Greeks mourn, Turks celebrate anniversary of invasion that split Cyprus
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Abu Dhabi index gains on oil surge, Dubai falls on profit-taking
Abu Dhabi index closed higher on Friday, supported by an increase in oil prices. Dubai index declined after investors moved to book profit on last five sessions’ gains. Oil prices – a key catalyst for Gulf’s financial market – rose 0.75% to reach $70.04 a barrel by 1106 GMT. Air Arabia Abu Dhabi announced plans to increase its operational capacity by 40% in 2025. The Dubai index saw profit-taking, but its sustained rally last week has pushed the index to a key resistance level.
July 18 (Reuters) – Abu Dhabi index closed higher on Friday, supported by an increase in oil prices after the European Union introduced new sanctions against Russia, while the Dubai index declined after investors moved to book profit on last five sessions’ gains.
The EU sanctions , aimed at punishing Moscow over its war in Ukraine, include fresh measures targeting the Russian oil and energy industry and lower the G7’s price cap for buying Russian crude oil to $47.6 per barrel.
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Oil prices – a key catalyst for Gulf’s financial market – rose 0.75% to reach $70.04 a barrel by 1106 GMT. [O/R}
Dubai’s main index (.DFMGI) , opens new tab meanwhile fell 0.2%, ending a five-day winning streak after reaching its highest level in 17 and a half years during the previous session.
However, budget airline Air Arabia (AIRA.DU) , opens new tab rose by 0.8%, continuing its upward trend after Air Arabia Abu Dhabi announced plans to increase its operational capacity by 40% in 2025.
The Dubai index saw profit-taking on Friday, but its sustained rally last week has pushed the index to a key resistance level. Next week’s corporate earnings may provide the catalyst needed to break through this barrier, said Ahmed Negm, Head of Market Research MENA at XS.com.
Dubai’s index went up 4.1% and Abu Dhabi’s rose 2% in their fourth week of gains, according to LSEG data.
Markets remain steady, supported by positive corporate earnings and stable oil prices, though global developments continue to have an impact on investor confidence, said Ahmed Negm.
Reporting by Mohd Edrees in Bengaluru; Editing by Joe Bavier
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Greeks mourn, Turks celebrate anniversary of invasion splitting Cyprus
Turkish President Tayyip Erdogan was due to attend celebrations in north Cyprus, a breakaway state recognised only by Ankara. Cyprus President Nikos Christodoulides attended a memorial service in the south for people who died. The simmering conflict is a source of tension between NATO partners Greece and Turkey and complicates Turkey’s ambitions to foster closer ties with the European Union.
Reuters
Greek and Turkish Cypriots on Sunday marked the 51st anniversary of Turkey’s 1974 invasion of Cyprus, an event that split the island and continues to shape geopolitics in the region.
A woman walks next to the graves of soldiers killed in the 1974 Turkish invasion of Cyprus at the Tymvos Makedonitissas military cemetery in Nicosia, Cyprus on 20th July, 2025. PICTURE: Reuters/Yiannis Kourtoglou
Air raid sirens wailed across the southern Greek Cypriot populated parts of Cyprus at 0530 local time, the hour Turkish troops landed on the northern coast in a military intervention triggered by a brief Greece-inspired coup.
Turkish President Tayyip Erdogan was due to attend celebrations in north Cyprus, a breakaway state recognised only by Ankara. Cyprus President Nikos Christodoulides attended a memorial service in the south for people who died.
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Efforts to reunify Cyprus as a bizonal, bicommunal federation have repeatedly failed amid deep-rooted mistrust and competing visions for the island’s future.
The simmering conflict is a source of tension between NATO partners Greece and Turkey and complicates Turkey’s ambitions to foster closer ties with the European Union, of which both Cyprus and Greece are members.
UN Secretary-General Antonio Guterres said on Thursday the two sides would continue discussions on trust-building measures.
“There is a long road ahead,” he said.
Cyprus leaders to continue discussions on confidence building, says UN
Leaders of ethnically split Cyprus have agreed to continue discussions towards confidence building. Greek and Turkish Cypriot communities will press ahead with attempts to open new crossing points between the two sides. Reunification talks collapsed in mid-2017 and have been in a stalemate since. The Cyprus conflict is a key source of disagreement between NATO allies Greece and Turkey, fiercely defensive of their respective kin on the island.
The Greek and Turkish Cypriot communities will press ahead with attempts to open new crossing points between the two sides and cooperating on solar energy initiatives, Guterres said after hosting the Cypriot leaders at U.N. headquarters in New York.
“It is critical to implement all these initiatives as soon as possible, for the benefit of all Cypriots,” Guterres said.
The two sides had agreed in an encounter with Guterres earlier this year to open four additional crossing points, demine, establish a youth affairs committee, and launch environmental and solar energy projects.
There are presently nine crossing points along a 180-km-long (116-mile-long) ceasefire line splitting the two sides. Guterres said there was a “question of itinerary” in relation to one of the new checkpoints opening but that there had been important progress on the issue.
Cyprus was split more than 50 years ago in a Turkish invasion after a brief Greek-inspired coup, following years of sporadic violence between Greek and Turkish Cypriots. Reunification talks collapsed in mid-2017 and have been in a stalemate since.
The Cyprus conflict is a key source of disagreement between NATO allies Greece and Turkey, fiercely defensive of their respective kin on the island.
(Writing by Michele Kambas; Editing by Sandra Maler)
Greeks mourn, Turks celebrate anniversary of invasion that split Cyprus
Turkish President Tayyip Erdogan was due to attend celebrations in north Cyprus. More than 3,000 people died in the Turkish invasion, which also drove tens of thousands of Greek Cypriots from their homes. Efforts to reunify Cyprus as a bi-zonal, bi-communal federation have repeatedly failed amid deep-rooted mistrust and competing visions for the island’s future. The simmering conflict complicates Turkey’s ambitions to foster closer ties with the European Union, of which both Cyprus and Greece are members. U.N. Secretary-General Antonio Guterres said last week the two sides would continue discussions on trust-building measures.
Item 1 of 5 Relatives sit next to the graves of soldiers killed in the 1974 Turkish invasion of Cyprus at the Tymvos Makedonitissas military cemetery in Nicosia, Cyprus July 20, 2025. REUTERS/Yiannis Kourtoglou
NICOSIA, July 20 (Reuters) – Greek and Turkish Cypriots marked on Sunday the 51st anniversary of Turkey’s 1974 invasion of Cyprus, an event that split the island and remains a source of tension between NATO partners Greece and Turkey.
Air raid sirens sounded across the southern Greek Cypriot-populated parts of Cyprus at 5:30 a.m. (0230 GMT), the exact time when Turkish troops landed on the northern coast in a military intervention triggered by a brief Greece-inspired coup.
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Turkish President Tayyip Erdogan was due to attend celebrations in north Cyprus, a breakaway state recognised only by Ankara.
Cyprus President Nikos Christodoulides attended a memorial service in the south to commemorate the more than 3,000 people who died in the Turkish invasion, which also drove tens of thousands of Greek Cypriots from their homes.
“Despite those who want us to forget, we will never forget, or yield an inch of land,” Christodoulides said, calling celebrations in the north “shameful”.
Efforts to reunify Cyprus as a bi-zonal, bi-communal federation have repeatedly failed amid deep-rooted mistrust and competing visions for the island’s future.
Before the invasion, clashes between Turkish and Greek Cypriots saw Turkish Cypriots withdraw from a power-sharing government and prompted the deployment of U.N. peacekeepers in 1964.
Turkish Cypriot leader Ersin Tatar said the invasion had brought “peace and tranquility” to the island following the “darkest years” for Turkish Cypriots.
“Their (Greek Cypriots) goal was to destroy the Turkish Cypriots,” he said in a video address posted on X.
The simmering conflict complicates Turkey’s ambitions to foster closer ties with the European Union, of which both Cyprus and Greece are members.
U.N. Secretary-General Antonio Guterres said last week the two sides would continue discussions on trust-building measures, warning that “there is a long road ahead”.
Writing by Michele Kambas; Editing by Aidan Lewis and Helen Popper
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Russia condemns Israeli air strikes on Syria
The Russian Foreign Ministry condemned Israeli air strikes on Syria as violations of the country’s sovereignty and international law. “The new wave of violence in Syria is deeply concerning,” the ministry said in a statement.
“The new wave of violence in Syria is deeply concerning,” the ministry said in a statement.
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“The Russian side has repeatedly condemned Israel’s arbitrary use of force in Syria. These attacks, which constitute a gross violation of the country’s sovereignty and international law, deserve strong condemnation.
“We are convinced that the path to solving this problem lies through dialogue and strengthening national unity”.
Reporting by Reuters; Writing by Lucy Papachristou Editing by Andrew Osborn
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