International benchmark Brent crude rose to $106.03 a barrel in early trading, recovering from Tuesday’s 0.9 per cent decline, while US West Texas Intermediate (WTI) increased to $94.42, according to Reuters.
The increase followed renewed Iranian attacks on commercial vessels passing through the Strait of Hormuz, alongside strikes by Yemen’s Iran-aligned Houthi movement against Saudi Arabia, including a facility belonging to state oil company Saudi Aramco.
The developments have renewed uncertainty over the recovery of oil shipments from the Persian Gulf, despite recent improvements in production and exports.
European University Cyprus professor Pieris Chourides presented preliminary research at the Forbes Cyprus Next Gen Banking & Fintech Summit showing the prominence of payment services in the industry. He said “businesses from India and other markets were using Cyprus as a base to enter the European Union, attracted by its regulatory environment and skilled workforce.”
The findings set the scene for a discussion involving Kraken, Nuvei and Bank of Cyprus (BoC) on how digital assets, stablecoins and newer payment systems could serve businesses and consumers.
Speaking at the Italy-Cyprus Maritime Business Forum, held at the DP World Limassol passenger terminal, Tsanos called for closer cooperation between government authorities, energy providers, municipalities and the maritime industry.
According to a statement issued by the association on Wednesday, he said the three sectors were closely connected but often operated with different priorities, decision-making processes and timelines.
Addressing a panel on sustainable ports and their integration with surrounding cities, Tsanos stressed that better coordination was essential for investments combining commercial viability, energy security and environmental protection.
The issues were discussed at AbbVie ONE – Human Centered Innovation, an event jointly organised by AbbVie and the MSJ Group at Nicosia’s Old Town Hall on October 8, under the auspices of President Nikos Christodoulides.
Bringing together representatives of the government, medical and scientific communities, healthcare organisations, the pharmaceutical industry and patient associations, the event examined how scientific advances could be translated more quickly into effective treatment options for patients in Cyprus.
Particular attention was given to access to innovative medicines, the development of clinical research, healthcare funding and the assessment of new therapies, as well as the need to address medical conditions for which existing treatment options remain limited.
The proposed cold ironing system, which would allow vessels to draw electricity from shore rather than running their engines while berthed, has yet to complete crucial steps towards implementation, according to information provided by Transport Minister Evi Tsolaki.
The minister confirmed that a request has been submitted for land to accommodate an electricity substation, but applications to connect the project to the transmission network have yet to be filed.
The development comes as MP Fotini Tsiridou has raised concerns over delays, warning that further setbacks could jeopardise the country’s ability to secure European financing.
The figures showed that the total value of bounced cheques increased by 30.8 per cent year-on-year, while the number of cases also rose from August, when 27 cheques worth €27,092 were recorded.
In particular, the value of bounced cheques in September was more than three times the August figure.
According to the central bank, the September cases were recorded on the preliminary list of the Central Information Register (CIR) for issuers of bounced cheques.
Speaking at a conference entitled ‘Women in rural areas: challenges and opportunities’ in Kyperounta, Christodoulou said “women had long played an important role in agriculture, livestock farming, family businesses and agritourism, although their contribution had not always received sufficient recognition.”
However, she stressed that “limited access to services, infrastructure, finance and professional networks, combined with family responsibilities, continued to restrict women’s opportunities to establish businesses, develop careers and participate in decision-making.”
She also warned that these barriers affected not only individual women but the wider economic prospects of rural communities.
The initiative, organised by the Employers and Industrialists Federation (Oev) in cooperation with the German-Hellenic Chamber of Industry and Commerce, brings together German companies and Cypriot businesses and organisations for dozens of targeted business-to-business (B2B) meetings.
The meetings began on October 13 and will continue until October 16, 2026, at Oev’s offices, with discussions focusing on energy management, electricity infrastructure and opportunities for commercial cooperation.
As part of the visit, Oev also hosted a roundtable discussion bringing together representatives of the German delegation and key stakeholders from Cyprus’ energy sector.
The programme, titled “Innovative AI Methodologies for Digital Transformation and Strategic Development”, will be held at Keve’s building in Nicosia and will be taught in Greek from 8.45am to 4.45pm on both days.
The training will be fully subsidised by the Human Resource Development Authority of Cyprus (Anad), allowing eligible participants to attend without paying the programme’s training costs.
The programme will be delivered by Michalis Agathocleous and is intended for business directors, general managers and senior executives, as well as managers and specialist staff working in information technology, data management, information services, finance, human resources, marketing, digital transformation, strategy, operations and environmental, social and governance (ESG) functions.