Cyprus’ petroleum product sales fell sharply in June, according to figures by the state statistical service (Cystat), as the island’s fuel market continued to adjust to the lingering effects of higher prices and geopolitical uncertainty following the conflict in the Middle East.

The statistical service reported that total petroleum product sales reached 129,479 tonnes in June 2026, representing an 8.0 per cent decline compared with the same month last year.

The figures come as Cyprus continues to experience one of the highest annual increases in fuel prices in the European Union, despite retail prices easing in recent weeks from the peaks triggered by tensions between Israel and Iran.

According to Eurostat, the price of fuels and lubricants for personal transport in Cyprus was 18.6 per cent higher in June 2026 than a year earlier, placing the island among the countries recording the steepest annual increases in the bloc.

The Bank of Cyprus (BoC) on Monday announced that it was named Best Sub-Custodian Bank in Cyprus for 2026 by international financial publication Global Finance, recognising the bank’s performance in custody, depositary and post-trade services.

The award acknowledges excellence across a range of asset servicing activities, including operational efficiency, technology, client service and regulatory expertise, while recognising institutions that consistently deliver high-quality custody solutions to institutional and private investors.

According to the bank, the distinction reflects its continued commitment to safeguarding client assets while providing reliable custody and depositary services to Cyprus’ financial sector.

It added that it also highlights the Bank of Cyprus’ continued investment in innovative post-trade services, supported by governance standards, regulatory compliance and expertise in local and international markets.

CFA Society Cyprus announced on Monday the election of a new board of directors, marking a new phase for the organisation following its annual general meeting.

The association said it is entering a new era of growth, strategic initiatives, and commitment to professional excellence and ethics after the leadership change.

Andreas Spyrides has been elected president of the association, succeeding Constantinos Kourouyiannis, who during his tenure contributed to strengthening the organisation’s role and presence within Cyprus’ financial community.

Jan-Hofmeyr Retief assumes the role of vice-president, while the seven-member board is completed by Kyriacos Inios as secretary and Evgeny Tarakanov as treasurer.

The remaining members of the board are Stella Mourouzidou Damtsa, Byron Kaklopoulos, and Spyros Ierides.

Bank deposits and lending in Cyprus both recorded stronger monthly increases in June, according to figures published by the Central Bank of Cyprus (CBC), reflecting continued growth in household and business banking activity.

The CBC reported that total deposits increased by a net €601.2 million in June 2026, compared with a net increase of €343.8 million recorded in May. Despite the stronger monthly inflow, the annual growth rate of total deposits eased slightly to 5.0 per cent in June from 5.1 per cent in May.

The outstanding balance of total deposits reached €58.7 billion at the end of June. At the same time, deposits held by Cyprus residents increased by €626.2 million during the month.

Cyprus’ efforts to expand its theme park sector could help transform the island into a more diversified, year-round tourism destination, as global demand for immersive visitor attractions continues to grow and destinations increasingly compete on experiences rather than traditional sun-and-sea holidays.

The prospect gained renewed attention last week when the Deputy Ministry of Tourism, the Cyprus Employers and Industrialists Federation (Oev) and the Cyprus Association of Amusement and Activity Parks met to discuss the operation of existing theme parks, the activities they offer and ways to improve the visitor experience.

According to the Deputy Ministry of Tourism, the government recognises that theme parks rank among the world’s leading forms of entertainment and contribute significantly to the competitiveness of tourism destinations, adding that it is investing in policy aimed at supporting the creation of theme parks in Cyprus.

The meeting was attended by Deputy Minister of Tourism Kostas Koumis, Oev professional associations coordinator Kyriacos Angelides and Cyprus Association of Amusement and Activity Parks president Iosif Petrou, together with association member Nemad Manic and officials from the deputy ministry.

The Cyprus Trading Corporation (CTC) announced on Monday the completion of its mandatory takeover bid for Ermes Department Stores Plc.

The company said the process related to the acquisition of up to 100 per cent of Ermes’ issued share capital had been finalised following the offer originally submitted on April 02, 2026.

After a final review of acceptance and transfer forms, the total acceptance rate reached 9.14 per cent, corresponding to 15,957,667 shares of the target company.

Of these accepted shares, 1,026,128 shares, or 0.58 per cent of the issued share capital, were held by persons considered under the law to be acting in concert with the offeror.

The Cyprus Securities and Exchange Commission (CySEC) announced on Monday that it has granted Dinos Lefkaritis an exemption from the obligation to submit a mandatory public takeover bid following a planned acquisition of additional shares in Petrolina (Holdings) Public Ltd.

The decision was taken by the commission’s board on July 20, 2026, following an application submitted by Lefkaritis and was announced on July 27, 2026.

The exemption relates to the acquisition by Lefkaritis of up to 10,000 shares in Petrolina (Holdings) Public Ltd.

According to the commission, the proposed acquisition represents up to 0.0114 per cent of the company’s issued share capital and voting rights.

Eurobank announced on Monday that it repurchased 1,464,364 shares on the Euronext Athens for a total cost of €6,119,952.33 between July 20, 2026 and July 24, 2026, as part of its ongoing share buyback programme.

The bank carried out these transactions following a resolution of the annual general meeting of the bank’s shareholders held on April 28, 2026, and a subsequent board of directors resolution dated April 29, 2026.

Eurobank Equities Single Member Investment Firm S.A., a member of the exchange, facilitated the purchases on behalf of the banking institution.

The purchasing window spanning July 20, 2026 to July 24, 2026 saw varying daily transaction volumes and pricing metrics across the trading sessions.

Hotel occupancy across Cyprus is averaging around 85 per cent for July and August, noticeably lower than last year’s record levels, with higher energy costs and continued regional instability weighing on the tourism sector, industry representatives said on Monday.

Pasyxe director-general Christos Angelides said that although bookings have improved in recent weeks, the sector remains behind last year’s performance and uncertainty continues to cloud the autumn season.

“There has been stronger demand over long weekends, particularly through last-minute bookings from neighbouring countries and the domestic market, which has helped improve the picture,” he said.

Even so, he warned that rising energy costs linked to regional conflicts, together with persistently expensive airfares, continue to pose challenges for Cyprus.

“We remain optimistic and continue to work together as an industry, but these are issues we must keep in mind,” he said.

Cyprus Cement Public Company Ltd and K+G Complex Public Company Ltd have announced the distribution of dividends to their entitled shareholders.

Both companies confirmed that dividend cheques have been mailed directly to shareholders eligible to receive the payments.

They also stated that shareholders whose securities are held under the control of a participant have received their dividends directly into the participant’s bank account.

Investment firm Demetra Holdings Plc announced on Monday the repurchase of its own shares in line with regulatory requirements of the Cyprus Stock Exchange (CSE) and the Cyprus Securities and Exchange Commission (CySEC).

The company said the transaction followed authorisation granted at the annual general meeting held on June 30, 2026.

During a session on July 24, 2026, it proceeded with the purchase of 4,800 treasury shares at a price of €1.50 each.