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1261. Over 23,000 applications filed for suspension of loan payments

More than 23,000 persons have applied to the island’s two largest banks for a suspension of loan repayments, as retail borrowers and companies are trying to preserve disposable income amid the economic activity shutdown due to the coronavirus pandemic....

1262. Employers and Employees in the age of Covid-19: A looming battle

In modern times the world community has not faced a situation like the present, created by the Covid-19 pandemic. The Republic of Cyprus is among many countries fighting desperately to minimize damage on all fronts....

1263. Euro zone ministers look for economy quick fixes

Euro zone finance ministers are likely to converge on Tuesday on three quick options to support the economy in the wake of the coronavirus epidemic, officials have said, with some discussion also of longer-term ideas to aid a recovery....

1264. Israel-Cyprus medical cooperation and innovation in the time of coronavirus

The world’s population is currently facing a major crisis. Governments are taking drastic measures to curb the spread of the Coronavirus. The first priorities are to take preventive measures, to provide the best possible life saving medical care and to maximize the scientific capabilities to face the epidemic. Steps are taken also to minimize the economic impact....

1265. Corporate Social Responsibility and Corporates’ response to COVID19

The long-term debate over CSR is concerned with whose interests should be attended to, shareholders or stakeholders, and this is actually the debate of the two competing theories over the purpose of the modern business firm...

1266. Cyprus okays drugs with one big caveat

The Cypriot health minister says a special committee is moving forward with procedures to make drugs available against the COVID-19 disease, while warning that no medicines have been approved for treatment of the novel coronavirus...

1267. Tax alert: Cyprus

1268. Cyprus evaluating effectiveness of chloroquine drug against coronavirus

A consultative committee of experts at the Cyprus Ministry of Health is evaluating the effectiveness against coronavirus of the drug chloroquine, used to treat coronavirus in China and widely available in Cyprus....

1269. Loan payments to be suspended for nine months

After over two weeks of discussions between the Ministry of Finance, the Ministry of Labor, the Central Bank, the Association of Cyprus Banks and other financial entities to minimize the impact of coronavirus on the Cyprus economy, white smoke has emerged with all parties agreeing that payoffs for all types of loans are to be suspended for nine months....

1270. Government considering to give banks €2b in state guarantees to unlock credit

The Cyprus government is considering a plan to provide state guarantees to banks amounting to €2 billion, in a bid to unlock credit to self-employed, small and medium-sized enterprises and large corporations hit by the coronavirus epidemic....

1271. Financial measures tackle coronavirus in Cyprus

Measures of Financial Support to address the Impact of the Coronavirus have been announced by the Government of the Republic of Cyprus...

1272. Officials cave in after airport tension

Government officials got a taste of their own medicine on Monday after students who flew in without complying with the latest coronavirus guidelines were granted an exception after hours of tension at the airports and inside the plane...

1273. Flights booked solid before 6pm deadline

Daytime flights from Athens to the Republic of Cyprus were sold out on Monday after the government said new arrivals on evening flights after 6pm would not be allowed into the country without a valid health certificate...

1274. Cyprus confirms three new coronavirus cases, total hikes to 10

The Republic of Cyprus saw three additional confirmed coronavirus cases on Thursday evening, raising the total to 10. A second COVID-19 case was also confirmed in the north earlier in the day...

1275. Government to step in with financial injections

The Finance Minister is expected to announce a bundle of support measures for companies, consumers, and workers affected by the coronavirus outbreak on the island....

1276. Health Minister issues decree banning gatherings of over 75 persons

A decree issued by the Health Minister on Wednesday solidified the government decision to ban public and private gatherings of over 75 persons....

1277. Anastasiades participates in teleconference on COVID-19

Cyprus President Nicos Anastasiades participated on Monday along with seven other heads of government in a teleconference to discuss measures to deal with the COVID-19 outbreak. ...

1278. Mixed reviews on anti-money laundering

A US State Department anti-money laundering report on Cyprus includes fewer negative references but still points to vulnerabilities in the island’s financial services and gaming sectors...

1279. EAC vows to credit back overcharges

An undisclosed number of property owners in the Republic Cyprus were overcharged on their electricity bills in recent months, with the Cyprus Electricity Authority vowing to right a wrong in future billings...

1280. Fourth Italian dies from coronavirus in worst flare-up outside Asia

A fourth person infected with the coronavirus has died in Italy, officials said on Monday as the government struggled to contain an outbreak of the illness and financial markets slid on fears over the economic impact....

1281. Cyprus and Norway prepare to sign energy MoU

Cyprus and Norway began preparations on Friday to sign a Memorandum of Understanding (MoU) on energy issues, that will contain provisions for the exchange of expertise in relation to the national hydrocarbon fund (sovereign fund), among other things....

1282. 85 UEFA red notices received by Cyprus police since 2011

Cyprus police have received a sum of 85 red notices from UEFA since 2011 over football match fixing suspicions, Chief of Police Kypros Michaelides told the House Ethics Committee, which convened to discuss the urgent matter of establishing a National Action Plan to combat corruption in sports....

1283. Cyprus a central hub of European match-fixing network

An extensive and revealing report published in the Spanish news outfit El Confidencial identified Cyprus match-fixing as a central hub of European football corruption....

1284. Greek-US ties and the East Med

By Lieutenant General Thomas Trask On the occasion of his meeting last month with President Donald Trump in Washington, Prime Minister Kyriakos Mitsotakis remarked how the US-Greece relationship “is the best it ever was. But it can become even better.”...

1285. Israeli investment announced for Larnaca port

Transport Minister Yiannis Karousos hinted at a deal with Israeli investors, saying they are ready to throw 1 billion at Larnaca’s port project...

1286. Turkish clothes makers see orders shifting from coronavirus-hit China

Several fashion retailers that manufacture clothing in coronavirus-hit China are in talks with Turkish firms about shifting production to Turkey, two sector officials told Reuters, with one predicting new orders worth up to $2 billion....

1287. Football and Money Laundering

It has been identified years back at European and global level, that sports and especially football is being used by criminals to launder dirty money and derive illegal income...

1288. EU diplomats to impose sanctions on two Turks over Cyprus EEZ drilling

Cyprus, Turkey, EU, drilling, EEZ, sanctions...

1289. Accounting profession the pillar of powerful economies

1290. Cyprus, Lebanon begin preparations for first Trilateral Summit

Cyprus and Lebanon have begun preparations for the first Trilateral Summit at the level of Heads of State and Government, to be held in Nicosia in the spring, the Foreign Minister Nicos Christodoulides announced on Friday...