Capital Maritime Finance has raised €300 million through its stock market debut in Athens, marking Greece’s largest maritime equity offering and the first primary listing of a shipping company exclusively on Euronext Athens.

Strong Investor Demand For Shipping Shares

The initial public offering attracted strong interest from Greek and international investors, with demand exceeding the shares available by 4.34 times, according to Euronext. Shares were priced at €7.50 each, giving the container shipping company a market capitalisation of €1.05 billion on its first day of trading under the ticker CMFC.

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The response highlights investor interest in shipping companies with modern fleets, predictable earnings and long-term charter agreements, which can provide greater revenue visibility in a cyclical industry.

Fleet Expansion Supports Growth Strategy

Capital Maritime Finance currently operates 13 vessels with a combined capacity of 27,891 twenty-foot equivalent units (TEU). A further 23 container ships are under construction and will add 120,874 TEU to its fleet.

Once all vessels have been delivered, the company will operate 36 fully owned container ships, all covered by long-term charter agreements extending to 2038. These contracts provide greater visibility over future revenue, helping mitigate some of the uncertainty associated with fluctuations in vessel values and freight rates.

IPO Increases Share Capital

The offering included the issuance of 40 million new shares, bringing the company’s total share capital to 140 million shares. All shares have been admitted to trading on Euronext Athens.

A Milestone For Greece’s Maritime Market

Capital Maritime Finance chairman Gerasimos Kalogiratos described the strong investor response as “a vote of confidence” in the company’s business model, modern fleet and expansion strategy. He added that the listing “strengthens Greece’s position as a global maritime hub.”

The transaction marks the third shipping company listing on Euronext Athens in 2026 and the 70th listing across Euronext’s markets this year. It also highlights the role of equity markets in financing capital-intensive industries such as shipping.

The Cyprus Stock Exchange (CSE) has approved the listing of €50 million in 13-week government treasury bills following an auction held on October 19. Trading is scheduled to begin on October 23.

Details Of The New Issue

The issue comprises 50,000 treasury bills with a nominal value of €1,000 each. It is the 10th issue in the 2026 series and was issued by the Republic of Cyprus following the auction.

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Listing And Settlement

The CSE approved the listing under Article 58(1) of the Cyprus Securities and Stock Exchange Law. It also authorised the securities’ registration with the Central Depository and Central Registry, in accordance with the legislation governing the exchange’s depository and registry functions.

Trading Terms

The treasury bills will not bear interest. They will trade under code TB13J26 and have the International Securities Identification Number (ISIN) CY0241530811.

Trading will take place on the bond market of the CSE’s regulated market. Both the issue date and the first trading date are set for October 23.

Cyprus’ technology industry is calling for closer cooperation with regulators on cybersecurity and artificial intelligence. The proposals were discussed at a meeting between the Cyprus Information Technology Enterprises Association (CITEA) and Electronic Communications Commissioner Marios Pieris.

The meeting, attended by Assistant Commissioner Georgios Georgiou, focused on joint initiatives to strengthen Cyprus’ digital resilience and help businesses respond to evolving cybersecurity risks and regulatory requirements.

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CITEA was represented by president George Malekkos, vice-president Antonia Michael, board member Nikos Kaisis and director Matina Zisiadou.

Cybersecurity And AI Top The Agenda

Discussions focused on practical cooperation in cybersecurity and artificial intelligence, as well as the relationship between Cyprus’ regulatory framework and the businesses driving digital growth.

CITEA also presented proposals concerning the European Cybersecurity Act, highlighting the need to represent the priorities and concerns of technology companies in wider European policy discussions.

Another key topic was specialised training for CITEA members to help businesses strengthen their expertise in cybersecurity, AI and emerging regulatory requirements.

Exploring Joint Initiatives

The meeting also addressed potential initiatives involving regulators, experts and technology companies. These could provide a structured way to exchange knowledge, identify common challenges and develop responses to issues affecting Cyprus’ digital economy.

Closer coordination could help align regulation with technological developments while giving businesses an opportunity to contribute to discussions shaping the sector.

CITEA Calls For Practical Action

Commenting after the meeting, Malekkos stressed the need for urgent and meaningful cooperation to address the challenges posed by cybersecurity threats and artificial intelligence.

“In today’s digital age, the role of the Commissioner of Electronic Communications and the Authority is more critical than ever. The challenges posed by cybersecurity and artificial intelligence require meaningful cooperation and immediate, practical action,” he said.

Malekkos welcomed Pieris’ response to the association’s proposals, describing the discussion as constructive and focused on practical steps.

“What particularly impressed me about today’s meeting was the new Commissioner’s pragmatic approach and positive response to our proposals. We discussed specific ideas, exchanged views, and established that there is a genuine willingness to move forward together,” he said.

He added that CITEA was ready to deepen its engagement through joint workshops, training and knowledge-sharing initiatives designed to deliver tangible benefits for businesses and the Cypriot economy.

Strengthening Public-Private Cooperation

CITEA said it would continue working with institutional stakeholders and relevant authorities on cybersecurity, artificial intelligence and Cyprus’ digital transformation.

The meeting reflects efforts to strengthen coordination between regulators and industry as cyber risks evolve and AI becomes more widely integrated into business operations.

Eurobank is considering opening a representative office in Tel Aviv to strengthen its support for Israeli businesses and investors seeking opportunities in European markets, as Cyprus continues to develop its role as a regional business and investment hub.

The possibility was raised at the 8th Cyprus-Israel Business & Investment Summit, held in Tel Aviv this week with Eurobank’s participation and support. The event brought together entrepreneurs, investors and institutional representatives from both countries to discuss cooperation across trade, investment, energy, tourism, services, technology and innovation.

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Strengthening Cyprus-Israel Economic Ties

Eurobank Deputy CEO Andreas Petsas attended the summit, while Senior General Manager Stefanos Kassianides addressed participants on the strategic importance of closer economic ties between Cyprus and Israel.

Kassianides said the countries could use their complementary strengths to serve as a bridge between Europe and the wider region. He also highlighted opportunities for businesses, investors and financial institutions arising from stronger regional connectivity and initiatives such as the India-Middle East-Europe Economic Corridor (IMEC).

“The business relationship between Cyprus and Israel has strengthened significantly in recent years, based not only on the geographical proximity of the two countries but also on the strong economic, commercial and institutional ties that connect them,” Kassianides said.

He added that “the complementary strengths of the two economies create strong prospects for even closer cooperation between their business communities, while Cyprus serves as a natural gateway to the European Union and the wider region.”

Eurobank Explores Expansion In Israel

Against this backdrop, Kassianides outlined Eurobank Group’s international presence and expansion strategy, confirming that the bank is exploring the possibility of establishing a representative office in Tel Aviv.

The office could strengthen Eurobank’s ability to support Israeli companies and investors pursuing international growth, particularly their expansion into European markets.

Cyprus Highlights Its Financial Services Sector

Cyprus’ banking and investment sector was another focus of the summit. Panayiotis Chrysostomou, Eurobank’s manager of banking services and representative offices, took part in a panel discussion on the country’s financial services landscape.

Chrysostomou highlighted Cyprus’ advantages and the role of its financial institutions in supporting Israeli businesses and investors entering European markets.

“The role played by Cyprus’ financial institutions and banks, as stable and financially sound partners of Israeli businesses and investors, is of central importance to successfully capitalising on the prospects arising from their expansion into the European Union market, as well as the opportunities within the broader economic corridor connecting Asia and the Middle East with Europe, through Israel, Cyprus and Greece,” he said.

Supporting Diplomatic And Business Relations

Eurobank also supported a reception hosted by Cyprus’ ambassador to Israel, Cornelius Corneliou, marking the 66th anniversary of the independence of the Republic of Cyprus.

The bank said its participation reflected its continued commitment to strengthening ties between the Cypriot business community and international investment institutions.

Netflix shares fell more than 5% on Tuesday after the streaming giant’s latest quarterly results failed to ease investor concerns about slowing audience engagement and decelerating revenue growth.

Investor Focus Shifts From Profitability To Momentum

In a letter to shareholders, Netflix acknowledged concerns about growth in viewing hours, one of its key engagement metrics. “We know there’s some investor concern about our view hours growth,” the company said, adding that it remained “confident” it could accelerate the trend.

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Despite its strong profitability, Netflix has struggled to consistently meet market expectations in recent quarters as competition intensifies across streaming, gaming and live sports. John Belton, portfolio manager at Gabelli Funds, said the company “has underperformed significantly over the last 6-12 months,” citing softer engagement, slower revenue growth, a more cautious margin expansion outlook and recent changes in content leadership.

Quarterly Results Beat Estimates, But Questions Remain

For the third quarter ended in September, Netflix reported revenue of $12.87 billion and net income of $3.7 billion, both above analyst expectations, according to FactSet.

The company did not disclose total viewing hours for the quarter but reported that viewing in India increased 24% year on year. In July, Netflix said subscribers had watched 97 billion hours of content in the first half of the year, up 2% from the same period in 2025.

Netflix stopped reporting subscriber totals in early 2025, putting greater emphasis on engagement, monetisation and margin expansion as measures of business performance.

International Markets Outpace U.S. Growth

Netflix highlighted stronger performance across international markets while acknowledging that growth in the United States remains slower than it would like.

“We do need better execution in the US. Our content around the world is largely working,” co-CEO Ted Sarandos said during Tuesday’s analyst call, pointing to growth in engagement, subscribers, revenue and profits across Latin America, Europe and Asia.

“The US is also working. It’s just not growing as fast as it could or as fast as we’d like,” he added.

Workforce Cuts And Leadership Changes Signal A Strategic Shift

Netflix is reportedly planning to cut around 6% of its workforce, equivalent to roughly 1,000 jobs, according to media reports. Seven senior employees overseeing television deals and content were among those affected, The Hollywood Reporter reported last week.

The company has also changed leadership in its content division. CNBC reported that Netflix replaced chief content officer Bela Bajaria, who oversaw hit series including Stranger Things, Bridgerton and Squid Game, as well as the company’s expanding live entertainment business. Former Disney executive Peter Rice has been named the new content chief.

“Peter Rice understands talent relations, and in a competitive market, creative talent have choices of where they want to work,” Sarandos said.

Live Sports, Gaming And Advertising Become Growth Priorities

As competition among streaming platforms intensifies, Netflix is expanding beyond traditional on-demand video. It has moved further into live sports, securing deals to stream major events such as the Olympics and the World Cup, while investing in gaming and shorter-form content. The NFL and WWE are also set to stream live events on the platform.

The strategy reflects the need to attract and retain both paying subscribers and audiences supported by advertising. In the United States, Netflix accounted for 7.8% of streaming television viewership in July, compared with 14.2% for YouTube, which reached a record share for the Google-owned platform, according to Nielsen. The World Cup also contributed to higher overall television viewing that month.

Sarandos nevertheless stressed that traditional entertainment remains central to Netflix’s business. “It’s really important to remember, roughly 95% of our spend and nearly all of our revenue is focused on that core, where we see a long runway for future growth,” he said.

Advertising remains another area where the company is seeking stronger results. Netflix said growth in ad revenue fell short of its internal target for the year.

“We are currently a bit behind our aggressive target for the year. We’re still growing,” co-CEO Greg Peters said. He added that the rollout of new products, including additional ad formats, was helping support growth.

Investors Look For Evidence Of Renewed Growth

Netflix remains highly profitable, but its latest results show that strong earnings alone may not be enough to reassure investors. The market is looking for evidence that the company can accelerate viewing engagement, strengthen advertising revenue and improve its growth trajectory in the United States.

How effectively Netflix delivers on those priorities will be key to restoring investor confidence.

Cyprus welcomed 580,889 tourists in September 2026, the highest number ever recorded for the month and an increase of 1.8% compared with September 2025. However, total arrivals in the first nine months of the year remained 5.6% below the previous year, as the tourism sector continued to recover from geopolitical disruption.

Deputy Minister of Tourism Kostas Koumis described the latest figures as evidence of the sector’s resilience, noting that the gap with 2025 has continued to narrow.

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September Sets A New Benchmark

According to the Statistical Service, tourist arrivals between January and September totalled 3,401,538, down from 3,604,790 in the same period of 2025.

Despite the decline, Koumis said the result was the second-highest nine-month total in the history of Cypriot tourism. Arrivals were 4.1% higher than in 2024 and 8.3% above the level recorded in 2023.

United Kingdom Remains The Leading Market

The UK remained Cyprus’ largest source market in September, accounting for nearly one-third of all arrivals. Israel ranked second, followed by Poland.

The main source markets were:

• United Kingdom: 184,345 arrivals (31.7%)
• Israel: 105,249 (18.1%)
• Poland: 41,636 (7.2%)
• Germany: 30,362 (5.2%)
• Greece: 19,995 (3.4%)
• Sweden: 18,656 (3.2%)

Tourism Sector Recovers From March Disruption

Koumis described the latest results as showing “very promising momentum”, crediting the wider tourism sector with responding effectively to the challenges it faced in March. At the time, geopolitical tensions in the Middle East and the negative publicity that followed threatened travel demand.

The immediate priority was to protect existing tourism programmes and maintain relationships with strategic partners, he said.

“We essentially invested once again in our country’s strategic partners and adjusted our planning in response to geopolitical developments,” Koumis said.

Six months later, he added, the figures point to a recovering and resilient sector, with the year-on-year gap continuing to narrow.

Preparations For 2027 Are Underway

Planning for the 2027 tourism programme has been underway for months, with the aim of sustaining growth and recovering markets affected by external shocks.

Koumis said the Deputy Ministry was focused on quality-driven and sustainable tourism development, ensuring that the sector’s performance delivers tangible benefits to communities across Cyprus.

Travel By Cyprus Residents Edges Down

Outbound travel by Cyprus residents also declined slightly in September. A total of 165,447 trips were recorded, compared with 166,129 in September 2025, a decrease of 0.4%.

Greece was the leading destination, accounting for 59,422 trips, or 35.9% of the total. The UK followed with 10,755 trips (6.5%), ahead of Italy with 9,227 (5.6%) and Russia with 7,711 (4.7%).

Holidays accounted for 82.9% of trips abroad by Cyprus residents. Business travel represented 14.3%, while studies accounted for 1.5% and other purposes for 1.2%.

A power outage at a Google Cloud data centre near London disrupted services across the UK on Tuesday, affecting banks, businesses and other digital platforms. Google said the incident was caused by a power event at its cloud operations, with full recovery expected by around 1300 GMT.

The disruption began at 0608 GMT and affected Google Cloud services in the europe-west2 region, which is hosted in London. In an initial update, the company reported elevated error rates and intermittent network failures across multiple services as engineers worked to restore operations.

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Banking Services Hit By The Disruption

Revolut was among the most visibly affected companies, with customers reporting problems with ATM withdrawals, bank transfers and card top-ups. A source close to the matter linked the issues to the Google Cloud outage.

Traditional banks also reported disruptions. Lloyds said some customers were experiencing problems with its app and online banking, while HSBC confirmed difficulties accessing its services. HSBC added that it was monitoring the situation and noted that other organisations were affected as well.

Disruption Spreads Beyond Finance

Downdetector, which tracks online service disruptions, recorded hundreds of reports involving other businesses, including property website Rightmove and the Royal Mail postal service. The reports suggested that the outage was affecting multiple parts of the UK’s digital economy.

The incident highlights the risks facing businesses that depend on shared cloud infrastructure. Even a temporary failure at a single provider can disrupt services across several sectors, from banking and payments to logistics and consumer platforms.

Companies Reassure Customers

Revolut said it had been working to resolve the issue since it was identified and apologised to affected customers. The company also confirmed that customers’ money and data remained safe.

As cloud platforms underpin an increasing share of digital commerce, the outage illustrates how disruptions to critical infrastructure can spread far beyond the provider itself, affecting businesses and customers across the economy.

Bookings for Cyprus in 2027 through Britain’s three largest tour operators are running 20% to 30% below last year’s levels, raising concerns about the island’s tourism outlook despite signs of stabilisation following a difficult summer.

Evripides Loizides, president of the Paphos Hotels Association, said on Tuesday that Cyprus needed to strengthen its international promotion as growing competition and continued uncertainty influenced holiday decisions.

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Summer Recovery Fails To Offset Earlier Losses

Loizides said the 2026 summer season began strongly before conflict and its wider economic consequences disrupted demand. Hotels subsequently suffered significant losses, with occupancy across the three summer months and September ending approximately 7% below the same period in 2025.

The sector is also facing pressure from the expansion of short-term holiday rentals and accommodation in the occupied area, which Loizides said was eroding the market share of established hotels.

September performed somewhat better than a year earlier, while October also showed encouraging signs. However, the outlook for the coming months remains uncertain.

Britain Remains A Key Market

Tourist activity in Cyprus typically begins to slow after November 10, according to Loizides, with demand declining sharply during the winter season.

The UK remains a particular concern as Cyprus’ largest source market. Economic uncertainty and higher living costs are weighing on British households’ discretionary spending, potentially affecting their holiday plans.

Poland continues to be an important market for Paphos, while arrivals from Israel have also supported tourism this year. However, Loizides noted that demand from Israel remains closely linked to developments and stability in the country.

September Arrivals Rise, But Year-To-Date Figures Remain Lower

Official figures show that Cyprus welcomed 580,889 tourists in September, up 1.8% year on year. British visitors accounted for 184,345 arrivals, or 31.7% of the total, while Israel ranked second with 105,249 visitors, representing 18.1%.

Despite September’s growth, arrivals between January and September reached approximately 3.4 million, down 5.6% from the same period in 2025.

Tourism Deputy Minister Kostas Koumis said on Monday that preparations for 2027 were already under way, with a focus on recovering markets affected by external shocks.

Tourism Promotion Must Start Early

Loizides argued that Cyprus needed to act before the next booking cycle gathers pace. Most reservations are made between January and March, making early promotion in key source markets particularly important.

He called for closer coordination between the Deputy Ministry of Tourism, tourism organisations and airlines, emphasising the state’s role in promoting Cyprus internationally.

The deputy ministry’s 2027 budget allocates €26.9 million to tourism promotion campaigns, slightly below the €27.7 million allocated for 2026.

Rising Costs Add To Industry Pressures

Beyond weaker bookings, hotels are contending with higher operating costs, staff shortages during the summer and uncertainty linked to international developments.

With early bookings from the UK already trailing last year, Cyprus faces the challenge of turning its recent improvement in arrivals into sustained demand for 2027. The response will depend in part on how effectively the island promotes itself in key markets before travellers finalise their holiday plans.

Ryanair is cutting 20 routes and more than one million seats from its Belgian winter 2026 schedule, citing higher aviation taxes and rising fuel costs. The airline said it would reduce its fleet by six aircraft across Brussels Charleroi and Brussels Zaventem, representing a $600 million reduction in investment.

At the centre of the dispute is Belgium’s planned aviation tax increase, from €2 per ticket in January 2025 to €7 in January 2027. Ryanair argues that higher charges will make the country less competitive than European markets with lower operating costs.

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O’Leary Warns Of Higher Fares In 2027

Ryanair chief executive Michael O’Leary has also warned that airfares could rise significantly next year as the airline’s existing fuel price protection expires.

“We guarantee no fuel surcharges, but there is no doubt that air fares are going to rise significantly in 2027 because of much higher oil prices,” O’Leary told Euronews.

The airline has secured fuel prices at approximately $67 per barrel for 2026 through advance pricing agreements. O’Leary expects costs to roughly double next year as that protection ends.

Oil prices have risen amid the war in the Middle East and concerns over supply routes through the Persian Gulf. Brent crude closed at $109.86 per barrel on Friday, its highest level since May, before moving above $110, according to the report.

Belgium Faces Pressure Over Aviation Taxes

O’Leary argues that aviation taxes do more than increase airline costs: they can also redirect passenger traffic, investment and tourism towards countries with lower charges.

“The Belgian government is doing exactly the opposite,” he said, warning that the planned increase could discourage investment, reduce passenger numbers, hurt tourism and cost jobs.

Ryanair said it had already redirected six aircraft, more than one million seats and 20 routes away from Belgium for winter 2026. The airline warned that further cuts could follow if the tax remains unchanged.

It also criticised the EU emissions trading system, arguing that it raises the cost of intra-EU flights while flights to destinations outside the bloc do not face the same burden. O’Leary called for Belgium to abolish aviation taxes, saying higher charges would shift demand and tourism towards more competitively priced destinations elsewhere in Europe.

Airlines Face Wider Cost Pressures

Belgium’s planned tax increase was reduced from an earlier proposal to charge €10 per ticket following industry pressure. Ryanair maintains, however, that the revised rate remains too high.

The capacity cuts come as other airlines also adjust their schedules amid challenging market conditions. Sweden’s SAS and easyJet have both reduced flights this year.

Ryanair is urging the Belgian government to reconsider the tax, warning that maintaining higher charges could further weaken the country’s aviation market.

Cyprus is sharpening its position on the European chess map, with the island’s rising profile now drawing attention at the highest levels of the sport.

Fide Leadership Backs Cyprus’ Chess Ambitions

International Chess Federation (FIDE) president Timur Turlov, who also leads Freedom Holding Corp and Freedom24, met President Nikos Christodoulides at the Presidential Palace in Nicosia on Monday to discuss the future of chess development in Cyprus. The talks centered on the island’s growing importance in European chess and the momentum built since Freedom became general partner of the Cyprus Chess Federation in 2023.

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“In three years, Cyprus has become one of Europe’s chess hubs, and we want to keep building on that,” Turlov said. “It was important for us to present our plans for chess on the island to the President, and we are grateful for his time and attention to the game.”

A Broader Strategy For Growth

Turlov was elected FIDE president on September 26 at the federation’s congress in Samarkand. His 2027–2030 programme calls for roughly €30 million in funding over four years to support global chess development, including an annual development fund of €6.2 million, nearly four times the current budget.

The proposed funding is designed to expand competition opportunities, strengthen youth development, improve chess education, support coaches and arbiters, accelerate digital tools, and promote women’s chess.

Cyprus Has Become A Proven Host For Major Events

Since Freedom became the federation’s general partner in 2023, Cyprus has hosted 26 tournaments, including stages of the FIDE Women’s World Grand Prix in Nicosia in 2023 and 2025. The island also welcomed the 2026 Candidates Tournament, which featured a €1 million prize fund and brought top international players to Cap St Georges Hotel and Resort.

For Cyprus, that event carried symbolic weight. It was the first time in the country’s chess history that the world’s leading contenders had competed on the island, underscoring its emergence as a credible destination for elite international chess.

Building A Pipeline For The Next Generation

The local ecosystem is also expanding at the grassroots level. The Freedom24 Chess Academy opened in Limassol on March 1, 2025, under the leadership of International Master Artem Sadovsky. Its mission is to develop competitive players capable of representing Cyprus on the international stage.

According to the Cyprus Chess Federation, around 2,000 people in Cyprus now play chess actively, most of them children. That matters: a sustainable chess economy, like any successful sports ecosystem, depends not only on marquee tournaments but also on a steady pipeline of young talent, coaching infrastructure and institutional support.

As Cyprus continues to invest in the game, it is increasingly positioning itself not just as a host nation, but as a serious contributor to the future of European chess.