Weekly Update 3 December 2025 _____________________________________________________________________ 🏛️ Politics & Geopolitics The newly elected president Tufan Erhürman remains a focal figure for hopes of renewed dialogue with the Greek-Cypriot side. His election earlier in October boosted optimism that UN-backed talks on the island’s future might resume. However, tensions persist after a recent maritime boundary agreement between Republic of Cyprus and Lebanon triggered a s

The past week has featured very mild and pleasant weather TRNC Weekly Update - 24 November 2025 Here’s a summary of what’s been happening in northern Cyprus over the past week — covering key sectors and developments. ---------------------------------------------------------------------------- 🏛️ Politics Tufan Erhürman (President of the Turkish Republic of Northern Cyprus) met with Nikos Christodoulides (President of the Republic of Cyprus) in the UN buffer zone. During the

TRNC Weekly Update - 15 November 2025 Here’s a summary of what’s been happening in northern Cyprus over the past week — covering key sectors and developments. _____________________________________________________________________ 🏛️Politics Northern Cyprus remains in the spotlight with regards to the governance of the island. Tufan Erhüman, the newly-elected Turkish-Cypriot leader, has emphasised the need to “learn from past failed negotiations” before entering any fresh talk

The Story of Panama Home: A Dream 30 Years in the Making The Story of Panama Home: A Dream 30 Years in the Making Every business has a story, but some stories carry a special kind of warmth — the kind that comes from perseverance, passion, and a lifelong dream finally coming true. Panama Home, the newest home textiles and décor store in Esentepe, is one such story. At its heart is a woman named Emne Mutlu , born in 1973, whose life has been shaped by hard work, family values,

Central Bank of the Republic of Türkiye (CBRT)   cuts key one-week repo rate from 40.5% to 39.5% . 🏦  On 23 October 2025 , the Central Bank of the Republic of Türkiye (CBRT)  announced a 100-basis-point rate cut , bringing its key one-week repo rate down from 40.5% to 39.5% .The move was smaller than previous cuts earlier in the year, reflecting caution amid stubborn inflation and economic headwinds. According to Reuters, the CBRT signalled it was still focused on promoting

Discover the Newest Tech Hub Laconic Computer has expanded by opening a new store in the booming Esentepe area. This new location complements their existing stores in Girne and Alsancak. The store is conveniently situated in the commercial units beside the H. Gul market. Now, local residents can easily acquire their tech items without having to travel into Girne or Lefkosa. Laconic Computer Expands With A Wide Range of Products At the Esentepe store, customers will find a div

If you're visiting or relocating to Northern Cyprus, one of the first practical questions you'll ask is: Where should I exchange my money for the best rate? Here’s everything you need to know to make sure you’re getting good value on currency exchange . 💱 What Currency Is Used in Northern Cyprus? The official currency is the Turkish Lira (TRY) .However, euros, pounds, and US dollars  are widely accepted in tourist areas, property markets, and by many businesses. Still, for d

Dima has continued its expansion operations and opened a new store in the Esentepe area. Situated opposite the entrance to Turtle Bay, the store allows local residents to stock up on groceries and many non-food items without having to go into Girne or Lefkosa. Congratulations to Dima on their new store. Dima Esentepe Dima expands

Year Inflation Rate (%) Notes 2015 7.67 Stable inflation amid moderate growth. 2016 7.78 Slight increase due to political uncertainty. 2017 11.14 Double-digit inflation returns after several years. 2018 16.33 Currency crisis leads to sharp price increases. 2019 15.18 Inflation remains high despite policy measures. 2020 12.28 Pandemic-related disruptions impact prices. 2021 19.60 Monetary easing contributes to rising inflation. 2022 72.31 Inflation surges amid currency depreci

The economy of Northern Cyprus is quite unique due to its international isolation , dependence on Turkey , and its semi-official status . Despite these challenges, it has developed a functioning economy driven by a few key sectors. GDP Composition of Northern Cyprus Here’s a breakdown of what makes up the GDP of Northern Cyprus : 💰 GDP Composition of Northern Cyprus While detailed and fully reliable economic data is hard to come by (due to its unrecognized status), the main

The recent U.S. tariffs could have significant economic effects for Turkey, affecting key sectors and potentially influencing the broader economy. ​ Impact on Key Export Sectors: Automotive Industry:  The U.S. has imposed a 25% duty on all automotive imports, directly impacting Turkey's auto sector, a major contributor to its exports. This tariff is expected to reduce the competitiveness of Turkish vehicles and parts in the U.S. market, potentially leading to decreased sales

The Turkish lira (TRY) has experienced significant volatility over the past decade due to economic policies, inflation, and global market conditions. Investors, businesses, and citizens alike are concerned about its future value and purchasing power. While predicting currency movements with certainty is challenging, several key factors will influence the lira’s trajectory in the coming years. Economic Policies and Interest Rates One of the biggest drivers of the lira's future