Cypriot shipping executive Thomas Kazakos has taken the International Chamber of Shipping’s (ICS) campaign for a toll-free Strait of Hormuz to Bahrain’s Foreign Minister, as the industry steps up pressure for the restoration of safe and unrestricted passage through one of the world’s most important maritime routes.

The ICS Secretary General met Bahrain’s Foreign Minister Abdullatif bin Rashid Al Zayani at the kingdom’s embassy in London last week, with discussions focusing on the continuing conflict, maritime security and the protection of seafarers.

Reflecting on the talks, ICS said that “it is vital we continue supporting the preservation of freedom of navigation as the foundation of international maritime governance”, stressing that, in the context of the continuing conflict in the Strait of Hormuz and the surrounding region, “no tolls should be imposed”.

The organisation explained that “this is a message echoed in ICS’ current campaign, which we are working on alongside our members, to emphasize the importance of freedom of navigation and a toll-free Strait of Hormuz”.

Temu has denied receiving foreign subsidies that gave it an unfair advantage in Europe, pushing back after the European Commission accused the online retailer of failing to cooperate fully during an inspection at its European headquarters. 

The Commission sent a Statement of Grounds to Temu’s parent company PDD Holdings and its subsidiary WhaleCo Technology Limited following an unannounced inspection at WhaleCo’s premises in Dublin between December 2 and 5, 2025. 

However, the document does not amount to a finding that Temu received subsidies or distorted competition. It concerns the company’s conduct during the inspection, while the underlying subsidy investigation continues separately. 

Temu said it disagreed with the Commission’s preliminary conclusions and maintained that it had cooperated fully and responded to every request made by investigators. The company will now examine the document and submit a formal response, expressing confidence that Brussels will reconsider its position. 

Greek lender Eurobank S.A. executed a €2.46 million share buyback between July 27, 2026 and July 31, 2026 as part of its ongoing capital management programme, the Greek lender announced on August 3, 2026.

The transaction saw the financial institution repurchase a total of 556,717 own shares traded on the Euronext Athens exchange over the five-day period.

The acquisitions were made at an average purchase price of €4.4207 per share, bringing the total cost of the weekly operation to €2,461,056.60.

All trades were processed through the bank’s subsidiary investment arm, Eurobank Equities Single Member Investment Firm S.A.

The buyback scheme was formally initiated following an announcement on June 10, 2026, which implemented decisions previously approved by the bank’s leadership.

Demetra Holdings Plc executed a minor share buyback transaction on the Cyprus Stock Exchange (CSE) on July 31, 2026 as part of its ongoing corporate management strategy, the company announced on Monday.

The announcement was issued to inform the investing public in strict accordance with the relevant regulations of the Cyprus Stock Exchange (CSE) and the circulars of the Cyprus Securities and Exchange Commission (CySEC).

The transaction was carried out under the explicit authority granted to the board during the company’s annual general meeting held on June 30, 2026.

The company proceeded with the transaction through its designated broker, the Cyprus Investment & Securities Corporation Ltd (CISCO).

The Cyprus Chamber of Commerce and Industry (Keve) has announced that the Confederation of Indian Industry, in association with the Indian Space Research Organisation, IN-SPACe, and NewSpace India Limited, is organising the 9th Bengaluru Space Expo 2026 from September 7 to September 9, 2026, at the Bangalore International Exhibition Centre in Bengaluru, India.

The three-day international event will include a comprehensive conference and exhibition centred on the theme of harnessing space for global progress through innovation, policy, and growth.

The exhibition aims to showcase vital advancements in space technology while strengthening international cooperation, joint ventures, and business partnerships between Indian and global enterprises active in the space sector.

The primary focus areas for the expo encompass earth observation, remote sensing, geospatial intelligence, emerging and critical space technologies, human spaceflight, space exploration, innovation, and research.

Organising a holiday is one of the few ways I can turn five days of rest into a part-time administrative position. 

I open seventeen browser tabs, compare the same flight six times and eventually return to the first one after its price has risen. There will be an airline tab, a hotel tab and several restaurants I save with great enthusiasm before forgetting they exist. 

Somewhere in the middle, I will send screenshots to a WhatsApp group in which everybody has an opinion but nobody wants to make the booking. 

From Cyprus, spontaneity also has geographical limits. We cannot board a train after work and wake up in another country. Nearly every escape begins with a flight, an airport and the careful calculation of whether a 6am departure is worth the emotional damage. 

In 10 years, all this may appear rather old-fashioned. 

By 2036, I may simply tell an artificial-intelligence agent that I need five days away, somewhere cooler than Limassol, with a direct flight, a sea view and a budget I would prefer not to discuss aloud. 

More products became cheaper than more expensive on the e-kalathi price tracking platform during the second half of July, although wide price differences between supermarkets continued to raise questions over the strength of competition in Cyprus’ grocery market.

According to the Consumers Association’s latest review, prices increased across 805 products between July 16 and 31, with an average rise of 10.6 per cent. At the same time, 908 products became cheaper, recording an average reduction of 11.9 per cent. 

The findings therefore point to prices moving sharply in both directions, rather than a uniform increase across the market. 

The largest category-level increases were recorded in frozen pasta and pizzas, where prices rose by 7.6 per cent, followed by fruit juices at 6.6 per cent. Prices for chocolates and pasta increased by 6.3 per cent. 

However, the association said the differences between the selling prices of supermarkets participating in the e-kalathi platform remained significant.

The Central Bank of Cyprus (CBC) on Monday reported that deposit interest rates increased while consumer borrowing costs eased in June 2026, with the value of pure new lending also recording a sharp monthly rise driven by large corporate loans.

The data showed that the interest rate on household deposits with an agreed maturity of up to one year climbed to 1.42 per cent in June from 1.25 per cent in May.

The corresponding rate for deposits from non-financial corporations also increased, rising to 1.41 per cent from 1.31 per cent a month earlier.

On the lending side, the interest rate on consumer credit declined to 6.50 per cent in June, down from 6.95 per cent in May.

The interest rate on housing loans also edged lower, slipping to 4.04 per cent from 4.06 per cent in the previous month.

The CBC explained that the weighted average interest rate on housing loans can fluctuate from month to month because the portfolio contains different categories of lending, including loans for primary residences and holiday homes, each carrying different levels of risk and interest rates.

Cyprus’ retail sector continued its strong performance in June 2026, with both the value and volume of sales rising compared with a year earlier, according to figures released on Monday by Cystat.

The state statistical service said the turnover value index of retail trade, excluding motor vehicles, increased by 8.3 per cent year on year in June, while the turnover volume index rose by 5.5 per cent, pointing to continued resilience in consumer spending despite higher inflation during recent months.

The latest figures follow another strong performance in May, when the value index increased by 9.8 per cent and the volume index by 7.5 per cent on an annual basis.

The June data also build on Cyprus’ strong showing in the latest Eurostat retail trade figures, which showed the island recording the largest monthly increase in retail trade volume among all EU member states in May.

The European Union’s electric vehicle market rebounded strongly in 2025, while Cyprus continued its gradual shift towards electrified transport with hybrid cars accounting for more than half of new passenger saloon car registrations during the first half of 2026.

Eurostat figures showed that 1.89 million new battery-only electric passenger cars were registered across the EU in 2025, representing a 29.7 per cent increase compared with 2024, when registrations had fallen by 6 per cent from the previous year.

The total number of battery-only electric passenger cars on EU roads reached 7.59 million in 2025, up 31.5 per cent from the 5.77 million recorded in 2024.

Plug-in hybrids also recorded strong growth, with new registrations rising by 34.2 per cent in 2025 to 1.03 million vehicles.

Cyprus’ economic sentiment continued to improve in July 2026, supported by stronger confidence among businesses in the services and retail trade sectors, according to the latest business and consumer surveys published by the Economics Research Centre of the University of Cyprus (CypERC).

The centre said the Economic Sentiment Indicator (ESI-CypERC) increased by 0.7 points compared with June, extending the positive trend seen in recent months despite weaker consumer confidence.

The improvement was driven primarily by stronger business sentiment in the services and retail trade sectors, while confidence weakened slightly in construction and industry.

According to the report, the Services Confidence Indicator increased mainly because firms became more optimistic about their expected turnover in the coming months.

Limassol-based Lemissoler Navigation has named MV Lem Azalea and MV Lem Plumeria, the first two vessels in its four-ship dual-fuel methanol newbuilding programme.

The naming ceremony took place end of July. The two 65,000-dwt carriers were built by CSSC Huangpu Wenchong Shipbuilding in cooperation with China Shipbuilding Trading Co. Both vessels will operate under charter to Cargill.

The vessels originated from Lemissoler’s operational experience and its ambition to develop efficient and competitive dry bulk carriers with the flexibility to meet present requirements and the evolving demands of the maritime energy transition.

Bringing the concept to life was a joint effort. Shanghai Merchant Ship Design and Research Institute translated Lemissoler’s operational requirements and continuous owner input into the vessel design and detailed engineering, while the American Bureau of Shipping contributed its classification expertise and technical guidance.

A Cyprus Chamber of Commerce and Industry (Keve) member association representing property valuers has warned that online property valuation tools and automated valuation systems should only be treated as indicative estimates and cannot replace assessments carried out by qualified professionals.

Specifically, the property valuers’ association, responding to the growing use of digital platforms and automated systems to estimate property values, said the public should understand both the benefits and the limitations of these services before relying on them.

It explained that technological systems and online valuation platforms can serve as useful supporting tools by providing an initial indication or approximation of a property’s likely value.

However, the association stressed that these systems are generally based on automated models which depend on the availability and quality of data, as well as general parameters, meaning they cannot always capture the unique characteristics of every property.

Island Oil will contribute towards a scholarship for a newly admitted University of Cyprus student joining the MA in Peace, Conflict and Democracy for the 2026/2027 academic year.

The scholarship will support a student accepted into the programme offered by the university’s Social and Political Sciences department, extending the company’s cooperation with the institution.

Announcing the initiative, Island Oil said that “education creates opportunities, empowers future leaders, and drives meaningful change in society”, adding that the contribution forms part of its commitment to education and youth development.

“We believe that investing in education means investing in opportunity, social progress, and the values that help shape a stronger future,” the company said.

The master’s programme examines peace, conflict and democratic transformation through an interdisciplinary approach. It lasts 18 months and carries 90 ECTS, combining academic study with research and practical skills.