The Cyprus Presidency of the Council of the EU advanced key transport and maritime files in Luxembourg on Monday, as ministers adopted conclusions on European shipping and ports, while also discussing cleaner mobility, supply chain resilience and the sector’s decarbonisation path beyond 2030. 

The Transport, Telecommunications and Energy Council, in its transport formation, was held on June 8, 2026, and was chaired by Transport Minister Alexis Vafeades and Deputy Shipping Minister Marina Hadjimanolis. 

At the end of the Council, Vafeades, Hadjimanolis and European Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas presented the results of the meeting, which centred on Europe’s competitiveness, resilience and strategic autonomy across transport and maritime policy. 

For the Cyprus Presidency, the meeting brought together several priorities pursued over the past six months, from clean mobility and connectivity to the resilience of transport networks, the strategic role of ports and the future of Europe’s maritime industrial base. 

Hadjimanolis initially co-chaired, together with Vafeades, the discussion on the decarbonisation of the transport sector after 2030, which focused on the revision of three key regulations for transport.

Greek lender Eurobank has announced details regarding the distribution of its dividend for the 2025 financial year, following approval by shareholders at the bank’s annual general meeting held on April 28, 2026.

The bank said that shareholders approved the distribution of a total dividend of €258.67 million, equivalent to €0.07123 per share before tax.

Eurobank explained that the amount payable per share would increase because 32,389,605 treasury shares held by the bank are not entitled to receive a dividend.

As a result, the gross dividend amount payable to eligible shareholders will rise to €0.07187 per share.

Energy Minister Michalis Damianos used his participation at the 10th Ministerial Meeting of the East Mediterranean Gas Forum (EMGF) in Washington to stress that current geopolitical developments make it essential to deepen regional cooperation, diversify supply sources and routes, and strengthen energy infrastructure.

The meeting took place on Monday at the headquarters of the US Chamber of Commerce and brought together the energy ministers of the forum’s member states.

Observers at the gathering included US Energy Secretary Chris Wright, as well as representatives of the European Union and the World Bank, according to an announcement by the ministry.

During his intervention, Damianos highlighted the strategic role of the EMGF as a pillar of regional cooperation and energy security in the Eastern Mediterranean.

He reiterated the support of the Republic of Cyprus for the further development of the organisation and its long-term strategy.

Finance Minister Makis Keravnos will travel to Luxembourg on Wednesday to participate in the upcoming Eurogroup meeting and chair the Ecofin Council the following day as part of Cyprus’ responsibilities during its Council of the European Union presidency.

According to the finance ministry, Eurozone finance ministers meeting on June 11, 2026, will discuss macroeconomic and fiscal developments in the euro area.

They will also be briefed on the International Monetary Fund’s (IMF) assessment of euro area policies.

The discussions will then continue in an enlarged format involving all European Union member states.

During that session, ministers will exchange views on economic and energy security within the European Union, based on a presentation by International Monetary Fund managing director Kristalina Georgieva.

Ministers will also examine the economic implications of efforts to strengthen the EU’s technological autonomy.

Demetra Holdings Plc on Tuesday announced that it conducted a series of transactions on June 8, purchasing 16,310 own shares at a price of €1.65 per share.

The repurchase of these shares was executed through the Cyprus Investment & Securities Corp Ltd (CISCO), as part of the company’s ongoing capital management strategy.

The first transaction saw the firm acquire 6,310 shares, followed by a second purchase of 5,000 shares, both completed on the same day.

Two further transactions for 3,558 shares and 1,442 shares respectively concluded the daily market operations, bringing the total volume of shares purchased to 16,310.

Safe Bulkers has signed a definitive agreement for the construction and acquisition, through financial leasing, of a newbuild capesize vessel with a capacity of 182,000 deadweight tonnes, the company announced.

The transaction, which was first outlined through a framework agreement in May and has now been completed, forms part of the company’s broader fleet renewal strategy.

The vessel will be acquired through a finance lease in the form of a ten-year bareboat charter agreement, beginning upon delivery, which is scheduled for the second half of 2029.

Under the agreement, Safe Bulkers will also have the option to purchase the vessel five years after the start of the charter, at pre-agreed redemption prices up to the tenth year of the agreement.

The resilience of the Greek economy remains a key pillar of the positive investment narrative for Greek banks, according to a new report by Jefferies, which maintains a buy recommendation for Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank.

The investment bank said Greek banks operate in one of the most attractive macroeconomic environments in Europe, adding that they continue to trade at a discount of around 15 per cent versus the wider European banking sector, which it sees as supportive of the sector’s valuation case.

In its report, the findings of which were shared by Greek business outlet Newmoney, Jefferies focused on recent economic data following Greece’s first quarter 2026 GDP figures, noting that the country continues to outperform the European Union in terms of growth.

Space technologies, Earth Observation and artificial intelligence are becoming strategic tools for Europe’s competitiveness, resilience and security, speakers said at a high-level forum held in Nicosia under the auspices of the Cyprus Presidency of the Council of the European Union 2026. 

The forum, titled ‘From Space to Solutions: Leveraging Space Technology, Earth Observation & AI for Real-World Impact’, brought together representatives of European institutions, governments, research organisations, businesses, investors and academia from several countries. 

It was co-organised by the Eratosthenes centre of excellence and the Cyprus Chamber of Commerce and Industry (Keve), within the framework of the EXCELSIOR project. 

The central message of the event was that space is no longer confined to scientific exploration, but has become a strategic sector with direct applications in the economy, security, climate resilience, agriculture, disaster management, shipping and public policy. 

Eurobank has projected that its total financing in Crete between 2023 and 2028 will exceed €1.3bn, underlining what it describes as a long-term commitment to supporting the island’s development trajectory and local business ecosystem.

The funding is directed towards investments across key sectors of the Cretan economy, including tourism and hospitality, energy and infrastructure, construction and real estate, trade, manufacturing and services, with the bank saying the aim is to help build a more resilient and sustainable production model for Crete.

As part of this strategy, Eurobank’s senior leadership is carrying out a three-day visit to Crete from June 8 to June 10, 2026, with the objective of strengthening dialogue with the business community, institutional stakeholders and local authorities.

The delegation is led by the chairman of the board, Giorgos P. Zanias, and the chief executive officer, Fokion Karavias, accompanied by deputy chief executives Konstantinos Vasileiou, Iakovos Giannaklis and Stavros Ioannou, along with senior bank executives.

Telecommunications provider Cyta on Tuesday held a conference in Nicosia on responsible governance, bringing together representatives from the state, the business community, organisations and the media to discuss the role of corporate governance in strengthening trust, accountability and value creation.

The event, entitled “Responsible Governance, Values in Action”, took place at the amphitheatre of Cyta’s headquarters in Nicosia and attracted representatives of institutions, partners and executives from organisations and bodies.

Discussions focused on corporate governance as a pillar of trust, accountability and value creation, while highlighting the need to move from principles to their practical implementation.

Particular emphasis was placed on the role of governance in enhancing the credibility, resilience and competitiveness of modern organisations.

Speaking on behalf of Cyta were chairwoman Maria Tsiakka, chief executive George Metzakis and director of sustainable development Aliki Drakou.

The Bank of Cyprus (BoC) has been named the best bank in Cyprus in the World’s Best Banks Awards 2026 by Global Finance, with the international publication citing the lender’s strong performance and strategic initiatives during 2025.

The award comes at a time when Western Europe’s banking sector is facing lower interest rates and increased pressure on profitability, prompting institutions to diversify revenue streams and invest further in technology and resilience.

According to Global Finance, European banks have shown remarkable resilience despite the European Central Bank’s (ECB) easing cycle, with many institutions adapting successfully to a more challenging environment.

In its review of Western Europe’s banking sector, the publication noted that the region’s leading banks remained well capitalised, continued their digital evolution, and actively pursued acquisitions to strengthen their business models.

Eurobank Research has been named Cyprus’ leading forecaster for a second consecutive year in the Focus Economics Analyst Forecast Awards 2026, recording strong performances against a field of established international and domestic banks and financial institutions.

The bank said that its Economic Analysis and Research Unit, known as Eurobank Research, secured first place overall and ranked first in most individual categories.

These included gross domestic product (GDP), unemployment, inflation, the fiscal balance, and the current account balance, extending the strong performance achieved in the previous year when the unit topped the overall ranking for macroeconomic forecasts in Cyprus.

The distinction comes through the annual Focus Economics Analyst Forecast Awards, which recognise the most accurate economic projections across more than 100 countries.

Cypriot company Easternmed Real Estate Capital Plc has completed a major investment in Brussels, after acquiring the full share capital of Arlon 75BV, the company that owns The Muse, a newly delivered office building in the Belgian capital’s European Quarter.

The deal, which gives Easternmed indirect control of the property, was confirmed through separate announcements by the Cypriot company and Belgian real estate group Immobel, which said it had sold the building for a total transaction value of €100 million.

The acquisition strengthens Easternmed’s international property portfolio and adds a high-profile asset in one of Europe’s most institutional business districts, with The Muse set to house the European Defence Agency (EDA) under a long-term lease.

According to Easternmed’s announcement to the Cyprus Stock Exchange, the total price for the acquisition of 100 per cent of the share capital of Arlon 75BV amounted to €82.26m, with the payment made entirely in cash through a bank transfer.

Immobel, for its part, referred to a total transaction value of €100m.

The Paphos regional tourism board (Etap) has launched a new promotional video dedicated to Polis Chrysochous, as part of wider efforts to strengthen domestic tourism and support local communities and businesses.

According to an announcement, the new material showcases the natural beauty, authenticity and distinct identity of the wider Polis Chrysochous area, placing emphasis on its beaches, landscapes, villages, gastronomy, culture and year-round visitor experiences. 

Through the video, the board has also launched a targeted promotional campaign aimed at the Cypriot market, using digital media, social networks and other promotional actions to encourage more domestic visitors to discover the district.

The campaign focuses in particular on areas that combine a rich natural environment with authentic experiences, while also offering strong potential for short breaks, family trips and thematic visits. 

Registrations of motor vehicles in Cyprus increased during the first five months of 2026, with hybrid and electric cars continuing to strengthen their position in the market, according to a report from the state statistical service (Cystat).

The figures showed that electrified vehicles accounted for the majority of new passenger car registrations, reflecting a broader shift away from conventional petrol and diesel engines.

According to Cystat, total motor vehicle registrations reached 23,743 units in January-May 2026, representing an increase of 13 per cent compared with 21,012 vehicles during the corresponding period of 2025.

In May 2026 alone, 5,173 vehicles were registered, up 6.0 per cent from the 4,879 units recorded in May 2025.

Cyprus’ trade deficit widened during the first four months of 2026, according to figures released by the Cyprus Statistical Service (Cystat), as imports increased and exports declined compared with the same period last year.

The latest data showed that the country’s trade deficit reached €3.05 billion in the January to April 2026 period, up from €2.67 billion recorded during the corresponding period of 2025.

According to the provisional figures for April 2026, total imports of goods amounted to €1.37bn, marking an increase of 15.1 per cent compared with the €1.19bn registered in April 2025.

Imports from other EU member states stood at €645.30 million, down from €740.80 million a year earlier.

The National Bank of Greece (Cyprus) on Tuesday announced the appointment of Nicolas Prentzas as general manager and chief operations officer, strengthening its management team in Cyprus as part of its strategy for continuous development and digital transformation.

The bank said the move forms part of its broader focus on operational excellence and accelerating its digital transformation, reinforcing capabilities across all areas of activity.

Prentzas brings extensive experience in senior leadership roles within the banking and financial sector, with direct responsibility for operations and technology functions, the bank explained.

The Cyprus Cement Public Company Ltd announced this week that it has proceeded with a share buyback transaction, purchasing its own shares in line with a prior shareholder decision and applicable corporate legislation.

The company said the transaction was carried out in accordance with the relevant Cyprus Stock Exchange regulations and Cyprus Securities and Exchange Commission circulars, as well as under the provisions of Companies Law Cap 113 Article 57A.

The buyback followed a resolution approved at the extraordinary general meeting of shareholders held on June 26, 2025, which authorised the company to proceed with the acquisition of its own shares.