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1. Cyprus to boost wages for nearly half the workforce amid rising costs

Cyprus is set to spend more next year, with the 2026 budget estimating total expenditures, including loan repayments, interest, and investments, at €13.7 billion, up from €12.9 billion in 2025. Personnel costs, including pensions and gratuities, are expected to rise by roughly 4.2%, reaching €3.7 billion....

2. When ''ATA for All'' becomes ATA for no one

And here we are. The government’s big promises and bold declarations over the Cost-of-Living Allowance (ATA) have officially run out of road. Remember when officials were preaching “ATA for all,” even pushing protesters to turn the slogan into rally signs? ...

3. Wolt loans nearly €2 million to Cypriot small and medium enterprises

Wolt, the platform connecting consumers, local businesses, and delivery partners, has lent nearly €2 million to small and medium-sized enterprises (SMEs) in Cyprus. ...

4. Bank of Cyprus posts €353 million profit in 2025 despite lower interest income

Bank of Cyprus reported profits of €353 million for the first nine months of 2025, slightly below the €401 million earned in the same period last year but still showing solid results in a cooling economy....

5. Cyprus considers raising family income limit in major tax reform

Finance Minister Makis Keravnos said Friday he is open to raising the family income ceiling for tax deductions to €90,000 from the proposed €80,000, noting that ''the cost is not prohibitive.''...

6. Alpha Bank completes the acquisition of AstroBank’s banking operations in Cyprus

Alpha Bank announces the successful completion of the acquisition of substantially all assets and liabilities of AstroBank Public Company Ltd (“AstroBank”), through its subsidiary Alpha Bank Cyprus Ltd (“Alpha Bank Cyprus”) and other Group entities, following the receipt of all required regulatory approvals (the “Transaction”)....

7. Cyprus reports €29.3 billion negative net financial position, household income climbs in 2024

Cyprus closed 2024 with a negative net financial position of €29.27 billion, according to new data detailing macroeconomic indicators by institutional sector....

8. Bank of Cyprus Scoops 11 Awards in Global Finance’s 2025 Digital Bank Rankings

Bank of Cyprus wins 11 awards, including 2 regional awards, in Global Finance’s 2025 World’s Best Digital Bank Awards ...

9. Von der Leyen survives censure votes while Hungary faces espionage claims

European Commission President Ursula von der Leyen has emerged politically strengthened after surviving two motions of censure in the European Parliament, but faces ongoing scrutiny over EU policies and allegations of espionage involving Hungary....

10. Limassol shooting linked to loan sharking, suspect in custody

Police have arrested a 43-year-old man in connection with a shooting at a company’s offices in Limassol early Tuesday, a case authorities say stems from loan sharking....

11. Cyprus state payroll to rise €153 million in 2026 budget

Cyprus’ state payroll is set to climb again in 2026, with government spending on personnel projected to rise by €153 million despite efforts to rein in hiring....

12. Finance Minister warns GSI Project may be infeasible, making its funding risky

Finance Minister Makis Keravnos has raised concerns about the GSI electricity interconnection project, saying there is a risk if the government provides funding. He added that some studies suggest the project may not be viable....

13. EU wants €67 million back from Cyprus gas project, sparking political fight

A multibillion-euro project meant to bring natural gas to Cyprus has been thrown into turmoil, after the European Commission demanded the return of €67 million in funding over alleged irregularities in how the contract was awarded. ...

14. Cyprus banks fined hundreds of thousands for unfair loan terms

Cyprus’ Consumer Protection Service (CPS) has hit the two largest banks in the country with hefty fines for using illegal or unfair terms in their loan agreements, warning that thousands of borrowers may be affected....

15. EIF and Eurobank join forces to channel €62.5 million in new financing to Cypriot SMEs and start-ups

The European Investment Bank Group (EIB Group) today announced the first InvestEU Guarantee transaction in Cyprus, marking a major milestone in bringing EU-backed financing closer to Cypriot businesses....

16. Cyprus seeks U.S. military equipment, joins EU defense program

The Cyprus National Guard is preparing to expand its arsenal with U.S. military aircraft, helicopters and armored vehicles, part of a broader effort to modernize its forces and deepen defense ties with Washington and the European Union....

17. Weather forecast: Clear skies on loan, afternoon clouds included

A seasonal low-pressure system, teamed up with an unstable air mass, is busy shaping the day’s plot. Translation: sunny start, stormy interludes, and just enough breeze to test your patience....

18. Cyprus eyes U.S. military gear to bolster defense

Cyprus has formally asked the United States for surplus military equipment, President Nikos Christodoulides revealed in a late-night TV interview on Monday, calling it a natural step in the island nation’s closer security ties with Washington....

19. Bank of Cyprus: Your New Home Just a Few Clicks Away – Response Within 24 Hours

Bank of Cyprus becomes the first bank in Cyprus to offer customers the ability to apply for a mortgage directly from their mobile phone or computer, enjoying a streamlined experience and receiving a response within 24 hours....

20. Euromoney: Bank of Cyprus Named Best Bank for the 10th Consecutive Year

Euromoney, one of the leading international magazines focused on banking, finance and financial markets, has named Bank of Cyprus the Best Bank in Cyprus in its 2025 Awards for Excellence. This is the 10th year that Bank of Cyprus has been recognised by Euromoney as Cyprus’ Best Bank....

21. Cyprus to plan market return despite global uncertainty

Cyprus will begin planning its return to international financial markets in September, aiming for a fourth-quarter re-entry, officials confirmed....

22. Cyprus news roundup: Fires, finance and fiery wage demands

From forest fire probes to banking battles, here’s a look at the week’s biggest developments in Cyprus....

23. Cyprus savers earn less, borrowers pay more as banks widen gap with Eurozone

If you’re saving your money in a Cypriot bank, you’re probably earning less interest than the average European. But if you’re borrowing for a home or your small business, you’re likely paying more....

24. BOC reports €235M in profits, but what does that actually mean for the rest of us?

25. Eurobank to hike dividends by over 50%

Eurobank has announced plans to increase its dividend payout by more than 50% next year, alongside a juicy interim dividend of €170 million, equivalent to 4.7 cents per share. The news comes despite a small dip in profits, showing the bank’s confidence in its growth path and expanding footprint....

26. XM investors await green light to take over Ancoria Bank

Two Cypriot investors behind a successful global trading platform are making a bold move to take over Ancoria Bank, in what could signal a new era for small-scale banking in Cyprus....

27. Banks show profit decline, asset growth, and capital strengthening in Q1 2025

The Central Bank of Cyprus released updated data Wednesday showing a decline in bank profits, an increase in assets, and a stronger capital position for the first quarter of 2025....

28. Vasilikos scandal: Bank accounts under scrutiny in EU probe

Cyprus' political parties are voicing strong support for the examination of bank accounts linked to the failed Vasilikos LNG terminal as part of an ongoing investigation by the European Public Prosecutor’s Office (EPPO). ...

29. Cyprus banks are merging and here’s what that means for you

Cyprus is heading toward a major financial facelift, with a wave of mergers and acquisitions already in motion and expected to accelerate by the end of 2025. Sirens may have marked a different kind of Tuesday morning in Nicosia, but in the banking world, the alarm bells signal transformation....

30. Deposit rates fall for households and businesses, while mortgage rates climb

Average interest rates on deposits from households and businesses in Cyprus declined in May compared to April, while average mortgage rates edged higher, according to data released Thursday by the Central Bank of Cyprus....