Cyprus health authorities managed to report zero new coronavirus cases on Friday, after a run of single-digit daily infections. It was the eleventh time since the COVID-19 outbreak in March that zero cases were reported but Cyprus has not managed to stay there very long. Cyprus health authorities reported zero infections after conducting 1,059 tests
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Hellenic Bank, the island’s second-biggest lender that absorbed the ‘good bank’ operations of the troubled Cyprus Co-operative Bank, announced a first-quarter after-tax loss of €2.2 mln, with its pre-tax profits at €600,000. This was a significant turnaround from the €14.9 mln after-tax profits reported in the same quarter last year. Releasing its results, the bank
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One of the biggest challenges facing small to medium-sized enterprises (SMEs) is dealing with late payments and the risk that some of the trade debtors will not pay their outstanding balances, resulting in bad debts. In order to avoid excessive late payments or bad trade debts, the following simple steps should be applied: Check if
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While Cyprus hoteliers are pushing the authorities to set a specific date for the resumption of flights from Britain and Russia, another 40 hotels plan to open over the weekend. Less than 70 hotels, around 10%, had opened when restrictions were lifted on 9 June. Still uncertain over what the near future holds, as Cyprus
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Economic sentiment in Cyprus improved in June, rising by 2.3 points from May to 75.2, following the post-COVID-19 fallout when from the February level of 111.0, the indicator crashed to 98.9 in March and 77.0 in April. These were levels not seen since May 2013, when the Economic Sentiment Indicator (ESI-CypERC) compiled by the University
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By Han Tan, Market Analyst at FXTM US stock markets could see a massive spike in trading volume on Friday, as the Russell indexes reconstitution takes place. The once-a-year process involves adjusting the list of stocks that makes up the indexes, with an estimated $9 trln in assets linked to those benchmarks. This imminent restructuring
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Doctors in Cyprus will soon be able to treat COVID-19 patients with the antiviral drug, remdesivir, after the European Medicines Agency’s (EMA) endorsement put it on track to be the first therapy for the disease. The Cyprus Health Ministry endorsed the drug on Friday. The European Medicines Agency (EMA) said on Thursday its human medicines
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Police are investigating the possible gangland-related murder of a man shot on Thursday evening at his father’s home in the Larnaca village of Ormidhia. The victim, named as Panayiotis Kallitsionis, was a 29-year-old private security guard and was shot more than once shortly after 10 pm outside his father’s home. At around 11 pm on
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European Union foreign policy chief Josep Borrell said that illegal Turkish drilling for gas off divided Cyprus “must stop,” during his two-day visit to help deescalate tensions in the region. “Turkish illegal drillings must stop,” Borrell tweeted after meeting Cyprus Foreign Minister Nikos Christodoulides. The EU’s top diplomat said he had discussed with Christodoulides how
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By Andreas Theophanous Health conditions and economic circumstances in most third countries have been worse than those of EU countries even before the pandemic. One of the questions that arise is whether the EU could play a role in addressing these challenges. Some would argue that the EU should try to play a leading role
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