Breaking news

Cyprus Hosts UN’s New Space Office To Boost Disaster Response In The Eastern Mediterranean

by THEFUTURE.TEAM

February 20, 2025

Cyprus is making a significant leap onto the global stage in disaster management with the launch of a new space-based initiative. A Memorandum of Understanding (MoU) signed between the United Nations Office for Outer Space Affairs (UNOOSA) and the ERATOSTHENES Centre of Excellence paves the way for the creation of a Regional Support Office (RSO) for the UN’s UN-SPIDER program, aimed at harnessing satellite technology to tackle disasters in the Eastern Mediterranean and beyond.

This strategic partnership will strengthen regional and global efforts to use space-based tools for disaster management and risk reduction. The ERATOSTHENES CoE, known for its cutting-edge research in satellite and airborne remote sensing, will host the new RSO, bringing its advanced expertise to the UN-SPIDER network.

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

The new office will focus on offering technical advisory support, capacity-building in space technology, and sharing knowledge from Earth Observation data to mitigate the impact of disasters. The RSO will also play a key role in providing real-time assistance during emergencies, ranging from earthquakes and forest fires to floods and coastal erosion.

Dr. Marios Tzouvaras, Research Coordinator at ERATOSTHENES CoE, highlighted the importance of the initiative, noting that the center’s extensive research in satellite imagery and data analysis will play a crucial role in disaster risk reduction. “Our collaboration with UNOOSA will allow us to apply our long-term scientific knowledge to real-world challenges, not just for Cyprus but for the entire region,” Tzouvaras said.

With the agreement set to begin in February 2025, Cyprus is poised to become a central node in UNOOSA’s mission to bring space-based disaster response solutions to the global community. This partnership marks a crucial step in the evolution of disaster management, leveraging the power of space to save lives and reduce risks across multiple regions.

The Future Forbes Realty Global Properties

Foreign Firms Contribute €3.5 Billion To Cyprus Economy In 2023

by THEFUTURE.TEAM

November 12, 2025

Recent Eurostat data reveals that Cyprus remains an outlier within the European Union, where foreign-controlled companies contribute minimally to the nation’s employment figures and economic output. While these enterprises have a substantial impact in other member states, in Cyprus they account for only 10 percent of all jobs, a figure comparable only to Italy and marginally higher than Greece’s 8 percent.

Employment Impact

The report highlights that foreign-controlled companies in Cyprus employ 32,119 individuals out of a total workforce that, across the EU, reaches 24,145,727. In contrast, countries such as Luxembourg boast a 45 percent job share in foreign-controlled firms, with Slovakia and the Czech Republic following closely at 28 percent.

Economic Output Analysis

In terms of economic contribution, these enterprises generated a total value added of €3.5 billion in Cyprus, a small fraction compared to the overall EU total of €2.39 trillion. Notably, Ireland leads with 71 percent of its value added stemming from foreign-controlled firms, followed by Luxembourg at 61 percent and Slovakia at 50 percent. On the lower end, France, Italy, Greece, and Germany exhibit values below 20 percent.

Domestic Versus Foreign Ownership

The data underscores Cyprus’s heavy reliance on domestically controlled enterprises for both employment and economic output. However, it is important to note that certain businesses might be owned by foreign nationals who have established companies under Cypriot jurisdiction. As a result, these firms are classified as domestically controlled despite having foreign ownership or management components.

Conclusion

This analysis emphasizes the unique role that foreign-controlled enterprises play within the Cypriot economy. While their overall impact is limited compared to some EU counterparts, the presence of these companies continues to contribute significantly to the island’s economic landscape.