Bank of Cyprus Advances Strategic Share Buyback Initiative

Overview of the Share Repurchase

Bank of Cyprus has taken decisive action in its strategic share buyback program by repurchasing 339,586 ordinary shares between May 16 and May 22, 2025. This significant acquisition underscores the bank’s commitment to enhancing shareholder value and streamlining its capital structure.

Transaction Specifics and Market Details

The shares, each carrying a nominal value of €0.10, were procured on two primary platforms—the Cyprus Stock Exchange (CSE) and the Main Market of the Regulated Securities Market at the Athens Stock Exchange (ATHEX). Specifically, 59,100 shares were transacted on the CSE, while a bulk of 280,486 shares were acquired on the ATHEX. The bank’s broker, Cyprus Investment and Securities Corporation Limited (CISCO), executed these transactions.

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At its peak, the transaction price reached €6.68 per share on both exchanges. The lowest prices recorded were €6.20 on the CSE and €6.22 on the ATHEX, leading to volume-weighted average prices of €6.47 on the CSE and €6.48 on the ATHEX.

Strategic Implications and Future Outlook

This repurchase is an integral component of a larger initiative wherein the bank anticipates canceling up to €30 million worth of shares. Such a measure not only signals robust confidence in the bank’s long-term outlook but also serves as a tactical maneuver to refine its financial structure amid evolving market conditions.

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Cyprus Reduces Fuel Tax By 8.33 Cents As Prices Continue To Rise

by THEFUTURE.TEAM

April 1, 2026

The latest surge in fuel prices is putting unprecedented pressure on consumer purchasing power, forcing government intervention amid volatile global energy markets. Historic highs at the pump have compelled officials to enact further consumption tax cuts in a bid to stabilize household budgets while international trends remain unpredictable.

Government Intervention And Policy Measures

Authorities plan to approve an 8.33 cent per liter reduction in consumption tax on premium unleaded gasoline and diesel, effective from April 2026. This will be the third intervention since 2022, when fuel prices rose following the Russian invasion of Ukraine, and after a further adjustment in November 2023.

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Historical Context And Comparative Analysis

Fuel prices have increased over recent years. In March 2022, premium unleaded stood at €1.442 per liter and diesel at €1.500. By November 2023, prices rose to €1.550 for gasoline and €1.709 for diesel. As of March 2026, gasoline reached €1.571 per liter and diesel €1.819. Compared with 2023 levels, gasoline prices increased by 1.8 cents per liter, while diesel rose by 10.9 cents.

Global Market Dynamics Impacting Local Prices

International benchmarks continue to influence domestic fuel prices. Brent crude remains above $100 per barrel, while the price of heavy Brent oil has increased by about 58% since February 2026. Market indicators such as the Platts Basis Italy index show increases of 52% for gasoline, 89% for diesel, and 88% for heating oil. These trends affect import costs and pricing across the local market.

Consumer Concerns And The Search For Relief

The planned tax reduction may provide short-term relief for transport fuels. Heating oil prices remain higher, reaching about €1.30 per liter, approximately 6 cents above previous levels. No tax reduction has been announced for heating fuel. According to Konstantinos Karagiorgis, reliance on private vehicles increases the impact of fuel price changes on households, given limited public transport options.

Outlook And Future Considerations

The tax reduction is expected to offset part of the recent increase in fuel costs. Consumer groups, including the Cyprus Consumer Association, have called for similar measures on heating oil. Further developments will depend on global energy prices and geopolitical conditions.

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