Middle East Energy Shock: The US launched a third round of strikes on Iran as Tehran again declared the Strait of Hormuz closed after a warning shot hit a Cyprus-flagged container ship, leaving a crew member missing and damaging the engine room; Iran then retaliated with attacks on Gulf allies including Bahrain, Kuwait, Qatar, Jordan and Oman, while oil prices jumped (Brent above $78) as tanker traffic slowed and markets priced in supply risk. Cyprus Shipping Impact: Cyprus’ Shipping Deputy Ministry opened an investigation into the GFS Galaxy incident and said no Cypriot nationals were on board, as Oman and India coordinated rescue and search efforts for the missing sailor. EU Diplomacy on Cyprus: European Commission President Ursula von der Leyen announced a vice-president-level envoy for the Cyprus problem, with a new special representative to be appointed Monday to boost EU involvement alongside the UN process. Banking Watch: Cyprus’ cooperative bank revival plan is entering its share sale phase, but its CySEC-approved prospectus flags capital, licensing and regulatory risks that could derail the project. Energy Development: ExxonMobil and QatarEnergy signed a declaration of commerciality with Cyprus to advance the deepwater Glaucus and Pegasus gas fields in Block 10. Construction Labour Crunch: Etek urged faster hiring and licensing for foreign workers as construction shortages are delaying projects and raising costs, with calls to speed up third-country employment procedures. Local Business & Events: Limassol investor Jesper Weller acquired Denmark’s Berg & Larsen maritime supplier; and THAT Agency won international recognition at the WOW Awards Asia for a large-scale IQOS event in Cyprus.