Tourism Minister Savvas Perdios is optimistic Cyprus can prevent another disastrous year blighted by coronavirus, despite the island depending solely on the decisions of other countries. Cyprus tourism is in crisis as its two largest markets, the UK and Russia, have designated the island a no-go holiday destination until further notice. In comments to the
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By Demetris Georgiades It is in the nature of Fiscal Councils to be prudent and to advocate for fiscal discipline. But under the unprecedented pandemic, there was a consensus even amongst Fiscal Councils that drastic government intervention was needed. Such as fiscal measures to support households in need, preserve job positions, throw a lifeline to
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Cyprus reported one death attributed to COVID-19 on Friday, with hospitalisations in decline, and a marginal increase in new daily cases to 60. The health ministry said that a 30 year old man died at Nicosia General hospital, raising the death toll for June to 12 and the to-date figure to 372. Nine of the
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Unemployment in the first quarter reached 8.6% of the labour force, data released by the Cyprus Statistical Service (Cystat) show. The labour force amounted to 453,638 persons or 62.2% of the population (men 69%, women 55.9%) from 449,861 (62.5%) in the same quarter of last year. Those employed were 414,668, the employment rate 56.8% (men
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Annita Demetriou, the first woman to be elected Speaker of the House, called for cooperation and unity when she met President Nicos Anastasiades on Friday. Demetriou had her first meeting with President Anastasiades following her election the previous day. After her courtesy visit to the Presidential Palace, Demetriou said the government and parliament share the
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By Lukman Otunuga, Senior Research Analyst at FXTM After blockbuster US inflation numbers and the ECB avoiding taper talk, stock markets hit all-time highs in the US with large cap growth stocks outperforming all other sectors and bond yields touched three-month lows. Declining rates are a boon to interest rate sensitive stocks, like tech, and
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A demand to issue a temporary injunction order against the Cyprus health minister and the team of epidemiologists advising the government on handling the coronavirus outbreak has been dropped, the state’s legal service said on Friday. The lawsuit filed by 103 applicants challenged the legality and validity of the decrees imposed to restrict the spread
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The Cypriot economy will recover in 2021, albeit at a more moderate pace than the previous projections due to lockdown measures in January and April, the Cyprus Central Bank forecasts. The projections include upside deviations due to higher absorption of EU Recovery and Resilience Facility funds and possibly faster recovery of the tourism industry following
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Cyprus’ vaccination rollout is paying dividends as the overwhelming majority of new COVID-19 cases involve people who have yet to be vaccinated, according to the Health Ministry. Health Minister Constantinos Ioannou tweeted Friday that 95% of cases reported involved people who have not been vaccinated, while just 5% were vaccinated with at least one dose.
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Some 68 beaches in Cyprus have been awarded the quality Blue Flag, ranking the island the first worldwide for the density of high-standard beaches. Agriculture and Environment Minister Costas Kadis awarded blue flags to representatives of the local authorities to round off an excellent week for Cyprus resorts. Cyprus ranks first in Europe for the
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