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Micro-Wineries In Cyprus Aim To Revive The World’s Oldest Named Wine

Commandaria, praised by ancient Greek poets nearly 3,000 years ago, holds the title of the world’s oldest recorded and named wine. Once celebrated by royalty and historical figures, this Cypriot sweet wine has struggled to maintain its global presence despite its deep-rooted heritage.

A Rich History Of Recognition

The wine’s legendary status is deeply intertwined with European history. It is believed to have won the world’s first recorded wine competition in the 13th century under French King Philippe Augustus and was famously served at the wedding of English King Richard the Lionheart in Cyprus in 1191. The medieval Knights Hospitaller, who established their headquarters on the island during the Third Crusade, played a key role in its production and named it after their estate, the Grande Commanderie. Later, the Orthodox Church adopted the wine for religious ceremonies, further cementing its cultural significance.

Commandaria reached its production peak under Venetian rule in the 15th and 16th centuries, valued for its distinctive sweetness and complex bouquet. 

Challenges In The Modern Market

Despite its historical significance, Commandaria has faced difficulties in securing a place in the international market. Production reached around 200,000 bottles in recent years but saw a decline, partly due to the loss of Russian tourism, a key consumer base. Additionally, an attempt to enter the vast Chinese market faltered due to supply limitations.

Unique Characteristics And Production

Commandaria owes its distinctive taste to Cyprus’ volcanic soil, which enriches the grapes with notes of honey, raisin, walnut, fig, carob, cinnamon, coffee, and caramel. It is made from indigenous Mavro and Xynisteri grapes, which are sun-dried for up to 12 days to concentrate their sweetness. Strict European regulations mandate a minimum aging period of two years in oak barrels, and authentic Commandaria can only be produced in 14 designated villages on the southern slopes of the Troodos mountains.

The Role Of Micro-Wineries

Small, quality-focused wineries have begun to breathe new life into Commandaria. Unlike large-scale producers, these boutique operations prioritise craftsmanship over volume. Some wineries are experimenting with bespoke varieties, catering to evolving consumer preferences, and have gained a loyal domestic and international following.

A Slow But Steady Comeback

While global sales remain modest, domestic interest in Commandaria is growing. Some wineries have reported an increase in demand, with visitors returning to Cyprus specifically to replenish their stock. Experts believe that a sustained focus on quality and a well-coordinated marketing effort could position Commandaria for a stronger global presence.

To ensure long-term success, producers are focusing on refining quality and strengthening their foothold in the domestic market before making a collective push internationally. With its unparalleled history, unique production methods, and renewed dedication from small-scale winemakers, Commandaria may yet reclaim its place among the world’s most distinguished wines.

Apple Shares Surge On Robust Quarterly Results Amid Strategic Transition

Quarterly Performance Highlights

Apple shares rose more than 3% on Friday following the release of quarterly results that exceeded expectations and updated revenue guidance. The company forecast fiscal third-quarter revenue growth of 14% to 17% year-on-year, above market expectations of around 9.5%. Demand for the iPhone 17 lineup remained a key driver, alongside sales of Mac models, including the lower-cost MacBook Neo.

Revenue Guidance And Product Performance

During the earnings call, Apple reported fiscal second-quarter revenue of $111.18 billion, up 17% year-on-year and above expectations, despite a slight shortfall in iPhone revenue. Growth was supported by multiple segments, including Mac and services. Higher-margin services, such as subscriptions, Apple Pay, iCloud, and AppleCare, continued to contribute to overall revenue diversification. Tim Cook, Chief Executive Officer, described the iPhone 17 lineup as “the most popular in our history,” reflecting continued consumer demand across product categories.

Margin Management Amid Global Supply Challenges

Cook also addressed supply conditions, noting ongoing pressure from rising memory costs linked to global supply constraints. He said the company is evaluating different approaches to manage these costs while maintaining margins. Analysts at Morgan Stanley raised their earnings per share forecast for the fiscal year from $8.63 to $8.89, citing Apple’s margin management. Cook is expected to step down in September after a 15-year tenure.

Service Revenue And Long-Term Growth

Services revenue increased by approximately 16% year-on-year to $30.98 billion. Apple’s installed base, which exceeds 2.5 billion active devices, continues to support growth in subscription-based services. Gross margin reached 49.3% in the quarter, with guidance pointing to a range of 47.5% to 48.5% for the next period.

Looking Ahead

Despite concerns related to memory pricing and supply challenges, Apple’s strategic initiatives and robust demand for its diverse range of products have positioned it favorably for sustained growth. As the market continues to watch the leadership transition and further product innovations, Apple remains a pivotal player within the technology sector, demonstrating a consistent ability to navigate complex market dynamics.

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