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421. EY: CEOs understand transformation cannot be put off following COVID-19 pandemic

More than two-thirds (68%) of CEO respondents from the world’s largest companies say that they plan to take on a major investment in data and technology over the next 12 months, while 61% plan to undertake a major transformation initiative over the same period, according to the global EY CEO Imperative Study 2021. ...

422. Open season for players searching for gas

The Republic of Cyprus along with Greece and Israel have leased a research vessel to conduct seismic surveys in waters east and west of the island, at a time when chatter over gas exploration rounds in the region are coming back to the surface...

423. Legal departments face challenges in transformation efforts

Legal departments across the globe are facing a mounting list of operational challenges as they look to transform in the wake of complex digital and regulatory change, according to the 2021 EY Law Survey, which was conducted in collaboration with the Harvard Law School Center on the Legal Profession...

424. Family businesses in Europe fared better in response to COVID-19

For businesses of all types, the first impact on the pandemic was felt on revenues. 64% of European family businesses reported initial revenue losses compared to 69% of family businesses globally, 25% managed to maintain their revenue levels, and 11% experienced increases...

425. China completes historic Mars landing

An uncrewed Chinese spacecraft successfully landed on the surface of Mars on Saturday, state news agency Xinhua reported, making China the second space-faring nation after the United States to land on the Red Planet...

426. EMA puts COVID pill review on fast track

The European Medicines Agency says it has begun a rolling review of data on sotrovimab, an antibody cure for treating COVID-19, with European Commissioner Stella Kyriakides saying therapeutic solutions were also crucial alongside vaccinations...

427. Greek, Turkish ministers stand their ground

Greek and Turkish foreign ministers Nikos Dendias and Mevlut Cavusoglu hailed the relaunch of exploratory talks between Athens and Ankara and called for a de-escalation of tension, but both stood their ground on key issues dividing the two sides in an unusually frank press conference following their meeting in Ankara on Thursday...

428. 2021 KPMG CEO Outlook Pulse Survey

429. Turkey to resume drilling program in Eastern Mediterranean ‘soon’

Turkey will “soon” resume its seismic and drilling program in the Eastern Mediterranean, the country’s Energy and Natural Resources Minister Fatih Donmez said on Friday....

430. How can digital government connect citizens without leaving the disconnected behind?

Governments should focus on inclusive digitalisation by improving digital literacy and promoting virtual interaction, and this could be achieved by providing digital resources like laptops and tablets in order to get people online and run programs to improve the digital skills...

431. 8.3% of local youth has social media addiction symptoms

A survey on the likelihood of young people getting addicted to social media and the internet has shown that 8.3% of Cypriot youth is faced with symptoms of addiction to social media, while the replies of 24% of participants suggested an overall problematic use of the internet. ...

432. Vaccinations 'main economic tool' in managing Covid crisis

Vaccinations have turned into the main economic tool for the management of the coronavirus crisis and the prospects for recovery, Minister of Finance Constantinos Petrides said, stating that he foresees a strong recovery in 2021 ranging from 3.5% to 4.5% of GDP, depending on the development of the pandemic....

433. EU broaches COVID passport subject

The European Commission will present a proposal in March on creating an EU-wide digital vaccination passport, Commission president Ursula von der Leyen said on Monday...

434. Property valuations and uncertainty clauses

Property appraisers in this country have had to deal with unprecedented events in the last seven to eight years that forced them to make use of the so-called 'uncertainty clauses' in their real estate estimates...

435. Athens protests new Turkish Navtex

Greece’s Foreign Ministry on Thursday lodged a demarche with Turkey’s Foreign Ministry through its embassy in Ankara in protest at the announced plans for an upcoming Turkish hydrographic survey between the Greek islands of Limnos, Skyros and Alonnisos from Thursday to March 2. ...

436. EU keeping close eye on Turkish moves

European Union foreign ministers have agreed to a “wait-and-see” approach towards Turkey, with some member-states appearing more skeptical of Ankara’s recent overtures....

437. Quake rattles Cyprus, no damage reported so far

An earthquake with an estimated magnitude of 5.1 shook Cyprus on Thursday afternoon, though reports of any damage have yet to emerge...

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

439. 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. ...

440. Cyprus remains an attractive investment destination

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

441. 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...

442. EY Cyprus sponsors 3rd Anti-Fraud Conference

EY Cyprus has, once again, sponsored and participated in the 3rd Cyprus Anti-Fraud Conference, which was organised by IMH and the Cyprus Chapter of the Association of Certified Fraud Examiners (ACFE). The event was held online on Tuesday 15th December...

443. COVID-19 to disrupt holiday shopping plans

444. Turkey shrugs off effect of sanctions as EUCO looms

The intense consultations between European Union member-states on the bloc’s response to Turkish aggression in recent months are expected to continue until the 11th hour before the start of Thursday’s crucial leaders summit. ...

445. 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...

446. 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...

447. Turkish exploration vessel back in port ahead of EU summit

Turkey’s seismic exploration vessel Oruc Reis returned to port on Monday from disputed Mediterranean waters, less than two weeks before a European Union summit where the bloc will evaluate possible sanctions against Ankara....

448. 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....

449. KPMG survey: companies see climate change as financial risk but disclosure quality must improve

56% of the world’s 250 largest companies (G250) now acknowledge climate change as a financial risk to their business in their corporate reporting, according to a new KPMG International survey, which also revealed that the quality of climate-related risk disclosures among these companies needs to improve...

450. Tactical moves by Ankara before EU summit

The anticipated suspension on November 29 of the activities of the Oruc Reis seismic vessel within parts of the Greek continental shelf after having scanned the entire area it had reserved since August is being touted by Ankara as a goodwill move ahead of the European Council in December 10-11, where one of the main topics of discussion will be the possibility of imposing sanctions on Turkey over its behavior in the Eastern Mediterranean. ...