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1. €50 million could flow to consumers as Cyprus moves to tax renewable energy giants

Cyprus is considering a controversial move to tax unexpected profits from private renewable energy companies, a measure aimed at funneling millions into programs that could ease the burden on consumers....

2. The energy market has opened, but power prices haven’t budged

A study by The Cyprus Institute, commissioned by the Ministry of Energy, suggests that electricity bills could be up to 20% lower if natural gas were used today for power generation....

3. Horse that killed worker at hippodrome cleared to race again next week

Less than a day after a 67-year-old worker was killed at the Nicosia Hippodrome by a panicked horse, industry insiders are stunned to learn that the very same animal has been cleared to race again next Sunday....

4. Limassol men lose €30,000 in online investment scam

Police in Limassol are investigating a new online fraud case in which two men, aged 63 and 66, were tricked out of a total of €30,050....

5. Cypriots fill supermarket carts as dining out declines

Supermarkets in Cyprus are thriving, recording strong turnover in 2024 and again this year, while restaurants and catering businesses are struggling with steep losses....

6. Woman loses over €65,000 in online investment scam

A 48-year-old woman has reported losing more than €65,200 after falling victim to an online investment scam, authorities said Thursday....

7. 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....

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

9. 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....

10. USA 1 – EU 0

Just days before the August 1st deadline, the U.S. and the EU managed to strike a new trade deal, prompting sighs of relief, as the two traditional allies will not have to clash, at least for now....

11. 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....

12. 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....

13. 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....

14. Six freed on bail, one remains jailed in convicted felon-socialite case

The curtain is lifting on what prosecutors allege is a carefully orchestrated criminal ring, with trial proceedings for seven accused individuals set to begin at 9:00 a.m. on October 3, 2025....

15. High-society scandal deepens with 63 more in the frame

What started as a story of a glamorous socialite entangled with a well-known convict has now snowballed into one of the country’s most talked-about crime sagas, with another 63 people now on the police radar, bringing the total number of individuals linked to the case to over 100....

16. 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....

17. Swiss Central Bank slashes interest rates to 0% to fight soaring Franc and deflation

In a surprise move, Switzerland’s central bank has slashed interest rates to zero, aiming to counter falling prices and slow the rapid rise of the Swiss franc, which has been drawing heavy investment as a safe-haven currency during global economic uncertainty....

18. 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....

19. BoC eyes bigger role in your financial future

Beyond its moves into the insurance sector, Bank of Cyprus is actively exploring additional ways to increase the bank’s overall value. ...

20. Alpha Bank sets sights on Cyprus insurer Altius in expansion push

Alpha Bank is in talks to buy Altius Insurance, a Cyprus-based insurance company it already works with to sell insurance products through its branches. While nothing has been finalized yet, sources say discussions have progressed to a potential acquisition....

21. Cyprus, caught in drug cartel crossfire, says Paphos Mayor

Paphos Mayor Phedonas Phedonos has made explosive claims that Cyprus is now part of an international money laundering network used by Latin American drug cartels....

22. Half of teens wish the internet didn’t exist, survey finds

Nearly half of teenagers say they’d rather grow up in a world without the internet, according to a new UK study highlighting the growing concerns young people have about the impact of social media on their mental health....

23. New 15% tax hits Hellenic and other banks

Hellenic Bank has just become the poster child for how Cyprus’ new 15% minimum tax law is starting to shake up the financial sector — and it’s not just about tax bills....

24. 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. ...

25. April Newsletter of K. Treppides & Co Ltd – 25/04/2025

A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in financial advisory and consulting services with offices in three countries....

26. From summer hotspot to all-year hub

Cyprus has big dreams, and according to Christos Angelides, General Manager of the Pancyprian Hotel Association (PASYXE), it’s going to take grit, vision, and a lot of teamwork to turn the island into a top-tier, all-year-round destination. But the potential? It’s definitely there....

27. Bank of Cyprus buys out Ethniki Insurance in €29.5M deal

The Bank of Cyprus is making a bold move to strengthen its footprint in the island’s insurance market, announcing today that it has signed a binding agreement to acquire 100% of Ethniki Cyprus Insurance Ltd....

28. Prison or mini-market?

A prison cell in Nicosia turned into a makeshift shop, complete with croissants, cigarettes, coffee, and prepaid phone cards, has landed a chief warden, an inmate, and the inmate’s wife in serious legal trouble....

29. 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....

30. Grid limitations threaten Cyprus’ green energy boom

Cyprus’ green energy transition, once a major draw for investors, is now facing serious roadblocks as the national electricity grid struggles to handle more renewable energy projects. ...