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1321. 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...

1322. EU governments risk clash with EU exec in bid to save tourism season

European Union governments risk a clash with the EU executive arm over their support for travel firms issuing vouchers for cancelled holiday deals without giving customers the option of cash refunds as required by EU law, diplomats said....

1323. Attorney general weighs in on casino probe

The identity of foreign companies suspected of embezzlement of EU funds pumped into a casino project in Cyprus remains unknown, with the island’s legal department clarifying there is no evidence of local companies being involved in illegal activity...

1324. Lagarde draws line on how far ECB largesse can go

European Central Bank President Christine Lagarde drew the line on how far the ECB could go in helping virus-stricken eurozone countries on Wednesday, saying lending to governments directly would be illegal and handing out cash to citizens difficult....

1325. Turkey: ‘Maximalist and uncompromising attitude’ of Greece and Cyprus threatens regional peace

Turkey has reacted to Greece’s condemnation Tuesday of the country’s newly declared drilling within the exclusive economic zone (EEZ) and continental shelf of the Republic of Cyprus....

1326. Chloroquine hype begins to wane

More doubts over chloroquine emerged this week, with new studies pointing to high risks and a US top health official saying he was fired after being pressured to direct money towards the “game changer” drug...

1327. Greece condemns Turkey’s drilling intentions in Cyprus’ EEZ

Greece on Tuesday condemned Turkey’s announced intention to continue drilling inside Cyprus’ exclusive economic zone (EEZ), saying it ignores calls by the international community to respect international law....

1328. EU says coronavirus tracking apps should avoid storing data on servers

Mobile apps to track coronavirus cases in Europe should keep as much data as possible on the user’s device rather than in a central server to best maintain individual privacy, an EU document says....

1329. Expert tells shoppers 'no need for testing'

A local health expert tells consumers there is no need to rush and get tested if they shopped at a supermarket where an employee tested positive for the coronavirus...

1330. We will defeat our shared pandemic enemy and rise stronger in its wake

The story of U.S. leadership in the global battle against Covid-19 is a story of days, months, and decades. Every day, new U.S. technical and material assistance arrives in hospitals and labs around the world. These efforts, in turn, build on a decades-long foundation of American expertise, generosity, and planning that is unmatched in history....

1331. Government to spend €850m in direct support until June

The Cypriot government announced the extension of measures to companies and self-employed persons hit by the coronavirus outbreak until June 12, increasing direct support to €849 million or 3.5% of GDP....

1332. President: Lockdown measures extended until end of April

Lockdown and other measures in place to contain the coronavirus outbreak will be extended until April 30, with no exceptions to be made during the Orthodox Easter period, President Nicos Anastasiades said in his televised national address on Wednesday night....

1333. 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....

1334. 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....

1335. 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....

1336. 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....

1337. 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...

1338. 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...

1339. Tax alert: Cyprus

1340. 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....

1341. 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....

1342. 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....

1343. 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...

1344. 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...

1345. 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...

1346. 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...

1347. 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....

1348. 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....

1349. 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. ...

1350. 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...