A Cyprus-Greece passenger ferry link is one step closer to being reinstated after a 20-year absence, as Nicosia announced the tender will be launched in December for the route to operate next summer. In comments to the Cyprus News Agency on Friday, Deputy Minister of Shipping, Vasilis Demetriades said that the open European tender is
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Lockdown measures seem to be working in Paphos and Limassol but accumulated coronavirus cases across the island have increased as the virus load reaches new heights, especially in the capital. Cyprus’ epidemiological data has deteriorated to a 14-day cumulative rate of 270.1 COVID-19 cases per 100,000 population, up from 247.5 (November 8), and 207.9 (October
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By Han Tan, Market Analyst at FXTM US stocks are set to end the week on a downer, as Treasury Secretary Steven Mnuchin and Fed Chair Jerome Powell engage in a public disagreement over how US stimulus funds should be deployed. Mnuchin had asked for the unused $455 bln from the Federal Reserve’s emergency pandemic
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Tackling non-performing loans (NPLs) remain at the heart of economic policy with a stable legal framework on foreclosures and an effective insolvency process, the Finance Ministry said. It said there was “enormous importance of having a stable legal framework, which governs out-of-court physical and digital auctions along with the existence of an effective insolvency framework,
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Greek Foreign Minister Nikos Dendias denounced Sunday’s visit by Turkish President Recep Tayyip Erdogan to fenced-off Varosha calling it an insult to all Cypriots. Speaking at the EU Foreign Affairs Council, held on Thursday via a videoconference, Dendias said the fenced-off town “is not the place for a picnic”. “This action constitutes an insult to
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Cyprus Health Ministry announced it is continuing a free rapid testing program by expanding testing points to 16 while turning its focus on the capital Nicosia from Friday. The program, launched on Monday, to help health authorities identify the extent to which the virus has spread in the community had focused on COVID hotspots Paphos
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Cyprus COVID-19 cases spiked to 268 on Thursday with a record 12,363 tests conducted on a single day, half of which were the free antigen rapid tests held throughout the country that got underway at the start of the week. The conventional testing method using the more accurate PCR system produced 226 positive cases of
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Cyprus banks lag behind the EU on time needed to recover defaulted loans in residential real estate (RRE) and consumer debt, a European Banking Authority (EBA) report reveals. According to a report on the benchmarking of national loan enforcement frameworks across the bloc, time to recovery of an RRE defaulted loan is twice the EU
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A Cyprus-Israel joint three-day military exercise codenamed ONISILOS-GIDEON was completed Thursday with absolute success, the Defence Ministry said. The exercise falls under the Bilateral Defence Cooperation Program between the Republic of Cyprus and Israel. Manoeuvres involved Israeli combat aircraft F-35s flying over Cyprus for the first time during the exercise with the Republic’s armed forces
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Cyprus’ Health Ministry said on Thursday that good news from pharmaceutical firms engaging in a race against time to develop a coronavirus vaccine is a reason to feel encouraged with a vaccination plan already drafted. Several companies have announced they are entering the final stages of clinical trials, which are to be completed soon with
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