Cyprus COVID-ravaged economy plunged an estimated 11.9% of annual GDP in the second quarter of 2020 as it tried to contain the pandemic. Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at -11.9% according to a Flash Estimate announced by the Statistical Service (CyStat) on Friday. Quarter
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By Han Tan, Market Analyst at FXTM Investors have been reluctant so far to send benchmark stock indices to new record highs since the Covid-19 pandemic, despite coming tantalisingly close. Asian stocks are mixed, with regional indices pulling the MSCI Asia Pacific index further away from its January 20 close, despite Thursday coming within less
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Forty-six years ago to this day the Turkish military launched its second offensive against Cyprus breaking a ceasefire that had been agreed in 1974. The Turkish army invaded Cyprus on July 20, 1974, and launched the second phase of the invasion on August 14, occupying the best part of Mesaoria, Famagusta, Karpasia and Morphou. Dubbed
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EU Foreign Affairs Ministers will discuss Turkey’s unlawful activity in the Eastern Mediterranean during an extraordinary videoconference scheduled for Friday with the participation of Cyprus’ Nikos Christodoulides. The extraordinary session of the Foreign Affairs Council was called by the EU’s foreign policy chief Josep Borrell to discuss urgent matters in relation to the situation in
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The Cyprus health authorities reported 14 new SARS-CoV-2 cases on Thursday, the same as the day before, raising the total number of coronavirus infections to date to 1,305. The Health Ministry said that four cases resulted from contact tracing relating to previously reported cases, two were travel related and resulted from 1,368 tests at airports,
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Cyprus Police is banning all large-capacity motorcycles, trikes and quads over 125cc from specific strips of main roads in almost all towns and on specific dates in August in an attempt to cut down on noise pollution. The order, signed by Deputy Chief Christakis Mavris, is valid in most towns from late night to early
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Cyprus exports were down 23% in May, compared to the same month last year, while provisional figures for June showed a minor correction, with exports rising about 18% year-on-year, according to the latest figures from the statistical service Cystat. With the Covid-19 pandemic-imposed lockdown affecting all sectors of the economy in the first quarter of
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Social networking platforms owned by Facebook founder Mark Zuckerberg have access to about 6.98 billion users as of July, representing nearly half or 47.8% of the active users among the top 15 list of social networks, according to a survey. Data gathered by Buy Shares indicates that Facebook users account for at least 34% of
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Cyprus’ Department of Meteorology has issued yet another yellow warning this summer for “extremely high temperatures” this time during the August holiday period. The maximum temperature is expected to rise to around 41 degrees Celsius inland by 1300 on Thursday. Hotter than usual weather is expected to continue on Friday as it goes up another
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Cyprus reported 14 new cases of Covid-19 on Wednesday, which has the authorities worried as two of the new infections were traced to a beach party where 30 people took part. The Health Ministry said that 3,775 tests were conducted in the last 24 hours, with the positive results bringing the total coronavirus infections to
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