European Union leaders have correctly identified high energy prices as a threat to households, industry and the wider economy, but their proposed response remains inadequate, energy systems expert Andreas Poullikkas has warned.

Writing after the EU summit held on October 15-16, the former Cyprus Energy Regulatory Authority (CERA) chairman and vice-rector of Frederick University argued that Europe needed structural investment in electricity networks, interconnections and energy storage rather than continued reliance on temporary support measures.

“The diagnosis is correct, but the treatment remains largely inadequate,” Poullikkas said, assessing the summit’s conclusions.

Lordos United Public Ltd has completed the €8.16 million acquisition of a 51 per cent stake in P&S Carton Industries Ltd, following regulatory approval, bringing the Cypriot cardboard packaging manufacturer under its control.

The company announced on Thursday that it had acquired 35,700 shares in P&S Carton in accordance with the share purchase agreement signed on July 10, 2026.

The transaction was completed after the Commission for the Protection of Competition approved the deal, finding that the concentration was compatible with the functioning of competition in the market.

Following completion, P&S Carton has become a subsidiary of Lordos United, while the sellers retain a combined 49 per cent shareholding.

Safe Bulkers has taken delivery of Kypros Island, the first methanol dual-fuel bulk carrier to join the Cyprus register, after Shipping Deputy Minister Marina Hadjimanolis named the new vessel at a shipyard in China.

Built by Japan’s Tsuneishi Shipbuilding at its Zhoushan yard, the 81,200-deadweight-tonne Kamsarmax is also the first ship of its kind to enter Safe Bulkers’ fleet. Although designed to carry everyday dry bulk cargoes such as grain, iron ore and coal, it can operate on either methanol or conventional marine fuel.

Its delivery gives Cyprus a first foothold in this emerging part of the dry bulk market, where alternative-fuel vessels remain far less common than in container shipping. For Safe Bulkers, meanwhile, it puts a sizeable investment in cleaner ship technology to work.

Cyprus’ economy grew by 25.8 per cent in real terms between 2019 and 2024, recording one of the strongest expansions in the European Union since before the Covid-19 pandemic, according to Eurostat figures comparing economic performance across the bloc’s regions.

The increase placed Cyprus well above the EU-wide growth rate of 5.6 per cent over the same period, highlighting the island’s economic expansion between the final pre-pandemic year and 2024.

The figures come alongside more recent data showing that Cyprus recorded the EU’s highest government surplus in 2025 and the largest quarterly decline in public debt relative to gross domestic product (GDP) in the second quarter of 2026, underlining the country’s recent economic and fiscal performance.

Cyprus apartment owners could find it harder to sell a property while communal fees remain unpaid, under proposed reforms that would give management committees more leverage over outstanding bills and introduce a €20 annual charge per unit.

The changes are intended to tackle a familiar problem in jointly owned buildings: one neighbour does not pay, the lift still needs servicing, and everyone else is left wondering who will cover the shortfall. However, the legislation has not been passed, and the new fee is not currently payable.

Following discussions in parliament on October 15, the Interior Ministry and the five district local government organisations (EOAs) moved closer to an agreement on the proposed system. The district bodies would eventually supervise jointly owned buildings and their management committees, with January 1, 2029 the target for transferring responsibilities, provided the necessary preparations are completed.

Cyprus is receiving up to 35 per cent fewer parcels from outside the European Union, although the volume of goods being imported has barely changed, as shoppers adjust to new customs charges ahead of a further increase on November 1.

The latest figures from the Customs Department point to a change in purchasing habits rather than a corresponding decline in demand, with consumers increasingly combining several products into a single shipment.

Customs Department spokesman Giorgos Constantinou has told Politis that parcels arriving from third countries have fallen by 30 to 35 per cent since the EU introduced a temporary €3 customs duty on July 1.

The future of family-owned businesses in Cyprus, and particularly the difficulties of passing them from one generation to the next, will take centre stage at a public conference hosted by AUB Mediterraneo in Paphos on November 6.

The discussion comes as succession remains one of the most pressing challenges facing family enterprises, with a 2025 analysis by KPMG Cyprus finding that only 30 per cent of family businesses successfully pass to the second generation, while just 10 to 12 per cent survive to the third.

The Paphos regional tourism board (Etap) is hosting a delegation of eight German travel agents as part of ongoing efforts to strengthen visitor numbers from Germany and promote the district as a leading year-round tourism destination.

The initiative is being carried out in close cooperation with Louis Hotels, while Etap is responsible for coordinating the programme and organising visits to introduce the travel professionals to the destination.

The visit provides an opportunity for the German agents to experience Paphos’ natural beauty, rich cultural heritage and upgraded infrastructure first-hand, Etap said in an announcement.

The Cyprus Chamber of Commerce and Industry (Keve) announced on Wednesday that existing businesses can apply for funding of up to €100,000 per project under a new €1.5 million grant scheme aimed at accelerating the development and commercialisation of innovative cybersecurity products and services.

The programme was announced by the Office of the Commissioner of Communications’ Digital Security Authority (DSA), acting as Cyprus’ designated National Cybersecurity Coordination Centre (NCC-CY), in cooperation with the Research and Innovation Foundation (RIF).

The scheme aims to help existing enterprises rapidly develop and bring competitive cybersecurity solutions to market, with funding available for innovative software, hardware and educational material.

The National Bank of Greece has elected Adrianos Ifaistion Kyriazis as a non-executive member of its board of directors, representing the Hellenic Corporation of Assets and Participations, the bank announced on Wednesday evening.

The appointment was made during a board meeting held on October 21, 2026.

Kyriazis’ election remains subject to regulatory approval and ongoing supervision under the applicable legal and regulatory framework.

Genikes Insurance has revised its privacy statement to clarify how it processes customers’ personal data and protects their rights, the company announced on Thursday.

The revised statement explains how the insurer handles personal information and safeguards consumer data, while providing customers with information about the use and security of their data.

The document is available on the company’s website, as well as at Genikes Insurance branches.

The construction of a tramway in Limassol could cost as much as €95 million per kilometre, the city’s mayor Yiannis Armeftis said on Thursday, as he evaluated the prospects for a tramway to be built in Cyprus’ second city.

“Preliminary estimates vary significantly depending on the technology to be used, with the cost ranging from €25m to €95m per kilometre,” he told television channel Sigma, though he did stress that “such an investment should not be evaluated solely based on construction costs”.

Instead, he said, “the equation should take into account the benefits which could arise from upgrading transit areas, increasing the value of land and real estate, and improving people’s quality of life”.

MPs on Thursday called for tighter controls on property purchases by foreign nationals, warning that legislation restricting individual buyers could prove ineffective unless companies and other corporate structures were also covered.

The House interior committee continued examining proposed amendments to legislation governing the acquisition of property by foreigners, with discussions expected to resume in a fortnight.

The committee is awaiting the government’s next steps towards drafting a comprehensive legislative proposal regulating property acquisitions by foreign nationals.

The Cyprus Stock Exchange (CSE) has thanked those who attended the funeral of its late deputy general manager Nikos Trypatsas, and those who sent condolences, laid wreaths or made donations in his memory.

In an announcement issued on Thursday, the exchange’s council and staff expressed their gratitude to everyone who paid tribute to Trypatsas, honouring his long-standing contribution to the organisation, his integrity and his character.

Trypatsas passed away on Monday following a prolonged battle with cancer, having served the CSE for 32 years after joining the organisation in 1994.

The exchange announced three days of mourning following his death, with flags flown at half-mast in his memory.

The Association of Cyprus Banks (ACB) is taking part for the sixth consecutive year in the ASPIS awareness campaign, urging the public to remain vigilant against online scams and protect their personal and banking information.

The campaign is being run in cooperation with the Office of the Commissioner of Electronic Communications and Postal Regulation and the Cyprus Police, with the aim of protecting citizens from electronic fraud and strengthening security in digital transactions.

In an announcement, the association urged people to be “particularly careful” when dealing with suspicious text messages, emails and telephone calls requesting personal or banking details, passwords or transaction verification codes.

“A sense of urgency, suspicious links and requests for immediate confirmation of details are warning signs that should raise concerns among citizens,” the association said.

Emirates showcased new accessibility initiatives at the AccessAbilities Expo 2026 in Dubai, highlighting technologies and services designed to help passengers with disabilities travel with greater independence, including its travel rehearsal programme, which has also been held at Larnaca airport.

The airline presented its latest concepts at an interactive stand at the Dubai World Trade Centre, where the expo took place from October 19 to 21, bringing together accessibility solutions and inclusive innovation.

Emirates also highlighted its existing Travel Rehearsals programme, which works with airports worldwide to help autistic children and young adults, together with their families and support networks, familiarise themselves with the airport journey before taking a real flight.

The sessions are intended to reduce travel-related anxiety and build confidence by allowing participants to practise the different stages of moving through an airport in advance.

Emirates has so far completed 80 Travel Rehearsals across six continents. The programme has been held at airports including Larnaca, Athens, Amsterdam, London Heathrow, London Gatwick, Paris, Dubai, Bangkok, Singapore, Sydney, Toronto, New York, Los Angeles, Cape Town, Johannesburg, Delhi, Tokyo and Hong Kong, among many others.

Greek retail investors are increasingly turning to stock markets with relatively small starting amounts and a long-term investment approach, according to a new report by Wealthyhood, the investment platform that partnered with the Bank of Cyprus to expand access to investing in Cyprus.

The report, titled ‘Greek Investor Pulse 2026: The New Greek Investor‘, marks the first anniversary of Wealthyhood’s launch in Greece in October 2025 and draws on anonymised, aggregated data from more than 35,000 registered users.

It found that the typical new investor is 34 years old and starts investing with €100, while more than eight in 10 investors are currently in profit.

The findings also point to growing interest in domestic shares, with one in five investors now holding Greek stocks or exchange-traded funds (ETFs) following the introduction of Greek shares to the platform in July 2026.

The report is also relevant to Cyprus, where Wealthyhood launched a co-branded investment platform with the Bank of Cyprus earlier this year, making investing available to residents regardless of whether they bank with the lender.

The European Consumer Centre Cyprus handled 864 cross-border complaints and 557 requests for information in 2025, resolving approximately 53 per cent of enquiries and cases successfully, according to its annual report.

The centre said cases were resolved in cooperation with European Consumer Centres in other member states, with the aim of reaching out-of-court settlements that satisfied the parties involved.

Only 4.8 per cent of cases were referred to other alternative dispute resolution bodies, the report found.

Consumer satisfaction with the centre’s case-handling services reached 95.24 per cent, a level the report described as a long-standing achievement.

The European Consumer Centre Cyprus operates within the Consumer Protection Service of the Ministry of Energy, Commerce and Industry.