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Cyprus Unemployment Ticks Up 9.7% In September As Public Sector And Services Weigh On Labour Market

Cyprus recorded a 9.7% year-on-year increase in registered unemployment in September, with the largest pressures coming from public administration and defence, information and communication, and administrative and support services, according to figures released Tuesday by the Statistical Service of Cyprus (Cystat).

Registered Unemployment Climbs Year On Year

The number of unemployed persons registered at district labour offices reached 8,366 at the end of September, up from 7,624 a year earlier, an increase of 742 people.

Month on month, however, the figure declined sharply from 12,385 in August, indicating a more mixed short-term picture.

The seasonally adjusted measure moved in the opposite direction, rising to 10,809 in September from 10,715 in August. That was also above the 9,895 recorded in September 2025.

Seasonally adjusted unemployment had stood at 10,082 in January, 10,095 in February and 10,292 in March before increasing to 10,565 in April. It then eased to 10,518 in May, edged up to 10,663 in June, slipped to 10,601 in July and reached 10,715 in August before climbing again in September.

Trade, Public Administration And Services Lead The Increase

By economic activity, wholesale and retail trade accounted for the largest number of registered unemployed in September, at 1,402, compared with 1,364 a year earlier.

Public administration and defence followed at 1,050, up from 866 in September 2025, while professional, scientific and technical activities rose to 855 from 780. Accommodation and food service activities also increased, reaching 815 from 768.

Information and communication saw one of the sharper gains, rising to 549 from 432, while manufacturing increased to 506 from 453. Education accounted for 491 registered unemployed, compared with 422 a year earlier, and administrative and support service activities rose to 436 from 355. Financial and insurance activities also moved higher, to 407 from 375.

Construction was one of the few sectors to post a decline, falling to 394 from 419. Human health and social work activities increased to 299 from 285, while transportation and storage rose to 293 from 266 in September 2025.

New Entrants And Smaller Sectors Show Mixed Trends

The number of newcomers registered as unemployed fell to 268 from 280 a year earlier.

Elsewhere, other service activities rose to 215 from 188, while arts, entertainment and recreation stood at 170, almost unchanged from 169 a year earlier. Real estate activities increased to 128 from 92.

At the lower end of the scale, agriculture, forestry and fishing fell to 46 from 53. Water supply, sewerage and waste management declined to 16 from 21. Activities of extra-territorial organisations and bodies remained steady at 10, while activities of households slipped to nine from 10.

Electricity, gas, steam and air conditioning supply fell to four from nine, and mining and quarrying declined to three from seven.

Paramount Closes $110 Billion Warner Bros. Discovery Deal, Creating Skydance Entertainment Giant

Paramount has completed its $110 billion acquisition of Warner Bros. Discovery, bringing together two of the most powerful names in media under a new combined company, Skydance. The deal, announced Tuesday, creates one of the largest entertainment mergers ever completed and reshapes the competitive landscape across streaming, film, television and cable.

A New Power Center In Global Entertainment

The combined company unites Paramount+ and HBO Max, alongside a broad portfolio of networks that includes CBS, CNN, MTV, TBS, Comedy Central and Food Network. It also gives Skydance control over some of the industry’s most valuable franchises, including The Lord of the Rings, Game of Thrones, the DC Universe and Yellowstone.

For the industry, the scale of the transaction is as significant as the assets themselves. In an era defined by streaming competition and rising content costs, ownership of established intellectual property has become a strategic advantage akin to controlling a premium distribution network in a previous media cycle.

Ellison Expands His Influence

The merger places one of the world’s largest entertainment studios under the control of David Ellison, who only last year completed the combination of Skydance Media and Paramount. With this latest transaction, Ellison is accelerating his rise as one of Hollywood’s most influential executives.

The Ellison family remains Skydance’s largest shareholder, backed by the financial power of Larry Ellison, the Oracle co-founder and David Ellison’s father. That support gives the company considerable flexibility as it integrates two sprawling media businesses and seeks to compete more aggressively across platforms.

Legal Hurdles Cleared Before Closing

The deal’s completion follows settlements with a coalition of U.S. states and a Hollywood writers’ union, removing the principal legal obstacles that had threatened to delay or derail the merger.

Paramount first announced in February that it would pursue Warner Bros. Discovery after a bidding contest with Netflix, which had earlier struck its own agreement to acquire Warner Bros.’ film and television studios and streaming operations, excluding the cable networks. Paramount strengthened its offer by promising shareholders additional cash if the deal failed to close by a set deadline and by agreeing to cover the breakup fee owed to Netflix.

What Skydance Says Comes Next

“Today is a historic day, not just for Skydance but for our entire industry,” Ellison said in a statement. “From the start, our ambition was to bring these two storied studios together and create a stronger competitor, with the talent, resources, and reach to tell great stories in every genre, on every platform, for audiences everywhere. Our focus now turns to the future: building a company that empowers creatives, entertains audiences and rewards shareholders. We couldn’t be more excited to get to work.”

Skydance said the combined company will generate nearly $70 billion in annual revenue. The company’s Class B shares are set to begin trading on the New York Stock Exchange today under the ticker symbol SKYD.

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