Cyprus Secures Another High-Profile Production

Oscar-nominated British actor Clive Owen is filming Scorpion in Cyprus, a new action thriller from Copper Island that is understood to have one of the highest daily production budgets ever recorded for a film shoot on the island.

Filming began in Cyprus on July 6 and is scheduled to conclude later this month in Bulgaria. The production marks another high-profile international project to choose Cyprus as a filming location.

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A Cast Built For International Sales

Alongside Owen, the film stars Alex Pettyfer (Magic Mike, The Butler, The Ministry of Ungentlemanly Warfare) and Reda Elazouar (Sex Education, The Family Plan). The cast also includes Ronan Summers, Jake Ryan, Mark Rhino Smith, Joey Ansah, Alex Cooke and Luke Bouchier.

The screenplay is by Richard Hughes and Bennett Fisher. Copper Island’s Matt Murphy, David Mansfield and Luke Bouchier are producing, while WestEnd Films is handling international sales. The company is expected to present the first footage at the Toronto International Film Festival in September.

A Survival Thriller

Scorpion follows Jason, a rookie police officer assigned to an elite special operations unit made up of Afghanistan war veterans. After arriving at an isolated farmhouse, the team is cut off from the outside world and given an ultimatum: every 30 minutes one member will die unless someone reveals the truth about a covert military operation carried out years earlier.

Cyprus’ Role In The Production

The production credited the Cyprus Film Commission for its support, with Copper Island founder Matt Murphy thanking both the commission and the local crew.

Owen also praised the experience of filming in Cyprus, describing the local crew as highly professional and highlighting the island’s diverse filming locations.

Copper Island Expands Its International Portfolio

Limassol-based Copper Island has worked on several international productions, including The Leader, which premiered at Tribeca, as well as Gus Van Sant’s Dead Man’s Wire and Ron Howard’s Eden.

The company is also supporting Cypriot productions, including Apart by Stelana Kliridou and The Well by Marios Piperides, which is completing post-production in Limassol.

Matt Murphy is also serving as executive producer of the upcoming Anxious People, starring Angelina Jolie.

Services production in the euro area rose 0.7% in April 2026 from the previous month, while output across the European Union increased 0.3%, according to Eurostat.

The figures follow gains of 0.1% in the euro area and 0.4% in the EU in March. Compared with April 2025, services production increased 1.8% in both regions.

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Transport And Professional Services Lead Growth

In the euro area, transportation and storage recorded the strongest monthly increase, rising 1.5%. Professional, scientific and technical activities followed with a 1.3% gain, while information and communication increased 0.6% and accommodation and food services edged up 0.1%.

Real estate activities declined 0.2%, while administrative and support services fell 0.3%.

European Union Shows Similar Pattern

Across the EU, transportation and storage increased 1.0%, while professional, scientific and technical activities rose 1.1%. Accommodation and food services declined 0.1%, real estate activities fell 0.6%, and administrative and support services slipped 0.2%.

Member States Show Mixed Results

Belgium recorded the strongest monthly increase in services production at 2.1%, followed by Greece at 1.6% and Bulgaria at 1.5%. Hungary posted the sharpest decline at 13.9%, ahead of Denmark at 3.2% and the Netherlands at 1.9%.

On an annual basis, information and communication recorded the strongest growth in the euro area, rising 5.9%.

Among EU member states, Bulgaria led annual growth with a 9.3% increase, followed by Estonia at 6.4% and Poland at 6.0%. Romania recorded the steepest annual decline at 5.8%, followed by Denmark at 5.3% and Luxembourg at 2.9%.

The Paphos regional tourism board says its summer campaign to attract domestic visitors is gaining momentum, with early results showing strong engagement across Cyprus.

Digital Campaign Delivers Broad Reach

Etap Paphos said the campaign encourages Cyprus residents to choose the district for their summer holidays, alongside a separate promotion focused on Polis Chrysochous and the Akamas region.

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The campaign uses targeted advertising on Facebook and Instagram, supported by promotional videos, photography, online competitions and prize draws.

According to the board, the campaign has generated more than 4.3 million impressions, reaching more than 530,000 people and recording over 200,000 engagements. Direct interaction with promotional content exceeded 40,500 engagements, while competitions and prize draws attracted more than 50,000 interactions.

Supporting Domestic Tourism

Etap Paphos president Michalis Mitas said the campaign places greater emphasis on domestic tourism to help offset weaker demand from some foreign markets caused by geopolitical and economic conditions while supporting local small and medium-sized businesses.

He added that Paphos offers an affordable holiday alternative as air travel costs continue to rise. “We invite our fellow citizens to visit Paphos and rediscover the hidden beauties of our island,” Mitas said.

Eurobank has launched its first cross-border payment from Greece to India through the Unified Payments Interface (UPI), marking a new step in the bank’s international expansion and its strategy to strengthen financial ties between Europe and India.

The transaction, completed in cooperation with NPCI International, follows the launch of Eurobank’s new payment service. The inaugural payment was made in the presence of India’s Commerce and Industry Minister Piyush Goyal, Eurobank Chief Executive Fokion Karavias and senior executives from NPCI International.

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A Strategic Bet On India’s Digital Payments Ecosystem

According to Eleftherios Vlachogiannis, Eurobank’s head of transaction banking, the service currently supports outgoing payments by Indian citizens living in Greece to recipients in India, representing the first phase of a broader collaboration with NPCI International.

UPI is operated by NPCI International. By integrating the system into its e-banking platform and mobile app, Eurobank enables customers to make real-time transfers.

“The most important aspect is the philosophy behind the initiative,” Vlachogiannis said. “Instead of creating another closed payment system, we are integrating mature and internationally recognised payment ecosystems into the bank’s services so customers enjoy a simple, secure and modern transaction experience.”

He added: “Innovation creates value when it delivers a genuine benefit for the customer.”

Building A Financial Bridge Between Europe And India

The UPI launch follows Eurobank’s opening of a representative office in Mumbai, making it the first Greek and Cypriot bank with a physical presence in India. The bank has also expanded its presence through the India-Greece-Cyprus Business and Investment Council, a technology centre in Pune and partnerships with Indian institutions.

Vlachogiannis said India’s economic growth and closer ties with the European Union support the bank’s long-term strategy. He also pointed to progress in negotiations on the EU-India Free Trade Agreement.

Mumbai Office Serves As A Regional Business Hub

Eurobank’s Mumbai office supports businesses seeking to establish operations between India, Greece, Cyprus and the wider European market. It provides access to banking services, business networks and market support.

For Greek companies expanding into India, the bank offers international payments, foreign exchange management, trade finance and supply chain finance. Indian businesses investing in Greece, Cyprus or elsewhere in the European Union can also access financing and corporate banking services through Eurobank.

Aiming To Strengthen The India-Europe Corridor

Looking ahead, Eurobank said it will continue investing in technology, international payments, trade finance and partnerships with Indian organisations.

“Our ambition is to act not only as a banking services provider but also as a strategic partner for businesses and investors seeking to benefit from the opportunities created by this dynamic market,” Vlachogiannis said.

Cyprus is seeking to turn economic resilience, political stability and expanding international ties into stronger foreign investment, President Nikos Christodoulides said as seven companies were recognised at the 14th Invest Cyprus International Investment Awards.

The ceremony, held at the Hilton Nicosia, honoured Hartmann Group, Accor, Kraken, a Payward company, SayGames, Reconiq Software Ltd, a member of the Plath Group, Coral S.A. – Coral Cyprus and Premium Access Cyprus.

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Stability As An Investment Proposition

Addressing investors, Christodoulides said Cyprus is positioning itself around “stability, perspective, development and security,” arguing that investment decisions depend on confidence in a country’s institutions, people and long-term prospects. He said the government’s newly launched national promotion strategy presents Cyprus as “a stable European state with a global orientation” and a European business hub with international reach.

The president highlighted stronger economic growth, solid public finances, lower public debt and Cyprus’ return to an “A” investment-grade rating for the first time since 2011. He also pointed to full employment for the first time since 2008. Christodoulides said Cyprus must continue modernising the public sector, simplifying procedures and accelerating digital transformation.

Foreign Policy As An Economic Tool

The president also linked the country’s investment agenda to foreign policy. Following his state visit to India, he said opportunities were emerging in technology, financial services, shipping, education, energy, tourism, supply chains and trade.

He described Cyprus as “a reliable European gateway for Indian businesses,” providing access to the European Union as well as the Eastern Mediterranean, the Gulf and North Africa.

Christodoulides added that relations with Kazakhstan were expanding and that a visit to the United States is planned later this year to strengthen economic ties and attract additional investment.

He also highlighted the Minds in Cyprus initiative as part of efforts to attract skilled talent and support a knowledge-based economy.

Business Leaders Call For Continued Reform

Invest Cyprus chairman Evgenios Evgeniou said the companies recognised at the ceremony had contributed to employment, innovation, sector development and Cyprus’ international connectivity.

He said foreign direct investment had helped make technology one of the country’s key growth sectors, while urging continued reforms, including faster digitalisation, judicial reform, less bureaucracy and further investment in infrastructure.

PwC Cyprus chief executive Andreas Yiasemides said Cyprus should prioritise long-term, sustainable and innovative investment rather than focusing solely on volume. He added that continued progress would depend on cooperation between the government, regulators, businesses and the professional services sector.

PepsiCo topped Wall Street’s second-quarter revenue expectations on Thursday, helped by resilient demand for zero-sugar sodas in several of its core markets.

Revenue Growth Outpaces Estimates

The beverage and snacks company reported quarterly revenue of $24.18 billion, up 6.4% from a year earlier and ahead of analysts’ estimate of $23.95 billion, according to LSEG. Core earnings per share rose to $2.20 from $2.12 a year earlier.

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Inflation Continues To Weigh On North America

PepsiCo said pressure on household budgets continued to weigh on its North American business. Organic sales in the company’s North America foods division fell about 2% in the quarter as consumers traded down, bought less or shifted to lower-priced alternatives.

The company has responded by lowering prices on brands including Lay’s and Doritos in North America while expanding smaller pack sizes and lower-cost options.

“Results were tempered in the quarter as US food and beverage category performance moderated with consumer budgets tightening due to rising inflationary pressures,” CEO Ramon Laguarta said in prepared remarks.

Full-Year Outlook Unchanged

PepsiCo maintained its fiscal 2026 guidance, continuing to expect organic revenue growth of 2% to 4% and core constant-currency earnings per share growth of 4% to 6%. Shares rose about 1% in premarket trading.

Cyprus has been named one of the Mediterranean’s most family-friendly islands by National Geographic Traveller, which highlighted its mix of beaches, archaeological sites and protected natural landscapes.

A Family Destination Beyond The Beach

The island was included alongside Majorca, Rhodes, Gozo, Kefalonia, Corsica and Sardinia in a selection of seven Mediterranean destinations recommended for family travel.

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National Geographic identified Paphos as an ideal base for families, citing its combination of beaches, boat trips, ancient Greek and Roman sites and easy access to the coast.

History, Nature And Beach Time

Among the highlights is the UNESCO-listed Tombs of the Kings, where visitors can explore underground chambers carved into rock.

The publication also pointed to Avakas Gorge and Akamas National Forest Park for walking and outdoor activities, while Lara Beach was recognised for its soft sand, clear water and seasonal turtle hatchlings between May and August.

Other Islands On The List

Majorca was recognised for outdoor activities, Rhodes for its villages and watersports, Gozo for its archaeological heritage, Kefalonia for its mountain scenery and coastline, Corsica for its dramatic landscapes, and Sardinia for combining beaches with historical and cultural attractions.

A Broader Trend In Family Travel

According to National Geographic Traveller, the featured destinations offer more than traditional beach holidays, combining outdoor activities, history and cultural experiences for families.

Beer deliveries from Cypriot factories fell 2.7% in June 2026 from a year earlier, as exports declined sharply, according to data published Wednesday by the Statistical Service.

Domestic Market Held Relatively Steady

A total of 4,716,070 litres of beer were delivered in June 2026 across Cyprus, including both the domestic market and exports, down from 4,846,927 litres in June 2025. Deliveries to the domestic market slipped 0.8% year on year to 4,564,749 litres from 4,601,840 litres.

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Exports Took The Sharpest Hit

Beer exports from Cypriot factories fell 38.3% to 151,321 litres from 245,087 litres in June 2025.

Month-on-Month Rebound

Compared with May 2026, total beer deliveries increased 7.4%, or 326,421 litres.

Vehicle registrations in Cyprus rose 13.2% in the first half of 2026, driven by continued growth in hybrid passenger cars.

According to data from the Statistical Service, 29,367 motor vehicles were registered between January and June 2026, up from 25,954 in the corresponding period of 2025. Passenger saloon car registrations increased 13% to 22,597 from 20,004 a year earlier.

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Hybrids Now Command More Than Half Of The Market

Hybrid passenger cars accounted for 51.7% of passenger saloon registrations in the first six months of 2026, up from 43% a year earlier.

Petrol-powered cars accounted for 35.2% of registrations, down from 43.6%, while diesel vehicles declined to 8.2% from 8.6%. Pure electric vehicles represented 4.9% of registrations, compared with 4.8% in the same period of 2025.

New And Used Cars Continue To Shape Demand

Of the 22,597 passenger saloon cars registered during the period, 7,245 were new, and 15,352 were used. Rental car registrations fell 11.8% to 2,487 from 2,820 in the first half of 2025.

Commercial Vehicles And Motorcycles Post Mixed Results

Bus registrations increased to 111 from 78 a year earlier, while goods transport vehicles rose 14.9% to 3,510 from 3,055. Within that category, light trucks increased 12.9% to 2,795, road tractors rose 18.4% to 135, heavy trucks climbed 22.3% to 423, and rental goods transport vehicles increased 31.9% to 157. Motorcycle registrations were mixed. Mopeds below 50cc fell to 77 from 112, while motorcycles above 50cc increased 13.4% to 2,681 from 2,364.

June Growth Held Steady

Total vehicle registrations reached 5,624 in June 2026, up 13.8% from 4,942 in June 2025. Passenger saloon car registrations increased 14.8% to 4,338 from 3,780 a year earlier.

The Cyprus Stock Exchange (CSE) Council has removed the special marking from the shares of Globalwealth Group Plc, which is listed on the Emerging Companies Market, following a review of the company’s annual financial report and the findings of its independent auditor for the fiscal year ended December 31, 2025.

Regulatory Review Concludes With Marking Removal

The exchange said the decision was made in line with paragraph 2.2.7 of Directive KDP 379/2014, as amended, after the conditions that originally led to the imposition of the mark were no longer in place.

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Impact On Trading Tables And Price Bulletins

The removal of the (S) marking will be reflected in the CSE’s trading tables and price bulletins beginning July 13, 2026. For market participants, the move signals the conclusion of a regulatory concern that had previously warranted additional disclosure on the company’s shares.