIOD FROM 1200 16/10/2025 UNTIL 1200 17/10/2025

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1016hPa (hectopascal)

Weak low pressure is affecting the area. The weather will be mainly fine.

Visibility: Good

Sea surface temperature: 26°C

Warnings: NIL

PRESS RELEASE – SHIPPING DEPUTY MINISTRY

The Shipping Deputy Ministry of the Republic of Cyprus and the Ministry of Transport of the Arab Republic of Egypt successfully held the first meeting of the Joint Maritime Committee (JMC) in Limassol, marking a significant step in strengthening maritime cooperation between the two countries, putting into effect the Merchant Shipping Agreement signed between the two countries in 2006.

This newly established Committee serves as a permanent platform for dialogue, coordination, and cooperation on all maritime matters of mutual interest, enabling Cyprus and Egypt to work together in a more concrete and continuous manner, examining joint areas of cooperation across the maritime sector and promoting the long-term development of their bilateral relationship.

The inaugural session of the Committee was co-chaired by Dr. Stelios D. Himonas, Permanent Secretary of the Shipping Deputy Ministry of Cyprus and Rear Admiral Nihad Shaheen, Deputy Minister for Maritime and Logistics Affairs of Egypt. High-level representatives from both sides participated, including officials from the Ministry of Transport, Communications and Works and the Cyprus Ports Authority, ensuring the active involvement of all key maritime stakeholders.

The discussions focused on enhancing cooperation under the 2006 Merchant Shipping Agreement, including specific agenda items such as collaboration within the framework of the Mediterranean Memorandum of Understanding (MED MoU), mutual cooperation and support within the framework of the International Maritime Organization (IMO), cooperation in seafarer training and maritime education, including partnerships between educational institutions in both countries and mechanisms for implementing joint training programs. In addition, they addressed issues related to cooperation and development between Cypriot and Egyptian ports.

Both co-chairs reaffirmed their countries’ commitment to work together through this Committee to transform dialogue into practical cooperation and to build a long-term partnership, turning their shared vision into tangible achievements for the benefit of both our maritime sectors. The next session of the Committee was scheduled to take place within the next year in Egypt, with the objective of monitoring the areas of cooperation that have been identified during the 1st session.

On 16 October 2025, the Egyptian delegation visited the Port of Limassol, hosted by the Cyprus Ports Authority. The field visit included presentations on port operations, infrastructure projects, digitalization initiatives, and green transition strategies. The delegation toured the port facilities and discussed opportunities for future collaboration in this field.

CRICKET-CWI-West Indies U19S to host England in crucial World Cup prep series

In a pivotal step towards the ICC Men’s Under-19 World Cup, Cricket West Indies (CWI) has announced a seven-match Youth ODI series against England U19S, set for Grenada this November.

The high-stakes contest, running from November 16 to December 1 at the Grenada National Stadium, will serve as a critical testing ground for the young Windies squad.

The series was relocated from its originally intended venue in St. Vincent after the National Sports Council there confirmed the grounds were unavailable due to international scheduling.

This tour comes on the heels of the West Indies’ hard-fought 4-3 series victory over Sri Lanka U19S in Antigua, providing the team with valuable momentum.

CWI Director of Cricket Miles Bascombe emphasised the strategic importance of the upcoming fixtures. ‘This series against England forms an important part of our strategic plan to refine the squad through consistent, high-quality competition,’ Bascombe stated.

‘The group has already gained valuable experience and confidence from the recent win against Sri Lanka, and this next assignment provides another crucial opportunity for growth,’ he added. ‘We expect another highly competitive contest in Grenada. These matches are vital in ensuring our players continue to develop their skills, temperament, and match awareness.’

Both teams will arrive in Grenada on November 8 for an intensive preparation period. They will have three days of training at the stadium before England faces a Grenadian Under-25 select XI in a warm-up match on November 12.

The full series schedule is as follows (all matches at Grenada National Stadium):

1st Youth ODI: Sunday, November 16

2nd Youth ODI: Wednesday, November 19

3rd Youth ODI: Friday, November 21

4th Youth ODI: Monday, November 24

5th Youth ODI: Wednesday, November 26

6th Youth ODI: Saturday, November 29

7th Youth ODI: Monday, December 1

’What our Right Honourable Prime Minister has done should be questioned at the International Criminal Court’.

The secretary of the non-governmental organization, Fishermen and Friends of the Sea, Gary Aboud, Thursday confirmed that two Trinidad and Tobago nationals were among the six people killed following a United States military airstrike on a small vessel off the coast of Venezuela earlier this week.

‘We would like to offer our condolences to the families, friends, children, wives of the deceased. Very, very sorry that they were murdered like this. I am very very sorry,’ Aboud said on a radio broadcast on Thursday with regards to the killings of Richie Samaroo and Chad ‘Charpo’ Joseph.

Aboud said as a result of the killings, local fisherfolk are now afraid of going out to sea.

‘People are terrified at the risk of being killed at sea. Personally I am very upset with our national position of bringing American warships and allowing them to by pass the judicial process.

‘We have law and order. We are a civilised nation. Yet we have adopted and given blessing to warmongering murderers to come into our territory and kill people outside of the judicial process.

BRITISH VIRGIN ISLANDS-FINANCE – BVI Finance pushes crypto, digital assets in Singapore

The British Virgin Islands (BVI), is continuing to position itself as a key player in the world of crypto and digital finance.

The push was made as BVI Finance recently showcased the territory’s digital finance offerings at TOKEN2049 Singapore, one of Asia’s premier Web3 and blockchain gatherings, held earlier this month.

The participation formed part of the BVI’s ongoing campaign to promote the jurisdiction as a trusted hub for digital innovation, fintech regulation, and global financial services.

BVI Finance said its participation in TOKEN2049 highlighted the territory’s capacity to meet the needs of fintech companies seeking clarity, stability, and access to international markets. These efforts align with the findings of the group’s global report, Destination Digital, which found that 94 percent of fintech leaders view cross-border expansion as key to their growth, with many looking to international finance centres like the BVI for their balanced regulatory approach.

BVI Finance said events like TOKEN2049 strengthen the territory’s standing as a forward-thinking, stable jurisdiction committed to maintaining world-class regulatory standards while embracing digital transformation.

The participation in Singapore adds to a series of global outreach efforts this year as the BVI seeks to modernise its financial services offerings and protect its reputation amid ongoing international reforms targeting tax transparency and beneficial ownership.

UNITED STATES-RIGHTS -Rights groups demand legal memo on Caribbean boat strikes

The American Civil Liberties Union (ACLU) ihas joined the Center for Constitutional Rights in filing a Freedom of Information Act (FOIA) request seeking the Office of Legal Counsel’s (OLC) guidance and other related documents regarding lethal strikes on alleged drug smugglers in the Caribbean.

The ACLU noted that, in testifying last week before the US Senate Judiciary Committee, US Attorney General Pam Bondi refused to confirm the existence (or nonexistence) of such guidance.

But the ACLU said on the same day, in a different hearing, Charles Young, who is nominated to serve as the US Army’s general counsel, acknowledged the existence of this opinion in an exchange with Senator Jeanne Shaheen, explaining that the ‘opinion was derived through an interagency lawyers working group’ including representatives from the White House and several executive branch agencies.

The ACLUC said public reporting also indicates that the OLC has issued an opinion, and that it asserts ‘sweeping, unprecedented claims of presidential authority to use military force against people alleged to be affiliated with drug cartels.’

Jeffrey Stein, staff attorney with the ACLU’s National Security Project, said: ‘All available evidence suggests that President Trump’s lethal strikes in the Caribbean constitute murder, pure and simple.

‘The public deserves to know how our government is justifying these attacks as lawful, and, given the stakes, immediate public scrutiny of its apparently radical theories is imperative,’ he added.

The ACLU said that, since early September, President Donald Trump has ordered five strikes on private boats traveling in the Caribbean Sea, reportedly killing at least 27 people.

In attempting to defend the legality of the strikes, the ACLU noted that the Trump administration has stated that drug cartels designated as terrorist organizations are ‘non-state armed groups’ whose ‘actions constitute an armed attack against the United States.’

‘But the United States is not in an armed conflict with drug cartels, and the people the government’s strikes have killed are civilians under international law,’ the ACLUC said. ‘For this reason, members of Congress from across the political spectrum, former government officials from both Republican and Democratic administrations, legal experts, civil society groups, and international bodies say the attacks appear to violate both international and domestic law.’

Baher Azmy, legal director of the Center for Constitutional Rights, said ‘in a constitutional system, no president can arbitrarily choose to assassinate individuals from the sky based on his whim or say-so.

‘The Trump administration is taking its indiscriminate pattern of lawlessness to a lethal level,’ he said. ‘The public understanding of any rationale supporting such unprecedented and shocking conduct is essential for transparency and accountability.’

In responding to the October 14 announcement of an airstrike killing six people in the Caribbean, Amnesty International USA’s Director for Security and Human Rights, Daphne Eviatar, described the airstrike as ‘murder-plain and simple.

‘There is no plausible legal justification for the Trump administration to use the US military to kill whoever it unilaterally deems a ‘terrorist”, she said. ‘This was the fifth US strike in the Caribbean since early September, bringing the body count-by the administration’s own admission-to 27.

‘These airstrikes outrageously flout international law and set a dangerous precedent for other leaders around the world,’ Eviatar added. ‘Congress must do everything in its power to stop these murders and hold those responsible accountable.’

She noted that, on September 3, the US claimed it bombed a boat allegedly departing from Venezuela, killing 11 people.

On September 15, Eviatar said Trump claimed responsibility for another lethal strike on a boat in the Caribbean, reportedly killing three people.

Days later, she noted that Trump announced a third strike killing three more people.

On October 2, Eviatar said US media reported that President Trump had declared drug cartels as ‘unlawful combatants’ and that the US is in a ‘non-international armed conflict’ with them.

‘Such pronouncements reveal an incorrect understanding and application of international law, and do not change the fact that these airstrikes are clearly illegal under international human rights law,’ Eviatar said.

The next day, she noted that US Defense Secretary Pete Hegseth announced a fourth strike that he said killed four people near Venezuela.

CANANEWS AND SPORTS SCHEDULE AT 1200 ECT

The following is the CANANews and SPORTS Schedule for Thursday, October 16, 2025

BRIDGETOWN – Barbados has been named the Caribbean’s leading wedding destination for the second consecutive year, cementing its position as the region’s premier spot to tie the knot.

KINGSTON – The two leading newspapers in the island , Jamaica Observer Limited (JOL) and Gleaner Company Media Limited (GCML) on Wednesday announced that they have agreed to enter a formal joint venture (JV) by the close of the calendar year.

GEORGETOWN – President Dr Mohamed Irfaan Ali has reaffirmed Guyana’s unwavering commitment to maintaining Latin America and the Caribbean as a zone of peace, while making clear that the country will also stand firm against transnational crime, the illicit drug trade, and any form of destabilisation that threatens regional stability.

NEW YORK – The American Civil Liberties Union (ACLU) ihas joined the Center for Constitutional Rights in filing a Freedom of Information Act (FOIA) request seeking the Office of Legal Counsel’s (OLC) guidance and other related documents regarding lethal strikes on alleged drug smugglers in the Caribbean.

SPORTS

NEW DELHI – While the scoreline reads a dominant 2-0 series victory for India, the story of the recently concluded Test series against the West Indies was one of resolute spirit and a powerful tribute from an unlikely source, the home side’s coach, Gautam Gambhir.

BARBADOS-TOURISM – Barbados named the Caribbean’s leading wedding destination

Barbados has been named the Caribbean’s leading wedding destination for the second consecutive year, cementing its position as the region’s premier spot to tie the knot.

The accolade was confirmed at the World Travel Awards (WTA) Caribbean and North American Gala Ceremony held earlier this month at Sandals Grande in Saint Lucia.

In a release the Barbados Tourism Marketing Inc. (BTMI), hailed the win as a reflection of the island’s ongoing dedication to fostering a world-class wedding industry.

Chief Operations Officer at BTMI, Cheryl Carter said in the statement: ‘Barbados is deeply honoured to receive this prestigious recognition as the Caribbean’s Leading Wedding Destination. This award is a testament to the pride our nation feels when welcoming couples to begin their lives together.

‘The dedication, flair, creativity, and expertise of our many wedding planners ensure that every wedding, regardless of the size or style, is truly a memorable occasion. Over the years, Barbados has staged weddings of every description from intimate to extravagant, drawing on our rich culture, stunning venues, and world-class hospitality. With this accolade, we reaffirm our commitment to excellence in delivering exceptional destination weddings.’

Director of BTMI’s Caribbean department, Graham Clarke welcomed the continued recognition of Barbados in the face of tough competition from neighbouring destinations.

‘I am happy that the title remains in Barbados this year, as we were able to eclipse some of our neighbours who were also competing for the honour,’ Clarke said in the release. He further credited local industry stakeholders for their role in securing the award.

‘This honour reflects not only our island’s unique appeal but also the dedication of our exceptional tourism stakeholders, whose hard work makes every celebration extraordinary,’ he added.

WTA founder Graham Cooke described the ceremony as an opportunity to recognise the region’s highest achievers.

‘Our winners are stellar examples of tourism excellence, and I congratulate each and every one for helping to raise the collective benchmark across the region,’ Cooke said.

Established in 1993, the World Travel Awards are regarded as the benchmark for industry excellence, celebrating outstanding achievements in travel, tourism, and hospitality worldwide.