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121. Loan restructurings in the Cyprus reached almost €2 billion due to Covid

Loan restructurings in the Cypriot banking system edged close to €2 billion in the first ten months of 2021, marking the highest figure according to Central Bank of Cyprus (CBC) records which began in end-2014....

122. Employers must pay at least 28 euros per month to teleworking employees in Greece

Employers will have to pay a minimum compensation of 28 euros per month to each of their employees who are teleworking,...

123. EY presents the 17th CFO Management Forum and the CFO Awards 2021

EY has proudly sponsored the 17th CFO Management Forum and 5th CFO Awards, which were held on Tuesday, September 28th at the Nicosia Hilton....

124. K. Treppides & Co Ltd: Renewed European finance strategy and implementation of the action plan on financing sustainable growth

The European Commission adopted on 21 April 2021, a comprehensive package of measures to help improve the flow of money towards financing the transition to a sustainable economy, whereas these measures will be instrumental in reaching climate and environmental targets as well as vital for economic recovery from the COVID-19 pandemic. ...

125. Another 85 million by February if Cyprus meets deadline of key reforms

With the first 157m euros already paid in advance from the Cyprus Recovery and Resilience Fund, the country still has a long way to go to complete the reforms and investments required to unlock the next 85m euros which is due to be received in February 2022....

126. Cyprus unveils 'ambitious' stimulus plan

Cypriot President Nicos Anastasiades has called on the new parliament after elections as well as industry leaders to support an ambitious €4.4 billion economic stimulus plan, saying it will lead the country into a new era...

127. Cabinet approves €250m supplementary pandemic budget

The Cabinet on Wednesday approved a supplementary budget of €250 million to cover needs arising from the handling of the pandemic. ...

128. Hotels cry foul over ban on local stays

The Association of Cyprus Tourist Enterprises is calling on the government to terminate a ban on hotel stays by locals, saying overnight lodging for island residents should be allowed after restaurants also opened this week...

129. Coordination for green digital transition needed, Kokkinos says

Deputy Minister of Research, Innovation and Digital Policy, Kyriakos Kokkinos stressed the need to coordinate actions and investments at national and European level to achieve the EU's goals "for a sustainable, digital and green transition, empowering businesses with an emphasis on the SME and start-up ecosystem, and ensuring EU technological dominance", during his intervention at the informal teleconference of the Competitiveness Council for Research, under the Portuguese Presidency....

130. Government announces new housing schemes and incentives

New housing schemes and incentives with an emphasis on rural areas and young people were announced on Wednesday by the government....

131. Policy priorities unaffected by pandemic, FinMin says

Despite the crisis of the Covid-19 pandemic Cyprus’ economic policies remain the same, targeting macroeconomic and financial stability, prudent fiscal policies, and establishing a competitive, business-friendly regulatory environment of high standards, Minister of Finance Constantinos Petrides said on Thursday....

132. Cyprus parliament approves legislation for social enterprises

Parliament on Thursday passed into law a bill allowing social enterprises to be set up in the Republic of Cyprus....

133. Network resilience in a post-pandemic world

While telcos have largely risen to the challenge of withstanding a surge in network demand during the COVID-19 pandemic, pressure to maintain infrastructure resilience and expand reach emerges as the most pressing sector challenge...

134.  EY announces the win of three 2020 Microsoft Global Partner of the Year Awards

135. 5G wars over Cyprus rage on

The Chinese Embassy in Cyprus accused Washington over the weekend of “openly coercing” Nicosia and other allies into keeping out Chinese companies in setting up 5G networks...

136. Cyprus records deficit of €800 million in Q2

Cyprus General Government posted a deficit of €800 million in the period of April – June 2020 compared to a surplus of €140 million in the respective period of last year, according to data released today by the Cyprus Statistical Service (Cystat)....

137. EY Attractiveness Survey Cyprus 2020

EY Attractiveness Survey Cyprus 2020: Investors are optimistic about the country’s attractiveness over the coming years, but state that there is room for improvement...

138. Limassol police uncover criminal enterprise

Limassol police are a step closer to uncovering a well-organized criminal enterprise in Limassol, following the arrest of three suspects in connection with burglaries and robberies in over a dozen cases...

139. 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....

140. 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....

141. 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. ...

142. FinMin delves into details of 'new, more targeted measures'

Finance Minister Constantinos Petrides held a press conference on Thursday to delve into the details of the new bundle of economic support measures announced by President Nicos Anastasiades in a televised national address Wednesday night....

143. President unveils new stimulus package

President Nicos Anastasiades announced on Wednesday a new set of measures to support tourism, businesses, and the self-employed workers that took a hit in the coronavirus pandemic...

144. 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...

145. Govt announces 2,000 more tests for employees

The government announced on Friday that it will be shouldering the cost of an additional 2,000 coronavirus tests for nursing home staff and employees working in the supply chain of food and beverage businesses....

146. First easing of restriction measures probably on May 4, Health Minister says

If the situation continues down its current course, we can expect the first loosening of restriction measures to take place on May 4, Health Minister Constantinos Ioannou said Friday....

147. EU investigators follow the money to Cyprus

Cyprus came on the European Anti-Fraud Office’s radar this week, after it emerged that money allegedly stolen from an environmental project was diverted to a casino project on the island...

148. 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...

149. 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....

150. 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....