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Farewell, Skype: Microsoft Calls Time on the Iconic App

Everything good comes to an end. As of May 5, Microsoft has ended support for Skype, nearly 15 years after acquiring the European VoIP provider from eBay for $8.5 billion.

Skype Farewell
Photo: Getty Images

Key Facts

  • Jeff Teper, President of Collaborative Apps and Platforms at Microsoft, announced the decision to cease the service, aiming to optimize user communication products.
  • Once a pioneering platform for HD voice and video calls, Skype was an early leader in online communication.
  • Skype, initially developed by Skype Technologies, was acquired by eBay in 2005.
  • Despite surpassing 400 million users in 2008, Skype began losing its competitive edge.
  • In 2011, Microsoft acquired Skype for $8.5 billion, paving the way for the app’s current scenario.
  • Ending support for Skype has sparked nostalgia among its extensive user base.

What You Should Know and Microsoft’s Reason

Skype was once a premier VoIP service for global connections, allowing both free and paid communication. As Microsoft shifts focus to Microsoft Teams, Skype’s user experience and features will be incorporated into this modern hub.

Microsoft Teams, which has seen significant user growth, will now carry forward Skype’s legacy features, offering enhanced capabilities.

What Happens to Your Skype Account?

All Skype contacts and chats will seamlessly migrate to the free version of Microsoft Teams. Active subscriptions and credits remain usable through Skype Dial Pad, accessible via the web or Teams.

Financial Upswing: Cyprus Deposits Surge by Nearly €0.5 Billion in April 2025

April 2025 marked a significant financial turn for Cyprus as net deposits soared by €492.9 million, a stark contrast to the net decrease of €66.3 million in March, according to the Central Bank of Cyprus (CBC). This uptrend resulted in deposits reaching a robust total of €56.1 billion.

Key Contributors to Growth

Cypriot residents played a pivotal role in this growth, with their deposits rising by €410.5 million. Household deposits alone surged by €172.2 million, while non-financial corporations contributed another €173.1 million. An additional €65.2 million was garnered from other domestic sectors.

Loan Activity: A Comparative Snapshot

In terms of loans, April saw a net increase of €169.1 million, though this was a tapering from March’s €429.9 million hike. However, the annual loan change rate climbed to 4.9% from the previous 3.1%, highlighting a balanced financial environment.

For more insights on financial trends impacting Cyprus, consider exploring how Cyprus’s labor market is strengthening. Stay tuned for more updates on how these trends affect various sectors.

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