Breaking news

Nicosia Emerges As A Regional Space Hub During 6th COSPAR Symposium

by THEFUTURE.TEAM

November 6, 2025

Nicosia, Cyprus, is poised to cement its position as a burgeoning space hub as it hosts the 6th COSPAR Symposium alongside a vibrant public Space Science Street Festival. Organized by the Cyprus Space Exploration Organisation (CSEO) in collaboration with Cyprus Comic Con, the festival creates an open forum for dialogue, discovery, and cooperation among space experts and the general public at Town Hall Square and the CSEO Space Outreach Centre.

Bringing Space Science To The Masses

Beginning at 7 pm and free of charge, the festival offers a rare opportunity for visitors to meet key figures from the space community. Highlights include a session with Hungarian astronaut Gyula Cserenyi of the HUNOR programme, insights from COSPAR president Pascale Ehrenfreund, and an address by CSEO president George Danos. This engagement model reflects a commitment to demystifying space science and inspiring future generations through direct interaction with industry pioneers.

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

A Global Convergence Of Expertise

Beyond the street festival, the symposium welcomes a constellation of experts from NASA, the European Space Agency (ESA), the Japan Aerospace Exploration Agency (JAXA), the American Institute of Aeronautics and Astronautics (AIAA), and United Launch Alliance. Exhibits include elements from the HUNOR astronaut programme, curated artworks from the Moon Gallery Foundation, and the miniature display “From Choirokitia to Mars” — a nod to Cyprus’ innovative cultural blend, first unveiled at the 2023 Venice Biennale.

A Multifaceted Celebration Of Innovation

The event is further enlivened by live music performances, premium food trucks, and a mesmerizing fire-dance show, with generous support from the Research and Innovation Foundation (RIF). These elements combine to create an immersive experience where scientific inquiry meets cultural celebration.

Strategic Vision And Global Partnerships

The symposium, held from November 3 to 7 under the theme “Space Exploration 2025: Humanity’s Challenges And Celestial Solutions”, underscores Cyprus’ strategic role as a bridge between continents. Chief Scientist Demetris Skourides unveiled the nation’s long-term Vision 2035, which seeks to cultivate a knowledge-based, innovation-driven economy. Central to this vision is the Cyprus Space Research And Innovation Centre (C-SpaRC) and the planned launch of Cyprus’ first domestically produced satellite in 2026, bolstered by expanding partnerships with global entities such as ESA and the Artemis Accords.

Forging A Future In Space

Key announcements during the opening ceremony included the signing of the Nicosia Space Accords, a treaty aimed at deepening international cooperation in space research and exploration. Representatives like Georgios Komodromos, speaking on behalf of the President of the Republic, emphasized that space remains a pivotal enabler of progress across diverse fields from navigation to climate monitoring and disaster management.

Charting A Course For Tomorrow

As the symposium continues, distinguished figures—including Lockheed Martin’s Dr. Eric Smith—will engage in dialogues on emerging technologies, such as the democratization of discovery through artificial intelligence. The comprehensive program, featuring technical sessions and the Space Leaders Roundtable, positions Cyprus as an emerging nucleus for space, research, and innovation. This initiative not only celebrates past achievements but also sets the trajectory for future endeavors in space exploration.

The Future Forbes Realty Global Properties

Cyprus Records EU’s Largest Quarterly Drop In Public Debt Ratio

by THEFUTURE.TEAM

October 21, 2026

Cyprus recorded the European Union’s largest quarterly decline in government debt as a share of GDP in the second quarter of 2026, as its debt burden continued to fall while borrowing levels across the bloc increased, according to Eurostat.

Debt Ratio Falls To 48.5%

Cyprus’ government debt fell to 48.5% of GDP at the end of June, down from 51.5% in the first quarter and 58.1% a year earlier.

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

In absolute terms, debt declined to €19.2 billion from €20.03 billion at the end of March and €21.7 billion in June 2025. Cyprus also recorded the EU’s second-largest annual reduction in its debt-to-GDP ratio, after Greece.

Cyprus Outpaces Other EU Member States

Greece recorded the largest annual decline, at 11.2 percentage points, followed by Cyprus at 9.5 points, Slovenia at 4.5 points and Portugal at 3.4 points.

Quarterly, Cyprus led the bloc, ahead of Greece, where the ratio fell by 2.7 percentage points, and Hungary, which recorded a 2-point decline.

By contrast, the EU’s debt-to-GDP ratio increased to 82.9% in the second quarter from 82.5% in the first. The euro area ratio rose to 88.8% from 88.4%. Compared with the same period in 2025, the figures increased from 81.4% and 87.3%, respectively.

Debt Levels Remain High Across Europe

Greece had the EU’s highest debt ratio at the end of June, at 140.8% of GDP, followed by Italy at 139.9%, France at 119.1%, Belgium at 110.2% and Spain at 101.4%.

The lowest ratios were recorded in Estonia at 26.1%, Denmark at 27.1%, Luxembourg at 28.2% and Bulgaria at 28.7%.

Compared with the first quarter, debt ratios rose in 15 member states and fell in 10, while the Netherlands and Spain remained unchanged. Poland recorded the largest quarterly increase, at 3 percentage points.

Cyprus Maintains A Government Surplus

Cyprus’ debt reduction comes alongside a strong fiscal position. In 2025, the country recorded a government surplus of 3.6% of GDP, the highest in the EU, according to audited figures published by Cystat and Eurostat. Government debt at the end of that year stood at €20.05 billion, or 52.3% of GDP.

However, Cyprus’ seasonally adjusted government surplus narrowed to 3.3% of GDP in the second quarter of 2026, from 3.8% in the first quarter.

The figures come from Eurostat’s latest government deficit and debt release, based on member states’ second 2026 notifications under the EU’s Excessive Deficit Procedure and compiled under the European System of Accounts 2010 methodology.