Cyprus raised €1 bln in a double -European bond issue through the reopening of existing bonds maturing on 3 December 2024 and 21 January 2040, with the total demand exceeding 10 times the minimum amount set. The minimum amount for each bond transaction was €250 mln. In a written statement, Finance Minister Constantinos Petrides expressed
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Cyprus reported one new coronavirus case on Tuesday involving a passenger from Israel who arrived on 2 July when flights were still allowed from that country. Israel has since been demoted from the band of countries that are allowed entry into Cyprus based on their coronavirus data. The COVID-19 case was detected from 302 tests
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After successfully containing COVID-19, Cyprus on Tuesday announced that sporting events can have spectators attending for the first time since the outbreak in March. A decree issued by Health Minister Constantinos Ioannou allows for spectators to attend organised professional sports indoors and outdoors with the use of changing rooms. This includes football, basketball, athletics, swimming,
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Cyprus is working with EU partners France and Greece to thwart Turkey’s ‘expansionism’ in the eastern Mediterranean where tension has escalated over energy rights, said President Nicos Anastasiades on Tuesday. Anastasiades said it was time for Brussels to make a stand against a “brazen” Turkey which has entered Cypriot waters on multiple occasion to drill
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Cyprus’ new Energy Minister and Deputy Minister of Shipping, Natasa Pilides and Vasilis Demetriades respectively, face challenges ahead after being sworn in at the Presidential Palace on Tuesday. The two new members of the Anastasiades administration will be taking over their duties on 10 July, with current Deputy Minister of Shipping Pilides taking over from
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Cyprus’ economy is under significant strain from the heavy impact of COVID-19 fallout on tourism with expected revenues only 25% of last year’s level, the European Commission’s economic forecast said. Revenue from tourism generated €2.68 bln in 2019, down 1% from the previous year, bolstered by record arrivals of 3.97 million. “Cyprus was on a solid
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The UN is seeking clarity as to why Turkish Cypriot authorities have imposed new restrictions at crossing points which dictate that people need to provide a COVID-19 negative test every 72 hours if they want to cross. The UN peacekeeping force in Cyprus (UNFICYP) is engaging with authorities in the north to clarify the situation
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The European People’s Party, the largest political group in the Euro parliament, is calling for a 50% cut in shipping emissions by integrating them into the existing EU Emissions Trading System (ETS), if an impact assessment shows that this works. “Cutting emissions to net zero by 2050 in Europe is ambitious and challenging. This is
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Cyprus said it will tap two existing bonds maturing in 2024 and 2040 for a minimum amount of €500 mln in a bid to replace more expensive debt expiring by end-2020 with cheaper debt. Cyprus rated BBB- (stable) by Standard and Poor`s, Ba2 (positive) by Moody’s, BBB- (stable) by Fitch and BBBL (stable) by DBRS,
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Cyprus reported another new coronavirus case on Monday, a Cypriot who tested positive on returning from the USA. The COVID-19 case was detected from 557 tests on repatriated Cypriots and other passengers arriving at the island’s airports. The case involves a Cypriot who returned to the island from the USA, via Germany on 4 July
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