Current Events

Beirut-based Union of Arab Banks and the Association of Cyprus Banks have signed an MoU to fortify their history of cooperation and encourage further activity that will help both organizations to progress and advance.

According to an announcement by the Association of Cyprus Banks, the Memorandum of Understanding was signed in August in Nicosia by the organization’s Chairman of the Board of Directors, Aristidis Vourakis, as well as the Union of Arab Banks’ Secretary General Dr. Wissam Fattouh.

The announcement says that this signing is a highly essential step to ensure that the two organizations understand, cooperate and shape banking to benefit them and everyone they serve – especially in light of the ever-changing geopolitical landscape.

It always says that the MoU serves to present a highly positive precedent of collaboration and cooperation between two institutions that are from varied geopolitical, economic, and geographical situations.

One of the main outcomes of this MoU is to establish the Arab Cypriot Banking and Economic Dialogue. This is meant to function as a strong platform to help fortify cooperation and encourage better flow of knowledge and information between the organizations.

According to the Cyprus Federation of Student Unions (Pofen), single rooms are now priced at approximately €350 per month – which is the highest the nation has ever seen.

Right now, the University of Tepak in Paphos and Limassol offer 150 and 250 rooms respectively, the University of Cyprus in Nicosia offer 208 rooms, while the archbishopric in Limassol offer 250.

Dorm rooms are typically meant to accommodate first-year students and their needs.

According to Constantinos Karseras, the chairman of Pofen, the demand has far exceeded the supply in Limassol, which has spurred universities to build new dorms in both Nicosia and Limassol to bridge the gap.

The level of progress is better at Tepak, which has announced 300 student rooms to be ready by late-2026.

What concerns Karseras the most, however, is that the dorm plans are based on data from 2020, while Tepak has introduced several new programs and subsequently accepted many more students.

Currently, a “subsidized” single Tepak dorm also costs €350 a month. What sets them apart is that they have offered a €2,500 subsidy to cover 10 months – subject to the student’s socioeconomic status.

The bishopric in Limassol has offered a free meal per day, while both Tepak and the University of Cyprus have offered yearly scholarships to certain students.

The website of Tepak says that among the 250 available rooms, studio flats cost €300 a month, single-bedroom flats cost €350, twin-bedroom ones cost €500, while three-bedroom ones cost €600.

Tepak in Paphos has arranged over a hundred-and-fifty studio apartments for €350 per month, and another fifty available at the standard €550 per month price.

A Facebook page is currently trying to create a chart of all apartments available so students can match up with suitable roommates. In over two years of operation, it has helped over five hundred students – many senior students have managed to secure all-year accommodations for as less as €400 – in the face of dorm rooms being given to first-year students on a priority basis.

Renowned Nobel Laureate from Turkey Aziz Sancar is now officially a citizen of Turkish Cyprus.

Sancar, who is well known in the breakaway island nation for his work in their academic circles – and for his love for the area – has been visiting the place for years on-and-off, where he has served many positions – from serving on the Near East University’s Synthetic Biology Research and Technology Center’ science board to lecturing in academic institutions. He is also known for actively advocating Turkish Cyprus to be recognized internationally.

Sancar has been awarded the honor of becoming a Turkish Cyprus citizen on the basis of his current and future contributions to the fields of culture, technology and of course science – along with advocacy for the yet-to-be-recognized nation.

Sancar notably supported Turkish President Erdoğan’s call for globally acknowledging the nation of Turkish Cyprus at the UN General Assembly. He did show by wearing a shirt which said “TRNC Should Be Recognized” which was posted by him on social media as well as extensively photographed.

He enjoys a deep friendship with Ersin Tatar, the President of Turkish Cyprus, and academician-turned-health-advisor Nedime Serakıncı.

Sancar was awarded the Nobel Prize for Chemistry in 2015, along with his Swedish and American colleagues.

News of India reportedly supplying its BrahMos missiles to Cyprus has been doing the rounds – and it has put Turkey in a state of unease.

While neither India nor Cyprus have said anything on the matter, the spread of the news via other channels has led to debates within the larger Mediterranean area.

BrahMos is a high-end missile designed by a Russia-India scientist tag team- they are hypersonic and highly-precise missiles that can hit targets on sea and land.

Having such a missile in their arsenal would greatly empower the island nation’s capacity to deter current and potential threats.

India has been exporting the BrahMos missile for some time now – the Philippines is one of their dedicated customers.

Turkey, however, is alarmed by the alleged development, citing it as a move that will change the balance of power in the Eastern Mediterranean region by giving Cyprus a major and immediate advantage from a strategic standpoint.

Cyprus and India strengthening their relations also have the potential to sour their relations with other neighboring countries – such as Turkey itself.

A huge wildfire that took place in the south of Cyprus led to the death of two people, and emergency evacuations of thousands of people.

The fire in question destroyed more than 38 sq mi (or 100 sq. km) of land in a place located north of Limassol, famous for wine production.

The fire started in the middle of the day and continued for days, razing over a dozen different villages to the ground and causing great grief and loss.

The fire department found 2 people dead in a burned down car -presumably trapped in the fires. Ten others have sustained injuries – and two of these are in critical condition.

The fire was further exaggerated by the hot weather – the temperature went up to 109.4 degrees Fahrenheit and later 111.2-degree Fahrenheit – the hottest in 2025 so far. Coupled with unruly and forceful winds, the effect was the derailment of several containment initiatives.

Cyprus’ Interior Ministry ordered evacuations in a mountain region spanning fourteen kilometers. Evacuation efforts also included moving camp-going children near the village of Lofou to a safe space.

Several videos of the fire are circulating on social media, showing the stark destruction of vegetation, trees, and of course houses, along with a heavy permeation of dense smoke.

Over 250 firefighters have worked to curb the firefighters. The efforts also include thirteen air planes – which include those sent from Spain, Jordan and the RAF Cyprus-based Chinook.

Authorities are investigating the exact reason why the fire happened in the first place.

The authorities in Cyprus have conducted an emergency medical evacuation by transporting a gravely ill ship crew worker by air.

According to a statement by the Joint Rescue Coordination Centre (JRCC), the operation started at 9:20 PM in the evening as a part of the National Search and Rescue Plan (NEARCHOS) after receiving a distress signal.

The relevant authorities then went to evacuate said patient from the ship he was on in the Nicosia FIR region of Cyprus’s search and rescue responsibility area.

The evacuation involved a police helicopter, which was used for transporting the patient as well as the medical crew and ambulance nurse.

Authorities have confirmed that the patient reached the hospital on the island safely and was treated for his condition.

Boris Demash, the owner and founder of Cyprus Daily News (CDN) and its associated platforms was recently arrested by the police.

The arrest warrant was issued as part of the ongoing investigation regarding a defamation case, which involved a disinformation campaign launched against businessman Alexey Gubarev.

Courts issued the arrest warrant after they found that Demash in fact was not in compliance with the prohibitory injunction terms and had not made his scheduled court appearance to give his response to the application of contempt.

The above-mentioned developments happened after Gubarev fought back against the claims made against him

Cyprus Daily News, a self-professed online publication highlighting social and political issues in Cyprus, does not have any official registration with Cyprus’ Press and Information Office.

Cyprus has officially launched its European Union Blue Card scheme for non-European and non-EU nationals who are seeking employment and residence in Cyprus.

The Blue Card is a highly coveted document sought by non-EU professionals who have in-demand skills and are looking to live and work in the region.

The Deputy Ministry of Immigration and International Protection made the announcement – thus marking the first ever occasion where Cyprus is extending support to talent outside of the EU region.

Getting the Blue Card will allow skilled non-EEA and/or non-EU workers to reside and work in the island nations with many of their rights at par to that of the country’s citizens. It allows card holders to move in all EU countries bar Ireland and Denmark (since they are not part of this scheme).

Right now, Cyprus is issuing Blue Cards for those working in shipping (bar crew and captains), pharma research, and information and communication technology (ICT). Applicants need to have a minimum annual salary of over €44,000, and fulfill the professional and/or academic requirements.

Aside from having the right to work and reside in Cyprus, the Blue Card will provide its holders the right to claim equal status in work situations, education and learning and social security. It will also allow them to have their family members, provided they have suitable permits for residence.

If card holders have spent other years in EU countries (covered in the scheme), they will be able to combine them to qualify for further residency. They can also freely travel within the EU region (bar Ireland and Denmark) so long as they have the card.

The ExxonMobil-and-QatarEnergy-led consortium has discovered yet another deposit of natural gas.

This will mark their second discovery since their first one on Block Ten in 2019.

It was also made in Block 10, but this time it was in the “Pegasus-1” area of the larger Exclusive Economic Zone (EEZ) of Cyprus.

Specifically, the site is situated around 190 south-west from Cyprus, and contains over 350m of gas-led reservoir.

A statement from the government of Cyprus revealed that the drilling was done by the drillship Valaris DS-9 in over 1,921m of water.

The specific composition of the shall be revealed once the samples have been fully analyzed.

According to several experts in this area, this discovery will help boost energy supply in Europe, which will be especially helpful as it is decreasing its dependence on Russia.

As mentioned earlier, this is the second discovery made in the area by the consortium – the first was made in 2019 at Block 10’s Glaucus-1 – situated over 180km southwest of the port of Limassol.

The discovery revealed over 133m of gas reserves. A successful drilling operation was conducted, which reached over 4,200m in depth and was done in waters over 2,000m deep.

The ExxonMobil-and-QatarEnergy-led consortium currently has the rights to operation within 2 blocks of Cyprus’ EEZ.

The Cyprus Police is actively looking for cars and other vehicles experiencing overheating – something that has been common lately thanks to the elevated temperatures.

In the latest incident, the Police responded to a call made at the Limassol-Nicosia highway, where a mini-bus caught fire for this very reason.

Local news sources said the mini-bus’s passengers where National Guard soldiers being transported to their respective units.

The mini-bus was totally destroyed.

Specifically, the incident happened near Parekklisia. The silver lining was that the soldiers managed to escape with zero injuries. Although, traffic was disrupted due to either capital-bound lane being shut down for multiple hours until the bus was taken away and the scene was thoroughly investigated.

All operations have since resumed to normal.

Cypriot hypermarket giant Alphamega is all set to acquire online quick commerce service Foody Market.

While Alphamega has completed the paperwork, including signing the agreements – the actual transaction process remains subject to the approval of the Commission for the Protection of Competition (CPC).

Acquiring Foody Market does not give Alphamega access to other dimensions of Foody’s scope of operations.

When the actual transaction is complete, Foody Market shall be fully integrated within the larger retail network of Alphamega. It will migrate to operating within the larger ‘Alphamega Express’ – allowing the larger company to expand its presence in the island nation’s burgeoning online shopping scenario.

Specifically, the Foody Market stores set to join the network are the ones in Limassol and Nicosia. They will be filling out orders from the supermarket via the Foody platform.

This development will allow customers to get their order more seamlessly and get their deliveries quicker – thus creating a much better overall experience.

For Alphamega, this expansion will help them offer more options to their customers, and will help them understand and navigate online store operations better.

People will have the option to either schedule their delivery via the online store on the Alphamega website or order for a quick delivery via the Foody Market online store.

George Theodotou, the CEO of Alphamega has expressed his happiness on the development, mentioning how the expansion is a win-win for everyone involved. He remarked that it will make both businesses stronger by offering more options to today’s consumers and their time-bound lifestyle.

Theodotou further added that the partnership will not end here – and that more plans are on the way. And that it all starts with serving customers who for any reason are unable to physically reach a store.

Meanwhile Srdjan Stankovic, the CEO of Foody called the agreement a major milestone as the company makes a stronger and better partnership with the Cypriot retail giant.

The UN held a five-party meeting regarding the Cyprus reunification issue at their NY headquarters.

The event was originally announced by Stephane Dujarric, a spokesperson for the United Nations Secretary-General at the press conference.

The convening of the Secretary-General happened after the first of such meetings in 2025 in the month of March. Here, the leaders of both Turkish and Greek Cyprus, along with leaders of other major powers in the area such as Turkey, Greece and the UK met yet again to discuss the issue of the divided island nation at length.

While the talks were not the most encouraging, those who attended the meeting agreed that it was a good opportunity to keep the communication channel open and hold out on the possibility for things to improve in the future.

The island nation of Cyprus has been a divided one since 1974, sparked off by Turkey invading Cyprus and then staging a coup with the Greek military regime at that time. As of July 2025, Turkey is the sole nation to recognize Turkish Cyprus as an independent nation, and keeps over 35,000 soldiers on standby there.

The Cyprus-based investment firm Exclusive Change Capital has reached a settlement with Forty Thousand Euros with the Cyprus Securities and Exchange Commission (CySEC).

The reached settlement is about the potential violation of 2017’s Investment Services and Activities and Regulated Markets Law – in the way it has been amended.

In specific terms, an investigation was made in the time period of January to August 2021 about the company’s situation regarding compliance of Investment Services and Activities and Regulated Markets Law’s Article 22(1) and the conditions of authorization under article 17(5)(b) – also of the same law.

As an investment firm based out of Cyprus, Exclusive Change Capital is obligated to adhering to these organizational rules – which it did not.

Exclusive Change Capital has paid the settlement amount. CySEC has acknowledged the same and noted that the amount paid shall be considered income of the Cypriot Treasury and not of the CySEC itself.

Cyprus’ AKEL party has expressed its objection over the rising number of properties being purchased by Israeli nationals.

Stefanos Stefanou, the leader of the party, spoke about the matter at a congress meeting, explaining how this “looks a lot like” the “tactics” used in the former Palestinian areas, and if left unchecked might cause demographic issues.

He further added that such issues may include a rise of synagogues and “Zionist” educational institutions, along with a broader presence of foreign culture. He then resorted to saying he was worried that the country “is going to be taken away,” eventually.

Stefanou even accused the current ruling government of being negligent and urged them to tighten up their controls on whom they are selling their properties to.

Several locals supported Stefanou’s claims, saying that property sales left unchecked could cause economic problems to the already sensitive island nation and might even undermine its sovereignty down the line.

In contrast, Oren Anolik, the Ambassador of Israel in Nicosia, criticized the claims, calling Stefanou and his supporters as people promoting antisemitism in an otherwise peaceful nation. Stefanou responded to his accusation with a counter argument that that was never his intention and that Israeli politics must never be mixed with antisemitism.

Cyprus has over 2,500 Israeli nationals residing – although many believe the actual count to lie somewhere upwards of twelve to fifteen thousand.

Many areas in Paphos reported shortage of water on account of the damage caused to the main pipeline supplying water to Paphos and its suburbs,

The pipeline, which is situated upwards of Yeroskipou, attracted a team from the Water Development Department to mitigate the situation.

Harris Kasioulis, Paphos Water Development Department’s District Engineer explained to the Cyprus News Agency how the damage affected not just Paphos but also the nearby areas of Akamas, along with Lemba and Chlorakas communities.

He also mentioned that since the damage has occurred on the deeper end, the restoration works will also be complicated and shall take time, despite the mitigation team working on it from the moment it was detected.

The damaged took almost a day and half to be fully repaired, after which water supply was gradually restored.

Charalambos Pittokopitis, the Governor of Paphos District visited the site and explained that the damage was caused to the pipeline being blocked by a soil block.

The pipeline in question is responsible for transporting over thirty-thousand cubic meters of water daily – and supplies more than 2/3rds of the area’s overall consumption.

A father died while attending his own son’s destination wedding in Cyprus’ Paphos district.

The man’s family has set up a page on fundraising platform GoFundMe to raise money to be able to bring his body to the United Kingdom.

His family has described him as a “very loved & missed” man who was a husband, father, grandfather, uncle, & friend.

The GoFundMe page also contained the details of the circumstances, explaining how the man, Named John, unexpectedly passed away. The page also mentioned how he was enjoying time with his family and friends when he passed, and while that is extremely sad, they hold some solace in the fact that he spent his last moments being happy.

Finally, the support of all near and dear were sought for the family to be able to afford the unexpected high cost of taking John’s body back to England for his funeral.

This was followed by several pictures and John and his family, and of the family preparing to leave for the wedding.

Several users proceeded to share the GoFundMe page on popular social media platform Facebook.

So far, over 3,000 GBP out of the target 10,000 GBP has been raised.

Several people have commented and expressed their grief – both on the fundraising page and on social media.

Cypriot authorities have launched a national campaign on the occasion of World Hypertension Day to help people gain better awareness of the disease.

The Cyprus Society of Internal Medicine & the Cyprus Society of Cardiology, in collaboration with pharma company Medochemie and backed by the Cyprus Medical Association launched the initiative to show people how deadly a situation of untreated hypertension can be.

Often called a “silent killer” due to often being both asymptomatic and deadly, the disease affects almost thirty percent of all adults in Cyprus – with over 70% of this number comprising people over the age of sixty.

Yet, many people are not remotely aware of the risk it poses.

The goal of the campaign is to spread better awareness via regular check-ups, education, and changes in lifestyle. After all, simply checking one’s BP regularly can avoid the many deadly complications that can arise from hypertension.

The Cyprus Police has arrested a British national for allegedly committing espionage as well as terrorism-related activity.

The individual was produced before court, where an eight-day-long detention was ordered, pending inquiry.

The police has refused to divulge any further details on grounds of national security.

A British Foreign Office spokesman has confirmed that the arrested individual is indeed a British national. They also confirmed that their office is in touch with Cypriot authorities on this matter.

Many news outlets in Cyprus have reported that the man, who was arrested in Limassol’s Zakaki is of Azerbaijani origin.

This news comes as a surprise to many, even with the current tensions in the middle east – especially given as there are very few terrorism-related offences in the island nation of Cyprus.

Airliners in Cyprus have cancelled several flights in response to the airstrikes in Iran.

Ten flights have been confirmed to be canceled – all of which go from Cyprus’ Larnaca International Airport to Israel.

While airports remain open, several other flights have also been affected due to growing tensions in the Middle East region. According to radar images, most civilian flights in the airspace lying between Israel and Iran at large have been cleared.

Meanwhile airlines running flights between Israel and Cyprus are taking strict precautionary measures in response to the situation. Ben Gurion Airport, however, has suspended all of its upcoming flights.

Finally, the Ministry of Foreign Affairs of Cyprus has issued their travel advisory for Cypriots currently in Israel – asking them to be fully compliant with local rules and regulations. They have asked Cypriots to not travel unless absolutely necessary, keep themselves as secure as possible and stay fully aware of current affairs – especially in light of Israel declaring a state of emergency.

Both Paphos and Larnaca have been put on emergency standby, upon requests to have several Israel-bound airplanes to make emergency landings on the island nation. The airports have successfully executed said request.

For the first time since 2021, Cyprus has entered into deflation.

The Statistical Service of Cyprus has revealed that the island nation’s yearly rate of inflation has gone down to the negatives up to -0.2%, This previously happened in 2021, when the Consumer Price Index (CPI) went on a year-on-year decrease to stand at -0.72% inflation.

While the CPI did slightly increase in May 2025 – going up of 117.57 units instead of April 2025’s 117.31 – the prices were much lower than that of the same time in 2024.

Prices increased the most for services (by 3.5%) and agro products (by 4.7%), where is they decreased for things utilities such as power (by 8.6%) and gas (by 12.8%). The latter especially played a major role in making said deflation happen.

Footwear and clothing saw a decline of 5.3% in prices, whereas transport was a 6.6% decrease. Meanwhile the prices of education, restaurant & recreation increased by 3.7%, 4.9% and 4.0% respectively.

Speaking of month-on-month increase, footwear and clothing increased the most (by 2.4%), whereas transport reduced by -2.4%.

The lowered cost of gas and transport is believed to have contributed to the deflation, despite the pressure exerted by the rising costs of food & beverages and hotels & restaurants.