Cyprus Business Now: Alpha Bank, maritime sector, retail, BoC, worker poverty
This has resulted in the creation of Cyprus’ third-largest bank, with total assets exceeding €6.6 billion.
The transaction was carried out through Alpha Bank Cyprus Ltd and other Alpha Bank Group entities, following the receipt of all required regulatory approvals.
The transfer was executed in accordance with the Cyprus Transfer of Banking Business and Securities Law, and as of October 31, 2025, Alpha Bank Cyprus has assumed the assets and liabilities transferred under the agreement, completing a deal first signed on June 24, 2025.
Two weeks ago, following an intense week of deliberations, the majority of IMO member states voted in favour of postponing discussions on the NZF for one year.
The framework will define the measures that will guide shipping towards the IMO’s 2050 zero-emissions targets, providing clarity for shipowners and low-carbon fuel producers to move forward with key investments.
The next extraordinary MEPC session to be held in twelve months will give member states the opportunity to build broader consensus on the framework’s content and structure.
According to Cyprus Shipping Chamber (CSC), “the decision to postpone, while delaying final decisions, also provides valuable time, which has proven necessary, for the international shipping community to conduct further analysis, foster collaboration and develop practical solutions that will ensure an effective, balanced and realistic decarbonisation transition of the shipping industry.”
At the same time, Director General Stelios Chimonas told MPs that the Cyprus registry has grown by around 20 per cent since September 2023, while the number of companies under the Tonnage Tax System rose by 4.5 per cent.
The 4 per cent rise in revenues compared with the 2025 budget, he said, reflects the effectiveness of strategies implemented to strengthen Cypriot shipping.
According to the Annual Action Plan for 2026, the Deputy Ministry employs 155 people, including 94 women and 61 men, operates three administrative directorates, six overseas shipping offices, and 29 departments and services.
Its mission is the sustainable development of Cyprus as a maritime state, reinforcing both the economy and the Republic’s international standing.
The change, which occurred on October 30, 2025, triggered a mandatory notification to both the issuer and the Central Bank of Ireland.
The notification was submitted using the Standard Form TR-1 for major holdings and was received by the issuer on October 31, 2025.
The filing cited the acquisition or disposal of voting rights as the reason for the disclosure.
According to Eurostat, the share of working individuals at risk of poverty was notably lower for women at 7.3 per cent, compared to 9.0 per cent for men.
In Cyprus, the rate stood at 7.3 per cent overall, slightly below the EU average.
However, the gender distribution in Cyprus diverged from the European pattern, with the rate higher among women (8.5 per cent) than among men (6.3 per cent).
This places Cyprus among the few EU countries where working women face a greater risk of poverty than their male counterparts, alongside Czechia, Latvia, and Luxembourg.
The Turnover Value Index of retail trade, excluding motor vehicles, increased by 6.3 per cent from a year earlier, while the Turnover Volume Index rose 9 per cent.
Using 2021 as the base year, the value index reached 140.4 and the volume index 125.5.
Over the first nine months of 2025, retail trade grew 6.2 per cent in value and 7.6 per cent in volume compared with the same period in 2024.
Among individual categories, food, beverages and tobacco in specialised stores recorded the largest annual increase, with value up 15.1 per cent to 153.2 and volume up 19.2 per cent to 122.5.
In its announcement, the chamber said the event, which took place on October 31 in Limassol, has been “established now as a benchmark for highlighting female business excellence in Cyprus and abroad”.
The awards were heled in the presence of Keve secretary general Philokypros Rousounides, and the president of the Limassol Chamber of Commerce and Industry Andreas Tsouloftas, who delivered opening addresses.
The chamber also noted the the attendance of former Cyprus president Nicos Anastasiades, who “congratulated the organisers and participants for their contribution to strengthening entrepreneurship”.
According to an announcement following a board meeting, the total amount of the dividend is set at €2,109,096.
This corresponds to €0.05 (5 cents) per each fully paid ordinary share.
The dividend will be paid to the shareholders of the company that will be registered in the CSE records by November 11, 2025, which is the record date.
The company’s shares will begin trading without the right to receive dividend (ex-dividend) from November 10, 2025.
Investors who purchase shares by the end of the CSE meeting on November 7, 2025 (the last cum date) will be beneficiaries of the dividend.