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1921. 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...

1922. The growing complications of the reopening of checkpoints

The discussion for the reopening of checkpoints will be anything but an easy feat, as in addition to the role played by the epidemiological situation, the matter is inevitably being politicized in view of ‘elections’ set to take place in the north, but also in light of the UNSG’s report expected around the end of June....

1923. 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....

1924. Racism, xenophobia rife in Cyprus, refugees say

A teleconference on Tuesday raised the multifaceted problems faced by refugees and asylum seekers on the island, such as racism and xenophobia, hardships during the coronavirus pandemic, and difficulties with integrating into Cyprus society....

1925. 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....

1926. 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....

1927. Mass deportations underway in Cyprus

The Republic of Cyprus has begun expelling foreign nationals who have been turned down for asylum, citing concerns over security threats and changing demographics due to a migration crisis...

1928. Evidence destroyed in Edek probe

A political party in the Republic of Cyprus is at the centre of a new investigation into possible obstruction of justice, after it emerged that important evidence into an ongoing probe had been destroyed...

1929. New chapter in store for old Orphanides mall

The Bank of Cyprus is reportedly sounding out the government on a potential mega deal in west Nicosia, with ideas thrown around for the old Orphanides Mall to become a business centre or a medical facility...

1930. Cyprus football leagues officially called off

This year’s first and second division local football leagues were officially called off on Friday, an announcement by the Cyprus Football Association confirmed....

1931. The market needs oxygen, FinMin says

The market needs oxygen, Finance Minister Constantinos Petrides said Monday, stressing that the least citizens expect from politicians is to reach a consensus in order to support the economy in line with a prudent policy without placing it in further danger....

1932. President and Education Minister brush off mounting concerns

As concern mounts over the Cyprus government’s decision to send children back to school on May 21, Education Minister Prodromos Prodromou issued a press conference Friday morning to clarify how the return of students to classrooms will play out....

1933. Cabinet approves new bundle of support measures

The Cabinet on Thursday approved a new bundle of support measures for businesses to keep the economy afloat after the slowdown brought about by the coronavirus outbreak....

1934. Eurozone set for record recession, EU Commission warns

The eurozone economy will contract by a record 7.7 percent this year because of the Covid-19 pandemic and inflation will almost disappear while public debt and budget deficits will balloon, the European Commission forecast on Wednesday....

1935. Half of Cyprus population unable to cope with unexpected expenses

Almost half (48%) of the populations of both Cyprus and Greece were unable to cope with unexpected financial expenses last year, data released by the European statistical service (Eurostat) on Tuesday showed....

1936. 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...

1937. 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....

1938. 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...

1939. Full rollout of General Health System to be delayed three months

With state hospitals busy wrestling with the island’s coronavirus outbreak, the full rollout of the General Health System, initially planned for June, won’t be taking place until September....

1940. Cyprus to prepare three-stage coronavirus exit strategy

The Cabinet on Wednesday approved the island’s lockdown exit strategy, which foresees the resumption of the operation of vital sectors of the economy in early May....

1941. Civil society group launches petition demanding government covers rent, utility bills

A civil society group that formed in Cyprus amid the coronavirus outbreak to address urgent social concerns that have slipped through the cracks of the government’s support package launched a petition on Wednesday demanding that the government moves to cover rent and suspend utility expenses....

1942. 'We've learnt nothing' from euro crisis, ex EC president Juncker says

In an interview with Politico's Brussels Playbook, former European Commission President Jean-Claude Juncker has expressed his disappointment over the discord that emerged between euro zone countries in their attempts to come up with a joint response to the economic fallout of the coronavirus pandemic. ...

1943. Supreme Court: public sector pay cuts during financial crisis constitutional

The Cyprus Supreme Court on Friday overturned earlier rulings by the Administrative Court, finding that cuts made to public sector employees’ salaries and pensions during the economic crisis of 2013 were in accordance with the Constitution....

1944. 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....

1945. Covid-19 death toll in Greece rises to 81

Greece’s coronavirus toll has risen to 81 with the death of a 42-year-old man in the northern port city of Thessaloniki and of an 84-year-old woman in Athens....

1946. 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....

1947. President: stricter measures necessary, but undergoes 'severe crisis of conscience'

In a Facebook post on Tuesday President Nicos Anastasiades said he undergoes “a severe crisis of conscience” every time the Government is required to enforce stricter measures to contain the coronavirus pandemic, but said that current circumstances necessitate that tougher measures are taken....

1948. 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...

1949. Tax alert: Cyprus

1950. Economic sentiment deteriorates in March reflecting COVID-19 pandemic initial impact