AGP Executive Report
Last update: 3 hours agoEnergy & Cost of Living: President Nikos Christodoulides said cutting electricity prices remains the government’s top priority, pointing to VAT relief and the need for more investment in generation and storage as renewables rise but still fall short of targets. Retail & Tax Revenue: Cyprus collected nearly €2m in July from the new €3 online shopping customs duty, with customs processing 650,000 chargeable items in 160,000 parcels—far above earlier expectations, though officials caution the first month may not predict the full-year trend. Public Finance Literacy: The Cyprus Financial Literacy and Education Committee launched moneypedia.cy, a national digital portal with calculators, quizzes and tailored guides to help citizens budget, borrow, invest, insure and plan retirement. Banking & Markets: Bank of Cyprus reported €252m first-half profit and raised its dividend, while Eurobank received an outlook upgrade from UBS. Capital Markets: CSE approved Globalwealth’s share admission and Minerva Insurance set an interim dividend of €0.0003 per share. Corporate Moves: Shell agreed to sell its Aphrodite gas stake to MOL for $720m, while Cyprus Airways renewed a heavy maintenance deal with Bird Aviation. Water Management: Nicosia’s EOA signed an MoU with Mekorot to tackle untaxed water (about 20%) and improve sewerage management and flood response. Labour Inclusion: Christodoulides unveiled new measures to boost employment for people with disabilities, including personalised plans and higher subsidies for social enterprises. Business Confidence & Economy: Coverage also flagged improving Cyprus economic outlook as business confidence strengthens, alongside data on property sales and borrowing costs.
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