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1771. Policy priorities unaffected by pandemic, FinMin says

Despite the crisis of the Covid-19 pandemic Cyprus’ economic policies remain the same, targeting macroeconomic and financial stability, prudent fiscal policies, and establishing a competitive, business-friendly regulatory environment of high standards, Minister of Finance Constantinos Petrides said on Thursday....

1772. Dueling small parties help pass budget

The House in the Republic of Cyprus approved a revision of the government’s 2021 state budget on Thursday, following a month of consultations between the administration and small opposition parties that offered additional amendments to the bill...

1773. Cyprus looking to boost ties with militarily-developed Gulf states

The enhancement of Cyprus’ relations with militarily-developed Gulf states constitutes a priority, Defence Minister Charalambos Petrides said Wednesday, against the backdrop of diplomatic developments with the United Arab Emirates (UAE) and Saudi Arabia....

1774. COVID-19 is adding new impetus to finance transformation

1775. The chaos of the pandemic in the north

The coronavirus pandemic is continuing to affect the north against the backdrop of broad political and economic insecurity, with the recent manoeuvres of the Ersan Saner ‘government’ raising questions as to the ability of the Turkish Cypriot leadership to effectively address the pandemic....

1776. EY welcomes Eleni Sofocleous as a Director in EY Cyprus’ Tax Practice

EY Cyprus, staying true to its commitment to building a better working world, always looks to reinforce its teams with the brightest talents. In this context, we are proud to announce that, as of 11th of January 2021, Eleni Sofocleous has joined EY’s Tax practice...

1777. Smoothening the cliff edge in EU-UK relations

The Trade and Cooperation Agreement (TCA) between the United Kingdom and the European Union came into effect on January 1, 2021, capping a tumultuous four-and-a-half-year period since the shocking result of the July 2016 Brexit referendum, in which 51.9% of the British voters voted in favor of leaving the EU. Subject to the delayed assent of the European Parliament, this UK-EU free trade agreement (FTA) extends zero-tariff and quota-free trade in goods between the two economic areas....

1778. Health Ministry reports six deaths, 227 cases

The Health Ministry announced six coronavirus fatalities and 227 new cases, raising the death toll to 163 and total cases to 28,124....

1779. Cyprus puts national minimum wage on hold until full employment

The Cyprus government will launch a social dialogue for the implementation of the national minimum wage when full employment is reached, namely when unemployment is around 5%....

1780. SMS system returns as Cyprus enters three-week lockdown

Cyprus Health Minister Constantinos Ioannou announced the new restrictions agreed upon by the Cabinet on Friday, which include a clampdown on unnecessary movements, and social and professional gatherings....

1781. Cabinet locked into partial lockdown

A partial lockdown is expected to go into effect in the Republic of Cyprus some time after Friday, when the President’s Cabinet will decide on new measures to fight further spread of the coronavirus through the end of the month...

1782. Government buys time on new COVID measures

The health, finance, and labour ministers of the Republic of Cyprus have been tasked to reconcile a number of issues before a Cabinet meeting on Friday, essentially stalling the announcement of new COVID measures which was expected on Thursday...

1783. Cyprus holds turned thumb over lockdown

Cyprus’ lockdown stance continued to remain unclear following a special meeting between experts and the health minister, with the government hinting thumbs down for a new lockdown citing economic reasons but also thumbs up for stricter measures after hospitalizations reached dangerous levels...

1784. Legal experts pounce on Yiolitis case

A well-known Cypriot lawyer, who raised questions over a home search after Justice Minister Emily Yiolitis filed a criminal complaint against a Twitter parody account, has written to the Police Chief asking to obtain public information as a concerned citizen...

1785. Cyprus tourism revenue drops by 85.1% in first ten months of 2020

The Cyprus tourism sector marked an 85.1% drop in revenue over the first ten months of 2020, data released by the Cyprus Statistical Service (CyStat) on Wednesday show. ...

1786. A timeline of the coronavirus pandemic in Cyprus

The coronavirus pandemic in Cyprus, which kicked off mildly at first with double-digit daily new cases before the second wave sent the island into unprecedented terrain with hundreds of daily new cases and the healthcare system ready to give in at any given time, can be generally divided into four stages. ...

1787. House gatherings banned, leniency for NYE

The holiday period appears to have taken its toll on the local coronavirus pandemic as Cyprus announced a record high 751 new cases on Monday, with the Health Ministry following up on Tuesday with stricter restrictions just days before New Year’s Eve....

1788. Cyprus remains an attractive investment destination

Cyprus remains an attractive investment destination, especially among established investors ...

1789. Industrial/Logistics most attractive post COVID-19

Following the breakout of the COVID-19 pandemic, the Industrial/Logistics asset class has presently become the most attractive financing option for a majority of banks in Central & Eastern Europe, according to the results from the latest edition of KPMG’s Property Lending Barometer...

1790. Cyprus calls on Egypt to assist in persuading Turkey to shift intransigent stance

Cyprus President Nicos Anastasiades has asked the Egyptian government to exert every effort towards persuading Turkey to alter its intransigent stance and to reverse its unilateral and provocative actions, in view of ultimately easing of tensions in a consistent and sustained manner, allowing the cultivation of a climate that is conducive to facilitating the resumption of the peace process....

1791. Dendias warns against appeasing Turkey

Greek Foreign Minister Nikos Dendias says the European Union should have shown more determination in taking decisions regarding Turkey, breaking ranks with Cyprus’ president who said he was fully satisfied with EC conclusions...

1792. Cyprus President 'absolutely satisfied' with EC Conclusions

President Nicos Anastasiades expressed absolute satisfaction with the Conclusions of the European Council regarding Turkey’s activities in the Eastern Mediterranean....

1793. EU leaders pull Turkey punch at last minute

European Union leaders agreed on Thursday to prepare limited sanctions on Turkish individuals over an energy exploration dispute with Greece and Cyprus, postponing any harsher steps until March as countries sparred over how to handle Ankara...

1794. FinMin confirms Cyprus won’t reinstate ‘golden passports’ scheme

Finance minister Constantinos Petrides assured that the government will not be reinstating the Cyprus Investment Program (CIP), that was shut down after the shocking corruption revelations that emerged through an Al Jazeera investigation and the subsequent stark criticism by the European Commission. ...

1795. Disconnect on ethical AI priorities between public and private sectors

In the survey of 71 policymakers and more than 280 global organizations, respondents ranked ethical principles by importance for 12 different AI use cases, and sentiment was measured around the risk and regulation of AI...

1796. KPMG survey shows biodiversity-related risk remains under-reported

While it is notable that 80% of the world’s 250 largest companies now report on sustainability, biodiversity-related risk remains significantly under-reported by the global business community...

1797. Anastasiades participates in prep meeting ahead of EUCO

With the European Council coming up next Wednesday and Thursday, President Nicos Anastasiades participated in a preparatory videoconference hosted by European Council President Charles Michel to discuss issues on the agenda, which is also expected to include a discussion of the potential imposition of sectoral sanctions against Turkey....

1798. 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...

1799. Customised solutions: Our expertise can help the hotel sector recover

APC Audit Tax Advisory Ltd and CITR Cyprus Ltd, have decided to join forces to offer a complete package of services to Cypriot Hoteliers, which will contain the vital innovative and customized solutions that are necessary, in order to properly deal with the evolving pandemic...

1800. Support schemes averted drastic rise in unemployment

The package launched by the government to support employees and businesses amid the coronavirus pandemic has averted a drastic rise in unemployment, labour minister Zeta Emilianidou said Thursday....