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31. Cyprus faces surge in online scams

Online scams are becoming a serious issue in Cyprus, with recent data revealing a sharp increase in fraudulent activities. In the past 25 days, authorities have reported eight significant fraud cases, totaling over half a million euros in losses....

32. AEGEAN announces a €25M Investment in Volotea

Aegean Airlines S.A. (''AEGEAN'') is pleased to announce an investment of €25M in Volotea S.L., one of Europe’s leading low-cost carriers based in Barcelona, Spain....

33. Hellenic Bank's profits surge amid higher lending rates

Hellenic Bank, Cyprus’ second-largest lender, has had a strong start to 2024, reporting a net profit of €189 million in the first half of the year—a solid 18% increase from last year. This boost in profit is mainly due to a 30% rise in interest income, driven by higher European Central Bank (ECB) interest rates....

34. Cyprus banks set for major changes in September

September will bring significant shifts for Cyprus's two largest banks....

35. Why we failed as a country

In July, the resilience of Cypriot society was tested once again as it faced yet another challenge, underscoring its entrapment in heavy fuel oil. This entrapment translates into an annual fine of €200 million due to emissions. ...

36. Illegal tobacco smuggling from occupied territories hits new high in Cyprus

Last Friday, two Cypriots and a British national were apprehended at Paphos Airport with illegal tobacco products valued over €30,000 while attempting to smuggle them into the UK....

37. Limassol resident loses €30,000 in cryptocurrency scam

A 54-year-old resident of Limassol reported to the police yesterday that he was scammed out of €30,000 by an online scammer posing as a cryptocurrency investment advisor....

38. Politico: Cypriot firm linked to Belarusian leader exploits sanctions loophole

A recent investigation by Belarusian journalists has uncovered that a company based in Cyprus is profiting from inflated contracts related to the export of potash, a key ingredient in fertilizer, from Belarus....

39. Bank of Cyprus sees 23% profit growth, raises financial targets

The Bank of Cyprus has announced a 23% increase in its profit after tax for the first half of 2024, reaching €270 million, compared to the same period in 2023. ...

40. Limassol man duped out of €30,000 in cryptocurrency scam

41. Cypriot banks show resilience amid challenges, says CBC Governor

Despite the continuous challenges, the Cypriot banking system continues to register a positive course, which is reflected in the main supervisory indicators, Governor of the Central Bank of Cyprus (CBC), ...

42. Corruption at the heart of the Cyprus problem

Is there any doubt that corruption is a major reason why the Cyprus problem remains unresolved? A recent example is the Vasiliko case, the construction project of the ''Liquefied Natural Gas Storage and Regasification Terminal'' in Vasiliko....

43. Eurobank Cyprus reports €105.7M net profit for H1 2024

Eurobank Cyprus reported a net profit of €105.7 million for the first half of 2024, marking a 16% increase, or €14.9 million, compared to the same period in 2023....

44. Fruits and perishables made of gold

Soaring retail prices for fresh fruits and vegetables have heavily impacted both consumers and producers in recent months. ...

45. Cyprus ranks second in EU for workers unable to afford vacations

Cyprus recorded the second-largest share of workers unable to afford vacations in 2022 among EU member states, with 25% of its workforce affected, according to an analysis of Eurostat data by the European Trade Union Confederation (ETUC)....

46. Eurobank to revamp Hellenic Bank's leadership in September

Eurobank is now focusing on the next steps following the completion of its tender offer for a 100% acquisition of Hellenic Bank, finalized on Tuesday, June 30, 2024. ...

47. Greek firms fuel business expansion across Cyprus

The investment climate in Cyprus has significantly improved since the crisis era of 2013, attracting substantial interest from Greek companies....

48. Cyprus surges in high-speed internet and tech jobs

Cyprus is making notable progress in its digital transformation, with coverage of very high capacity networks (VHCN) reaching 77.1% in 2023, a 28.5% increase from the previous year, according to the Deputy Ministry of Research, Innovation, and Digital Policy....

49. FT: Unilever to cut 1/3 of office jobs in Europe

Unilever, one of the largest distributors of consumer goods such as Dove, and BEn & Jerry's, Lipton, Knorr, etc., has announced plans to eliminate a third of its office-based roles in Europe by the end of 2025, ...

50. Cyprus sets course for cheaper electricity in 2025

Energy, Commerce, and Industry Minister George Papanastasiou unveiled Cyprus' ambitious plans for the Electricity Authority of Cyprus (EAC) during a press conference in Nicosia on Tuesday. ...

51. Murder investigation heats up, land deal at heart of Mykonos feud

The murder of topographer Panagiotis Stathis in Psychiko has cast a fresh spotlight on a contentious plot of land in Mykonos, believed to be the epicenter of a bitter dispute between Stathis and a local businessman....

52. CBC to keep dividends low despite bank profits

The increased profitability of Cypriot banks, will not affect the supervisory authorities’ views over the necessity to maintain a prudent policy with respect to banks’ dividend payments, the Central Bank of Cyprus said in its annual report for 2023, published on Wednesday....

53. 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....

54. 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. ...

55. ECB concerned over Cypriot bank profit tax proposal

In 2023, Cypriot banks reported unprecedented profits, marking a 15-year high, with projections suggesting even greater earnings in 2024....

56. Fitch elevates Hellenic Bank’s credit rating

Fitch Ratings has upgraded Hellenic Bank's Long-Term Issuer Default Rating (IDR) to 'BBB-' from 'BB+', with stable outlook and its Viability Rating (VR) to 'bbb-' from 'bb+'. ...

57. President announces €10 Million boost for Cyprus tourism

President Nikos Christodoulides announced a €10 million increase in the 2025 budget for the Deputy Ministry of Tourism to enhance Cyprus's international promotion....

58. Fidias' victory brings new hope to Cypriot politics

In modern pedagogy, one can distinguish between a young person who reacts to various situations and suggestions of expected behaviour, and another who remains apathetic......

59. Banks contribute over €854M in taxes amid controversy over proposed levy

In the last seven years (2017-2023), Cypriot banks have collectively paid more than €854 million in income tax, special taxes, and VAT, according to a report by Panayiotis Rouglas in last Sunday's Kathimerini....

60. Cyprus to sell €1 billion bond after improved credit ratings

The Republic of Cyprus is expediting its return to the financial markets, seeking to leverage recent credit rating upgrades by Fitch and Standard & Poor's......