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421. A grim five years for Greek tourism

Greece may not repeat the tourism arrivals and revenues record of 2019 before 2025, according to an Ernst & Young report on the effects of the pandemic on Greek tourism, heralding a five-year crisis for the sector. This year alone the local industry is set to lose about 10 billion euros, it said....

422. Businesses pursue strategies for turning challenges into opportunities

The results of the third round of the CFO Pulse survey conducted by PwC on the effects of COVID-19 on businesses and the wider economy reveal that 46% of CFOs believe that if COVID-19 were to end today, their company could get back to “business as usual” within three months...

423. Greece will be better prepared for second wave of Covid-19, PM says

Greece will be better prepared if the coronavirus pandemic resurfaces in fall, Prime Minister Kyriakos Mitsotakis said on a television interview on Sunday night....

424. Cyprus to foot the bill for infected tourists

The Republic of Cyprus is pledging to cover all costs for anyone testing positive for the coronavirus while on vacation on the eastern Mediterranean island nation...

425. Repair and Prepare: EU unveils €750 bln plan for coronavirus recovery

The European Commission unveiled on Wednesday a plan to borrow on the market and then disburse to EU countries 750 billion euros in grants and loans to help them recover from their coronavirus slump, giving an immediate boost to the euro....

426. Greece to welcome Germans, Cypriots, Israelis in first wave of visitors

Greece will allow travelers from around two dozen countries including Germany, Cyprus and Israel to visit from mid-June without having to be quarantined, government officials said, part of a gradual easing of coronavirus lockdown restrictions....

427. Cyprus all set to receive tourists from June 15

The Deputy Tourism Ministry is all set to open the Cyprus tourism market as of June 15....

428. Cyprus football leagues officially called off

This year’s first and second division local football leagues were officially called off on Friday, an announcement by the Cyprus Football Association confirmed....

429. Companies in Cyprus ready for the new norm

CFOs in Cyprus appear more pessimistic in the second round of the survey conducted by PwC on the effects of COVID-19 on businesses and the wider economy...

430. Exit roadmap foresees economy on recovery path by Q3 2020

Finance Minister Constantinos Petrides said Thursday that the government’s lockdown exit roadmap, aspects of which were presented by the President on Wednesday night, aims to see the island’s economy on the path of recovery by the fourth quarter of this year....

431. Effects of COVID-19 on businesses, wider economy

The results of the PwC Cyprus Pulse Survey on the effects of COVID-19 on businesses and the wider economy, which was conducted with the participation of 45 CFOs from Cyprus, were made public today...

432. Sports betting industry crushed by coronavirus

OPAP, Europe’s fourth-biggest betting business, has had almost all its revenue wiped out following the coronavirus pandemic lockdown measures in Greece and Cyprus, after casino operations in the Republic came to a grinding halt...

433. CEOs: Drop in Optimism and Reversal of Sentiment

434. Police presence to be boosted on roads to curb fatalities

The issue of serious and fatal road accidents was discussed on Wednesday in a broad meeting at the Presidential Palace, chaired by President Nicos Anastasiades, with the participation of all relevant Ministries and agencies....

435. Cavusoglu slams Akinci after comment that Turkey-north annexation would be 'horrible'

“I’ve never worked with a more unreliable politician,” the Turkish Foreign Minister Melvut Cavusoglu said on Monday, referring to the Turkish Cypriot leader Mustafa Akinci in response to an interview where Akinci said the prospect of Crimea-style annexation with Turkey was “horrible”....

436. Cooperation required to fully reap energy rewards

437. President’s air travel under scrutiny

Cypriot President Nicos Anastasiades is firing back at critics saying his use of a private jet owned by a Saudi billionaire has actually saved the state a lot of money, while opposition parties raise fears of dependency and quid pro quo with foreign donors...

438. Fuel targets rehash gas price debate

Consumers are crying foul over rising gas prices at the pump, with some resorting to crossing the checkpoints to fill up in the north as the government draws criticism for failing to meet EU energy goals...

439. Foreign powers back Libya ceasefire

Foreign powers agreed at a summit in Berlin on Sunday to shore up a shaky truce in Libya, but the meeting was overshadowed by blockades of oilfields by forces loyal to commander Khalifa Haftar that could cripple the country’s crude production...

440. Battle of grievances in Akamas fire aftermath

Wednesday’s fires have been put out in Akamas national park, leaving behind an enormous environmental disaster but also allegations against groups ranging from local dissenters to hunters from the east coast...

441. Cyprus signs deal for offshore gas concession

Cyprus and the Aphrodite consortium on Thursday signed an exploitation license and a revised production sharing contract, aiming to start natural gas production in 2025, generating projected revenues of $9.3 billion for a period of eighteen years ...

442. «Growth momentum moderates» in Cyprus according to Εuropean Commission Autumn Economic Forecast

"Growth momentum moderates" in Cyprus, according to the headline assessment of the European Commission`s Autumn Economic Forecast for the country, presented today by Commissioner Moscovici in Brussels....

443. Revenue from ship management dips

Ship management revenues decreased in the first half of 2019 by €5 million, according to the results of the Ship Management Survey for the first half of 2019, concerning the transactions of resident ship management companies published Wednesday by the Central Bank of Cyprus...

444. EY climbs World’s Best Workplaces list

EY has been named the #1 professional services employer for the fourth consecutive year in Universum’s 2019 “World’s Most Attractive Employers” annual ranking – moving up one place on 2018 to become the second most attractive employer overall...

445. Cyprus to start process for early repayment of IMF loan, Finance Minister announces

Finance Minister Harris Georgiades announced on Tuesday that an official process will be launched for the early and full repayment of an IMF loan, following the repayment of a loan from Russia....

446. Financial Services towards Artificial Intelligence and Machine Learning

Artificial Intelligence in general and machine learning in particular, is not a new concept, but it is only in recent years that financial services firms have started to learn about and understand its full potential...

447. Attracting investments, relations with Turkey: A new chapter?

On a diplomatic level, the main event was Mitsotakis’ meeting with Turkish President Recep Tayyip Erdogan. The two leaders discussed all the major issues. Aside from the chronic Cyprus dispute, where the situation has become even more complicated following the discovery of gas deposits, one of the most pressing issues at the moment is migration. ...

448. Cyprus fiscal surplus at 4.3% of GDP

Cyprus general government surplus was at 4.3% of GDP in the first eight months of 2019, mainly due to the increase in social contributions and revenue from taxes, according to the preliminary General Government fiscal results for the period of January-August 2019 released Friday by the Statistical Service of Cyprus. ...

449. Anastasiades: We accept political equality

In this context and following a call from the Secretary General for an agreed basis for the resumption of negotiations, there is an understanding by the leaders of the two communities that the relevant “Terms of Reference” should comprise the following elements: ...

450. Cyprus to fully repay IMF loan in 2020

According to figures from the 2020 budget presented by Finance Minister Haris Georgiades to the Cabinet, Cyprus will repay the IMF loan early resulting in government debt reduction to 91.1% of GDP ...