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211. Cyprus and EU economies facing a 'twin problem' following the war in Ukraine

The EU and Cyprus economies are facing a “twin problem” of rising commodity and energy prices and heightened uncertainty following the invasion of Russia in Ukraine, according to discussions held by the Nicosia Chamber of Commerce and Industry and the European Investment Bank (EIB)....

212. Europe scrambles for natural gas solution as Putin squeezes supply

The European Union is racing to find alternative suppliers of natural gas after Russia's Gazprom cut flows to two EU nations, sparking fears that others will soon follow....

213. Lagarde: Cyprus will be affected by inflation and rising energy costs

Cyprus will be affected by inflationary pressures and higher energy costs due to its dependence on oil imports for electricity generation, according to European Central Bank President Christine Lagarde....

214. Omicron, cold weather and fatigue causing outbreak in COVID cases

The Omicron sub-variant, weather conditions and growing fatigue are some of the reasons behind the rise in positive cases in Cyprus, says Dr. Zoe-Dorothea Pana, a member of the Advisory Scientific Committee and Lecturer in Paediatrics at the European University of Cyprus....

215. Consulco hosted the digital event ''UK Economy and Real Estate Outlook''

Consulco has successfully hosted the UK Economy and Real Estate Outlook event, along with four leading organization that have provided insights on the pressures the UK is facing today and their impact on key property markets. ...

216. Loss of 1.5% to 2% of Cypriot GDP due to a ban on Russian flights

Cyprus could lose 1.5% to 2% of its growth rate this year if the Cypriot airspace (under EU sanctions) to Russia remains closed for the whole of 2022, estimates the rating agency DBRS Morningstar, noting that despite the negative impact, the war in Ukraine will not derail the medium-term prospects of the Cypriot economy....

217. NEOLAiA European University Alliance – Governing Board Meeting

The Governing Board of the NEOLAiA European University Alliance met online on Thursday, 10 March 2022 and reiterated its full commitment in building a strong European University of the Future. ...

218. New Covid relaxations announced today (Updated)

The session of the Council of Ministers which began at 10 am this morning ended shortly after noon today followed by an announcement of new relaxations to the covid restrictions in Cyprus....

219. RICS Cyprus Property Price Index with KPMG in Cyprus announces results of Q1-Q3 2021

KPMG in Cyprus announces that the “RICS Cyprus Property Price Index with KPMG in Cyprus” has been issued for Q1 – Q3 of 2021....

220. The technology sector can become the new mainstay of the Cypriot economy

These are some of the key conclusions that emerged from the findings of a survey conducted last October by IMR/University of Nicosia™ on behalf of the non-profit organisation TechIsland. ...

221. Debt sustainability in all Member States

ESM Managing Director Klaus Regling strongly believes that public debt is currently sustainable in all Member States of the monetary union. ...

222. As ban lifts, visitors to US await long-delayed hugs, kisses

The U.S. lifted restrictions Monday on travel from a long list of countries including Mexico, Canada and most of Europe...

223. Massimo Dutti Launches its online store in Cyprus

Massimo Dutti is pleased to announce the launch of its online store in Cyprus. The launch is scheduled on the 26th from 12am. Through www.massimodutti.com.cy and its mobile app (available on Google Play and the Apple App Store), the brand makes it easy for its customers to discover all the Massimo Dutti collections....

224. Global CEO confidence returns to pre-pandemic levels

CEOs of the world’s largest businesses are increasingly optimistic about the outlook for their own business and despite the Delta variant slowing down the ‘return to normal’, their confidence in the global economy has returned to levels not seen since the start of the pandemic....

225. State budget and economic outlook for 2022

The Ministry of Finance is working hard to complete the proposed budget of 2022 for submission to the Council of Ministers....

226. University of Nicosia Advances to Top 601-800 Universities in the World

The latest edition of the Times Higher Education (THE) World University Rankings, released on 2 September 2021, reaffirms the University of Nicosia’s (UNIC) global standing, ranking it among the Top 601-800 universities in the world. Correspondingly, UNIC ranks among the Top 250 universities in the European Union....

227. EY: Liquidity-fueled IPO markets break records in Q1 2021

228. Greek Easter relaxation hopes put to rest

Cyprus’ current epidemiological situation is behind the government’s latest decision to freeze possible relaxation of restrictions ahead of Greek Orthodox Easter, with the administration focusing on vaccinations but also not ruling out further measures...

229. Minister says Cyprus facing ‘fragile situation’

Cypriot Health Minister Constantinos Ioannou is urging people to comply with health measures, saying the epidemiological outlook in the country remains fragile and the situation could get out of control...

230. 2021 KPMG CEO Outlook Pulse Survey

231. IMF: Withdrawal of support measures should be gradual

An International Monetary Fund (IMF) mission met virtually with the Cypriot authorities from March 8–29, 2021 to discuss recent economic developments and policy priorities on the island. In an interview with Kathimerini Cyprus, IMF mission chief for Cyprus, Anita Tuladhar, said the longer the recovery period in sectors related to tourism, the greater the chance that permanent scars will remain in the economy of Cyprus. Tuladhar also noted the importance of state-sponsored programs to support the economy....

232. Borrell: Cyprob solution must come from Cypriots

"The European Union fully supports the resumption of a settlement process under UN auspices, as soon as possible," and stands ready to provide whatever assistance both parties and the UN would find most useful, the EU’s Foreign Policy chief Josep Borrell said Thursday....

233. Global IPO activity rebounds sharply

Q3 2020 bucked the traditionally slow IPO period as travel slowed, work from home and the markets were awash in liquidity resulting in the most active third quarter in the last 20 years by proceeds, and the second highest third quarter by deal numbers...

234. KPMG Property Lending Barometer 2020

235. Cyprus updates risk-based classification of countries

Cyprus on Tuesday issued an updated epidemiological risk-based classification of countries, including three amendments as regards Greece, Thailand and Morocco. The new classification will come into effect on August 6....

236. Cyprus tones down tourism expectations

Cyprus Deputy Ministry for Tourism halved its target for tourist arrivals in August to 100,000 as main tour operators exclude Cyprus of their programmes...

237. 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....

238. 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.”...

239. Cabinet in tight spot talks measures

The President’s Cabinet is discussing the ease of measures ahead of a meeting later this week with health experts, amid reports there could be second thoughts among scientists...

240. Cyprus GDP to suffer 'severe contraction' in 2020, projection shows

The University of Cyprus’ Economics Research Centre has projected that the country’s GDP is set to drop by 6.9% in 2020 under a baseline scenario and by 13.1% under an adverse scenario....