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541. Sustainability the key word in approach against COVID-19, says Swedish Ambassador

Sweden’s Ambassador in Nicosia Anders Hagelberg has spoken of the need for a sustainable approach as regards dealing with the COVID-19 outbreak and has noted that one cannot compare the measures taken in different countries, as each one has different social and family structures in place....

542. Cyprus in the mix as world seeks cure

An Israeli military aircraft has delivered five tons of chloroquine to Cyprus this week, amid reports of secret wars over limited access to the drug but also uncertainty over its effectiveness in the fight against the coronavirus pandemic...

543. Cooperation and Transparency Needed to Fight COVID-19

In today’s age of social media, it has unfortunately become normal to see false information reach a broad audience instantaneously through the Interne...

544. Decree bans export of medicine

A decree issued by the Health Minister on Friday banned the export of all medicine from Cyprus to any other country, including EU Member States....

545. Economic sentiment deteriorates in March reflecting COVID-19 pandemic initial impact

546. North stocking up on medical supplies

More cases in the north are being released from quarantine while others test positive, as Turkish Cypriot authorities see medical supplies and financial support starting to pour in...

547. 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...

548. Cap on purchases of antiseptic products enforced by several supermarkets

The Cyprus supermarket association said on Monday it was scrambling to persuade all supermarkets to enforce a cap on the amount of antiseptic products that may be purchased by each consumer in a bid to prevent the impending depletion of stocks....

549. Trump declares coronavirus outbreak a national emergency

President Donald Trump said Friday he was declaring a national emergency -- "two very big words" -- to free up $50 billion in federal resources to combat coronavirus, part of a raft of new measures Trump hopes can bring a roiling health crisis under control....

550. Coronavirus thrusts Cyprus into consumerist frenzy

The coronavirus outbreak has brought on a widespread consumerist frenzy across the island. Market research by Kathimerini found that retailers saw a skyrocketing of sales to the tune of over 400% compared to the corresponding period last year, even surpassing sales during the Christmas period....

551. Economic sentiment in Cyprus falls in February due to weaker business confidence in services

In February 2020, economic sentiment in Cyprus deteriorated as the Economic Sentiment Indicator (ESI-CypERC) decreased by 0.7 points compared with January 2020....

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. 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....

554. 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...

555. EU vessels will no longer have automatic access to UK fishing waters

The automatic right of EU vessels to fish in British waters, in accordance with the EU’s common fisheries policy, is to be ended under the fisheries bill introduced to parliament on Wednesday....

556. Turkish military drone lands in Cyprus

A military armed drone landed in the northern part of Cyprus on Monday after flying a five-hour mission from its naval base in Turkey...

557. Turkish drones in the north ready for takeoff

Turkish drones were due to arrive in the northern part of Cyprus where they are expected to begin flying missions on Monday over drilling ships in search of natural resources in the eastern Mediterranean...

558. Guterres committed to explore possibility to convene five-party meeting on Cyprus

UN Secretary-General Antonio Guterres said on Monday that he committed to explore with the President of Cyprus Nicos Anastasiades, the Turkish Cypriot leader Mustafa Akinci and the guarantor powers the possibility to convene an informal five party meeting on Cyprus “at an appropriate stage”, following an informal dinner in Berlin attended by both leaders. ...

559. 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...

560. Cyprus to start process for early repayment of IMF loan, Finance Minister announces

Finance Minister Harris Georgiades announced on Tuesday that an official process will be launched for the early and full repayment of an IMF loan, following the repayment of a loan from Russia....

561. Cyprus stocking up on drones

The Cyprus National Guard is said to have received its first four unmanned drones from Israel, allowing state agencies to obtain clear views from high above over land and water...

562. Hellenic Bank posts profit of €59.1 million in first half of 2019

The Hellenic Bank has announced that it has posted a profit of €59.1 million after tax in the first half of this year with CEO Yiannis Matsis noting that the results reflect part from the benefits from the acquisition of the operations of former Cyprus Cooperative Bank. ...

563. ''I cannot go to a conference again like I did last time''

Nicosia looks forward to Friday’s meeting between the President of Cyprus Nicos Anastasiades and the UN Secretary-General Antonio Guterres, in the UN headquarters, in New York, in a bid to learn more about the UN Chief’s intentions regarding his next moves on the Cyprus issue. ...

564. Trump impeachment inquiry begins

Democrats in the U.S. House of Representatives on Tuesday launched a formal impeachment inquiry into President Donald Trump, accusing him of seeking foreign help to smear Democratic rival Joe Biden ahead of next year’s election...

565. 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. ...

566. Moody's changes Cyprus outlook to positive

Rating agency Moody’s changed the outlook for the Cypriot economy to positive from stable, citing the reduction of the sovereign exposure to event risks stemming from the banking sector and the improving fiscal strength beating previous expectations...

567. Britain's Thomas Cook scrambles for £200 million to avert collapse

Britain’s Thomas Cook needs to find an extra 200 million pounds to satisfy its lenders or one of the world’s oldest holiday company risks collapse, potentially stranding thousands of holidaymakers across Europe. ...

568. Oil surges after attack on Saudi oil facilities

Oil prices surged on Monday, with Brent crude posting its biggest intra-day percentage gain since the Gulf War in 1991, after an attack on Saudi Arabian oil facilities on Saturday shut over 5% of global supply. ...

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. Moody’s expects deleveraging to resume but warns over small economy and high level of debt

The credit profile of Cyprus reflects its small but wealthy economy, improved economic resilience and the government`s fiscal outperformance in the wake of the country`s banking crisis, Moody's Investors Service has said in an annual report. ...