The European Investment Bank (EIB) has approved €150 mln to fund the landmark construction of a terminal to enable the import of liquefied natural gas (LNG) in Cyprus. Cyprus’ natural gas company (DEFA) announced that the project will be implemented by Natural Gas Infrastructure Company (ETYFA). The EIB loan has a duration of 20 years
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Cyprus tourism received a set-back after health authorities demoted Israel from its low-risk country status, meaning Israelis are not exempt from coronavirus test rules, officials said. After assessing epidemiological data, Cypriot health authorities put Israel in a higher risk category which means tourists must take a coronavirus test before arriving. This stipulation was to be
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“Cash is king” is a phrase according to which money (cash) is more valuable than any other form of investment tool. According to Investopedia, this trusted phrase also refers to the cash flow of a business; meaning strong cash flow allows a company more flexibility in regards to business decisions and potential investments. A company
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Keeping a lid on COVID-19 infections, Cyprus confirmed just one new coronavirus case on Thursday from an above-average 2,518 tests. The Health Ministry said the new case involving a person who was being treated at a private clinic for other health issues and was tested privately. The Ministry noted that the person had been repatriated
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Peace activists demanded on Thursday that Cypriot leaders order the immediate reopening of all crossing points to allow free movement across Cyprus’ divide as lockdown eases. Bi-communal Peace Initiative-United Cyprus sent a message to Cyprus President Nicos Anastasiades and Turkish Cypriot leader Mustafa Akinci urging them to reopen crossing points closed since the coronavirus outbreak
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After reviewing epidemiological data, Cyprus has relegated Israel from the Category A list of countries allowed entry and promoted Switzerland, Czech Republic as low-risk COVID-19 nations. Cyprus has reassessed coronavirus statistics to update the countries from which tourists are allowed entry with or without a health certificate after June 19. From an initial 19 countries
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A Cypriot scientist is behind a new, simple to use, coronavirus lab-free test which returns results in just over an hour, hailed as a valuable tool in the UK’s battle against the pandemic. The test was developed by one of the most accredited researchers in biomedics, British Cypriot Regius Professor of Engineering at London’s Imperial
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Cyprus has prepared a €6.3 mln incentive scheme to boost its flight connectivity by attracting more airlines after lifting COVID-19 travel restrictions. The government has decided to push forward with a six-month scheme aiming to encourage airlines to put Cyprus on their flight schedule, especially from countries where connectivity should be better such as France,
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By Hussein Sayed, Chief Market Strategist at FXTM For the past several weeks, we have been arguing that the performance of risk assets are in total disconnect with economic and corporate fundamentals. The enormous addition of money supply through fiscal and monetary authorities has been the key driver for stock markets and in the US,
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Europe’s human trafficking watchdog has voiced concern over Cyprus’ failure to grant free legal aid and expertise to victims during criminal proceedings. In its third evaluation on Cyprus, the Council of Europe’s Group of Experts on Action against Trafficking in Human Beings (GRETA) heralded Nicosia’s tougher penalties for human trafficking and criminalizing the use of
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