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1. 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....

2. 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....

3. 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. ...

4. 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....

5. 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....

6. 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....

7. 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....

8. 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....

9. 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....

10. 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....

11. 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....

12. 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....

13. 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....

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

15. 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....

16. 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....

17. 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....

18. 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). ...

19. 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....

20. 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....

21. Cyprus pressured to pay for stalled power cable project

Cyprus is under growing pressure from both Greece and Brussels to commit funds to the delayed Cyprus-Crete electricity cable project, despite serious concerns over its viability and geopolitical risks in the region....

22. Bank of Cyprus sheds €2.5B in real estate, marks biggest property sale in island’s history

The Bank of Cyprus has officially sold off more than €2.5 billion worth of real estate, over 5,100 properties, through its Real Estate Management Unit (REMU), marking a major milestone in clearing long-standing burdens from its balance sheet, according to Kathimerini's Panayiotis Rougalas....

23. Woman battles to save her home despite bureaucratic silence

Despite never missing a payment, Elena Yasemidou is on the brink of losing her home. She's a victim, she says, of bureaucratic neglect and heartless inflexibility....

24. Cyprus returns to three systemic banks after Alpha Bank Cyprus-AstroBank deal

Cyprus is set to have three systemic banks again after Alpha Bank Cyprus signed a final agreement to acquire most of AstroBank’s assets and liabilities. The deal was officially signed Tuesday, June 24, 2025....

25. Alpha Bank Cyprus to acquire Astrobank in €200 million deal

Alpha Bank Cyprus will acquire the entire operations of Astrobank, excluding €15 million in non-performing loans, in a deal set to be signed Friday, June 20....

26. Bank of Cyprus sells €75M worth of Paphos property to Exness

The Bank of Cyprus has closed a major property deal with fintech firm Exness, selling land worth €75 million in Paphos, sources confirmed to Kathimerini Cyprus....

27. Thousands see cheaper monthly payments as BOC lowers loan rates

Cyprus homeowners and businesses, take note: your loan payments might be about to shrink....

28. Good news for borrowers as ECB to cut interest rates

The European Central Bank (ECB) is widely expected to cut its key interest rates by 0.25% this Thursday, a move that could bring welcome relief for borrowers and banks in Cyprus. ...

29. More struggling homeowners get relief under government’s OIKIA scheme

The General Accounting Office has wrapped up the second phase of the government’s OIKIA Scheme, approving financial relief for dozens more struggling homeowners. ...

30. Cypriots rush to borrow as rates drop, but are banks repeating old mistakes?

As interest rates continue their downward trend, and with further cuts expected, borrowers are feeling more confident. This isn’t hearsay from bank insiders or coffee shop chatter; ...