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India And China To Reopen Direct Air Travel After Nearly Five Years

After almost five years of suspended direct flights, India and China have agreed to resume air travel between the two nations, signaling a shift in their relations following a deadly military clash in 2020 over their disputed Himalayan border.

The agreement, confirmed by India’s foreign ministry, comes after a meeting between Indian Foreign Secretary Vikram Misri and Chinese Foreign Minister Wang Yi. The two countries will soon hold further discussions to establish a framework for the resumption of flights.

The suspension of direct air travel since the 2020 border conflict had led to tensions, with India tightening restrictions on Chinese companies, banning several popular Chinese apps, and reducing passenger flight routes. Despite the travel restrictions, direct cargo flights between India and China had continued.

However, in recent months, relations between the two nations have begun to thaw. Notable meetings, including one between Chinese President Xi Jinping and Indian Prime Minister Narendra Modi in Russia this past October, have helped improve diplomatic ties.

During his meeting with Misri on Monday, Wang Yi emphasized the need for both countries to work collaboratively, move towards resolving economic and trade issues, and foster long-term political stability and transparency.

“Mutual support and achievements should guide our relationship, rather than doubt and alienation,” Wang stated, reflecting the positive tone of their discussions. This meeting follows a historic agreement in October aimed at easing tensions along their shared border.

While Indian civil aviation authorities had resisted restoring air links in the past due to ongoing border disputes, there have been signs of a shift. Sources told Reuters that India may now be open to reconsidering the opening of airspace and streamlining visa approvals for Chinese nationals.

This recent diplomatic development marks a key step in the two nations’ efforts to move beyond their historical tensions and strengthen bilateral relations.

Robust Cyprus Construction Activity Bolsters Vassilico Cement’s 2025 Performance

Vassilico Cement Works Public Company Ltd reported a net profit of €35.52 million for 2025, supported by strong construction activity in Cyprus. Company profit reached €34.99 million, reflecting higher revenues and improved operating performance.

Domestic Market Growth Driven By Cyprus Construction

Group revenue rose to €152.75 million, while company revenue reached €152.66 million, up 11% year on year. Growth was driven by increased sales volumes in the domestic market, where construction activity remained strong throughout the year.

Enhanced Production Efficiency And Cost Management

Gross profit increased to €50.30 million at group level and €50.21 million at company level, compared with €42.49 million in 2024. The improvement reflects gains in production efficiency and cost control, supported by higher use of alternative fuels and improved electricity efficiency. These measures reduced unit costs while supporting environmental targets.

Executive Insights And Macroeconomic Outlook

Executive Chairman Antonis Antoniou said strong domestic demand supported production volumes, with the company maintaining focus on the local market and managing exports selectively. He added that favorable economic conditions in Cyprus contributed to performance, despite regulatory pressures in Europe and broader geopolitical uncertainty.

Navigating Energy And Regulatory Challenges

Future performance will be influenced by energy market volatility and European climate policy, including carbon pricing and the Carbon Border Adjustment Mechanism. Rising fuel and electricity costs continue to affect energy-intensive industries.

The company is expanding its renewable energy capacity, with a photovoltaic park reaching 16MW and plans for an additional 8MW, subject to grid connection. The investments aim to improve cost stability and energy efficiency.

Shareholder Returns And Strategic Investments

The board approved an interim dividend of €0.15 per share, totaling €10.79 million, on September 25, 2025. A final dividend of €16.55 million, or €0.23 per share, will be proposed. Combined, total dividends amount to €27.34 million, or €0.38 per share.

Management said the company will continue focusing on efficiency, cost control and sustainability as it navigates energy market pressures and regulatory requirements.

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