Cyprus’ economy is in need of oxygen and the necessary political consensus to support business during the coronavirus pandemic said Finance Minister Constantinos Petrides. Petrides held consultations on Monday via teleconference with the parliamentary committee of financial and budgetary affairs on four bills drafted to support the Cypriot economy. He said the discussion took place
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Close contact with other people poses a risk of transmitting coronavirus and not going to the beach, lecturer of infection prevention at the European University, Constantinos Tsioutis told CNA. He underlined the virus is quite sensitive to environmental conditions such as high temperatures and cannot survive for more than a few minutes. As the hot
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Cyprus is preparing to reopen the country’s airports in mid-June but under certain conditions for entry, said Transport Minister Yiannis Karousos. In comments to Sigma TV, the Transport Minister said his Ministry is currently preparing a roadmap as to how and when the airports are to open their gates once more to welcome tourists back
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University of Cyprus economists expect the country’s coronavirus-stricken economy to shrink by 6.9% of GDP in 2020 under a baseline scenario and contract 13.1% under more adverse conditions. UCY Economics Research Centre in its May outlook said economic activity will shrink significantly this year as a result of the COVID-19 pandemic. Real GDP is projected
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Air traffic over Cyprus has dropped by 83% year-on-year, due to the impact of COVID-19 on aviation, according to Eurocontrol, the umbrella organisation for 41 national air traffic control agencies. Acting as a network manager for aviation traffic across the whole of Europe, Eurocontrol generated animated videos of flights over specific regions, including the Nicosia
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Some 10,000 final year high school students returned to class on Monday under strict health guidelines after staying home for two months due to the COVID-19 Cyprus lockdown. The rest of the school years are to return to class on 21 May but parents, teachers and students are not convinced it is the right move.
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Corruption risks tend to increase in times of crisis, especially when institutions and surveillance are weak while public confidence is low, according to a study by the Cyprus Integrity Forum (CIF). According to the study, during crises, such as the deadly Coronavirus outbreak, the risk of corruption in healthcare is exacerbated by the dramatically increased
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By Hussein Sayed, Chief Market Strategist at FXTM Investors in Asia kicked off the week in an upbeat mood, with most major equity indices trading in positive territory. The upside momentum seems to be a continuation from Friday’s Wall Street session which saw the S&P 500 adding 1.7% and the Nasdaq Composite erasing all losses
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Eurivex Trade Finance Ltd (ETFL), the alternate funding provider through invoice discounting, is providing small-to-medium sized enterprises (SMEs) protection for 90% of all invoices issued on credit. As thousands of SMEs gradually resume operations following the lifting of government restrictions due to the Covid-19 pandemic, one of the critical issues confronting SMEs aside from health
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There is a tangible sense of free abandon among Cypriots after the easing of lockdown measures at the start of the week. As the winter darkness lifts, so has the mood of the nation with a feeling that the worst of it is over, now there’s the economy to worry about. Knowing that freedom of
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