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811. Cyprus launches new tourism schemes as arrivals plummet

Nine incentive schemes promoting the development and boosting of targeted forms of tourism were approved by Cabinet on Monday, when the Cyprus statistical service (Cystat) announced that Cyprus marked a 79.9% drop in arrivals in 2020 compared to the year before....

812. 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....

813. Cyprus eyeing March 1 reopening of travel

The Ministry of Transport announced on Wednesday that the Cabinet decided to extend the Covid-curbing measures governing airports and flights until March 1....

814. Officials want young people settle in Strovilia

Dherynia officials are seeking ways to have young people populate abandoned homes in Strovilia, on British Base soil, despite challenges stemming from restrictions that were somewhat eased last year...

815. 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....

816. 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%....

817. 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. ...

818. Cyprus remains an attractive investment destination

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

819. 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...

820. New Chinese Ambassador hails deepening relations with Cyprus

China opposes any unilateral provocations and actions that undermine the peace and stability of Cyprus and the region and as a permanent member of the UN Security Council, it will continue to play a constructive and coordinating role in facilitating the settlement of the Cyprus problem, UNFICYP’s mandate renewal, and the implementation of relevant UN resolutions, to uphold fairness and justice for Cypriots, China's new Ambassador to Cyprus, Liu Yantao said, presenting on Thursday his credentials to Cyrpus President, Nicos Anastasiades....

821. Cyprus revises travel rules for vaccinated passengers

An inter-ministerial committee set up to spearhead the gradual resumption of flights agreed on an updated action plan on Thursday that allows those passengers who have been vaccinated against coronavirus to be exempted from the requirement of showing proof of a negative test....

822. EU warns against easing pandemic-containing measures

As millions of European citizens gear up for the festive season, the European Union's executive commission urged member countries to keep strong anti-Covid-19 restrictions in place to avoid a post-holiday surge of coronavirus cases and deaths but stopped short of advising against travel....

823. Cyprus, Slovakia FMs discuss Turkey's regional behaviour

Turkey’s escalating provocations in relation to Varosha, as well as in Cyprus’s EEZ and maritime zones, were the focus of discussions in Nicosia on Monday between the Cyprus Foreign Minister Nicos Christodoulides and the Minister of Foreign and European Affairs of the Slovak Republic Ivan Korcok....

824. Greece, UAE commit to mutual defense assistance

The mutual defense assistance clause, activated in the event that one of the two countries’ territorial integrity is threatened, is probably the most important part of the defense and foreign policy cooperation agreement signed by Greece and the United Arab Emirates (UAE) last week, according to sources with inside information....

825. Cyprus experiencing excessive macroeconomic imbalances

The European Commission said Wednesday that Cyprus continues to face excessive macroeconomic imbalances, particularly in view of the country’s very high percentage of non-performing loans that continue to plague the financial sector, but also in light of high private sector, government, and external debt....

826. Government unleashes new bundle of support measures

Along with the new restrictions imposed to curb the recent spike in coronavirus cases, the labour minister Zeta Emilianidou said Thursday that the Cyprus government agreed on a new batch of support measures budgeted between 130 and 150 million euros....

827. Mountain areas tourism product to get new boost

The deputy tourism ministry is joining forces with the forestry department to upgrade the tourism product of mountain and rural areas, focusing on improving nature trails, shelters facilitating bicycle tourism, and other projects aiming to upgrade forest recreation areas. ...

828. EY Attractiveness Survey Cyprus 2020

EY Attractiveness Survey Cyprus 2020: Investors are optimistic about the country’s attractiveness over the coming years, but state that there is room for improvement...

829. Deputy tourism ministry to subsidise beach revamp projects

The Cyprus deputy tourism ministry announced on Monday a subsidy scheme to encourage projects that will upgrade Cyprus beaches, in the framework of the implementation of the 2030 national strategy for tourism and efforts to upgrade the island’s tourism product....

830. Microsoft plans $1 billion data center venture in Greece

Microsoft has announced plans to build three data centers in greater Athens, providing a badly needed investment of up to $1 billion to the Greek economy which has been hammered by the pandemic....

831. Spanish FM stresses solidarity with Cyprus, importance of dialogue

Spain’s Foreign Affairs Minister Arancha González Laya expressed her country’s solidarity and support for Cyprus in the face of tensions with Turkey in the Eastern Mediterranean....

832. Winter season a window of opportunity for tourism

With the tourism sector’s performance this summer having refuted even the most optimistic forecasts that were made, the question for tour operators is what more can be done over the next period to reduce the big losses. As such, everyone's attention has shifted to the winter period that begins next November and ends in March 2021....

833. France stands behind Cyprus, defends sanctions against Turkey

The EU must be ready to activate all its tools, including sanctions, against Turkey, French State Secretary for European Affairs Clément Beaune said Friday during a visit to Cyprus....

834. Cyprus-Piraeus ferry connection by May 2021 viable

The goal of launching the Cyprus-Greece ferry connection in May 2021 is on track, the Cyprus deputy shipping minister Vasilis Demetriades said Tuesday....

835. Cyprus updates risk-based travel list

The Republic of Cyprus on Tuesday downgraded Estonia and Georgia from category A to B, the Czech Republic and Hungary from B to C, while upgrading Rwanda from C to B, and Australia from B to A, in its three-tier coronavirus risk-based classification system governing travel rules....

836. UK, Swedish travel agents regaining confidence in Cyprus

Major travel agents from Britain and Sweden seem to be overcoming their reservations regarding the mandatory coronavirus test and are starting to bring tourists to Cyprus again, Transport Minister Yiannis Karousos said Friday, speaking before the Parliamentary Transport Committee....

837. Cyprus energy plans sticking to schedule

Energy Minister Natasa Pilides gave assurances on Wednesday that the companies active in Cyprus’ exclusive economic zone are moving forward with their planning....

838. Climate change adds to plight of endangered sea turtles in Cyprus

Energy Minister Natasa Pilides gave assurances on Wednesday that the companies active in Cyprus’ exclusive economic zone are moving forward with their planning....

839. Government extends support schemes until end October

The Cabinet on Thursday decided to extend current government support programs aiming to cushion the blow of the coronavirus pandemic until the end of October, Labour Minister Zeta Emilianidou said....

840. KPMG Property Lending Barometer 2020