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2071. Government funds not unlimited, Finance Minister warns

Finance Minister Constantinos Petrides said Monday that the government does not have unlimited funds with which to support the local economy during these tough times....

2072. 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....

2073. 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....

2074. Coronavirus derails southern Europe's clean-up from the last crisis

This year was meant to mark a turning point for Greek and Italian banks as they finally laid the ghosts of the financial crisis to rest. Then the coronavirus struck....

2075. Cyprus stays put beyond Easter

Church and state got behind scientists this week in the Republic of Cyprus, with the government extending measures beyond Easter to stop the spread of Covid-19 despite partial data suggesting a flattening of the curve...

2076. 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....

2077. 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....

2078. 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....

2079. EU procures medical equipment worth €2.5m for Turkish Cypriot community

The EU has stepped up to assist the Turkish Cypriot community in its battle against coronavirus, procuring €2.5m worth of medical equipment and mobilizing 25 medical specialists who will be sent to the north for three months....

2080. Coronavirus’ impact on local businesses

The organisation’s experts discuss the developments and analyse the measures that need to be taken to address the challenges...

2081. 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...

2082. Tax alert: Cyprus

2083. Economic sentiment deteriorates in March reflecting COVID-19 pandemic initial impact

2084. 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....

2085. 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....

2086. PwC: We support our people, clients and the society

2087. State suspends foreclosures for 3 months, requests 10% reduction in electricity fees

The government on Wednesday agreed to request from the Cyprus energy regulatory authority a 10% cut on electricity usage charges for a period of three months, in view of providing some breathing space as the island traverses the Covid-19 health crisis....

2088. Mitsotakis: 'We are at war,' with an invisible but not invincible enemy

In a televised address to the nation on Tuesday on the spread of the coronavirus, Prime Minister Kyriakos Mitsotakis echoed French President Emmanuel Macron, declaring that "we are at war." ...

2089. Elections in the north postponed for six months

Elections in the north that were set to take place in April have been postponed for six months amid mounting chain reactions of the coronavirus outbreak, Turkish Cypriot media reported on Tuesday....

2090. Cyprus scrambles as WHO declares pandemic

The World Health Organization has classified the COVID-19 outbreak as a pandemic, calling for “urgent and aggressive action” after the coronavirus spread in 114 including Cyprus and Turkey while Greece reported its first fatality...

2091. 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....

2092. Travel agents issue SOS as cancellations mount

Cancellations and minimal new bookings have brought travel agents to “the brink of disaster”, the President of the Cyprus Association of Travel Agents, Vasilis Stamataris, said in a press conference on Wednesday....

2093. The era of asymmetric threats

Kyriakos Mitsotakis would never have expected to star in a Greek edition of the perfect storm. Yet fate and events have put the Greek prime minister in charge of the country at a very crucial moment. He has shown determination in dealing with the migration/refugee issue, which has also bolstered his political image. The public was craving for a strong leader – a notion that was largely eclipsed by a sense of humiliation over the past 10 years....

2094. CEOs: Drop in Optimism and Reversal of Sentiment

2095. Coronavirus cases in Greece rise to eight

Greece has confirmed a new case of coronavirus, the Health Ministry said Wednesday, bringing the total number of coronavirus infections in the country to eight....

2096. Bomb goes off at a Limassol media outlet

Limassol police are investigating a bomb attack outside the building of a media group, which houses a number of outlets including Cyprus Times...

2097. Greece reports fourth COVID-19 case, Eurozone says 'ready to act'

As health authorities confirmed the fourth case of coronavirus in Greece on Friday, the Greek government pressed forward with its drive to contain its spread. ...

2098. Deputy Minister for Research, Innovation and Digital Policy assumes duties

Kyriacos Kokkinos officially assumed his duties on Friday as Deputy Minister for Research, Innovation and Digital Policy, a Ministry established as part of promoting the government’s digital agenda....

2099. Cyprus repays an IMF loan early, saving €13.4 million

The Republic of Cyprus fully repaid on Thursday an International Monetary Fund (IMF) loan, which had been granted to the country in the period 2013-2016....

2100. Ambitious national tourism strategy already in motion

Cyprus’ national tourism strategy, containing a set of predefined goals for each year until 2030, is already being implemented, Deputy Minister of Tourism, Savvas Perdios, said on Tuesday....