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2101. LNG terminal project marks new era for Cyprus

The infrastructure for the introduction of liquefied natural gas for electricity generation places Cyprus on track for a new energy era, opening new strong prospects for the island’s economy, President of the Republic Nicos Anastasiades said on Thursday...

2102. Pandemic's impact on tourism poses significant risks to Cyprus economy

The European Commission’s summer economic forecast expects significant risks to the Cyprus economy as a result of the coronavirus pandemic’s impact on the tourism sector, which is predicted to see just 25% of last year’s revenues and high unemployment....

2103. Moody's: Payment holidays shield Cyprus banks in 2020, but deterioration likely in 2021

Around one third of Cyprus banks’ gross loans were deferred as a result of the coronavirus pandemic, the Moody’s rating agency said Monday, noting that while the payment holiday may shield local banks in 2020, asset quality deterioration is “still very likely next year.”...

2104. Cyprus based company KRU Overseas continues to supply coal to Cyprus domestic market

KRU Overseas Ltd., a global supplier of high-quality coal, continues to supply coal to Cyprus heavy industry leader, Vassiliko Cement Works Public Company Ltd....

2105. US ambassador sees opportunities in Cyprus

US Ambassador to Nicosia Judy Garber says the pandemic aftermath in Cyprus could be seen as an opportunity for the island, praising officials for managing the crisis and calling the country a “fantastic place for people” to do business...

2106. Commission approves €6.3m incentive scheme to boost Cyprus air connectivity

The European Commission on Thursday approved a €6.3 million incentive scheme aiming to boost Cyprus air connectivity and tourism through incentivizing airlines affected by the coronavirus outbreak to re-establish air routes to and from the island....

2107. Greece reopens regional airports, says Covid-19 risk calculated

Greece reopened its regional airports to international flights on Wednesday, pinning its hopes on a recovery in tourism after a three-month lockdown....

2108. Greece to open seven border crossings with Balkan countries, Turkey

Greece will reopen seven of its 14 border crossings in the north on Wednesday, as part of the country’s further reopening to tourists from abroad....

2109. Global coronavirus cases top 10 million; deaths surge past 500,000

The world surpassed two sobering coronavirus milestones Sunday -- 500,000 confirmed deaths, 10 million confirmed cases -- and hit another high mark for daily new infections as governments that attempted reopenings continued to backtrack and warn that worse news could be yet to come....

2110. All set for implementation of new support measures, FinMin says

Finance minister Constantinos Petrides announced the launch of the implementation of three measures, under the government support program, to address the consequences of the coronavirus pandemic....

2111. North sending mixed signals over opening to Turkey on July 1

The Turkish Cypriot administration was giving off mixed signals over plans to restore connectivity with Turkey on July 1, with head of the administration Ersin Tatar stating Thursday it had decided to stick to the decision and double-check arrivals for the virus, contradicting statements made Wednesday by Kudret Ozersay, in charge of foreign affairs in the north, who said that the administration had failed to reach a final decision and was considering to re-evaluate the move....

2112. No progress among EU leaders on virus recovery deal

European Union leaders found that a quick deal on the bloc's future long-term budget and a multibillion-euro post-pandemic recovery plan remained beyond their reach Friday as the coronavirus ravages their economies....

2113. 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....

2114. Cyprus FM holds telephone conversation with new Iraqi FM

Cyprus Foreign Minister Nikos Christodoulides shared on Thursday a telephone conversation with the new Foreign Minister of Iraq Fuad Hussein...

2115. Five new support schemes announced as Cyprus enters recovery stage

The five new economic support measures budgeted at 150 million euros that aim to cushion the blow of the coronavirus pandemic as Cyprus enters the stage of recovery were submitted before the cabinet on Tuesday....

2116. Post-lockdown jump in coronavirus cases rattles Turkish officials

Turkey may have to adopt a harder line on social interactions following a worrying jump in coronavirus infections but it has no plans to reverse an easing of lockdown restrictions aimed at reviving the economy, officials say....

2117. 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...

2118. Cyprus the highest climber in IMD 2020 World Competitiveness Ranking

Cyprus was the highest climber in the 2020 IMD World Competitiveness Rankings, marking an improvement in all four categories that make up the overall ranking....

2119. 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....

2120. Anastasiades asks EC President for greater support

In a phone conversation on Sunday evening, Cyprus President Nicos Anastasiades asked European Commission President Ursula von der Leyen for greater support in dealing with the multifaceted problems faced by the island....

2121. Cyprus gets tough on golden passports

A House emergency bill that could allow authorities to revoke dozens of Republic of Cyprus “golden passports” is said to eliminate grey areas that so far prevented the state from revoking ill-gotten investor citizenships...

2122. EU to ease virus travel bans from July 1, but not to all

The European Union on Thursday announced plans to ease a ban on nonessential travel to the continent, with foreign students, non-EU nationals who normally live in Europe and certain highly skilled workers likely to be exempt from the coronavirus restrictions from July 1....

2123. KPMG launches series of technical webinars

2124. Greece and Italy sign ‘historic’ maritime borders accord

Greek Foreign Minister Nikos Dendias and his Italian counterpart Luigi Di Maio on Tuesday inked a maritime borders agreement delimiting an exclusive economic zone (EEZ) between the two countries....

2125. Preservation of jobs a priority, dep. government spokesman says

The government is determined to do everything in its power to prevent the loss of jobs, deputy government spokesman Panayiotis Sentonas said Friday....

2126. Finance minister makes the case for Cyprus

Finance Minister Constantinos Petrides is confident the tourism industry in the Republic of Cyprus won’t have a catastrophic year following the pandemic, while calling on Europe to step up its recovery plan equally across the board...

2127. Cyprus public debt spikes to €24.5 billion due to Covid-19 crisis

Cyprus General Government debt spiked to €24.56 billion according to official data in April, reflecting the large debt issuances by the Finance Ministry to mitigate the impact of the coronavirus outbreak to the economy....

2128. Market sentiment looking up, FinMin says

Market sentiment is looking up, Finance Minister Constantinos Petrides said Tuesday after a broad meeting at the Presidential Palace between President Nicos Anastasiades and representatives of financial institutions....

2129. Lawmakers to vote on budget for new support measures

The Finance Ministry will be seeking lawmakers’ green light for the supplementary budget of €220 million involving a string of measures to keep the economy afloat after the slowdown brought about by the coronavirus pandemic. ...

2130. Cyprus scores Wizz Air base in Larnaca

Cypriot aviation scored a big win this week after Wizz Air said it would turn Larnaca airport into a base, as the island is trying to restore connectivity and the airline industry going through a hygiene makeover...