Cyprus: India’s Strategic Gateway to Europe Strengthened With Modi’s Visit

by News Editor

June 16, 2025

In a significant development for international relations, Cyprus is emerging as a pivotal link between India and Europe, with President Nikos Christodoulides emphasizing its role as a ‘gateway’. During a recent visit by India’s Prime Minister, Narendra Modi, this strategic partnership was highlighted as both nations seek to bolster ties in various sectors such as technology, defense, and trade.

Both leaders underscored their commitment to a robust partnership that extends into economic and regional security domains. A joint declaration is on the table to enhance collaboration, aligning Cyprus as a stable ally in the Eastern Mediterranean.

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President Christodoulides expressed gratitude for India’s support regarding the Cyprus issue, while Prime Minister Modi reciprocated by recognizing Cyprus as a ‘reliable partner’ in international arenas.

Interestingly, during the Limassol Business Forum, where business moguls from both countries gathered, discussions about investment opportunities made it evident that Cyprus ranks eighth as a foreign investor in India.

Meanwhile, in celebration of the deepening ties, Modi was awarded the Grand Cross of the Order of Makarios III—an honor symbolizing the enduring friendship and common values shared by both countries. This accolade further sets the stage for future cooperation.

This historical visit by an Indian Prime Minister to Cyprus in over two decades marks a new chapter in bilateral relations, promising enhanced collaboration and mutual growth.

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Bank Of England Holds Rates At 3.75% In Split Vote As Inflation Risks Rise

by THEFUTURE.TEAM

September 17, 2026

The Bank of England kept its benchmark interest rate at 3.75% on Thursday, but the decision was not unanimous. In a 6-3 vote, the Monetary Policy Committee kept rates unchanged, while three members backed a 25-basis-point increase to 4%. Renewed energy price pressures have added to concerns that inflation could remain elevated.

Inflation Pressures Remain

Policymakers said inflation “is likely to rise further over coming quarters,” citing higher and more volatile crude oil and refined energy prices since the conflict began.

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So far, there has been “little evidence” of significant second-round effects, such as broader wage and price increases. Inflation risks, however, are now “tilted to the upside” and have increased since the July Monetary Policy Report.

Energy Prices Add To Inflation Risks

Brent crude has risen 36% since July, reaching $106 a barrel on Sept. 14, while UK wholesale gas prices increased 78% to 207 pence per therm.

Higher energy costs can feed into transport, production and household expenses, raising costs across supply chains. Refinery pressures have also pushed crack spreads, the difference between refined fuel and crude prices, well above pre-conflict levels.

Economy Shows Resilience

Despite the inflation risks, UK economic activity has held up slightly better than the Bank expected. A softer labor market and higher borrowing costs are expected to help reduce inflation over time.

Previous monetary tightening is still working through the economy, according to policymakers. So far, the latest energy shock has not produced clear evidence of a broader wage-price spiral.

Major Central Banks Take Different Paths

The decision comes during a busy period for global monetary policy. The Federal Reserve raised rates Wednesday to 3.75%-4% in its first increase since 2023, while the European Central Bank recently lifted its deposit rate to 2.5%.

The Bank of Japan is due to announce its decision Friday, with markets expecting a rate increase. Thursday’s split vote shows that pressure for tighter policy remains within the Bank of England’s Monetary Policy Committee.

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