Chief executive officer of Eurobank Limited Michalis Louis, opened the session by highlighting the significance of the merger.
He recalled that the process included a squeeze-out of minority shareholders and the delisting of Hellenic Bank shares.
The legal merger was completed on September 1, when the new entity, Eurobank Limited, officially began operating as a unified bank.
In this context, Louis praised the relevant government departments and regulators for facilitating what he described as a smooth and efficient process.
He said that while customers experienced no disruption, an extensive internal restructuring was required, involving significant work by teams from both Hellenic Bank and Eurobank Cyprus.
The CEO presented new financial figures for the bank, showing customer deposits at €23.3 billion as of June 2025, compared to €23.5 billion at the end of 2024.
Greek Shipping Minister Vasilis Kikilias will begin on Monday with a briefing at the UK Home Office on coastguard operations before a meeting with International Maritime Organization chief Arsenio Dominguez.
He will then join the name-day celebration of Archbishop Nikitas of Great Britain and serve as guest of honour at a Greek Embassy reception.
On Tuesday he will give statements at BMA House, appear on Capital Link’s high-level panel with Cyprus Deputy Shipping Minister Marina Hadjimanolis and shipowner Nikos Tsakos, and conclude with talks at the Department for Transport with Deputy Minister Keir Mather.
Cyprus, meanwhile, will use the week to promote its registry and tonnage tax regime.
The Finance Ministry requested more time to examine how to handle cases of natural persons holding dual nationality from an EU member state and a third country who wish to make strategic investments in Cyprus.
During the session, ministry representatives explained that they had contacted the European Commission about the issue.
They said that the commission had responded that “as long as a person holds the nationality of an EU member state, regardless of also having the nationality of a third country, they will be considered a European citizen and will not be subject to screening,” meaning they do not fall under the provisions of the bill.
People living in European Union cities tend to have stronger information and data literacy skills than those in towns, suburbs or rural areas, according to the latest figures from Eurostat.
For 2023 specifically, 85.4 per cent of people aged between 16 and 74 years living in cities across the European Union had at least basic information and data literacy skills.
This share was slightly lower among those living in towns and suburbs, at 80.4 per cent, and among those in rural areas, at 77.6 per cent.
Data showed that in 22 EU countries the highest proportions of people with at least basic information and data literacy skills were observed in cities.
However, in four countries higher shares were recorded among people living in towns and suburbs.
Speaking during his visit to the 5th Harvest Festival in Panayia on Sunday, Koumis noted that “we are in a phase where mountainous Cyprus is indeed being upgraded in terms of tourism,” pointing out that several investments have been made in the past two years.
He expressed optimism that the number of visitors to mountain communities would continue to rise in the coming years.
The deputy minister underlined that many of these investments are supported by the state. He explained that the ministry is running the revival plan of rural, mountainous and remote areas, under which around 150 applications have already been submitted by community councils across Cyprus.
“Our effort is focused through small and medium-scale projects to give life to the villages,” he said.
In his address at the inauguration of the new Department of Electrical and Electronic Engineering at the Tsakos Hellenic Schools of Nautical Studies (TEENS) in Chios, Karitzis said that upgrading maritime education is a government priority, noting that seafarers remain the backbone of global shipping.
He stressed that modern shipping requires curricula adapted to technological developments and closer cooperation between academia and the industry.
The Deputy Ministry of Shipping, he explained, approved the first academic programme for electrical and electronic engineers at TEENS, with oversight from Cyprus to ensure compliance with international safety standards.
“The increasing role of automation on ships creates the need for specialised training and certified officers,” he said, adding that ETOs are essential for navigation, communications, early warning systems and engine automation, all of which are vital to the efficiency and safety of vessels.
The vessel, built in 1992 and currently berthed at Vasiliko anchorage, has a gross tonnage of 1,882, a net tonnage of 1,172, and measures 88.2 metres in length with a breadth of 13.5 metres.
It is powered by a Yanmar diesel main engine, type MF29-ST, delivering 1,177 kW, and is fitted with two Yanmar diesel generators, type S165L-DN. All particulars are believed to be correct but are not guaranteed.
The Admiralty Marshal’s Office confirmed the ship will be sold as is, where is, free of all liens and encumbrances. The auction is scheduled for 10 am at the third-floor conference room of the Shipping Deputy Ministry’s main building on Kyllinis Street, Mesa Yeitonia.
The vessel has been appraised at €450,000. The sale will go to the highest bidder, provided the bid meets or exceeds the appraised value.
The agreement was signed by Keve president Stavros Stavrou, secretary general Philokypros Rousounides, CYFA president Costas Christoforou and general director Christoforos Ioannou.
They said the move underlined the need for cooperation to boost Cyprus’ competitiveness and credibility in the international business environment.
Under the MoU, the two bodies will exchange information on regulation and market trends, prepare studies, and stage conferences, seminars and networking events to support professional development.
The hourly labour costs in Cyprus rose by 4.1 per cent in the second quarter of 2025, compared to the corresponding quarter of the previous year, according to provisional data released by the Statistical Service on Monday.
The two components of labour costs, wages and salaries per hour worked and non-wage costs per hour worked, increased by 4.2 per cent and 4.1 per cent respectively, compared to the same quarter of 2024.
Moreover, the hourly labour cost, adjusted for seasonal fluctuations, recorded a 1 per cent rise compared to the previous quarter.
According to the Statistical Service (Cystat), job vacancies in the second quarter of 2025 reached 16,053.
This marks an increase of 2,275 positions compared to the same quarter of 2024, when vacancies stood at 13,778.
Moreover, compared to the first quarter of 2025, there was an increase of 2,529 positions.
The job vacancy rate in the second quarter of 2025 was 3.3 per cent, compared to 2.9 per cent in the previous quarter and 3 per cent in the corresponding quarter of 2024.
He said that the national shipping strategy is guiding the efforts of the Cypriot government to tackle the challenges facing the sector.
Vafeades delivered the above comments while welcoming the opening of the International Transport Workers’ Federation’s (ITF) Maritime Roundtable in Limassol.
More than 180 unionists from 140 countries are taking part in the event, which aims to strengthen international trade union cooperation and defend the rights of seafarers and dockers.
In his speech, the minister said that Cyprus is proud to be recognised as a maritime nation and one of the leading shipping centres in Europe and the Mediterranean, with a modern registry, dynamic ports and a strong logistics network.
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