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Cyprus President And Turkish Cypriot Leader Explore New Crossing Points In Key Meeting

On Monday, President Nikos Christodoulides and Turkish Cypriot leader Ersin Tatar will meet at the residence of the UN Secretary General’s Special Representative in Cyprus, Colin Stewart, located in the UN Protected Area at Nicosia airport. The two leaders will discuss the potential opening of new crossing points across the divided island.

This meeting follows an October 15, 2024 agreement made during an informal dinner hosted by UN Secretary-General Antonio Guterres in New York. The leaders had expressed a shared interest in exploring ways to increase movement between the north and south of Cyprus.

The Greek Cypriot side has already proposed the opening of crossing points at Pyroi and Kokkina, which were submitted during prior meetings of the negotiators with Stewart. Meanwhile, the Turkish Cypriot side has raised the possibility of opening a regular crossing point at Mia Milia.

In his recent report to the UN Security Council on the renewal of the UNFICYP mandate, Guterres welcomed the commitments made by both Cypriot leaders to consider the opening of additional crossing points. “We are approaching the meeting with a constructive attitude and a commitment to progress,” stated the Government Spokesman to the Cypriot News Agency (CNA) on Sunday. He noted that the groundwork had been laid with specific proposals and positions, and expressed hope that these would be discussed with the same positive and sincere spirit.

In the lead-up to the meeting, residents of the Paphos district gathered on Saturday in Pachyammos, advocating for the opening of a crossing point at Kokkina. On Friday, joint events were held by Greek Cypriot and Turkish Cypriot organizations at the Ayios Dometios checkpoint, calling for the establishment of new crossing points.

Cyprus has been divided since 1974 when Turkey invaded and occupied the island’s northern third. Despite several rounds of UN-led peace talks, a comprehensive settlement has yet to be reached, with the latest negotiations held at the Crans-Montana resort in Switzerland in July 2017 ending without progress.

The informal meeting in New York in October saw both leaders agree to continue dialogue under the UN Secretary-General’s auspices, focusing on the way forward and the opening of new crossing points to foster trust and facilitate movement across the island.

Chime’s Nasdaq Debut: A 37% Leap in the Fintech Arena

Chime set to debut on Nasdaq

On June 12, 2025, Chime had a groundbreaking debut on Nasdaq, where its shares surged by an impressive 37%. Initially priced above the expected range at $27, the shares closed the day at $37.11, setting a new market cap of $13.5 billion. From a valuation of $25 billion in its last venture round, this IPO marks a recalibration for Chime amidst evolving market dynamics.

The offering raised roughly $700 million, with an additional $165 million from existing shareholders. Despite the lower valuation, CEO Chris Britt highlights Chime’s commitment to serving Americans earning $100,000 or less, often overlooked by traditional banks. “We help our members avoid fees, access liquidity, and build savings,” Britt stated confidently.

Chime’s strong revenue momentum, with $518.7 million reported last quarter and a revenue increase by 32% year-over-year, underscores its growth potential. The company also achieved $25 million in adjusted profitability, improving its profit margin by 40 points over the past two years.

Chime now stands among fintech giants like eToro and Circle, rekindling investor interest in fintech IPOs. The future looks promising as other players like Klarna and Bullish eye public offerings.

For further insights into fintech innovation and investment opportunities, explore European Banking Evolution: Cyprus as a Catalyst for Regulatory Innovation and discover how Cyprus continues to play a pivotal role in financial advancements.

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