Nicosia has withdrawn a scheme for €1.5 bln in state-backed borrowing for businesses following disagreements with opposition parties, which sought numerous amendments that rendered it “unenforceable”. The scheme would have essentially provided state guarantees to cover loans with low interest to be given to coronavirus-struck businesses by banks. After two months of haggling, this has
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The British pound – this month’s worst-performing major currency – could “easily drop to $1.18” at the end of June, warned Nigel Green, CEO of financial advisory deVere, as the currency shed almost 4% against the U.S. dollar in May and 3% against the euro. “The pound is this year’s third-weakest major currency – just
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Uncertainty over when Cyprus airports will open and for which countries, UK-dependent Paphos hotels are unable to launch any sort of promotion campaign. Paphos hotels are suffering the most under lockdown imposed to stem the spread of coronavirus, as they are heavily dependent on tourists from the UK – the island’s largest market by far.
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Construction work to complete Ayia Napa Marina has resumed at a fast pace after COVID-19 lockdown while necessary buildings for its operation have already been delivered. Placing a great priority on the health and safety of its personnel, M.M. Makronisos Marina said it has taken all necessary measures to protect workers, adhering to all guidelines
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Iconic Greek American and founder of the American Hellenic Institute (AHI) Gene T. Rossides has died at the age of 92. Rossides was born in Brooklyn, New York, in 1927. His father was from Kyrenia, Cyprus, and his mother from Gytheion, Greece. He studied at Columbia University and he was a legendary quarterback for the
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Cyprus meteorological services have issued an orange warning for Tuesday as temperatures are expected to hit a maximum of 43 degrees Celsius as the blistering heatwave continues. Tuesday’s scorching 43 ̊C is expected to be recorded as the hottest day ever in May and the warmest day of the year so far. This follows Monday’s
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After two-months of bad hair days, the wait is nearly over among those desperate for a haircut with a visit to their hairdresser or barber included in the second stage out of lockdown on 21 May. Hairdressers and barbers are expected to have a busy couple of months when they open from Thursday as people
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As Cyprus prepares to move to the second stage out of lockdown, it has succeeded in containing new COVID-19 cases with only one case reported on Monday. The new infection takes the total of COVID-19 cases reported in Cyprus since the outbreak began on March 9 to 917 (including 12 in the British Bases). Daily
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Cyprus’ scorching heatwave is a secret weapon in the fight against the COVID-19 outbreak, said virus expert Dr Petros Karayiannis advising the government on how to beat coronavirus “I think the heatwave is on our side. Due to the high temperatures we have at the moment, even if someone is sick and sneezes, the droplets
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By Shavasb Bohdjalian With almost 3 million people infected by the COVID-19 coronavirus and close to 3 billion of the global workforce in full or partial closedown, companies, big and small, are now facing the bleak prospect of recovering their operations as restrictions are gradually lifted. Governments have rushed to provide stimulus packages to soften
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