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61.  Debate intensifies over proposed 5% tax on bank profits in Cyprus

According to a report by Panayiotis Rougalas in today's 'Oikonomiki', a controversial proposal to introduce a 5% tax on bank profits in Cyprus is racing against time to be debated in Parliament before the Christmas recess....

62. Cybersecurity and ICT risks emerge as leading drivers of operational risk

Geopolitical tensions have significantly increased operational risks, particularly in the areas of cyber and digital threats, as well as risks related to money laundering and sanctions compliance....

63. Minimum income recipients allegedly renting T/C properties for pennies

A shocking new controversy has emerged involving recipients of the minimum guaranteed income who are allegedly renting valuable Turkish Cypriot properties for an incredibly low price. ...

64. Rhodes declares state of emergency after storm ''Bora''

The Greek island of Rhodes has been declared in a state of emergency following the devastating impact of Storm Bora, which struck on Sunday, December 1, 2024....

65. Petrolina acquires Esso in Cyprus for €48.6 million

Petrolina (Holdings) Public Limited (PHL) has successfully acquired ExxonMobil Cyprus Limited (EMCL), the company behind the Esso brand in Cyprus, for €48.6 million. ...

66. 22 million users cut off as Europe's largest piracy ring busted

In a sweeping operation spanning multiple countries, Italian police dismantled a massive illegal streaming network that served more than 22 million users across Europe. Dubbed ''Operation Takendown''...

67. Greek hoteliers sue booking.com over equal pricing rules

Greek hoteliers, led by the Hellenic Chamber of Hotels (HCH), are preparing to take legal action against Booking.com, claiming damages that could total tens of millions of euros....

68. Spain fines Ryanair and other low-cost airlines €179M for abusive practices

Spain's Ministry of Consumer Affairs has slapped five major low-cost airlines with hefty fines totaling €179 million for a range of alleged abusive practices, including charging extra fees for hand luggage. ...

69. Huge fuel price gap in Nicosia puts consumers at a disadvantage

Consumers in Nicosia are facing large price differences at fuel stations, with some paying up to 308 euros more for heating oil than others. This price gap is raising questions about unfair competition in the market,...

70. ARIS │ A REALLY INSPIRING STORY is looking to cultivate new stories of success

71. Greek real estate fourth cheapest in Europe, draws foreign buyers

The Greek real estate market has significant prospects for establishing itself as one of the main destinations for foreign home buyers, being the fourth cheapest in Europe....

72. Bank of Cyprus reports €401 million profit surge

In the latest financial report, Bank of Cyprus has reported a solid profit of €401 million for the first nine months of 2024—a 15% jump from last year’s €349 million. ...

73. BOC finalizes sale of troubled loans to boost stability and growth

In September 2024, the Bank of Cyprus reached a deal with funds linked to Cerberus Global Investments B.V. to sell a portfolio of non-performing loans—primarily business loans backed by collateral. ...

74. Cyprus trade deficit drops by €1.18 billion as imports and exports decline

Cyprus’ trade deficit dropped significantly by 17.4%, or €1.18 billion, in the first nine months of the year compared to the same period in 2023, according to provisional data from the Statistical Service of Cyprus (Cystat). ...

75. Hellenic Bank reports €284.4M profit for 2024

Hellenic Bank reported a profit of €284.4 million for the first nine months of 2024, up from €240.7 million in the same period last year....

76. Stella Kyriakides honored for cancer advocacy

European Commissioner for Health Stella Kyriakides has received the highest recognition from the European Federation of European Cancer Leagues (ECL) for her contributions to cancer prevention and treatment. ...

77. Euronet remains only bidder in delayed JCC sale

The process for the sale of JCC Payment Systems, which began confidentially over the summer, appears to have hit a "snag," with Euronet as the only prospective buyer. ...

78. Caravan of Humanity spreads joy and solidarity across Cyprus

The Caravan of Humanity, a non-profit group founded in Austria, wrapped up their uplifting mission in Cyprus on October 28, leaving behind a trail of laughter and goodwill. ...

79. Cyprus achieves first A-level credit rating in major milestone

Scope Ratings has upgraded Cyprus's credit rating to A- from BBB+, marking the country's first A-level rating from a major credit agency....

80. CBC urges banks to show social responsibility despite sector’s strength

The Central Bank of Cyprus (CBC) released its annual Financial Stability Report for 2023 on Tuesday, indicating that the financial sector is overall strong and capable of handling unexpected challenges. ...

81. Cyprus surpasses pre-pandemic financial levels with growing surplus

Cyprus is bouncing back from recent economic challenges, with its financial health improving dramatically. Current fiscal surpluses now exceed what they were before the pandemic, thanks to a significant increase in revenue....

82. FT: Foreign students lured to illegal universities in occupied Cyprus

The Financial Times published an extensive report from Nicosia, highlighting a scheme targeting foreign students, particularly from Africa and Asia, through agencies promoting study opportunities at illegal universities in the occupied northern Cyprus....

83. Bank profits in crosshairs as tax talks heat up

The future of a special tax on bank deposits paid to the state may be heading for a shift, though a final decision is not guaranteed. ...

84. Freedom Holding Corp. marks 5th anniversary of Nasdaq IPO with significant growth milestones

Freedom Holding Corp. (FRHC) is celebrating the fifth anniversary of its IPO on the Nasdaq Capital Market, one of the world’s leading stock exchanges. ...

85. ECB to review AKEL’s proposed bank tax amid financial concerns

The European Central Bank (ECB) is set to evaluate a proposed "windfall tax" on banks, commonly associated with the leftist political party AKEL, in Cyprus. ...

86. EU takes Cyprus to court over tax law delays

The European Commission has referred Cyprus, along with Spain, Poland, and Portugal, to the European Court of Justice for failing to implement the 2022 directive on a global minimum level of taxation for multinational corporations and large companies (Pillar 2 directive)....

87. Spin For Smiles: ALPHAMEGA Hypermarkets support the vision of the Karaiskakio Foundation

ALPHAMEGA Hypermarkets and the Karaiskakio Foundation join forces once again, promoting a common vision ... a world full of children’s smiles! ...

88. BOC shares open at €4.78 on Athens exchange post-London exit

The Bank of Cyprus made its debut on the Athens Stock Exchange (ASE) today, following the delisting of its shares from the London Stock Exchange (LSE). ...

89. Cypriot loan servicers struggle as red loans hit €21.2B

While non-performing loans (NPLs) in Cypriot banks are gradually declining, the situation remains dire for "red loans" held by loan acquisition companies, or "servicers." ...

90. FTC accuses Meta of putting profits ahead of user privacy

A years-long study has uncovered that major social media and internet companies are involved in "mass surveillance" to capitalize on users' personal data, according to the U.S. Federal Trade Commission (FTC)....