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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. Calls for action against energy poverty amid tragic deaths

Political parties are urging immediate action against energy poverty following a series of fatal fires caused by unsafe heating conditions....

4. Rate hikes got you down? Bank of Cyprus has €2 Million (with strings attached)

Bank of Cyprus, perhaps feeling a twinge of sympathy for mortgage holders grappling with those pesky European Central Bank interest rate hikes, has unveiled a €2 million rewards program....

5. Cypriot hits €4.2 million Joker jackpot in Nicosia

A Joker lottery ticket played at a Nicosia agency turned one lucky Cypriot into a millionaire, claiming a prize of €4,229,300.85, lottery officials announced....

6. 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. ...

7. 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. ...

8. Lucky JOKER ticket in Kokkinotrimithia wins €18.6 million jackpot

A single ticket has made one individual extraordinarily wealthy following the 2812th JOKER draw, as they secured a prize of €18,694,681.21. The winning ticket, ...

9. Politico: Is Brexit's peak over? UK faces calls to rejoin EU

British voters are gearing up for their first post-EU general election this Thursday, marking a significant milestone since Brexit....

10. 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....

11. 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....

12. CBC chief warns: Tax on big profits could hurt economy

The new Governor of the Central Bank of Cyprus (CBC), Christodoulos Patsalides, expressed opposition to a windfall profits tax, which is a tax imposed by governments on companies that have experienced unexpectedly large profits,...

13. Hellenic Bank's pursuit of CNP Cyprus uncovers uncertainties

The exclusive negotiations between Hellenic Bank and CNP Cyprus Insurance Holdings, a subsidiary of the French insurance powerhouse CNP Assurances, have captured attention for their high stakes and strategic importance....

14. The €623 million windfall from Cyprus' shipping industry

Kathimerini reporter Andreas Karamitas dives into the heartbeat of Cyprus' economy - the shipping industry. In a revealing exploration, discover how this vital sector pumped a staggering €623 million into the real economy solely through ship management in 2023. ...

15. CERA proposes reduced electricity increases amidst parliamentary discussion

The head of Regulatory Energy Cyprus (Cera), Andreas Poulikkas, briefed the Parliament's Finance Committee on the latest proposals submitted by the Electricity Authority of Cyprus (EAC) for review. ...

16. Greek millionaire's $2M gift transforms village

In a surprising twist of fate, the legacy of a frugal Greek millionaire, Steven Zonas, unfolded in 1980, revealing a hidden fortune that transformed his native village, Mexiates in Phthiotis, Greece....

17. €3.93 billion windfall from EU on the horizon

The funds absorbed by Cyprus from European funds have exceeded the amount of Cyprus's contributions to the EU, said member of the EU Court of Auditors, Lefteris Christoforou, presenting the annual report of the Court for 2022 to President of the House of Representatives Annita Demetriou on Thursday....

18. Italy surprises banks with 40% windfall tax

Italy's rightwing coalition sent shockwaves through the financial markets as it announced an unforeseen 40% tax on bank profits derived from higher interest rates. ...

19. EU countries approve energy windfall levies, turn to gas price cap

European Union countries agreed on Friday to impose emergency levies on energy firms’ windfall profits and began talks on their next move to tackle Europe’s energy crunch – possibly a bloc-wide gas price cap....

20. Europe must be prepared for total Russian gas cut-off this winter

The International Energy Agency has warned that Europe must prepare immediately for the complete severance of Russian gas exports this winter, urging governments to take measures to cut demand and keep aging nuclear power stations open....

21. IMF warns of 'increasing headwinds to sustained growth'

22. Fair skies with low chances of rain

A wind front from the north and northeast is affecting Cyprus, with low chances of rain Thursday and Friday possibly in the north and out west...

23. Fair skies as temperature jump recedes

A recent jump in temperature is expected to recede over the next few days, with maximum highs falling back to 37 around the capital, low 30’s elsewhere and a chance of rain later in the week...

24. Couple of hot days ahead before weekend drop

Officials issued a yellow warning for extreme hot weather on Thursday, with inland temperatures expected to reach 41° Celsius, while overall temperatures will drop slightly over the weekend to reach normal seasonal averages...

25. Upper 30's with waterless clouds through mid week

The second week of August starts with clear skies throughout most parts of the day with some clouds forming after noon, with temperatures firmly in the upper 30’s through Thursday...

26. Clear skies with gusty winds in the south

A low pressure system is affecting weather conditions, with temperatures ranging from low to upper 30’s at the start of the week and very strong winds mainly in the south...

27. Uneventful beach weather for the weekend

Clear skies are expected for most of the weekend with some afternoon clouds, while Friday temperatures in the mid-30’s will climb Saturday for the next three days but only slightly...

28. Mixed weather through week's end

Weather will be mostly clear for the rest of the week with a chance of afternoon rain mainly on Thursday and weekend temperatures expected to climb back to normal again...

29. Clear skies give way to clouds and rain

There is a chance of isolated afternoon showers Friday and during the weekend, with mostly clear skies in the early part of the day being taken over by cloud formations in the late afternoon...

30. Upper 30’s could climb even higher

Tuesday weather will be mostly clear with temperatures climbing in the next couple of days but expected to take a step back before the week is out...