Cyprus has found its way onto National Geographic’s reading list, and this time the essential holiday packing begins with a novel.

A seven-night escape to Larnaca inspired by Elif Shafak’s The Island of Missing Trees has been included among seven literary retreats recommended by National Geographic Traveller UK for 2026. 

Under the rather lovely title “Fig trees and vine leaves”, the Cyprus retreat appears alongside literary journeys to Provence, Yorkshire, Zermatt, Svalbard, the Nile and Morocco. 

At its heart is Shafak’s 2021 novel, which moves between Cyprus and London and follows the love story of Greek Cypriot Kostas and Turkish Cypriot Defne. Their lives are shaped by the island’s division, loss and inherited memories, while one of the book’s most memorable narrators is not a person at all, but a fig tree that has witnessed far more than anyone realises. 

The retreat brings that story back to the island. Guests stay at the Josephine Boutique Hotel in central Larnaca, close to Finikoudes beach, with a rooftop swimming pool for anyone who prefers to read with a sea view and perhaps something cold beside them.

Eurobank posted higher profitability for the first six months of 2026, with the banking group highlighting Cyprus as one of its three core growth markets while reporting stronger lending, deposits and capital levels despite a more challenging international environment.

According to the bank’s interim report published on Wednesday, net profit attributable to shareholders reached €738 million in the first half of 2026, up from €691 million a year earlier, while adjusted net profit increased to €776 million from €711 million.

The bank said Cyprus continued to play a pivotal role in its international operations, both through earnings and through the integration of the former Hellenic Bank and insurance businesses, which are expected to deliver additional synergies over the coming years.

Eurobank explained that following the completion of the legal mergers between Hellenic Bank and Eurobank Cyprus, as well as between the former Hellenic Bank and CNP insurance companies during 2025, the operational integration of the businesses is now underway to create unified platforms for the enlarged entities.

Eight leading maritime associations, including the International Chamber of Shipping headed by Cypriot secretary-general Thomas Kazakos, have urged the United Nations and the International Maritime Organisation (IMO) to prevent the introduction of compulsory tolls or service fees in the Strait of Hormuz.

The joint open letter was sent on Monday to UN Secretary-General Antonio Guterres and IMO Secretary-General Arsenio Dominguez, reiterating the shipping industry’s concerns over proposals to charge vessels for using one of the world’s most important international waterways.

The letter was co-signed by the Asian Shipowners’ Association, BIMCO, Cruise Lines International Association, European Shipowners | ECSA, Intercargo, Intertanko, the International Chamber of Shipping and the World Shipping Council.

Opening with the danger faced by crews since the beginning of the conflict, the associations said seafarers have been operating under heightened uncertainty, with some sustaining injuries and others losing their lives while carrying out their work at sea.

“The safety of seafarers who make global trade possible should be non-negotiable,” they said, adding that “So too must be freedom of navigation.”

Cyprus may have built one of Europe’s largest shipping centres, but its next competitive test will be decided by the number of young people willing to build a life at sea and whether the industry can draw from the whole talent pool, rather than continuing to overlook much of its female half.

The island’s shipping sector supports more than 9,000 people ashore and over 55,000 seafarers working aboard vessels across international supply chains, according to government figures. Maintaining that position, however, will increasingly depend on whether maritime students reach the bridge and engine room, qualify as officers and remain in the profession. 

Cyprus placed those priorities at the centre of the Lefkosia Declaration, signed by EU maritime ministers in April during the island’s presidency of the Council of the EU. The declaration calls for stronger seafarer education, retraining for the green and digital transitions, better promotion of maritime careers and the equal participation of women. 

Shipping Deputy Minister Marina Hadjimanolis said the declaration points towards a European maritime sector that “recognises its people as its most valuable asset”, linking Europe’s shipping competitiveness directly to the skills, welfare and inclusiveness of its workforce. 

Cyprus’ registered unemployed rose by 5.8 per cent in July, with the increase driven mainly by administrative and support services, accommodation and food services, public administration and education, according to a report released on Wednesday by the state statistical service (Cystat).

The number of unemployed persons registered at district labour offices reached 11,728 on the last day of July 2026, compared with 11,088 in the same month last year.

This represented an annual increase of 640 persons, the statistical service reported.

Compared with June, the actual number of registered unemployed also rose sharply, from 10,056 to 11,728. However, the increase largely reflects seasonal changes, particularly in education and public administration.

Public interest in acquiring shares in Cyprus’ proposed new cooperative bank has been encouraging despite the August holiday period, according to the president of the Pancyprian Cooperative Holding and Cooperative Promotion Company Panicos Hambas.

Speaking to the Cyprus News Agency (CNA), Hambas said the response so far had been positive, even though many potential investors were away on their summer holidays.

“There has been a positive response from the public, while discussions are also taking place with companies interested in investing in the proposed bank,” Hambas said.

The public share offer began on July 22, 2026, with the online sale of 42 million new shares issued by the Pancyprian Cooperative Holding and Cooperative Promotion Company Ltd.

Cyprus hotel bookings have returned to a more normal pace, but August remains around 10 per cent behind, with operators relying on last-minute demand and discounts to support occupancy, the heads of two tourism bodies told the Cyprus News Agency (CNA) on Wednesday.

Akis Vavlitis, president of the Association of Cyprus Tourist Enterprises (Stek), and Christos Angelides, director general of the Cyprus Hoteliers Association (Pasyxe), spoke separately to the agency about the outlook for the remainder of the season.

Vavlitis gave a more positive assessment, noting that “some hotel units may be behind, but, in general, we are in a satisfactory state compared to the previous period”.

Although cancellations continue, they remain within normal levels, he explained, while some hotels in the Famagusta district may still be facing greater pressure.

Vavlitis also pointed to the improvement since the disruption experienced in March, noting that the tourism industry, hoteliers and the government “have done what is necessary to return the situation to some normality”.

Only 141 of the 728 hotels operating across Cyprus currently hold an operating licence, Paphos hoteliers association president Evripides Loizides said, warning that the problem requires immediate state intervention.

Speaking to the Cyprus News Agency (CNA), Loizides described licensing as one of the most serious issues facing the hotel industry, saying that it remained “at particularly low levels”.

“The responsibility does not lie exclusively with the hoteliers,” Loizides said, explaining that several objective obstacles continued to prevent hotel units from obtaining their licences.

In particular, he said that procedural and institutional problems needed to be addressed by the state, either through legislative intervention or amendments to the relevant regulations.

A last-minute rush by distressed borrowers has pushed applications to Cyprus’ mortgage-to-rent scheme beyond 4,200, prompting the government to extend the deadline for another two months.

The state-owned asset management company Kedipes has received 4,269 applications since the scheme opened in December 2023, spokeswoman Chara Papakyriacou told the Cyprus News Agency (CNA) on Wednesday. 

Interest accelerated sharply as the July 31 deadline approached, with more than 300 applications arriving during the final five days. In total, 929 applications were submitted during the latest window, which opened in May. 

As a result, the Finance Ministry extended the deadline until September 30, giving vulnerable borrowers facing the possible loss of their main residence another opportunity to apply. 

The Bank of Cyprus (BoC) has updated its corporate financial calendar, setting key milestone dates for its forthcoming interim dividend distribution and future earnings announcements following a strong first-half financial performance.

The updated schedule outlines the precise timeline for investors to receive the newly announced interim payout following the release of the half-year results.

According to the lender, the ex-interim dividend date has been scheduled for September 21, 2026, meaning investors acquiring shares from this date onwards will not be entitled to the upcoming payout.

The record date for interim dividend beneficiaries has been fixed for September 22, 2026, establishing the official list of eligible shareholders.

Investors will receive their cash payments on the interim dividend payment date of October 21, 2026.

Looking further ahead, the lender confirmed that the financial results and analysts briefing for the first nine months of 2026 will take place on November 5, 2026.

Cyprus banks continued to offer deposit rates well below the eurozone average in June 2026, while significant differences in both savings and lending rates persisted across individual lenders, according to a report published by the Central Bank of Cyprus (CBC) on Wednesday.

The figures showed that differences between credit institutions reached as much as two percentage points in certain lending categories, highlighting the varying pricing strategies adopted by banks operating on the island.

For household fixed-term deposits with a maturity of up to one year, the average interest rate in Cyprus stood at 1.42 per cent, compared with 2.03 per cent across the eurozone.

Ancoria Bank offered the highest rate in this category at 1.66 per cent, followed closely by National Bank of Greece (Cyprus) at 1.64 per cent.

Eurobank Limited offered 1.51 per cent, while Alpha Bank Cyprus provided 1.39 per cent and the Cyprus Development Bank offered 1.35 per cent.

Cyprus and India should build a structured roadmap for cooperation in startups, research and technology, turning growing bilateral interest into measurable partnerships, Indian High Commissioner Manish Manish said.

In a post on his personal online platform, Manish said he presented his views on the future of India-Cyprus innovation cooperation to members of KPMG Cyprus and Plug and Play Cyprus. 

“What stood out most during the discussion was that the opportunity is no longer theoretical,” Manish said. 

He said India has developed one of the world’s largest startup ecosystems, while Cyprus can provide Indian companies with a platform for access to the European Union, regulatory positioning, financial services and international cooperation. 

“The real question is how we move from interest to implementation,” he added.

The Cyprus Stock Exchange (CSE) Council this week announced its members’ market shares for July 2026, revealing that CISCO Ltd maintained its dominant lead in equity trading activity across the island’s capital market.

The official figures published by the exchange detail the performance of 16 registered brokerage firms, capturing both standard trading floor volume and pre-agreed block transactions.

During the single month of July 2026, the total cumulative value of share transactions on the Cyprus Stock Exchange (CSE) reached €17.11 million, with an average daily trading value of €552,044.

Pre-agreed package deals accounted for €838,201 of the total monthly trading volume recorded in July 2026.

Cyprus’ Industrial Turnover Index rose by 3.5 per cent in May 2026, reaching 148 units, according to figures released on Wednesday by the statistical service (Cystat).

For the first five months of the year, the index recorded a cumulative increase of 3.4 per cent compared with the corresponding period of 2025. 

The figures are calculated using 2021 as the base year, meaning the index measures monthly turnover changes in relation to the average monthly turnover recorded during that year. 

Manufacturing remained the main contributor to industrial turnover, with its index reaching 151.4 units in May, reflecting an annual increase of 2.6 per cent.

Demetra Holdings Plc purchased 3,960 of its own shares on August 4, 2026, as part of an ongoing share buyback programme executed through the Cyprus Investment & Securities Corporation Ltd (CISCO).

The company announced the transactions on Wednesday, in accordance with the regulatory frameworks of the Cyprus Stock Exchange (CSE) and the Cyprus Securities and Exchange Commission (CySEC).

All transactions took place at a uniform price of €1.47 per share, bringing the total outlay for the session to approximately €5,821.

The Cyprus Stock Exchange (CSE) announced on Wednesday the outcome of its latest review of listed companies’ compliance with minimum market capitalisation requirements, confirming that one company will have its trading warning removed while several others will continue to carry the designation.

The review covered the period between January and June 2026 and assessed companies listed on the regulated market against the minimum market capitalisation requirement, which constitutes both a listing condition and an ongoing obligation under the relevant stock exchange regulations.

The CSE said that CLR Investment Fund Public Ltd will no longer carry the “(S)” trading warning label on trading boards and price bulletins from Monday, August 10, 2026, after the reason for the designation ceased to exist following the company’s compliance with the minimum market capitalisation requirement.

At the same time, the exchange confirmed that the shares of Actibond Growth Fund Public Company Ltd, Chris Joannou Public Ltd, Unigrowth Investments Public Ltd, Philoktimatiki Public Ltd, and Display Art Plc will continue to carry the “(S)” warning label on their respective markets.

Freedom24 announced on Wednesday a long-term strategic partnership with the Anorthosis Football Academy, becoming its principal strategic sponsor as part of a broader investment in youth football development in Cyprus.

The agreement focuses exclusively on the Anorthosis Football Academy, with the company saying it aims to strengthen youth development through strategic collaboration, international expertise and the implementation of modern training initiatives designed to nurture the next generation of Cypriot football talent.

Freedom24 said the partnership builds on its previous involvement in youth football in Kazakhstan, where it has supported the QJ League, a competition it described as a successful model for improving player development pathways, raising competitive standards and introducing modern approaches to youth football.

Drawing on that experience, the company said it intends to bring international best practices to Cyprus through the academy’s long-term development.