Cyprus shipping has proved resilient in the pandemic with the industry aiming to grow at pace in the future harnessed by technology and sustainability, Deputy Minister for shipping Vassilis Demetriades said. Presenting his ministry’s 2021 budget to the parliamentary committee for finance and budgetary affairs, Demetriades said shipping has immense potential. He said approval of
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Cyprus tourism revenue for the first 9 months of the year dived 86% from the same period in 2019 due to travel restrictions caused by the pandemic. A mixture of national lockdowns, quarantine and travel restrictions has decimated the island’s tourism industry which generated €2.68 bln last year on record 3.97 million tourist arrivals. In
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Cyprus airports operator Hermes Airports in a strategy to reduce its carbon footprint has provided its staff with eco-friendly items for everyday use. As part of its Green commitment, the company said it has issued staff with a tote bag, a reusable thermos, a reusable bottle and two stainless steel straws to help minimize their
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UN special envoy, Jane Holl Lute will hold separate meetings across the island’s divide with Cypriot leaders to see if there is a window of opportunity to resume moribund Cyprus peace talks. On Tuesday, Lute will hold talks with Cyprus President Nicos Anastasiades, and Turkish Cypriot leader Ersin Tatar before departing for Athens. Lute is
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Moderate and uneven economic recoveries amid the coronavirus pandemic as well as political and trade uncertainties pose risks for financial institutions in emerging markets throughout Asia, Latin America, Europe, the Middle East and Africa in 2021, Moody’s Investors Service said in a new report. The outlook for banks is negative, while insurers are more stable,
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With digital transformation key to fostering sustainable economic growth by providing effective and efficient services to the public and businesses, Britain has agreed to help Cyprus strengthen its performance in this field. The Deputy Ministry of Research, Innovation and Digital Policy and the UK’s Government Digital Service (GDS) on Monday signed a Memorandum of Understanding
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By Hussein Sayed, Chief Market Strategist at FXTM Crude oil futures were trading lower Monday morning as market participants closely watched OPEC members and their allies begin a two-day meeting to discuss their next steps in production policy. Brent and WTI January contracts rallied more than 7% last week and have risen by more than
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Cyprus’ Met Office Monday issued a yellow alert warning of stormy weather and heavy rainfall across the island lasting until early evening. The yellow warning was issued until 5 pm for isolated thunderstorms, mainly on the coast with heavy rain that could exceed 35 mm per hour causing flash floods. There is a possibility of
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Emergency measures to curb the second wave of COVID-19 come into effect Monday across Cyprus with the lifting of local lockdowns replaced by an islandwide eight-hour curfew from 9 pm. These measures will last until December 13 as long as the situation improves, otherwise, they could stay or become tougher. Movement is prohibited from 9
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Initial public offerings (IPOs) saw the most active third quarter in the last 20 years by proceeds, and the second highest third quarter by deal numbers, as travel slowed, work from home and the markets were awash in liquidity, according to the latest EY quarterly market report. Year-to-date, IPO activity accelerated in Q3 2020, resulting
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