The move comes after the Cyprus Securities and Exchange Commission (CySEC) formally recognised Eurobank’s right to proceed with the compulsory acquisition of up to 100 per cent of Hellenic Bank’s issued share capital.
Any transaction or act involving Hellenic Bank securities will not be permitted.This includes all trading activity on the market, as well as off-exchange and over-the-counter (OTC) transactions.
Between January and April 2025, electric vehicles accounted for 4.8 per cent of passenger saloon car registrations, up from 3.6 per cent during the same period in 2024.
Hybrid cars also saw strong growth, increasing their share from 37.4 per cent to 43.3 per cent year-on-year.
In contrast, petrol-powered cars fell sharply, dropping to 42.9 per cent of total saloon registrations from 48.9 per cent a year earlier.
Koumis travelled to the Romanian capital to meet with senior officials and travel industry representatives following the launch of new routes by Animawings.
According to the announcement, the carrier is introducing direct flights to Cyprus for the first time, operating three times a week.
“Romania is a market that has developed in recent years in our country, and this year we are attempting to further expand it,” Koumis said.
Ermes Department Stores Plc has reached an agreement to transfer the operations of its four ERA department stores to Gencom Ltd, a Nicosia-based company, for a nominal sum of €1. The decision forms part of Ermes’s wider strategy to exit loss-making ventures and improve its financial health.
The agreement has already been approved by Ermes’s board of directors, though it remains subject to clearance by the Cyprus Commission for the Protection of Competition and the fulfilment of several additional conditions.
As part of the transaction, the long-term lease agreements linked to the department stores will be transferred to Gencom.
The buyer will also assume outstanding purchase orders valued at approximately €4.5 million for the Spring-Summer 2025 season. Moreover, Ermes confirmed that the existing staff of the department stores will be retained under the new ownership.
It also highlighted the need for new value-added initiatives to “secure Paphos’ long-term growth and competitiveness“.
Speaking at the Property Show Pafos ’25, held under the theme of “The Present and Future of Paphos Development,” Evep president George Mais stressed that “although progress has been made in recent years, Paphos still lacks the necessary public investment to fully realise its development potential”.
“We believe that we can further enrich our infrastructure and make our region more attractive for both local and foreign visitors and investors,” he stated.
A key proposal by the chamber is the creation of a modern marina in Paphos, which, according to Mais, would “significantly strengthen the region’s tourism offering and attract wealthy individuals to berth their vessels, invest, and settle in the area”.
The shares, each with a nominal value of €0.10, were bought on the Cyprus Stock Exchange (CSE) and the Main Market of the Regulated Securities Market of the Athens Stock Exchange (ATHEX).
According to the announcement, 57,824 of the shares were bought on the Cyprus Stock Exchange and 317,099 on the Athens Stock Exchange.
The highest price paid per share on both exchanges was €6.04, while the lowest price paid was €5.82 on the CSE and €5.80 on the ATHEX.
A majority of Cypriots are concerned that artificial intelligence could threaten the cultural sector and the livelihoods of artists, echoing widespread concerns across the EU, according to a new Eurobarometer survey published this week.
Specifically, 80 per cent of respondents in Cyprus, compared to 73 per cent across the EU, expressed concern that the rise of generative AI could affect employment or earnings in the artistic field.
Despite this, only half of Cypriots surveyed said they can tell the difference between artwork made by AI and that made by humans, a finding broadly in line with the EU average of 48 per cent.
Meanwhile, the issue of fair remuneration remains a key challenge. Just 23 per cent of Cypriots believe artists in their country receive fair and appropriate pay for their work, significantly below the EU average of 51 per cent.
The Cyprus Forum will return to London on May 22, according to an announcement released on Friday.
The event will bring together diplomats, academics, journalists and civil society leaders for a full day of discussion at the High Commission of the Republic of Cyprus to the UK.
Now in its second year, the event is organised by Oxygen for Democracy in collaboration with the High Commission, and aims to build on last year’s success by deepening policy dialogue on regional and international challenges.
This year’s focus centres on geopolitics, diaspora engagement, and the evolving relationship between the EU and the UK.
In an official statement, Semio warned that any further delay in addressing the issue would worsen the financial situation of its members and escalate consumer frustration. Semio announced plans to request a formal meeting with the Transport Minister to seek clarity on the government’s current stance and future intentions regarding the subsidy programme.
The association said the lack of progress has led to growing concern among its members, alongside strong reactions from consumers interested in purchasing electric vehicles. Semio reiterated that after it raised concerns over the sudden termination of the EV grant programme, the Transport Ministry had responded with a public statement.
In that statement, the ministry said it was “seeking to secure additional funding, either to continue the current scheme or to launch a new one of similar nature”. However, Semio noted with dismay that since the publication of the ministry’s statement, no further communication has taken place.
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