Eurotrack: CyprusAll entries related to Cyprus, newest first.tag:eurotrack.ai,2026:en:en/countries/cyprus2026-10-01T06:00:00ZEurotrackπ Commission pays β¬9.8bn in recovery funds to five countriestag:eurotrack.ai,2026:dab8155a:en2026-10-01T06:00:00ZThe payments follow Council approval and reward completed reform and investment targets in the national recovery plans; Poland's tranche rests on its fifth payment request of 19 June 2026, which the Commission had assessed positively on 10 August 2026, and funds among other things 88 new trams for WrocΕaw, PoznaΕ and KrakΓ³w and digital technology in schools (European Commission, 1 Oct 2026). β Source: https://ec.europa.eu/commission/presscorner/detail/en/ip_26_2037π S&P upgrades Cyprus to Atag:eurotrack.ai,2026:a9d01f5c:en2026-09-19T06:00:00ZS&P cites strong tax revenues, growing services exports, notably in IT and intellectual property, and falling debt; the president, the finance minister and the chief executive of Bank of Cyprus welcomed the upgrade. The agency names dependence on imported oil for power generation as a burden (Cyprus Mail, 19 Sep 2026). β Source: https://cyprus-mail.com/2026/09/19/sp-rating-boost-signals-strong-international-investor-confidence-for-cyprusπ Cyprus cabinet approves β¬11.1bn budget for 2027tag:eurotrack.ai,2026:7332b9ac:en2026-09-16T06:00:00ZFinance Minister Keravnos names fiscal discipline, containing public-sector employment, the green and digital transition and higher defence spending as goals. Parliament is to vote in December 2026 (Cyprus Mail, 16 Sep 2026). β Source: https://cyprus-mail.com/2026/09/16/cabinet-approves-e11-1-billion-cyprus-budget-for-2027π€ Meridiam to take majority stake in Great Sea Interconnector (France / Greece / Cyprus)tag:eurotrack.ai,2026:45d347c1:en2026-08-05T06:00:00ZFrench investment group Meridiam becomes majority shareholder, with 66%, of the project company behind the Greece-Cyprus subsea power cable, while Greek grid operator Admie keeps the remaining third. The project is estimated at β¬1.9bn; whether Cyprus itself becomes a shareholder will only be decided after a financing study by the European Investment Bank, expected by year-end. The sources give no purchase price (Cyprus Mail, 6 Aug 2026; second source: Protothema, 5 Aug 2026). β Sources: https://cyprus-mail.com/2026/08/06/french-investors-entry-gives-great-sea-interconnector-new-momentum-damianos-says Β· https://en.protothema.gr/2026/08/05/france-strengthens-greece-cyprus-power-link-as-meridiam-acquires-majority-stake/π€ MOL to buy Shell's 35% stake in Aphrodite gas field off Cyprus (Hungary / United Kingdom / Cyprus)tag:eurotrack.ai,2026:6e5cc4bf:en2026-07-31T06:00:00ZHungary's MOL is acquiring from Shell the company BG Cyprus, which holds 35% of the non-operated Aphrodite gas field; the price is up to USD 720m including milestone-linked payments. The field holds about 104 bcm of gas; Chevron operates it (35%) and NewMed holds 30%. A final investment decision is planned for 2027 and first gas for 2031 via a 250 km pipeline to Egypt. Closing is expected in early 2027 and needs regulatory approvals (World Oil, 31 Jul 2026). β Source: https://www.worldoil.com/news/2026/7/31/shell-sells-aphrodite-gas-field-stake-to-mol-in-deal-worth-up-to-720-million/π€ CTC lifts stake in Ermes Department Stores to 86% (Cyprus)tag:eurotrack.ai,2026:8f209bd2:en2026-07-27T06:00:00ZCyprus Trading Corporation has completed its mandatory bid for Ermes Department Stores, submitted on 2 Apr 2026 and expired on 13 Jul 2026: acceptances for 9.14% of the shares (15,957,667) lift its holding from 77.21% to 86.36% (150,697,714 shares). The report gives no price; accepting shareholders were paid on 23 Jul 2026 (Cyprus Mail, 27 Jul 2026). β Source: https://cyprus-mail.com/2026/07/27/ctc-finalises-ermes-takeover-bidπ European Commission opens three infringement cases against Cyprustag:eurotrack.ai,2026:cf0b3f10:en2026-07-08T06:00:00ZCyprus is one of eleven member states that received a letter of formal notice over authorisation and certification rules for energy installations, which the Commission says close off the market. A further letter of formal notice, together with Malta and Finland, concerns the failure to notify transposition of Directive (EU) 2024/2839 on reducing reporting obligations, and a third case concerns rules on intelligent transport systems (Politis, 8 Jul 2026). β Source: https://en.politis.com.cy/news/politics/1017884/cyprus-faces-three-eu-infringement-proceduresπ Cyta buys RedMax data centre in Latsia and expands it (Cyprus)tag:eurotrack.ai,2026:4712bec5:en2026-07-07T06:00:00ZThe data centre is to meet international security standards and ISO certifications and to be partly powered by renewable energy; Cyta wants to expand cloud and colocation services for businesses, public bodies and international organisations. The report gives neither purchase price nor investment amount (Cyprus Mail, 7 Jul 2026). β Source: https://cyprus-mail.com/2026/07/07/cyta-invests-in-biggest-privately-owned-data-centre-in-cyprusπ Mobile desalination unit at Limassol port enters full operation (Cyprus)tag:eurotrack.ai,2026:b43d757c:en2026-04-05T06:00:00ZThe mobile desalination plant at Limassol port, with a daily output of 10,000 mΒ³, is in full operation after successful trial running; according to the agriculture ministry it is the third new unit after Moni (15,000 mΒ³) and Kissonerga (12,000 mΒ³), raising the number of plants from five to eight, and to nine with Garyllis. Further mobile units in Episkopi, Vasiliko, Mazotos and Yermasoyia, together 95,000 mΒ³ a day, are planned for 2026 and 2027 (Cyprus Mail, 5 Apr 2026). β Source: https://cyprus-mail.com/2026/04/05/mobile-desalination-unit-in-full-operation-at-limassol-portπ€ Bank of Cyprus to acquire loans and deposits of Cyprus Development Bank (Cyprus)tag:eurotrack.ai,2026:e0aaf10c:en2026-03-23T06:00:00ZBank of Cyprus plans to take over from the Cyprus Development Bank a portfolio of performing loans with a gross book value of about β¬150m and deposits of about β¬500m, at a price close to par and with a capital impact of around 35 basis points. Shareholders holding about 96% of the Development Bank's capital have irrevocably committed their support; completion is expected in the second half of 2026 and still needs regulatory approvals (Cyprus Mail, 23 Mar 2026). Update (21 Oct 2026): The acquisition has been completed; after all regulatory approvals, loans of about β¬130m and deposits of about β¬440m passed at a price close to par, with a capital impact of about 30 basis points (Cyprus Mail, 21 Oct 2026). β Sources: https://cyprus-mail.com/2026/03/23/bank-of-cyprus-reaches-deal-to-acquire-deposits-and-loans-from-cdb Β· https://cyprus-mail.com/2026/10/21/bank-of-cyprus-completes-e570m-loan-and-deposit-acquisition-from-cdbπ Eurobank Cyprus launches voluntary exit scheme for about 300 jobs (Cyprus)tag:eurotrack.ai,2026:7aa250b3:en2026-03-09T06:00:00ZEurobank in Cyprus launched a voluntary exit scheme on 9 Mar 2026 aimed at about 300 employees of the merged bank; for the first time it is open to all staff (at least five years of service, over 35), with severance of up to β¬200,000 tax-free. The application deadline was extended from 23 to 28 Mar 2026; the scheme is part of the reorganisation after the merger with Hellenic Bank and CNP, signalled in September 2025. The figure is a target, not dismissals (Cyprus Mail, 24 Mar 2026). β Source: https://cyprus-mail.com/2026/03/24/eurobank-extends-voluntary-exit-scheme-deadlineπ Cyprus plans over 100 new digital government services in 2026 (Cyprus)tag:eurotrack.ai,2026:2867e8e8:en2026-02-17T06:00:00ZThe target for 2025 was 60 services; in 2026 the focus is on deeper integration of government systems, for instance by extending eDEA to grades, absences and teacher placement (Cyprus Mail, 17 Feb 2026). β Source: https://cyprus-mail.com/2026/02/17/cyprus-to-launch-100-new-digital-government-services-in-2026π€ Petrolina completes takeover of ExxonMobil Cyprus (Cyprus)tag:eurotrack.ai,2026:b5abc5f1:en2026-02-02T06:00:00ZThrough its subsidiary Med Energywise, Petrolina acquired all shares in ExxonMobil Cyprus at the end of January 2026; the total price is β¬45.1m after the usual post-closing adjustments. The agreement had been signed on 27 Nov 2024, and the company is to be renamed eWise Cyprus (filing to the Cyprus stock exchange, Cyprus Mail, 2 Feb 2026). β Source: https://cyprus-mail.com/2026/02/02/petrolina-completes-e45-1m-acquisition-of-exxonmobil-cyprusπ Cyprus brings major tax reform into forcetag:eurotrack.ai,2026:c1de6b44:en2026-01-01T06:00:00ZParliament passed five of the government's six bills after amendments in the finance committee; publication in the official gazette followed at the turn of the year. Further parts are longer liability for company directors beyond their departure and a special contribution on bond interest of companies on the exchange's New Market cut to 3% (Cyprus Mail, 2 Jan 2026). β Source: https://cyprus-mail.com/2026/01/02/cyprus-overhaul-of-tax-system-comes-into-force