The credit quality of real estate companies in the United Arab Emirates will erode on the back of the double hit from coronavirus and the oil price slump, Moody’s Investors Service said in a new report. “The economic contraction and its fiscal implications will be most acute in Dubai, where the economy is very reliant
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Cyprus must invest if it wants to get Cypriots interested in golf, develop local talent, or host big international tournaments, otherwise, it will remain in the rough. Cyprus has succeeded in organising several amateur tournaments at an international level including the European Champion Club, hosted in Paphos in 2012 and 2015 but it is not
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The single coronavirus case reported by Cyprus authorities on Sunday was discovered from the contact-tracing process linked to an earlier reported case from a gym, raising concerns that public health standards are not being kept. The Ministry of Health said the new case was linked to the Covid-19 infected case discovered from a gym on
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When the political mood music is sirens disrupting the morning air to remind us of a dark tragedy that remains unresolved 46 years on it should serve as more than a wake-up call. Sirens sounded earlier this week to mark the exact hour tanks rolled into Nicosia to oust President Makarios III in an army
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With digital technology undoubtedly the backbone of leaps in the economic and social spheres, one cannot ignore the growing voices concerned about the health impact from the introduction of fast broadband communication, or 5G. Those in favour of installing the new network platforms, to roll out the system to the general public by 2025, argue
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Coronavirus has hit Cyprus and other countries quite seriously with the Cypriot economy showing an annual growth rate of around 5% over recent years, we are facing a recession of around -8%, thus a 13% difference. This has a chain effect on unemployment that rose from a low of 5% to upward of 8%. It
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Cyprus health authorities confirmed another four new COVID-19 cases on Saturday mostly involving people who recently arrived on the island from abroad. Three of the positive cases had a travel history while the fourth was a Cypriot who was referred by his doctor after developing coronavirus symptoms. Among the three imported cases, one was detected
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Cyprus’ 5G network rollout is not expected to be hindered by sanctions placed on tech giant Huawei and other Chinese telecom firms by the US and UK governments, officials said. As Cyprus comes closer to rolling out its 5G network moving forward with permits for 5G platforms expected to be approved before the end of
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Cyprus has decided to get clever with technology as it seeks to upgrade its towns with smart lighting poles which will not only replace older, less efficient streetlights but keep people connected. Cyprus has already installed smart street lighting in several areas, but it is now looking to take this up a notch with smart
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By Natalie Leonidou Coronavirus has scarred Cyprus’ economic landscape with lockdown and travel restrictions hurting tourism with many hotels struggling to stay afloat as tourists stay away. The abrupt border closure and the enforcement of the lockdown measures hurt hotels, travel agencies and the hospitality sector. This prompted a profound economic shift and heightened uncertainty
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