Breaking news

ECB Flags Persistent Data Reporting Issues In Cyprus

by THEFUTURE.TEAM

June 2, 2026

Data Inconsistencies And Reporting Shortfalls

Despite progress in recent years, Cyprus continues to face challenges in meeting euro area statistical reporting standards, according to the European Central Bank’s latest review. The report highlighted inconsistencies between monthly and quarterly data, delayed submissions and reporting gaps that continue to affect the quality of euro area aggregates.

Delayed Submissions And Structural Gaps

The ECB found significant discrepancies between Cyprus’ monthly and quarterly balance of payments and international investment position data. Among the issues identified was the practice of recording all foreign direct investment financial transactions in the final month of each quarter, a method the ECB said distorts monthly statistics. The review also noted delayed submissions by the Central Bank of Cyprus and gaps in the reporting of financial derivatives in the government sector.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Understated Income And Incomplete Coverage

According to the report, Cyprus has underestimated the income earned by shareholders in euro area investment funds. The ECB also highlighted limitations in the reporting of intercompany debt securities and special purpose entities. While methodological changes introduced in 2021 improved the geographical allocation of counterparties, they also created a break in the statistical series.

Regional Implications and Strategic Reforms

The ECB acknowledged improvements in portfolio investment reporting and the use of digital tools to monitor cross-border financial flows. However, it said Cyprus and Malta continue to face persistent data quality challenges. Accurate and timely reporting remains essential for economic analysis and policymaking across the euro area.

Global Context And Forward Strategy

As international statistical standards evolve, the European System of Central Banks is working to harmonise reporting practices across the euro area by the end of the decade. The ECB said further improvements will be needed for Cyprus to fully align its reporting framework with euro area requirements and strengthen the reliability of regional economic data.

The Future Forbes Realty Global Properties

Cyprus Promotes Ship Registry In Asia As Fleet Grows To 25-Year High

by THEFUTURE.TEAM

October 19, 2026

Cyprus is stepping up efforts to attract international shipowners, with Shipping Deputy Minister Marina Hadjimanolis holding high-level meetings in China and Japan as the country’s ship register reaches its strongest level in 25 years.

Running from October 14 to 29, the Asian mission focuses on expanding commercial ties, promoting the advantages of the Cyprus flag and strengthening cooperation with shipowners, shipbuilders and maritime authorities.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

China Meetings Target Shipowners And Industry Leaders

In Shanghai, Hadjimanolis met Wang Qian, vice-director of the Shanghai Pudong New Area Commission of Commerce and Shipping Service Office, ahead of the North Bund International Shipping Forum on October 20–21. Organisers expect around 4,000 participants from more than 50 countries and regions, with discussions covering international shipping, maritime safety, financing, insurance, digitalisation and the transition to cleaner fuels.

The minister also met representatives of Dalian Trawind Shipping and Fortuna Shipbrokers Inc. to present the Cyprus registry’s advantages and explore registration opportunities for vessel owners. On October 20, she is scheduled to speak at the 10th Annual Capital Link International Shipping Forum in Pudong, joining a ministerial roundtable on international maritime leadership.

A visit to Zhoushan is also planned for the naming ceremony of Kypros Island, a new vessel for the Cyprus register owned by Safe Bulkers. Launched in June at the Tsuneishi shipyard on Xiushan Island, the 81,200-deadweight-tonne methanol dual-fuel bulk carrier is scheduled for delivery at the end of October. According to the Zhejiang Maritime Safety Administration, sea trials were due to take place between October 11 and 16.

Japan Engagements Strengthen Maritime Ties

Before travelling to China, Hadjimanolis met Japan’s Parliamentary Vice-Minister for Land, Infrastructure, Transport and Tourism, Kenta Aoshima, in Tokyo on October 16. Her programme also included meetings with senior representatives of Shoei Kisen Kaisha, Nihon Shipyard, NYK Line, ITOCHU Corporation and SSY Projects, focusing on cooperation with Japanese shipowners, shipbuilders and shipping operators.

At the 5th Annual Capital Link Japan Maritime Forum, held at the Tokyo American Club, Hadjimanolis discussed maritime leadership, competitiveness, policy and international cooperation with Capital Link founder and president Nicolas Bornozis. Other sessions examined Japan’s shipbuilding strategy, new-vessel financing and the development of ammonia-powered ships.

The Tokyo programme followed a Cyprus Ship Registry reception on October 15 for representatives of Japan’s maritime and business communities. Hadjimanolis outlined the country’s shipping services and regulatory framework, while Polys Hajioannou, chief executive of Safe Bulkers and president of the Cyprus Union of Shipowners, delivered the opening remarks.

Registry Reaches Highest Level In 25 Years

At the reception, Hadjimanolis said the Cyprus Ship Registry had grown by 27% since September 2023, reaching its highest level in a quarter of a century. She attributed the expansion to efforts to improve competitiveness, simplify administrative procedures and provide more responsive services to international shipowners.

Cyprus’s inclusion on the White Lists of the Paris and Tokyo Memoranda of Understanding was another point highlighted by the minister. These lists reflect the safety and inspection performance of ships flying a national flag.

Existing commercial links with Japan include Safe Bulkers’ announcement in May of four Japanese-built dry bulk vessels scheduled for delivery in 2029.

South Korea Next On The Maritime Agenda

Hadjimanolis’ mission will continue in South Korea, where she is expected to attend the 2026 World Maritime Day Parallel Event and Korea Maritime Week alongside International Maritime Organization Secretary-General Arsenio Dominguez and government representatives from several countries.

Her programme will also include discussions on implementing international maritime conventions and bilateral talks aimed at strengthening Cyprus’s shipping ties with South Korea.

The Asian outreach comes as maritime centres compete for shipowners amid geopolitical uncertainty, fleet renewal and pressure to reduce shipping emissions. For Cyprus, the strategy combines promotion of its registry with closer relationships across Asia’s shipbuilding and shipping sectors.