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1. Millions lost, Cyprus connection: Inside the EU probe into an alleged VAT fraud network

A major European investigation into an alleged €46.9 million VAT fraud scheme has put a network of companies with links to Cyprus under scrutiny, with authorities looking into how small electronic devices may have been used to move millions of euros through a complex tax fraud operation....

2. What’s next for Cyprus? Christodoulides weighs in on homes, bills and the peace process

In a wide-ranging interview with Kathimerini Managing Editor Thanasis Photiou, President Nikos Christodoulides spoke about everything from the Cyprus issue and his political standing after the parliamentary elections to the cost-of-living pressures facing households, housing, natural gas revenues, and even the much-discussed traditional Indian waistcoats he wore during his recent visit to India....

3. Cyprus sees one of Europe’s highest rates of illicit cigarette use

Cyprus ranked among the European countries with the highest share of illicit cigarette consumption in 2025, according to findings presented this week at a conference in Brussels focused on illegal trade and security challenges across Europe....

4. Cyprus economy still growing, but cracks may be starting to show

Cyprus’ economy continues to show steady growth, underlining its flexibility and resilience in the face of external shocks such as the ongoing Russia-Ukraine war and recent conflicts in the Middle East....

5. This time, let’s measure corruption

Corruption in a state carries real costs. It slows growth, erodes trust, and ultimately weakens the quality of democracy citizens experience....

6. Cigarette prices could soar to €7.50, smuggling set to spike

Cigarette smokers in Cyprus may soon feel a heavier pinch in their wallets if proposed European tax changes go ahead, industry officials warned this week....

7. Reforms are not done this way

Teachers, who are at the forefront of the reform, have voiced their disagreements, noting that the increased costs are not matched by an end to the practice of leveling down. So far, this has resulted in a brief work stoppage, accompanied by the predictable disruption....

8. ''Safety Concerns'' or just a tax grab?

A wave of new measures could soon change the way Europeans shop online, as the European Union moves to crack down on Chinese e-commerce giants like Temu and Shein, citing both consumer safety risks and unfair market practices....

9. Aegean Airlines: First Quarter 2025 Trading Update

AEGEAN announces its key financial and operating results for the first quarter of 2025....

10. Cyprus fuel prices raise eyebrows and questions

If you feel like you’re paying more at the pump lately, you’re not imagining it....

11. Aegean reports strong 2024 results with record revenue and passenger growth

AEGEAN announces its operating and financial results for fiscal year 2024....

12. Ukraine intensifies fight against illicit tobacco trade

The illicit tobacco trade in Ukraine, one of Europe's most prominent black markets for cigarettes, is sending shockwaves through the economies of neighboring countries,...

13. 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....

14. Nicosia ring road faces setbacks, delays and budget overruns

The Nicosia Ring Road project, a cornerstone of infrastructure development in Cyprus, has encountered significant setbacks, including delays and budget overruns, casting a shadow over its completion prospects and anticipated benefits, according to a report by Apostolos Tomaras in Kathimerini's Sunday edition....

15. Audit exposes serious issues in collecting unpaid taxes in Cyprus

An audit report from the Tax Department for 2022 has uncovered a staggering accumulation of over €2.5 billion in arrears, with €1 billion considered unsecure due to delays in necessary measures, the Audit Service revealed....

16. Tourism sets record revenue with fewer arrivals

The latest data on tourism revenues for the month of May has brought encouraging news for the tourism sector, signaling positive effects on the Cypriot economy....

17. EY presents report on the Future of Banking in Cyprus

The report showcases the importance and contribution of Cypriot banks to the wider economy and society, and identifies current and upcoming challenges and opportunities...

18. The City of London Is Hiding the World’s Stolen Money

In 1969, two years after the Cayman Islands, a British territory, passed its first law to allow secretive offshore trusts, an official government report struck an ominous note....

19. Overtaxation led to tax evasion

Losses incurred by the state coffers due to tax evasion in 2014-17 were greater than the value-added tax revenue increase as a result of consecutive tax hikes, according to a European Commission report on the so-called VAT deficit (the difference between the expected VAT revenues and actual collections)...

20. Deutsche Bank axes 18,000 jobs

21. Government throws Co-Op ball in Hellenic’s court

The Cyprus Cooperative Bank will examine Monday a final offer from Hellenic Bank to acquire the troubled state-owned institution, with government seeing the buyout as a good step while critics saying tax payers are unfairly picking up the tab...

22. Britain slashes top stake on gambling machines to £2

Britain will cut the maximum stake on fixed odds betting terminals to just two pounds after the government rejected claims that it would damage the industry in favour of efforts to tackle problem gambling...