Search

1. Shock bills, football fixes & a U-turn on Makarios Ave: Cyprus' week of curveballs

From electricity bills getting a surprise bump to football clubs sliding past tax rules (again) and a Nicosia street project taking a literal U-turn, this week was full of plot twists. ...

2. Desalination lifeline arrives from UAE as island braces for summer drought

Mobile desalination units from the United Arab Emirates arrived in Cyprus over the weekend and are now being transported to Limassol and Paphos, just in time to help the island meet soaring water demand during the summer tourist season....

3. EU lawmakers approve tariff hikes on Russian, Belarusian agricultural imports

The European Parliament voted Thursday to impose higher tariffs on fertilizers and select agricultural products from Russia and Belarus, aiming to curb the bloc’s reliance on imports from the two countries....

4. EAC Chairman admits project costs overstated, downplays need for tariff hike

The Board of Directors of the Electricity Authority of Cyprus (EAC) is set to review potential electricity tariff adjustments this week, but EAC Chairman Giorgos Petrou said he does not expect a rate increase will be necessary....

5. Christodoulides tackles energy prices, demographic crisis, and declares Cyprus set to join Schengen

President Christodoulides outlined Cyprus’s plans to join the Schengen Area by 2026, urged no increase in electricity prices, and highlighted new measures to address the country’s demographic crisis....

6. Greece targets ferry duopoly as costs soar and competition sinks

Greece’s Competition Commission has launched a full investigation into the coastal passenger ferry industry following evidence of price-fixing and market distortion among dominant operators....

7. Cyprus avoids water cuts, but your bill might take a hit

Cyprus has sidestepped water cuts this summer thanks to a last-minute deal with the United Arab Emirates for 15 mobile desalination units....

8. Jumbo eyes Larnaca and Protaras for future expansion, but no timeline yet

Retail giant Jumbo has confirmed its interest in opening two new stores in Cyprus, one in Larnaca and another in Protaras, but clarified that there’s no set plan or timeframe at this stage. ...

9. Europe to tourists: Enough is enough!

If you’re planning a European getaway in 2025, expect more rules, higher fees, and fewer places to party. From Venice to Santorini, some of Europe’s most iconic destinations are saying “enough is enough” when it comes to mass tourism....

10. Holy Thursday hike turns hairy with cliffside rescue in Palaichori

What started as a scenic hike in the hills of Palaichori turned into a Holy Thursday adventure two young people won’t forget any time soon....

11. Coffee up, veggies down: March prices shift across Cyprus

Shoppers in Cyprus may have noticed some familiar staples getting pricier last month, with Cypriot coffee and frozen burgers topping the list of products with the biggest price jumps in March....

12. Rents keep climbing, but house prices aren’t going anywhere

If you’re renting in Cyprus, you’re not imagining it; it really is getting more expensive year after year. New figures from Eurostat confirm that rents on the island jumped by 4.6% in 2024 compared to the previous year, continuing a steady upward trend that’s been going on since 2017....

13. Trump unveils $5M ‘Trump Card’ for citizenship. Is it right out of the Cyprus playbook?

In classic Trump fashion, the president made headlines yet again—this time mid-air aboard Air Force One—by unveiling a new “Trump Card” aimed at wealthy foreign investors....

14. Trump declares tariff war, with chart in hand

At an official press conference, armed with a glossy chart and his signature bravado, former President Donald Trump unveiled what he described as ''the greatest, most incredible, America-first tariff plan you've ever seen.''...

15. Big pharma challenges EU over wastewater treatment costs

A legal battle is unfolding between the pharmaceutical and cosmetics industries and the European Union over who should bear the financial burden of urban wastewater treatment....

16. One in three Cypriot households struggling with rising costs

Cypriots are feeling the pinch in different ways, according to a new survey that highlights the divide in how people are coping with their household finances....

17. Prices drop for most basic goods, but fresh produce keep climbing

Good news for shoppers—most basic goods saw a price drop in February, according to the latest Consumer Price Observatory report from the Consumer Protection Service. However, if you're buying fresh vegetables and greens, you might have noticed your grocery bill going up....

18. Businesses call for simpler, fairer tax reform in Cyprus

The Institute of Certified Public Accountants of Cyprus is raising concerns over Cyprus’ proposed tax reform, arguing that while the new framework aims to ease the tax burden on individuals and businesses, it remains overly complex. ...

19. Buying direct can save you nearly 40% on fresh fruits and vegetables

If you're looking to cut your grocery bill, skipping the middleman and buying directly from local producers might be your best bet. ...

20. Cyprus sees investment boom as foreign companies flock to the island

The investment scene in Cyprus is off to a strong start in 2025, with foreign investors showing increased enthusiasm for setting up businesses on the island....

21. Cyprus banks hit record high profits despite ECB rate cuts

Despite the European Central Bank (ECB) preparing for its sixth interest rate cut since June 2023, bank profits in Cyprus have soared, marking two consecutive years of record earnings. ...

22. Cyprus tax reform: Bold overhaul aims to boost economy but sparks debate

Cyprus is preparing to implement its first major tax reform in over two decades, aiming to modernize the tax system, boost competitiveness, and align with international standards....

23. Prices of everyday essentials surge in January

Consumers felt the pinch in January as the prices of 26 staple products rose, with 11 categories jumping by more than 3%, according to the latest Consumer Product Price Watch. ...

24. Is Cyprus' public sector too large? Hiring freeze lifted amid rising costs.

The Cyprus government is set to fully lift the ban on hiring permanent public sector employees, marking a significant shift from austerity measures imposed over a decade ago....

25. Trump’s ‘tit-for-tat’ tariffs are trading jabs in the global market

President Donald Trump has unveiled a new strategy to impose tariffs on countries he deems to have unfair trade policies toward the U.S....

26. Rate hikes got you down? Bank of Cyprus has €2 Million (with strings attached)

Bank of Cyprus, perhaps feeling a twinge of sympathy for mortgage holders grappling with those pesky European Central Bank interest rate hikes, has unveiled a €2 million rewards program....

27. Eurobank moves for full control of Hellenic Bank in major takeover push

February is shaping up to be a pivotal month for Hellenic Bank, as key financial moves unfold, including a full takeover bid by major shareholder Eurobank, the completion of key acquisitions, and a voluntary exit plan for employees....

28. New EU directive to shake up electricity pricing in Cyprus

29. Cyprus keeps it cozy with rainy days and snowy peaks

Good morning! It’s Thursday, January 23, 2025, and it looks like Cyprus is still soaking in the remnants of that mild low pressure. Grab your umbrella because those rains from yesterday are sticking around....

30. Trump’s tariff plans could hurt Cyprus’ economy

The looming inauguration of U.S. President-elect Donald Trump has stirred concern across the Eurozone, and Cyprus is no exception....