Eurobank on Friday announced its intention to explore a parallel listing of its shares on the main market of the Cyprus Stock Exchange (CSE), following the successful completion of its acquisition of Hellenic Bank.

This move marks what the bank described as “the largest foreign investment ever implemented in Cyprus”.

The development comes in the context of the imminent delisting of Hellenic Bank shares from the Cyprus Stock Exchange, scheduled for June 30, 2025.

Eurobank stated that it is examining the possibility of listing its own shares in Cyprus in order to reaffirm its “strategic commitment to the Cypriot economy” and its support for the “development and strengthening of the local capital market”.

The tax department is “putting the final touches” on bills which, if passed into law, will bring about sweeping changes to Cyprus’ tax system, according to reports on Friday.

The Cyprus News Agency (CNA) reported that it is hoped the bills will be sent to the legal service for review as soon as next week, with them set to then be submitted to parliament following the summer recess. “In essence, the bills have been completed and only some details remain. We can say that today, their preparation is being completed,” CNA quoted a source as saying.

The source added that the bills will be put up for public consultation “around July 9”, with the finance ministry then set to “evaluate the comments received” and “incorporate some of them into the final text of the bills”.

“Approximately two months will be required for the legal review of the bills and for public consultation,” the source said.

State-owned asset management company Kedipes paid €60 million to the state on June 26, as part of the ongoing repayment of state aid previously provided to the now-defunct Cooperative Cyprus Bank.

According to a statement by Kedipes released on Friday, the payment concerns the second quarter of 2025 and forms part of the gradual repayment of the total financial support that was extended.

The organisation said that total repayments made by Kedipes since it began operations in 2018 have now reached €1.59 billion.

Of this amount, €1.57 billion has been returned in cash, €13.5 million has been spent on the Rent for Installment scheme, and €10.5 million accounts for other payments, such as contributions to the Estia scheme.

The Consumer Protection Service this week issued a detailed advisory to inform consumers about the rules governing online purchases.

This comes amid a marked increase in orders from countries outside the European Union, such as China, the United Kingdom, the United States, and others. The agency stated that shipments with a value of up to €150 are exempt from import duties.

However, excise duty may still apply to certain goods, such as crystal, porcelain decorative items, and alcoholic beverages. These items are also subject to value added tax, either at the standard rate of 19 per cent or a reduced rate depending on the product. For example, books are taxed at 5 per cent.

VAT may have already been paid during the purchase through the import one-stop shop system, or it may be requested upon delivery by the courier service or by customs. The service also mentioned that shipments valued above €150 are subject to import duties based on the product classification.

The Cyprus Composite Leading Economic Index (CCLEI), compiled and published by the Economics Research Centre of the University of Cyprus (CypERC), recorded a year-on-year increase of 2.3 per cent in June 2025.

This follows revised increases of 2.6 per cent in May and 3.1 per cent in April 2025.

The index maintained its upward trend in June 2025, though at a more moderate growth pace.

This deceleration is attributed to the slowing growth rates of certain key components, particularly the year-on-year decline in the Economic Sentiment Indicator (ESI) in Cyprus.

There was also a marked deterioration in the euro area’s economic climate during the second quarter of 2025.

Logicom Public Ltd on Friday reported a significant rise in profitability for the first quarter of 2025, even as revenue declined compared with the same period last year, according to its consolidated financial statements.

Revenue for the quarter ended March 31, 2025, stood at €234.03 million, marking a decrease from €299.12 million recorded in the first quarter of 2024.

Despite the drop in sales, net income attributable to shareholders more than doubled, reaching €23.94 million, up from €11.72 million in Q1 2024. Moreover, earnings per share (EPS) also improved significantly, rising to 32.31 cents from 15.82 cents in the prior-year quarter.

The report also showed that gross profit for the first quarter of 2025 amounted to €22.7 million, slightly lower than the €24.92 million recorded in the same quarter of 2024. However, the gross profit margin increased to 9.7 per cent from 8.3 per cent a year earlier, indicating improved profitability per unit of sale despite lower overall sales volume.

K. Kythreotis Holdings Public Ltd, a company specialising in ready-mixed concrete, building materials, and road construction, on Friday announced both an improved profit outlook for the first half of 2025 and the approval of a dividend payout of €0.022 per share.

The company stated that its financial results for the six months ending June 2025 are expected to show an improvement over the same period in 2024. This anticipated growth is primarily attributed to increased turnover in the ready-mix concrete and quarrying sectors.

The announcement was made on June 27, 2025, through the Cyprus Stock Exchange (CSE).

In a separate notice, Kythreotis confirmed that its annual general meeting, held on June 26, approved the payment of a dividend of €0.022 per share, representing 12.9 per cent of the nominal share value.

The Cyprus Stock Exchange (CSE) on Friday announced revised reception desk hours for the months of July and August 2025.

According to the official statement released by the exchange, the updated schedule will apply specifically to the reception area located within the CSE building.

On Tuesdays, the reception will operate from 07:30 to 14:00 and from 15:00 to 17:00. On Mondays, Wednesdays, Thursdays and Fridays, the reception will be open from 07:30 until 14:00.

Petroleum product sales in Cyprus surged by 9.9 per cent in May 2025, compared to the same month last year, according to a report released on Friday by the state statistical service.

Total sales reached 134,461 tonnes during the month, driven primarily by strong increases in marine gasoil and aviation kerosene.

The provision of marine gasoil saw a sharp rise of 144.7 per cent, while sales of aviation kerosene climbed 19.6 per cent year-on-year.

Other products also recorded notable growth. Heavy fuel oil sales increased by 76.4 per cent, heating gasoil by 21.6 per cent, asphalt by 16.8 per cent, road diesel by 8.5 per cent, and motor gasoline by 7.7 per cent.

Cyprus’ industrial production index rose by 3 per cent year-on-year in April 2025, reaching 110.3 units, according to data released by the state statistical service on Friday.

The April performance contributed to a 3.8 per cent increase in the index for the first four months of 2025 when compared with the same period last year.

The strongest growth in April came from the manufacturing sector, which posted a 3.1 per cent rise, and the water supply and materials recovery sector, which recorded a 12.6 per cent increase compared to April 2024.

By contrast, production in the mining and quarrying sector fell 8.4 per cent, while the electricity supply sector remained unchanged.