Well-known pizza chain Pizza Fan was boasting that “everything was Greek.” Allegedly everything was Greek including the fraud scheme that cost the state 25 million euros in Value Added Tax. On Thursday, teams of the Greek Directorate for Combating Organized Crime raided the headquarters of Pizza Fan, an unknown number of its affiliates stores, houses […]
On October 21, the Financial Timesreported that Benjamin Netanyahu had instructed his military to prepare a multi-day bombing campaign against Iran for the weekend of October 10—only for Donald Trump to block it until after the November 3 midterms . The operation would have targeted electricity plants, nuclear facilities, and regime sites, surpassing the intensity of the joint offensive launched in February. Trump’s opposition did not end the war. It rescheduled it.
That distinction is the entire story. The veto is being presented as proof that Washington can restrain Jerusalem. In reality, it is a demonstration of an alliance leash—a tether that permits tactical friction while leaving the strategic architecture of the war untouched. Trump can pull the leash to protect Republican seats. Netanyahu can pull it to protect Likud seats. Neither pull ends the war. Both manage the calendar.
The FT report is clear that the operation was not cancelled, only deferred. “There will either be a deal or an attack,” one person familiar with the matter said. US Defense Secretary Pete Hegseth traveled to Israel on Monday to meet Netanyahu, and Israeli officials presented an updated target bank that included civilian infrastructure not struck earlier in the year. The machinery of escalation remains fully assembled. The only variable that changed was the date.
The strongest defense of the White House is that Trump’s veto proves American primacy. If Washington can tell Jerusalem no, the argument goes, the leash is in American hands. But this confuses a pause with a strategy. The veto covered only the period before November 3. It did not define war aims, set an end date, or require congressional authorization. It was a tactical deferral, not a strategic reversal.
The midterms themselves are a powerless-ballot exercise in war governance. Voters are being told the election is about affordability. They are not wrong. Gasoline has reached $4.28 a gallon, $1.20 higher than a year ago, and half of registered voters name the cost of living as their top concern . Trump’s approval sits at a record-low 31%. But neither party is offering a vote on whether the war should continue, expand, or end. The ballot ratifies a choice between managers of a war that was never put to a vote.
Congress has tried to assert itself. The House has passed war powers resolutions three times, and the Senate approved one on its tenth attempt—only for Republican senators to reverse course the next day after Trump berated them.
The cost of the conflict has reached at least $38 billion, with the Congressional Budget Office estimating an additional $3 billion for every month it continues. The stockpile of interceptor missiles is so depleted that rebuilding it could take five years. None of this has produced a binding vote to end the war. The legislature has rendered itself a spectator.
Netanyahu’s own calendar is just as cynical. Israel votes on October 27. Netanyahu has said a preemptive strike before the election would be “inconvenient”. Israeli commentators have reported that he fears a military campaign in the final stretch could cost Likud power. The alliance leash runs in both directions. Washington pulls it to protect Republican seats. Jerusalem pulls it to protect Likud seats. The war is paused not because either capital has decided it should end, but because both leaders have decided the timing is wrong for their own electoral survival.
For American voters, the question is not whether Trump can overrule Netanyahu on a given weekend. The question is who decides when the war ends, on what terms, and at what cost.
On the current trajectory, those decisions are being made in confidential channels between two executive offices, insulated from legislative oversight and electoral accountability. The ballot is powerless to alter the war’s direction because the war’s direction was never on the ballot.
The real test comes after both elections. If the deferral becomes a pathway to diplomacy, Trump’s veto will have meant something. If it becomes a pause before a new round of strikes—as the updated target bank suggests—then the only thing that changed was the calendar. Independence is not the ability to delay a war. It is the ability to end one on terms you can defend.
The US-Israeli war on Iran has caused an “unprecedented” shock to global energy markets, removing some 3 billion barrels of oil supply, Saudi Aramco CEO Amin Nasser has warned.
The war launched in February effectively shut the Strait of Hormuz, a crucial oil and LNG artery, sending crude prices up roughly 50%. Despite Gulf exports recovering to a reported 80% of pre-war levels, renewed attacks on vessels have kept markets on edge, with Brent hitting a five-month high above $112 this week. Houthi attacks on Saudi energy infrastructure and shipping have compounded the crisis, threatening another vital trade chokepoint, the Red Sea’s Bab el-Mandeb Strait.
In an interview with Al Arabiya Business aired on Thursday, Nasser said the nearly eight-month crisis had deprived global markets of an estimated 3 billion barrels of oil.
“The impact of this crisis on energy markets is unprecedented,” he said. “We have lost around 3 billion barrels since it began. And bear in mind that the Gulf accounts for roughly 20% of global oil demand.”
The figure is equivalent to nearly a month of global oil consumption and reflects cumulative supply losses caused by disrupted shipping, reduced production and logistical bottlenecks.
With global oil inventories already below their five-year average when the war erupted, prices could have soared past $200 a barrel, Nasser warned. He credited emergency reserve releases, China’s sharp cut in seaborne oil imports and Saudi Aramco’s East-West pipeline, which bypasses Hormuz, with averting an even more severe price shock.
Nasser warned, however, that even an end to the crisis could bring fresh pressure on oil markets, as recovering consumption and a rush to replenish depleted reserves will likely fuel another demand surge.
“Once things return to normal, we expect additional demand of around 3 million barrels per day – about 2 million from consumption growth and another 1 million just to replenish the reserves countries have drawn down during the crisis,” he said, noting that the added demand could keep markets under strain long after shipping routes reopen.
Fresh escalation fears
Meanwhile, fears of another escalation are growing as US-Iran talks remain deadlocked. Reports on Wednesday claimed Washington was quietly pulling troops from bases in Jordan, Qatar and Kuwait, evacuating some diplomats and their families from Saudi Arabia and preparing similar withdrawals elsewhere. Similar precautions were taken ahead of the US-Israeli strikes on Iran on February 28.
The moves follow US President Donald Trump’s rejection last month of Tehran’s proposal to reopen Hormuz in exchange for lifting the US blockade of Iranian ports, easing oil export restrictions, unfreezing Iranian assets and ending regional hostilities, including Israeli operations in Gaza and Lebanon.
Washington and Israel have since reportedly discussed another major offensive, potentially soon after the November 3 US midterms. Israeli Prime Minister Benjamin Netanyahu has also openly threatened fresh strikes on Iran, even without US backing.
FIFA launched an invitation to tender on Thursday for media rights in the United States and Puerto Rico for the 2030 World Cup along with an option to secure the 2034 edition.
FIFA said in a press release that it is open to “innovative approaches” to reach large audiences and that the bid submission deadline is November 19.
Fox held the exclusive English-language broadcast rights in the United States for the 2026 World Cup co-hosted by the US, Canada and Mexico while Telemundo held the Spanish language rights.
Spain, which won the 2026 World Cup, will co-host the 2030 edition with Portugal and Morocco, although Argentina, Paraguay and Uruguay will stage inaugural matches marking the tournament’s 100th anniversary. Saudi Arabia have been named hosts of the 2034 World Cup.
According to FIFA, the 2026 World Cup averaged 13.5 million viewers per match on linear and streaming platforms in the United States, up 166% on the 2022 World Cup in Qatar.
Earlier this week, Netflix announced that it secured the rights to broadcast the 2030 World Cup in Spain and Andorra.
A 44-year-old man has been arrested after being caught attempting to smuggle over 300 kilograms of meat across the Green Line, the Turkish Cypriot police have said.
In total, the man attempted to smuggle 305.4kg of boneless beef and 41kg of lamb tail fat across the Ayios Dhometios crossing point, all of which was seized as evidence.
The police’s investigation into the matter is ongoing.
A new and collaborative exhibition opens in Paphos this week, adding to the city’s cultural agenda. Megadence, as part of Visual Voices’ Vis-à-Vis Nicosia programme, presents the opening of ‘What does not finish disappearing’ on October 23, showcasing works by Marinos Houtris and Ekso.
Hosted at Decade (on 4 Agiou Kendea Street), the exhibition will remain open until November 6 and includes a roundtable conversation with the artists, a journalist and the co-founder of Megadence.
“Through field recordings and documentation of the landscape,” comment the organisers, “the exhibition attends to what becomes perceptible only through disturbance, exposure and transition. Construction sites in Paphos become points of access to infrastructures that are normally buried and to flows that cannot ordinarily be seen or heard.
“By recontextualising what is embedded within the seemingly ordinary and familiar, yet remains imperceptible to the everyday gaze, the exhibition hacks another layer of the city into moments of temporary visibilities. It contemplates what is revealed through these transitional spaces and what remains after they disappear.”
Taking part in this project is Marinos Houtris, who is an artist working across photography, sound and installation. In his practice, he follows things that emerge briefly or remain present without being noticed, attending to the temporary and less visible life of urban space. In recent years, this has taken him beneath the streets of Paphos, following water, pipes, vibrations and the traces left by excavation and repair.
In turn, the second participating artist of the exhibition, Angela Ioannidou, presents Ekso, a collaborative project for critical conversations through artistic and creative practices. Its name, meaning ‘outside’ in Greek, reflects an engagement with Paphos as both a geographical and cultural ‘outside,’ creating space and visibility for perspectives and voices that exist beyond dominant narratives.
A roundtable conversation on 31 October will bring together artists Marinos Houtris, Angela Ioannidou (Ekso), journalist Niki Laou, and Marina Demosthenous, the co-founder of Megadence and moderator of the discussion.
What does not finish disappearing
Collaborative exhibition by Marinos Houtris and Ekso. October 23-November 6. Decade, 4 Agiou Kendea, Paphos. Opening night: 7pm. Thursday-Friday: 5pm-7pm or by appointment. www.megadence.com
In the trial of furloughed Paphos mayor Phedonas Phedonos, the woman accusing him of rape was on Thursday cross-examined by the defendant’s lawyers.
The complainant was being cross-examined for a second consecutive hearing by Phedonos’ attorneys – Christos Pourgourides and Nondas Korakidis.
Earlier, she had testified during two hearings. During her testimony, Phedonos was not in the courtroom, but in an adjacent room in the court complex.
According to media reports, the complainant’s cross-examination is expected to continue at the next hearing before Paphos criminal court – set for October 27.
The trial is taking place behind closed doors.
Phedonos faces five distinct charges: rape; indecent assault against a woman; indecent assault against a woman by another act (meaning non-physical); assault causing actual bodily harm; and administering a drug or substance to another person with the intent of rendering that person unable to resist.
He has pleaded not guilty to all charges.
Once all witnesses for the prosecution have taken the stand, the court will assess the testimony to decide whether a prima facie case has been established against the defendant.
If the court determines that a prima facie case has not been established, it may acquit the defendant at that stage.
If it decides otherwise, Phedonos will be asked to mount his defence – by summoning witnesses. The defendant himself is not legally obliged to take the stand.
Witnesses for the defence may be cross-examined by prosecutors.
Once the defence wraps up, the two sides will deliver their closing arguments.
The court will assess the entirety of the testimony and the evidence, and then deliver a guilty or not-guilty verdict, followed by sentencing in the event of a guilty verdict.
President Nikos Christodoulides has sent a letter to European Commission President Ursula von der Leyen demanding that the European Union resume discussions on its mutual defence clause, after the matter found itself at the centre of discussions when EU leaders met in Cyprus in April, but has since fallen off the agenda.
The sending of the letter was confirmed to the Cyprus Mail by presidential press office director Victor Papadopoulos, though he said he could offer no further details, while news website Politico quoted Christodoulides as having written that “I cannot overstate the importance of this provision for the EU and its member states”.
This, he wrote, rings true “especially in times of geopolitical uncertainty”.
“Given the gravity of the challenges we face, Cyprus would welcome the resumption of discussions at the relevant preparatory bodies. I would therefore appreciate an update on the proposals under consideration, as well as a timeline for next steps,” he wrote.
The leaders of the EU’s 27 member states had during a European Council summit in Nicosia in April resolved to demand the creation of a defence “playbook”, with Cypriot government sources at the time lamenting that “nothing has been done” in the decade since the first and only time that the bloc’s mutual defence clause was activated.
It was France which triggered Article 42.7 of the Treaty of the European Union, better known as the Lisbon Treaty, after Paris was hit by a series of terrorist attacks in November 2015.
Article 42.7 not attached to any formal operational plans
While the text of the treaty states that “if a member state is the victim of armed aggression on its territory, the other member states shall have towards it an obligation of aid and assistance by all the means in their power”, it is not attached to any formal operational plans or international military structures.
Government sources lamented in April that “there is no clear picture of procedures, capabilities, or response times across member states”, and also decried what they described as a lack of clarity regarding the types of support which can be requested, what each member state may provide, and how quickly assistance can be delivered.
They also stressed that if a member state triggers Article 42.7, assistance must not be optional.
“It is a legal obligation, not a political choice,” they said, before adding that “member states cannot question the reasons” behind the triggering of the clause if it is triggered, provided that an armed attack has taken place.
However, in the six months since that summit, the matter of defence has slipped down the European agenda, with the most recent European Council summit, held in Brussels, being dedicated largely to the EU’s multiannual financial framework, its budget for the years between 2028 and 2034, while conversations on defence centred on Ukraine, which remains, for now, outside the bloc.
Focus inside EU has now shifted to multi-year budget
The focus on the budget has come with most leaders across Europe aiming to have the next multiannual financial framework devised and agreed upon by the member states by the end of this year.
Christodoulides had said on this matter last week that should an agreement not be reached by the end of this year, “I believe we would be sending a negative message, not only to European citizens, but to the world”.
Mutual defence was most recently discussed at the European Parliament last month, with the EU’s foreign policy chief Kaja Kallas decrying “Russia’s hybrid warfare in Europe” and calling for measures to be taken against it.
“Putin is a textbook bully. Moscow’s hybrid attacks are designed to intimidate us, paralyse our societies and make us hesitate to act. That is precisely what Putin wants. We should not let fear dictate our choices. We should match the level of these attacks with concrete action and a confident response. Europe’s security requires it and citizens expect it,” she said.
Cypriot MEPs called for stronger Article 42.7, looser relations with Turkey
In response, Cypriot MEP Costas Mavrides, of Diko, said that “hybrid attacks are also taking place for years by the neo-Ottoman Erdogan regime against member states in the eastern Mediterranean” in reference to Turkish President Recep Tayyip Erdogan.
He called for the EU’s mutual defence clause, Article 42.7 of the Treaty of the European Union, which is commonly known as the Lisbon Treaty, to be made “workable and operational”, before telling to Kallas that “your double standard policy is increasing part of the problem” regarding Turkey.
Fellow Cypriot MEP Geadis Geadi, of Elam, also called for the EU to “establish a clear roadmap for activating Article 42.7”, saying that this should “ensure that the mutual defence clause can be applied immediately and effectively”, and also criticised the EU for not treating Turkey and Russia in the same way.
“Mrs Kallas, be careful when you shake hands which are stained with the blood of hundreds and thousands of innocent people,” he said.
Demetra Holdings Plc completed the repurchase of 4,965 of its own shares on October 22, 2026, as part of its ongoing share buyback programme on the Cyprus Stock Exchange (CSE).
The investment firm informed the investing public of the transactions on Thursday, in accordance with the regulatory framework of the CSE and the circulars issued by the Cyprus Securities and Exchange Commission (CySEC).
The acquisition was carried out pursuant to the relevant authorisation granted by the company’s annual general meeting on June 30, 2026.
The company executed the buyback through the Cyprus Investment & Securities Corporation Ltd (CISCO), acquiring the shares at a uniform price of €1.36 per share.
The overall purchase comprised four separate transactions completed during the trading session on October 22, 2026.
The first transaction involved the purchase of 2,961 shares, while a second trade secured an additional 450 shares.
A third minor transaction accounted for 58 shares, alongside a fourth purchase of 1,496 shares, bringing the total daily volume to 4,965 shares.
All transactions were completed at the single price level of €1.36 per share.
British Cypriot businessman John Christodoulou said on Thursday that “my mind is with Disy, but my heart is with Akel” as he kept open the possibility of standing in the 2028 presidential election.
Speaking on Sigma, Christodoulou said the decision was difficult and could be made by early next year.
He said he neither “speaks nor thinks like a politician” and that even close friends had questioned his reasoning for considering giving up his comfortable life.
He cited his experience as a refugee, saying he left Cyprus aged nine and still feels the loss of land that belonged to his parents and grandparents.
He said, “52 years had been lost without a solution and that Turkey must return to the negotiating table”.
“I am a refugee, we need to go back to our homes, we must confront the Turk who stole our land”, he said.
He also conceded within the interview his personal limitations with the Greek language, deferring repeatedly into English and acknowledging a limited vocabulary.
The comments followed an interview on Wednesday with ANT1, in which he said he could not accept that no decision had been reached in over five decades of seeking to solve the Cyprus problem.
Christodoulou confirmed his close personal relationship with Direct Democracy leader Fidias Panayiotou but said he was also in discussions with figures from other parties.
Local media reported that Panayiotou had raised his name with party leaders, including Akel, and received no answer.
Akel secretary general Stefanos Stefanou played down speculation that the party was sounding out candidates.
Direct Democracy is also reportedly in talks with Odysseas Michaelides’ Alma party in regard to a joint candidate.
Christodoulou owns Yianis Group, which holds hotels and flats in Canary Wharf and elsewhere in Britain.
The Sunday Times Rich List 2026 puts his wealth at £2.7 billion.
In Cyprus he is active mainly through the Yianis Christodoulou Foundation, and in 2021 he was reported to be close to a £30 million takeover of Omonia football club, but talks with majority owner Stavros Papastavrou reportedly collapsed.
His British business affairs have drawn scrutiny, for in 2012 hotel companies in the group went into administration, costing him a Manchester Marriott and a Park Inn near Heathrow.
In 2022 he reportedly admitted to a tribunal that residents at 1 West India Quay had been overcharged by 26 per cent on utilities.
In March 2024 the UK government began legal action seeking £20.5 million from his companies towards fixing unsafe blocks at Canary Riverside.
The 52nd Cyprus International Rally takes place this weekend, featuring 30 crews from eight countries. The event is the fifth and final round of the FIA Middle East Rally Championship.
Cyprus’ flagship rally, organised by the Cyprus Automobile Association since 1970, will decide this year’s Middle East Rally Championship title. Among the contenders is Qatar’s Nasser Al-Attiyah, the event’s most successful driver with nine victories. A 20-time champion, most recently in 2025, Al-Attiyah leads the standings with 70 points and will compete in a Škoda Fabia.
Saudi Arabia’s 22-year-old Hamza Bakhashab, driving a Toyota Yaris, is second with 66 points. Qatar’s Nasser Khalifa Al-Atya, driving a Ford Fiesta, has 61 points, while Oman’s 2024 champion Abdullah Al-Rawahi, driving a Škoda Fabia, has 56 points.
Top local crews will also be competing for victory, including multiple-time Cypriot champion Simos Galatariotis in a Škoda Fabia and last year’s Cyprus champion Panagiotis Yiangou in a Hyundai i20.
The ceremonial start will take place today at 18:00 at Europe Square on the Larnaca seafront (Phinikoudes). The finish ceremony will also be held there on Sunday at 17:00, followed by the crowning of the 2026 Middle East Rally Champion. The Service Park is located next to the Mall of Cyprus, opposite the E-CARS showroom, and is open to the public.
The scrutineering took place yesterday This morning, the official shakedown and qualifying stages will be held in Tseri, with qualifying determining the starting order for the first leg of the rally. Tomorrow, the mountain stages at Agios Epifanios, Kapouras and Kourdali will be run twice, once in the morning and again in the afternoon.
On Sunday, the stages at Doryforikos, Vavatsinia and Stavrovouni, near Pyrga, will take place. The second run through Stavrovouni, scheduled for 15:13, will serve as the rally’s Power Stage. The rally covers a total distance of 657.74 km, including 183.92 km across 12 gravel special stages
No timetable has been set for the next stages of the Limassol-Saittas road project, despite the government acknowledging delays and reaffirming that the road remains a priority.
The issue was discussed on Thursday at the House transport committee, where Transport Minister Evie Tsolaki stressed the need for coordination between ministries and government departments, noting that sections of the planned road pass through protected Natura 2000 areas.
The environment department told MPs that it expected to issue its assessment by December.
According to Stockwatch, Tsolaki declined to provide a timetable for the next stages of construction, pending the completion of the necessary environmental studies.
MPs and representatives of Limassol’s mountainous and semi-mountainous communities expressed concern over the delays, warning that inadequate road infrastructure was making commuting difficult, posing safety risks and hampering development in rural areas.
Responding to criticism over the order in which construction had begun, Tsolaki said priority had been given to the most heavily used sections of the road.
She added that the government was dealing with longstanding problems concerning the project that predated its term in office.
Despite assurances from the environment department that its assessment would be ready before the end of the year, Tsolaki did not commit to launching a tender in the first half of 2027.
MPs also raised concerns about funding, seeking assurances that the necessary resources would be available.
The finance ministry said it did not anticipate difficulties in releasing funds, provided the project moved forward.
The commissioner for mountainous areas said the Limassol-Saittas road was included in the national strategy for the development of mountainous communities, as it would improve access and strengthen connections with Limassol.
A representative of the union of communities expressed disappointment over the delays, highlighting the difficulties faced by residents, including traffic congestion and lengthy commuting times.
Meanwhile, a representative of the Troodos community complex described completion of the road as essential for the region’s development, arguing that improved accessibility would help retain the population of mountainous communities.
Disy MPs questioned the reasons for the delays and argued that rural areas contributed more to the economy than they received in public investment.
They stressed that infrastructure projects should not be assessed solely on their economic viability, but should also take into account the needs of local communities.
MPs also questioned the effectiveness of coordination between the ministries involved.
Akel MPs challenged the reliability of government timetables, pointing out that residents of mountainous communities faced disproportionately high commuting costs because of long travelling distances and rising fuel prices.
They said a 3.5km section had saved commuters ten minutes and called on the finance ministry to commit to releasing funds.
Road safety was another concern raised during the discussion, with MPs saying nine people had lost their lives in accidents on the road.
Elam argued that Limassol was lagging behind in major public infrastructure projects despite its strong economic activity and private sector performance.
Direct Democracy, meanwhile, warned that it would not vote in favour of the budget unless the Limassol-Saittas road project was included.
The issue is expected to be discussed again at the House transport committee’s next meeting.
Hadassah Medical Centre Limassol said on Thursday that it operates legally with the required licences and has never performed plasmapheresis on a patient.
In a statement, the centre said an earlier report made by Politis gave “misleading impressions that require immediate correction”.
It denied that specific complaint was pending, and it had not been informed of any finding that questioned its current operation.
Politis had reported that the health ministry was examining new complaints and that the centre holds only an imaging centre licence.
Deputy permanent secretary Elisavet Constantinou told the paper it has no hospital licence or other licence to operate as a healthcare facility, though Politis clarified that this in itself did not make any other activity unlawful.
Hadassah said a separate medical centre licence is not required for its current activities beyond professional and individual requirements, and that the licence for its radiology department had been secured.
It said a possible upgrade to a day care unit would be a separate licensing process and did not mean it was waiting for a licence for its current services.
On plasmapheresis, Politis reported that ministry inspectors had found the equipment during an inspection.
Hadassah said the equipment “was not concealed” and that a list naming the plasmapheresis system and an ozone therapy unit was sent to the ministry on August 26 as part of the final file for the imaging centre licence.
“The purchase of equipment for a planned service does not constitute proof that the service was provided,” it said.
Politis had also pointed out that only three doctors appear on the centre’s website.
Hadassah said it had already given the paper a list of 15 doctors and two clinical dietitians, and that it employs five licensed nurses and seven physical therapy and exercise professionals.
A further 15 doctors are under discussion with Hadassah but have not been announced as according to the centre “approvals are incomplete”, and it is not presenting them yet as partners.
Politis reported that some examinations or treatments may have involved doctors in Israel taking part by telephone or video link, a claim it said had not been independently verified.
Hadassah called this a misrepresentation of its second opinion service, expanding that the local doctor reviews the file and, if a second opinion is warranted and the patient agrees, prepares a report with specific clinical questions for a specialist at Hadassah in Jerusalem.
The process “does not involve tele-guidance” of a procedure in Cyprus by a doctor in Israel, it insisted.
Chief executive Dr George Zachariadis had earlier given Politis no direct answer on teleconference participation.
The centre said it “accepts the audit and responds with evidence” but would not tolerate publications that harm its reputation through “inaccuracies and insinuations”.
The centre, based in Ayios Tychonas, has no operating theatres or inpatient beds and advertises its offering being imaging, cardiac assessment, neurological rehabilitation and physiotherapy.
In Israel, news outlet Calcalist reported that the health and finance ministries were not informed of the project beforehand.
Hadassah said it “did not invest a single shekel” in the centre, which is financed by Cypriot investors.
From November 21, all referrals from Cyprus to Hadassah in Jerusalem will go through Limassol.
The Cyprus Mail approached the Hadassah medical centre, as well as both the Cypriot and Israeli health ministries for comment.
Lordos United Public Ltd has completed the €8.16 million acquisition of a 51 per cent stake in P&S Carton Industries Ltd, following regulatory approval, bringing the Cypriot cardboard packaging manufacturer under its control.
The company announced on Thursday that it had acquired 35,700 shares in P&S Carton in accordance with the share purchase agreement signed on July 10, 2026.
The transaction was completed after the Commission for the Protection of Competition approved the deal, finding that the concentration was compatible with the functioning of competition in the market.
Following completion, P&S Carton has become a subsidiary of Lordos United, while the sellers retain a combined 49 per cent shareholding.
The acquisition marks Lordos United’s entry into Cyprus’ corrugated cardboard packaging sector, expanding its activities beyond its existing plastics manufacturing and packaging operations.
P&S Carton manufactures and sells corrugated cardboard boxes and packaging solutions to businesses across a range of industries, including food and beverages, agriculture, pharmaceuticals and consumer goods.
Founded in Cyprus in 1991, the company was described as the country’s only domestic manufacturer of corrugated cardboard boxes, supplying approximately 60 per cent of local demand, with the remainder covered by imports.
When the deal was announced, Lordos United said the acquisition aligned with its long-term growth strategy and would diversify its product portfolio while creating opportunities to develop integrated packaging solutions.
The company also pointed to potential synergies between the two businesses, including opportunities to serve existing customers across a wider range of packaging products.
Lordos United said planned investment in new machinery during 2027 and 2028 was expected to increase P&S Carton’s production capacity and improve its cost competitiveness.
Based on P&S Carton’s 2025 financial results, Lordos United previously estimated that approximately €11.4 million in annual turnover would be consolidated into its group results from the acquisition date.
It also estimated that its 51 per cent share of EBITDA would amount to approximately €869,248, based on the target company’s 2025 performance.
The acquisition forms part of Lordos United’s broader expansion plans under its new management, which has highlighted growth opportunities through increased production capacity, new packaging solutions and a stronger presence in strategic sectors of the economy.
Customs officers seized 28,000 suspected counterfeit condoms during an inspection of a sea shipment arriving from Greece on Thursday.
The container was selected for scanning and a physical inspection following a risk assessment.
According to customs, the products appeared to infringe the intellectual property rights of a well-known brand, based on the accompanying documents and invoices.
The owner of the company involved reportedly admitted that the condoms were counterfeit.
Procedures for the confiscation and destruction of the products are expected to follow in the coming days.
Customs warned that counterfeit condoms could pose serious health risks, including unwanted pregnancies and the transmission of sexually transmitted infections.
Kanon Ito, the youngest artist at this year’s ArtCargo Festival, is a 12-year-old Japanese slackline champion ranked world No.1 in women’s freestyle tricklining for 2025/2026. She will bring her acrobatic skills to Nicosia this October for three performances and a workshop, as part of the festival’s Youth Programme, alongside a graffiti workshop, local slackliners and DJ sets.
Ito is the first girl to land a Rikuto flip on a slackline, an International Gibbon Pro Rider and the Women’s World Champion at the Trickline World Cup in Munich, Germany.
Performing on a line just a few centimetres wide, Ito will showcase her jumps and aerial tricks, including her signature move, ‘Cannon Ball’. The performances take place on October 24 at 13:00 and 15:00, and October 25 at 17:00, at the square in front of the old Nicosia City Hall, near Eleftheria Square.
Ito will also lead a slackline workshop on October 25 at 13:00, introducing participants to the basics of balance, movement and tricklining at the old Nicosia City Hall.
The performance forms part of the ArtCargo Youth Programme, supported this year by its primary partner, VF Foundation, and the Embassy of Japan in Cyprus. Bringing together sport, circus and street culture, the programme aims to introduce young people in Cyprus to these urban art forms and encourage participation in creative and physical activities.
“Urban spaces belong to everyone, especially the youth,” says the VF Foundation. “Bringing young artists and athletes into public spaces creates opportunities for inspiration and connection. Kanon Ito is an incredible young artist whose skills challenge expectations and inspire people of all generations. We are thrilled to bring her to Cyprus for the first time and grateful to the Embassy of Japan for its support.”
“We are delighted to support Ms Kanon Ito’s participation in Art Cargo in Cyprus,” says the Embassy of Japan.“It is wonderful to welcome such a talented young slackline athlete, bridging the geographical and cultural distance between our two countries. We would like to express our sincere appreciation to the organisers of Art Cargo for making her journey from Japan possible and look forward to witnessing her inspiring performance.” The Youth Programme also features a Spot Tagging workshop led by George Kyrou, in collaboration with Spot Art Supplies, on October 25 at 15:30. Participants will practise creating their tags in notepads using markers designed for tagging. DJ sets and street performances by local slackliners will take place across both days, spreading the celebration of urban street culture.
With the support of Exness and bbf:, all performances and workshops have free admission, giving children, teenagers and audiences of all ages the opportunity to see an internationally recognised young athlete perform live in the heart of Nicosia.
Larnaca interest groups as well as MPs were stunned to hear on Thursday that management of the marina cannot be directly assigned to the Ports Authority, throwing a spanner into redevelopment plans.
Up until now, management of the town’s port and marina, for the purposes of redevelopment, had been understood to be under the Ports Authority (CPA).
But in parliament, it emerged that management of the marina cannot legally be assigned directly to the CPA, as it is the property of the state. As such, said an official from the attorney-general’s office, the only option is to launch an open tender – in which the CPA could bid.
By contrast, the port itself is the property of the CPA, and therefore the authority may continue managing it.
Transport Minister Evi Tsolaki acknowledged the legal quagmire, but assured attendees of the government’s intention to proceed with the project overall.
She recalled that in 2024 the government terminated the €1.2 billion port and marina concession agreement with Kition Ocean Holdings due to the consortium’s failure to renew a mandatory financial letter of guarantee.
A representative of the CPA noted that the road map for the redevelopment concerns both the port and the marina.
Nevertheless, he argued, completing one of the components does not depend on completing the other – suggesting that the planned works for the port could go ahead in the meantime.
Weighing in, the head of the Larnaca district local government organisation (EOA) called for legal clarity on the status of the project.
Angelos Hadjicharalambous said that during a prior meeting with President Nikos Christodoulides and the former transport minister, the government had given the impression it was committed to the project.
Likewise, the deputy mayor of Larnaca complained about the legal confusion, which would create more delays for a project that is hugely significant for the coastal city.
Nikos Gregoriou, a representative of the PEO trade union, said the port must remain under state management, warning against any thoughts at privatisation.
Opposition MPs also asked why the government had not come clean earlier on the legal aspect.
In July this year, the CPA had unveiled a roadmap for a €415 million redevelopment programme for the port and marina envisaging phased investment over the next two decades.
The overall programme extended to 2045, with the master plan expected to be completed by 2029.
The largest component concerns the port, where investment of around €205 million is planned through to 2045.
A further €190 million has been allocated for redevelopment of the marina land and adjacent areas between 2027 and 2036.
The roadmap envisaged hotels, restaurants, office space, recreation facilities and a conference centre, with most commercial projects expected to be undertaken by private investors.
The CPA would undertake responsibility for infrastructure, maintenance and strategic management, while commercial and tourism developments would be financed largely through private investment under the overall planning framework.
According to the roadmap, the strategic objective is to bolster Larnaca’s role in shipping while reconnecting the waterfront through continuous public access between the marina and port.
Earlier this month, Aramco’s chief executive, Amin Nasser, assured the markets that “our system is intact” and that Saudi Arabia could restore its full 12 million barrels a day of capacity within days. It is a comforting message, and Washington, European capitals and oil traders have every reason to want to believe it. It is not true.
Karl Miller has just completed a 37-slide operating assessment of Saudi Arabia’s energy system, covering everything from the oil fields to the fuel depots, as of October 20. I have read it closely. It is the most careful accounting of this damage I have seen, and it is careful in a way that should worry anyone counting on Saudi oil this winter. Miller does not count Houthi boasts, social-media videos or plumes of smoke as damage. He separates confirmed hits from claims, and he refuses to add up the design capacity of every facility that was struck as if it were all offline at once. Even with all of that discipline, the picture is grim.
A quarter of Saudi production is gone
Start with the headline number. In February, before the war, Saudi Arabia produced about 10.88 million barrels of crude a day. In September it was still producing 2.51 million barrels a day less, a drop of 23 percent. In August the shortfall was 4.64 million barrels a day, when output sank to about 6.24 million. From March through September, the Kingdom produced more than 800 million fewer barrels than it would have at its February rate. That is roughly eight days of total world oil consumption that never came out of the ground.
Aramco’s own books say the same thing. In the company’s reported figures, its liquids production fell from 10.56 million barrels a day in the first quarter to 7.57 million in the second, a 28 percent collapse in a single quarter. Natural gas and ethane fell nearly 6 percent. A company whose system was intact does not report numbers like that.
Exports followed production down. In one consistent tracking series, Saudi crude exports fell from 7.27 million barrels a day in February to 3.70 million in August, a 49 percent drop. They recovered to 5.62 million in September, but that is still 23 percent below the pre-war level.
The damage runs through the whole chain
The reason the recovery keeps stalling is that the damage is not in one place. It runs from the wellhead to the gas station.
At the front end, the Abqaiq complex, the plant that conditions most of Saudi Arabia’s light crude before it can be shipped or refined, sustained physical damage in July. In March, some 2 to 2.5 million barrels a day were curtailed across the offshore Safaniya, Marjan, Zuluf and Abu Safa fields. In April, Khurais and Manifa each lost 300,000 barrels a day.
In the middle, five of the Kingdom’s major refineries have been damaged or shut down. Ras Tanura, at 550,000 barrels a day the largest domestic refinery, burned and was shut in March. SATORP in Jubail lost three units in April, restarted at half capacity and was still running at only about 70 percent in May. SAMREF in Yanbu was hit in March. The Riyadh refinery caught fire on October 3. Jazan, a 400,000-barrel-a-day plant designed to turn out 250,000 barrels a day of ultra-low-sulfur diesel, shut down on July 27 after its power plant and tank farm were hit, and Ansar Allah attacks in August and September disrupted every attempt to restart it. Satellite imagery now shows tank damage at Petro Rabigh as well. The Juaymah gas-liquids plant, which feeds Saudi Arabia’s LPG exports, has suffered fires.
At the back end, the system for storing and moving fuel is being picked apart. Imagery of the Abha bulk plant from September 13 shows six tanks apparently destroyed and eight more damaged. A depot near Riyadh’s airport burned on September 19. Jazan’s tank clusters have been hit repeatedly.
And the East-West Pipeline, Saudi Arabia’s only way to move crude to the Red Sea and around a closed Strait of Hormuz, has been hit again and again. In April, 700,000 barrels a day of pumping capacity was knocked out. In September, repeated attacks took out three pumping stations and halted the line until a low-rate restart on September 22. On October 4 and 5, another pumping station near Khurais was reported badly damaged. The energy minister now says the line is running at 5.8 million barrels a day, against a rated 7 million. Even Miller notes that no one outside Aramco is metering the actual flow.
Why repairs don’t stick
Miller’s most important insight is that this is a system, and systems fail at their weakest link. Jazan is the clearest example. Fixing the crude units does no good if the gasification and power plant that run the refinery is still damaged, and fixing the power plant does no good if there are no tanks to put the diesel in. A refinery can be “restarted” on paper and still produce nothing useful. The same logic runs upstream. An oil field with every well intact still has to shut in if the processing plant or pumping station downstream of it is broken.
Every time Aramco gets one link repaired, another one gets hit. That is why restart announcements keep failing to show up in the production numbers.
Saudi Arabia is running out of fuel to sell
The most alarming numbers in Miller’s report are about refined products. By July, the latest month with complete data, Saudi refinery output was down 534,000 barrels a day from February, nearly 18 percent. Diesel output fell 21 percent. Diesel exports fell 47 percent, from 848,000 barrels a day to 446,000. Gasoline exports fell 40 percent.
The Saudis have been covering the gap by draining their tanks. Diesel stocks fell from 25.6 million barrels in February to 16.6 million in July, down 35 percent. Gasoline stocks fell by the same proportion. The world’s largest oil exporter more than doubled its imports of fuel oil, and it is burning more than twice as much crude directly in its power plants as it did in February. Some of that is the summer air-conditioning load, but it is not the behavior of a country with fuel to spare.
Lower stocks mean less cushion for the next attack. And there will be a next attack.
The trap Riyadh is in
Miller’s report spells out one more danger that I have not seen discussed anywhere else. If Saudi Arabia’s export outlets close, its oil has nowhere to go but its own refineries, its own power plants and its storage tanks. In July, domestic refineries and direct burning absorbed about 3.04 million barrels a day. Once the storage is full, that is roughly the ceiling on what Saudi Arabia could keep producing. Close Ras Tanura and Yanbu at the same time, and the Kingdom would have to shut in most of its oil fields. That is exactly the scenario Ansar Allah’s campaign against the pipeline, the Red Sea and the Gulf terminals is built to produce.
Why this matters to everyone else
The rest of the world is already living with the consequences. Saudi diesel exports are down by about 400,000 barrels a day, at the same moment Hormuz is restricted and Russian refineries are under drone attack. The International Energy Agency says the global diesel shortage will last well into 2027. Brent is above $100. Europe, which depends on imported diesel, is already rioting over the cost of living, and winter has not started.
Miller makes no claim that every barrel of lost output was blown up by a Houthi missile, and he is careful to say so. Some of the decline reflects shipping, security and commercial decisions. But the point is that it doesn’t matter to a trucker in Lyon or a farmer in Lombardy whether a barrel was lost to a missile, a closed sea lane or a refinery that has no power. It is gone either way.
So when Aramco says its system is intact, ask what the production figures, the export figures and the fuel stocks say. They say Saudi Arabia is producing a quarter less oil than it did in February, exporting half as much diesel, and drawing down its reserves to keep the lights on. Any new American or Israeli campaign against Iran will land on a Saudi energy system that has no slack left to absorb it.
South African police said on Thursday they were investigating the killing of a foreign national by a crowd of about 50 people in the city of Durban.
The South African Police Service said in a post on X that the victim, thought to be in his late 30s or early 40s, was beaten by the crowd and declared dead at the scene A group of people had been marching in central Durban when two men appeared to break away and approach the victim, after which he was assaulted by about 50 people, police said
Police did not give the victim’s nationality and said the motive for the killing was unknown The incident follows months of anti-migrant protests in South Africa, some of which have turned violent and drawn international criticism, prompting thousands of migrants from elsewhere in Africa to flee affected communities.
Earlier this month, anti-migrant protests in Durban and Johannesburg’s Soweto township turned violent, with foreign-owned businesses looted and vehicles set alight after demonstrations against the processing of asylum applications at a refugee reception centre
The European Consumer Centre Cyprus handled 864 cross-border complaints and 557 requests for information in 2025, resolving approximately 53 per cent of enquiries and cases successfully, according to its annual report.
The centre said cases were resolved in cooperation with European Consumer Centres in other member states, with the aim of reaching out-of-court settlements that satisfied the parties involved.
Only 4.8 per cent of cases were referred to other alternative dispute resolution bodies, the report found.
Consumer satisfaction with the centre’s case-handling services reached 95.24 per cent, a level the report described as a long-standing achievement.
The European Consumer Centre Cyprus operates within the Consumer Protection Service of the Ministry of Energy, Commerce and Industry.
It provides free advice and practical assistance to consumers experiencing problems with cross-border transactions within the European Union, as well as in Norway and Iceland.
As part of its public information and education activities, more than 1,114 primary school pupils took part in the “Safe Online Shopping” educational programme during 2025.
Centre officials also appeared on television and radio programmes to inform the public about consumer rights, with particular emphasis on air travel and online shopping.
The centre additionally participated in surveys, consultations and questionnaires organised by the European Commission and the European consumer network.
Through these contributions, it provided evidence-based responses and helped strengthen consumer information and protection across the single market.
The report highlighted the centre’s work in handling cross-border complaints, educating consumers and contributing to wider European efforts to protect consumer rights.
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