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2341. 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....

2342. 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....

2343. 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....

2344. 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....

2345. 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....

2346. 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...

2347. 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....

2348. 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...

2349. 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....

2350. 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....

2351. 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....

2352. '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. ...

2353. 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....

2354. 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....

2355. 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....

2356. 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....

2357. 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....

2358. 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...

2359. Tax alert: Cyprus

2360. Economic sentiment deteriorates in March reflecting COVID-19 pandemic initial impact

2361. EU leaders call for recovery plan

Cypriot President Nicos Anastasiades took part in a video conference with the EU leaders, as the bloc sought to find common ground on how best to share the burden...

2362. 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....

2363. North stocking up on medical supplies

More cases in the north are being released from quarantine while others test positive, as Turkish Cypriot authorities see medical supplies and financial support starting to pour in...

2364. Now is the time for remote and online payments

For more than 30 years, JCC has been supporting businesses and the financial services sector in Cyprus, guided by the central premise of security and reliability in every type of service JCC has been providing...

2365. 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....

2366. 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...

2367. President: Partial lockdown of airports, schools to remain closed until April 10

President Nicos Anastasiades addressed the nation on Friday night after the week saw cumulative confirmations of coronavirus cases across the divide....

2368. 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....

2369. 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....

2370. Education Ministry cancels all school trips abroad

The Ministry of Education announced on Friday it will be cancelling all school trips abroad scheduled during March and April....