United Arab Emirates energy giant Abu Dhabi National Oil Co has expressed interest in Cyprus’ emerging natural gas sector, Energy Minister George Papanastasiou has said.

“They expressed interest in the eastern Mediterranean,” Papanastasiou told Reuters on the sidelines of an energy conference in Abu Dhabi.

He clarified that Adnoc had not made any formal request or proposal to the government, though it had expressed interest “quite a number of times”.


The Employers and Industrialists Federation (OEV) and the Cyprus Chamber of Commerce and Industry (Keve) on Tuesday condemned the indefinite strike by workers in the concrete industry.

The strike started on Tuesday, supported by trade unions Sek, Peo and Deok, is of indefinite duration and affects companies that are members of the Concrete Manufacturers Association.

OEV urged the unions to lift the strike measures and return to the negotiating table.


Intership Navigation and Interorient Shipmanagement on Tuesday announced that they have merged to form InterMaritime Shipmanagement.

The new entity, which will include Intership’s sister company Donnelly Tanker Management, will manage 170 vessels, offering comprehensive ship management services globally.

“This merger represents a significant milestone in our journey as ship manager,” said Dieter Rohdenburg, CEO of Intership Navigation and Donnelly Tanker Management.


Cyprus’ Authority Of Cooperative Societies, led by Kypros Protopapas, has raised concerns about the complexities involved in establishing a new, nationwide cooperative bank.

Speaking before the House finance committee this week, Protopapas explained that the authority has been advising interested parties on the stringent requirements for establishing a new cooperative institution.

Initial consultations began five years ago and have involved at least ten additional meetings.

As the regulatory body responsible for overseeing cooperative entities in Cyprus, the authority has said that this new cooperative project will require careful consideration.


Cyprus-based TheSoul Publishing has announced its acquisition of a majority stake in Mediacube, a certified partner of YouTube and Meta that provides fintech solutions to nearly ten thousand creators across 132 countries.

The deal was jointly announced by TheSoul Publishing CEO Arthur Mamedov and Mediacube CEO Michael Bychenok.

“Our vision for TheSoul is rooted in an ecosystem approach,” said Mamedov.

“We make sure we deeply understand the market, its dynamics, and all its moving parts,” he added.


The Bank of Cyprus claimed two prestigious Gold Awards at Bousias’ Cyprus HR Awards for 2023, according to an announcement released on Tuesday.

The bank was awarded ‘Best Change Management Strategy & Initiative’, as well as ‘Best Partnership with Educational Institutions, showcasing its innovative approach to internal engagement and staff development.

Yiannis Ioannou, Manager of People and CEO Office, said that “it is a great honour to receive this year’s awards and an even greater pleasure to see our own people’s satisfaction in seeing their own suggestions put into practice”.


The Central Bank of Cyprus (CBC) this week announced an ambitious transformation plan under its newly released strategy for 2025-2026.

This initiative, outlined in a 13-page document, aims to create a more flexible, modern, and sustainable central bank that meets emerging challenges in the European financial landscape.

Moreover, the strategy seeks to strengthen the institution’s adaptability to economic, technological, and environmental shifts.

With 76 specific strategic actions, the CBC intends to support the long-term growth and stability of the Cypriot economy and enhance its integration within the European framework.


The value of bounced cheques in Cyprus plummeted by 65 per cent in the period from January to October 2024, according to a report released this week from the Central Bank of Cyprus (CBC).

According to the central information register, which the CBC maintains, the total value of bounced cheques recorded on the provisional list amounted to €533,524.

This represents a substantial drop from the figure of €1,536,852 recorded during the same period last year.


The CFA Society Cyprus this week announced the launch of the CFA Institute University Research Challenge at Athlos House.

In the context of the competition, CFA Society Cyprus invited Cypriot university students to analyse Bank of Cyprus stock, in turn promoting financial analysis skills and practical market experience.

The challenge, part of a global initiative by the CFA Institute, encourages students to apply theoretical knowledge in real-world contexts.  


The Cyprus Stock Exchange (CSE) ended Tuesday, November 5 with losses.

The general Cyprus Stock Market Index stood at 192.28 points at 12:58, reflecting a decrease of 0.83 per cent.

The FTSE / CySE 20 Index was at 117.06 points, also showing a decline of 0.85 per cent.

The total value of transactions amounted to €206,519 at the aforementioned time during trading.

In terms of the sub-indexes, the main and investment firm indexes fell by 1.14 per cent and 2.39 per cent respectively. The alternative index rose by 0.19 per cent while the hotel index remained unchanged.

The biggest investment interest was attracted by the Bank of Cyprus (no change), Hellenic Bank (-1.02 per cent), Demetra Holdings (-2.42 per cent), Salamis Tours (+1.24 per cent), and KEO PLC (-0.89 per cent).