Cyprus has appealed to international and local lenders to borrow an additional €3 bln to cover financing needs created by the fiscal impact of the COVID-19 pandemic at a higher cost than previous bond issues. The Treasury has issued two new benchmark-sized Euro Medium-Term Notes for a total amount of €1.75 bln, adding to the
More
Cyprus’ coronavirus outbreak has highlighted the importance of maintaining high-standard public hospitals, properly equipped to handle crises such as the COVID-19 pandemic, argues former health minister Stavros Malas. “The state should draw its lessons from the pandemic and build up the capacity of public hospitals so that they are able to fulfil their role as
More
By Panos Danos Supply-side in recent years saw an increasing pipeline of high-priced residences come to the market with values derived primarily from the Cyprus Passport Scheme benefits rather than any Real Economy market drivers. The main bulk of buyers for these passport properties have been Russian and Chinese citizens but demand has waned increasingly over the
More
Cyprus reported another 31 confirmed cases of COVID-19 on Friday as infections remain relatively high for the island’s size taking the total to 595 since the outbreak last month. COVID-19 cases dropped to 31 after being on the rise for three consecutive days, Thursday saw 38 new cases, rising from 32 on Wednesday, 29 on
More
Cyprus’ Supreme Court on Friday ruled that cuts imposed on the pay and pensions of civil servants during the 2013 financial crisis were legal, ensuring the government avoided being bankrupted. This decision, taken by the majority of the bench, upheld an appeal submitted by the attorney general against a lower court ruling in March last
More
By Ryan Sweet – Moody’s Analytics The Federal Reserve on Thursday rolled out additional actions in an effort to stabilise financial markets and be sure liquidity problems do not morph into insolvency issues. The Fed announced that it will provide $2.3 trln in loans aimed at supporting businesses and households as well as state and
More
The United Nations Peacekeeping Force in Cyprus (UNFICYP) on Friday confirmed its first case of coronavirus among its Blue Berets monitoring the divided island’s ceasefire line. “The patient reported mild symptoms and was isolated immediately after testing positive for COVID-19,” a UN statement said. “The individual is now being closely monitored by medical staff and
More
Cyprus has gone on the offensive in its fight to beat the spread of the coronavirus as it launches a campaign to conduct 20,000 COVID-19 tests for frontline workers from Saturday. Alarmed over the high rate of asymptomatic cases (20%), Cyprus health services are launching a mass testing campaign in an effort to identify possibly
More
The Cyprus Shipping Chamber, whose members employ up to 60,000 seafarers onboard their vessels around the world, has joined a global appeal to G20 leaders to facilitate crew changes and safeguard access to healthcare onshore to these ‘unseen heroes’ of world trade. The CSC said it fully supports the message from the International Chamber of
More
Cyprus aims to help hundreds of farmers affected financially by the COVID-19 crisis to export kosher sheep and goat meat to Israel during the health emergency. According to a bill submitted to parliament, it amends the existing law to allow slaughtering animals in accordance with traditional Jewish practice (kosher) and the possibilities provided by EU
More
