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541. Court detains suspect in Metamax pyramid scheme

A 54-year-old man arrested in connection with the ''pyramid'' fraud scheme known as Metamax has been ordered detained for eight days by the Limassol District Court, according to proceedings held on Saturday, July 6th. ...

542. Alphamega and Bean Bar ranked among the top 20 Investors in People employers worldwide

543. Wolt welcomes historic collective agreement for delivery drivers

Wolt has welcomed the first-ever collective agreement in the fleet management sector, marking a major step forward for the industry. This agreement, reached through the joint efforts of the Ministry of Labour, fleet management companies, and unions, is set to benefit delivery drivers, businesses, and consumers....

544. State to cover €12M shortfall from licensing revenues

Interior Minister Konstantinos Ioannou expressed satisfaction with the progress of the Local Government Reform, despite minor issues during the initial days of its implementation....

545. Luxury retailers Saks and Neiman Marcus merge in big deal

A new luxury retail giant is emerging in the United States as the parent company of Saks Fifth Avenue acquires Neiman Marcus for $2.65 billion....

546. Cyprus’ Lidl Kids Team Cyprus experienced the UEFA EURO 2024TM in Munich

As the Official Partner of UEFA EURO 2024TM and as part of the Lidl Kids Team programme, Lidl offered children from all over Europe the opportunity to be a Player Escort at the top summer football tournament, which this year takes place in Germany....

547. Jumbo to open second store in Nicosia this summer

Jumbo is set to open its second store in Nicosia and sixth in Cyprus, located in the former Stephanides Group headquarters near the Mall of Cyprus and IKEA in Strovolos....

548. New pyramid scheme preys on Cypriots promising big profits

In a report by Hectoras Georgiou from Kathimerini, a new company named Metamax has recently popped up in Cyprus, promising substantial profits to users through its application. ...

549. Execution-style murder of civil engineer linked to Mykonos activities

Police are intensifying their investigation into the murder of 54-year-old civil engineer Panagiotis Stathis, who was fatally shot on Tuesday morning outside his company's offices in Psychiko, a northern suburb of Athens....

550. How Russian LNG still powers Europe despite sanctions

The Yakov Gakkel LNG tanker plays a crucial role in maintaining Europe's gas supply, transporting liquefied natural gas (LNG) from Siberia to European terminals....

551. Consulco hosts London Gin Night for its partners

Consulco Group hosted three unique cocktail parties, under the name “London Gin Night”, dedicated to its customers and partners. ...

552. Windcraft Music Fest reflects on 10 years of music

Windcraft Music Fest celebrates its tenth anniversary and returns dynamically on July 13th and 14th in Katydata Solea, focusing on wind instruments. ...

553. KEDIPES hits €1.36B milestone in state aid repayments

KEDIPES has announced a €60 million cash repayment made on June 26, 2024, as part of its ongoing efforts to repay state aid received by the former......

554. Cyprus cancels Russian billionaires' passports from Christofias era

Cyprus has revoked the citizenship of two high-profile Russian oligarchs who were naturalized during the presidency of Demetris Christofias. ...

555. Eurobank gains green light for 100% acquisition of Hellenic Bank

The Cyprus Securities and Exchange Commission (the “CySEC”) approved on 25 June 2024, the publication of the Takeover Bid Document for the acquisition by Eurobank S.A. of up to 100% of the issued share capital of Hellenic Bank, whose shares are listed on the Main Market of the Cyprus Stock Exchange (“CSE”). ...

556. KEDIPES sends first approvals for mortgage-to-rent scheme

State-owned asset management company, KEDIPES began sending the first approvals for eligible borrowers as part of the government-funded mortgage-to-rent scheme....

557. Paphos-Polis road project faces uncertain future

The long-awaited road project connecting Paphos to Polis Chrysochous, which began in May 2021, faces significant delays and potential abandonment. ...

558. DSV and UNICEF announce partnership to increase access to essential supplies for children worldwide

The new strategic partnership will provide rapid emergency responses while strengthening national supply chains....

559. British teen becomes world's first to receive brain implant for epilepsy control

A UK teenager with severe epilepsy has become the first person in the world to be fitted with a brain implant aimed at bringing seizures under control....

560. Apple introduces AI, but only for iPhone 15 Pro users

After nearly two years of anticipation, Apple has finally entered the artificial intelligence (AI) race....

561. Power outages hit European countries

Power outages have been reported across Europe, including Albania, Bosnia and Herzegovina, Croatia and Montenegro....

562. Sklavenitis expands to 27 stores with Papantoniou deal

Sklavenitis Cyprus has announced the integration of Papantoniou Supermarkets into its network....

563. BBF announces the full sale of four Class A business centers in Cyprus in the past 12 months

BBF, Limassol’s top luxury residential developer, successfully sold out four Class A office buildings within the last year. Spanning a total area of approximately 20,000 sq. m., the full sale of bbf: latitude, bbf: liberty, bbf: benchmark, and bbf: summit solidifies BBF’s position as a leading name in Cyprus's commercial real estate market as well....

564. AEGEAN welcomes its passengers to its new Business Lounge at Larnaca International Airport located next to the departure gates

As of today, AEGEAN's new Business Lounge at Larnaca International Airport “Glafcos Clerides " is opening its gates and welcoming its passengers into a primely located, high aesthetics and comfort space, designed to further enhance their travel experience....

565. Limassol man loses €46,900 in car sales scam

A 28-year-old man reported to Limassol Police Station that he was the victim of electronic fraud after transferring €46,900 to a bank account he believed belonged to a car sales company....

566. CBC chief warns: Tax on big profits could hurt economy

The new Governor of the Central Bank of Cyprus (CBC), Christodoulos Patsalides, expressed opposition to a windfall profits tax, which is a tax imposed by governments on companies that have experienced unexpectedly large profits,...

567. New global report launched at Global Family Business Summit

The Global Family Business report from KPMG Private Enterprise and the STEP Project Global Consortium reveals how some successful business families adopt a future-centric view of legacy that binds generations together, creating dynamic legacies that adhere with tradition while simultaneously embracing innovation...

568. Eurobank increases stake in Hellenic Bank to 55.48%

Eurobank's share in Hellenic Bank has increased to 55.48%, after the latest acquisition of 240.303 shares, for €0.62 million....

569. Epic customer service: 136 wins Best Contact Centre plus 5 more awards

Epic introduced to the Cyprus market a unique combination of two powerful elements: a great network with great value. ...

570. Eurobank boosts stake in Hellenic Bank with over 500,000 shares

Eurobank has acquired 503,934 more shares in Hellenic Bank, for the cost of €1.29 mn, increasing its share at 55.42%....