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211. 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....

212. No progress among EU leaders on virus recovery deal

European Union leaders found that a quick deal on the bloc's future long-term budget and a multibillion-euro post-pandemic recovery plan remained beyond their reach Friday as the coronavirus ravages their economies....

213. A grim five years for Greek tourism

Greece may not repeat the tourism arrivals and revenues record of 2019 before 2025, according to an Ernst & Young report on the effects of the pandemic on Greek tourism, heralding a five-year crisis for the sector. This year alone the local industry is set to lose about 10 billion euros, it said....

214. 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...

215. Greece will be better prepared for second wave of Covid-19, PM says

Greece will be better prepared if the coronavirus pandemic resurfaces in fall, Prime Minister Kyriakos Mitsotakis said on a television interview on Sunday night....

216. Repair and Prepare: EU unveils €750 bln plan for coronavirus recovery

The European Commission unveiled on Wednesday a plan to borrow on the market and then disburse to EU countries 750 billion euros in grants and loans to help them recover from their coronavirus slump, giving an immediate boost to the euro....

217. Greece to welcome Germans, Cypriots, Israelis in first wave of visitors

Greece will allow travelers from around two dozen countries including Germany, Cyprus and Israel to visit from mid-June without having to be quarantined, government officials said, part of a gradual easing of coronavirus lockdown restrictions....

218. Cyprus all set to receive tourists from June 15

The Deputy Tourism Ministry is all set to open the Cyprus tourism market as of June 15....

219. 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...

220. Exit roadmap foresees economy on recovery path by Q3 2020

Finance Minister Constantinos Petrides said Thursday that the government’s lockdown exit roadmap, aspects of which were presented by the President on Wednesday night, aims to see the island’s economy on the path of recovery by the fourth quarter of this year....

221. Cooperation required to fully reap energy rewards

222. Foreign powers back Libya ceasefire

Foreign powers agreed at a summit in Berlin on Sunday to shore up a shaky truce in Libya, but the meeting was overshadowed by blockades of oilfields by forces loyal to commander Khalifa Haftar that could cripple the country’s crude production...

223. Cyprus signs deal for offshore gas concession

Cyprus and the Aphrodite consortium on Thursday signed an exploitation license and a revised production sharing contract, aiming to start natural gas production in 2025, generating projected revenues of $9.3 billion for a period of eighteen years ...

224. «Growth momentum moderates» in Cyprus according to Εuropean Commission Autumn Economic Forecast

"Growth momentum moderates" in Cyprus, according to the headline assessment of the European Commission`s Autumn Economic Forecast for the country, presented today by Commissioner Moscovici in Brussels....

225. Revenue from ship management dips

Ship management revenues decreased in the first half of 2019 by €5 million, according to the results of the Ship Management Survey for the first half of 2019, concerning the transactions of resident ship management companies published Wednesday by the Central Bank of Cyprus...

226. EY climbs World’s Best Workplaces list

EY has been named the #1 professional services employer for the fourth consecutive year in Universum’s 2019 “World’s Most Attractive Employers” annual ranking – moving up one place on 2018 to become the second most attractive employer overall...

227. Financial Services towards Artificial Intelligence and Machine Learning

Artificial Intelligence in general and machine learning in particular, is not a new concept, but it is only in recent years that financial services firms have started to learn about and understand its full potential...

228. 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. ...

229. Anastasiades: We accept political equality

In this context and following a call from the Secretary General for an agreed basis for the resumption of negotiations, there is an understanding by the leaders of the two communities that the relevant “Terms of Reference” should comprise the following elements: ...

230. Overtaxation led to tax evasion

Losses incurred by the state coffers due to tax evasion in 2014-17 were greater than the value-added tax revenue increase as a result of consecutive tax hikes, according to a European Commission report on the so-called VAT deficit (the difference between the expected VAT revenues and actual collections)...

231. German giant acquires Foody

Cypriot startup Foody has been acquired by a German food delivery giant in a friendly takeover reaching dozens of countries all over the world...

232. Anastasiades responds to Akinci’s hydrocarbons proposal

In a letter to UN Secretary General Antonio Guterres President Anastasiades responded to a proposal by Turkish Cypriot leader Mustafa Akinci regarding the co-management of natural gas affairs. ...

233. Talent shortages costing European private businesses €414 billion each year

European private businesses’ biggest challenge is the increasingly growing skills shortage that is preventing them from hiring the right talent for growth. A PwC survey across 31 European countries shines a spotlight on a wider, ongoing issue across the region. PwC estimates that the skills shortage is costing the region €414 billion annually in lost revenues - just from private businesses. That’s around 2.6%of European GDP and is more than the combined annual GDP of Greece and Portugal. ...

234.  Aphrodite revenue sharing at 57.1% - 42.9%

235. Cyprus strikes deal with Noble, Shell and Delek

236. BOC leadership change will not disrupt momentum Ackermann says

237. IMF warns of 'increasing headwinds to sustained growth'

238. Cyprus aims to maintain the same number of tourists as in 2018

239. Cyprus establishes energy investment fund

240. President Anastasiades to meet again with Lute