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541. 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....

542. Cyprus to host next trilateral meeting of Greek, Cyprus, Israel FMs

Cyprus will host the next trilateral meeting of the foreign ministers of Cyprus, Israel and Greece, the Cyprus foreign minister Nicos Christodoulides agreed with his Israeli counterpart during a visit to Israel on Tuesday....

543. 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...

544. Mitsotakis makes Israel his first destination

Greek Prime Minister Kyriakos Mitsotakis is traveling to Israel today on his first foreign visit since the coronavirus outbreak. The message is clear, and it is being sent out in several directions. After deepening their mutually beneficial relationship (which is not aimed at any third country) for a decade, Greece and Israel are pushing ties to a new level....

545. Pandemic highlighted urgency of tackling climate challenges

While the coronavirus crisis has highlighted our vulnerabilities as a globally connected society, the recognition of the need to stabilize our climate and protect biodiversity preceded the current crisis by many years, Wolfgang Cramer, Scientific Co-Director of the Mediterranean Institute of Marine and Terrestrial Biodiversity and Ecology (IMBE), said Friday....

546. Cyprus 'golden visa' scheme returns to spotlight

Cyprus’ controversial citizenship-by-investment scheme was thrust into the spotlight once again after the investigative journalism platform Organized Crime and Corruption Reporting Project (OCCRP) published an in-depth report on the granting of a ‘golden passport’ to a senior member of the Saudi royal family and six of his family members....

547. Companies in Cyprus ready for the new norm

CFOs in Cyprus appear more pessimistic in the second round of the survey conducted by PwC on the effects of COVID-19 on businesses and the wider economy...

548. 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....

549. 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....

550. Bulgaria wants in on EastMed energy cooperation

Bulgarian President Rumen Radev said on Tuesday that his country wishes to cooperate within the framework of the trilateral mechanism among Cyprus, Greece, and Israel in the energy field, adding that Bulgaria is geographically a natural continuation of these three countries....

551. InvestCyprus creates specialized unit to help achieve 2030 tourist targets

InvestCyprus, the island’s organization responsible for attracting foreign direct investment, announced the creation of a specialized unit in a bid to facilitate efforts to achieve Cyprus’ National Tourist Strategy for 2030, which aims at attracting 5 million tourists by 2030....

552. End of 2019 sees historic high in investment funds assets

Investment funds’ assets reached a historic high at the end of 2019, data released by the Cyprus Central Bank on Thursday showed....

553. Α defeat in the Cyprus Courts for Promsvyazbank

Clients of the Russian bank Promsvyazbank, which maintained a branch in Cyprus until the Central Bank revoked its license, won a small victory over the bank by bringing the case to court in Cyprus...

554. Limassol’s trade enabler gets new CEO

The appointment of a new CEO at DP World Limassol is expected to give the company a new impetus, after a year of investing and upgrading infrastructure and equipment...

555. Football and Money Laundering

It has been identified years back at European and global level, that sports and especially football is being used by criminals to launder dirty money and derive illegal income...

556. In Paris visit, Greek, French ministers agree to boost investments

Finance Minister Christos Staikouras, Development and Investments Minister Adonis Georgiadis and French Minister of Economy and Finance Bruno Le Maire, signed a declaration of intent on the Greek-French economic partnership in Paris on Wednesday, aimed at boosting investments....

557. Shift in global funding led by private capital

Private equity firms now manage commitments of nearly US$3.4t globally, up from less than US$500b in 2000, and in a significant shift new capital from private markets has surpassed for capital raised in public markets for the first time ever...

558. Cyprus taps into Europe’s mountain know-how

Cyprus is hosting a European conference on mountain areas of large Mediterranean islands, hoping to gain valuable information and know-how from countries with a long tradition in managing mountain area policies...

559. Insurers need profound transformation and the right talent

As insurance industry growth remains stagnant for another year due to low interest rates, the shifts in consumer demographics around the world coupled with heightened expectations for digital experiences present insurers with risks and opportunities...

560. Renewable power is only part of the solution to meet net-zero targets

561. Cyprus plans to revoke passports after uproar

Cyprus said on Wednesday that it had started a process to strip 26 individuals of citizenship they received under a secretive passports-for-investment scheme, admitting it had flaws...

562. Financier's Cypriot passport rocks the boat

A well-known Malaysian financier wanted by authorities in several countries appears to have obtained a Cypriot passport following recommendations from Archbishop Chrysostomos who cited investment opportunities...

563. Social determinants undermine the progress of modern medicine

The rise in illnesses caused by our behaviours and the social determinants of health threatens to suffocate budgets in both wealthy and poor countries, while suppressing the power of modern medicine to improve lives...

564. Attracting investments, relations with Turkey: A new chapter?

On a diplomatic level, the main event was Mitsotakis’ meeting with Turkish President Recep Tayyip Erdogan. The two leaders discussed all the major issues. Aside from the chronic Cyprus dispute, where the situation has become even more complicated following the discovery of gas deposits, one of the most pressing issues at the moment is migration. ...

565. Safeguards against climate change

Climate change has become the main concern of the younger generations, and it seems it is the main issue that can spur them into action. The great majority of young people used to be strangers to politics and protest. Now politics is entering their lives as they realize that the decisions of those who rule the world, whether it is politicians or corporations, will decide their own future. ...

566. K.Treppides & Co Ltd: Time Value of Money

What if a close friend asks today to borrow 1,000EUR with the precondition to repay the exact same amount in five years? Would you take the deal or not?...

567. Mitsotakis in New York – opportunities, substance, results

This week will see the first appearance of Prime Minister Kyriakos Mitsotakis at the United Nations General Assembly. He will make the customary speech before the plenary and be received by the UN secretary-general. However, the substance will be in the meetings that are to take place on the sidelines of the proceedings. ...

568. Time to seek security guarantees

Diplomatic cliches rarely reflect reality, though in the case of Greek-American relations, they are indeed in the best place they have been in decades. ...

569. Scope rates Cyprus with BBB-

Scope Ratings affirmed last week the Republic of Cyprus’ BBB- long-term issuer and senior unsecured local- and foreign-currency ratings, along with a short-term issuer rating of S-2 in both local and foreign currency, noting that all outlooks are stable...

570. Tourism staggers but officials still hope

Deputy Minister for Tourism Savvas Perdios says 2019 is a difficult year for tourism but there is no need for panic as positive developments may be expected in the coming weeks...