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571. Five new support schemes announced as Cyprus enters recovery stage

The five new economic support measures budgeted at 150 million euros that aim to cushion the blow of the coronavirus pandemic as Cyprus enters the stage of recovery were submitted before the cabinet on Tuesday....

572. Cyprus the highest climber in IMD 2020 World Competitiveness Ranking

Cyprus was the highest climber in the 2020 IMD World Competitiveness Rankings, marking an improvement in all four categories that make up the overall ranking....

573. House passes bills mitigating pandemic repercussions

The House on Friday approved a wide array of bills, passing into law a wide array of bills seeking to keep Cyprus afloat as it is making its way through the first wave of the coronavirus pandemic....

574. Greek economy to get multi-billion-euro lifeline

Prime Minister Kyriakos Mitsotakis will announce steps to revive the economy in a televised address on Wednesday. These steps will be mainly focused on tourism but will also concern other sectors affected by the coronavirus pandemic. ...

575. EU pushes to unlock borders as coronavirus ravages travel

576. Athens to undergo radical facelift

After the ambitious vision of creating a large traffic-free zone in Athens more or less fizzled out at the end of the previous decade, the Athens Municipal Council breathed new life into the project on Monday after approving a proposal for an extended pedestrian network and a drastic reduction of cars in the city center....

577. 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....

578. More Cypriots ditch cash during pandemic

Cypriot consumers are increasingly turning to debit and credit cards as opposed to traditional cash payments for their daily needs amid the coronavirus pandemic, data by JCC payments systems show ...

579. 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...

580. Reduction of new cases to single digits came earlier than expected

Restrictive measures are expected to be phased out gradually, starting in early May, Petros Karayiannis, Professor of Microbiology and Molecular Virology and member of the Ministry of Health Advisory Committee said on Tuesday....

581. 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....

582. Government to spend €850m in direct support until June

The Cypriot government announced the extension of measures to companies and self-employed persons hit by the coronavirus outbreak until June 12, increasing direct support to €849 million or 3.5% of GDP....

583. 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....

584. Cyprus mulls pushing back Easter celebrations

The President of the Republic of Cyprus is expected to call on the Archbishop to push back on Easter celebrations, as media sources say the government is likely to heed the advice of experts to extend coronavirus measures until the end of April...

585. 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....

586. Confirmed infections gradually go down

Greek Cypriot health officials say there was a “gradual reduction” in the number of confirmed coronavirus cases, adding that measures in place have been effective but this could still change at a moment’s notice...

587. Help from China on the way

The Chinese ambassador in Nicosia says Cyprus has recently taken “powerful and appropriate” measures in the fight against the coronavirus pandemic, adding that help from China is on the way...

588. State suspends foreclosures for 3 months, requests 10% reduction in electricity fees

The government on Wednesday agreed to request from the Cyprus energy regulatory authority a 10% cut on electricity usage charges for a period of three months, in view of providing some breathing space as the island traverses the Covid-19 health crisis....

589. 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...

590. 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....

591. Official guidelines for people returning from high-risk countries

592. Ambitious national tourism strategy already in motion

Cyprus’ national tourism strategy, containing a set of predefined goals for each year until 2030, is already being implemented, Deputy Minister of Tourism, Savvas Perdios, said on Tuesday....

593. Cyprus' debt at €20.74 billion in end of 2019

594. Cyprus enjoys strong growth prospects but contingent liabilities remain

Strong growth prospects and sustained fiscal discipline places Cyprus on a firm declining path but contingent liabilities, healthcare and public sector wage-related costs, as well as weaker external conditions, pose risks to the fiscal outlook, Scope rating agency said in commentary on Cyprus....

595. Banks must find new profitable products, CBC Governor says

The task of securing alternative profitable products besides lending is the biggest challenge for banks in small countries such as Cyprus, Central Bank Governor Constantinos Herodotou said on Friday....

596. Cyprus ratifies Multilateral Instrument

On 22 January 2020, the Instrument of Ratification of the Multilateral Convention to Implement Tax Treaty Related Mattersto Prevent Base Erosion and Profit Shifting(“the Multilateral Convention”) were published in the Official Gazette of the Republic in Greek and English, (“Multilateral Instrument”)...

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

598. CITR Cyprus calls for modern insolvency rules

599. Central warns banks ‘not to overdo it’

The Governor of the Central Bank of Cyprus has called on smaller local banks not to get carried away with loaning money, urging them to follow the example of bigger banks and focus on reducing toxic debt...

600. Government employees rose by 1.1% in October due to temporary employment

Government employees in October 2019 rose by 1.1% year on year amounting to 52,476 persons, pushed upward due to temporary employment, according to data released on Friday by the Cyprus Statistical Service (Cystat)....