Turkish Cypriots are being crushed under the weight of a collapsing Turkish Lira, as it continues to lose ground falling to an all-time low on Wednesday, with the Euro being traded at some point of the day at 8.18 TRY. As of January this year, the TRY has lost 12% of its value compared to
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Economic sentiment in Cyprus improved for the third month in a row in July, albeit at a slower pace after the March lockdown due to the Covid19 pandemic and subsequent deceleration of the entire economy. The Economics Research Centre of the University of Cyprus said the Economic Sentiment Indicator (ESI-CypERC) increased by 4.5 points in
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Cyprus is a being hit by a full-blown summer scorcher as extreme heat is expected to grip the island on Wednesday with temperatures peaking at a sweltering 42 degrees Celsius. The Cyprus Department of Meteorology has issued an orange alert for ‘extreme high temperature warning’, with inland temperatures expected to soar to 42֯ C inland
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Concerned over a COVID-19 cluster forming in Limassol, the government of Cyprus is considering to reintroduce a set of restrictive measures to stem the spread of the virus in the city and the rest of island. An upsurge in Cyprus coronavirus cases in the past few days, with the majority being traced in Limassol, combined
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By Charalambos Pitros The Cyprus real estate market is held hostage by the novel coronavirus, and its performance is going to get worse before it gets better. The effects on real estate will vary and the extent of the effects will depend upon the duration of the pandemic, development of a vaccine, and how quickly
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Cyprus confirmed another seven new COVID-19 cases on Tuesday, involving a returning Bulgarian and a person with a travel history to the US, as well as three more from Limassol, where a spike in the number of infections is worrying the authorities. Already, Limassol Marina was shut down for disinfection after several cases were found
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Hoteliers fear they are in for the worst August on record for tourist arrivals with the majority of smaller hotels refraining from reopening even during what is normally the busiest month of the year. Data collected by website Stockwatch suggest that just 40% of hotel beds in Cyprus will be available to a smaller pool
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Sending political shockwaves, Cyprus centre-right Democratic Party (DIKO) saw three of its 10 MPs, two senior officials walk out in defiance to form their own parliamentary group on Tuesday. The sudden announcement followed a meeting of President Nicos Anastasiades and the party leaders to discuss recent political developments. The three opposition MPs, Angelos Votsis, Marinos
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Sixteen applicants seeking international protection were flown from Cyprus to Finland under an EU relocation mechanism to offer women and unaccompanied minors safe refuge. They belong to vulnerable groups, as defined by the law on refugees and EU regulations. According to the Interior Ministry, the relocation is 90% funded by the EU Asylum, Migration and
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Cyprus Residency Planning Group (CRPG) and SSAFA on Tuesday submitted the first batch of residency applications from vulnerable UK nationals to the Interior Ministry. The two charities are helping British nationals settle their residency status in Cyprus now that the UK has left the EU. British Deputy High Commissioner Ian Whitting said: “The excellent collaboration
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