Cyprus is the first EU member-state to benefit from low-cost financing of €479 mln from the SURE facility to protect the labour market from the adverse impact of the coronavirus pandemic, the Finance Ministry said. In a statement on SURE’s (Support to mitigate Unemployment Risks in an Emergency) first disbursement to Cyprus of €250 mln, the Ministry
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Cyprus is putting its money on a mass testing strategy employing rapid tests, as Health Minister Constantinos Ioannou seeks approval to acquire another 300,000 rapid test kits, following the first 200,000 batch already received. Ioannou did not get the opportunity to present his proposal to the cabinet as it was called off Thursday after Agriculture
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The government went into lockdown Thursday with a cabinet meeting cancelled after Agriculture Minister Costas Kadis contracted COVID-19 with two other ministers self-isolating. Kadis is also self-isolating, continuing to work from home. Following Kadis’ announcement on Twitter, all members of the cabinet will be tested for the coronavirus on Thursday. Transport Minister Yiannis Karousos and
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Vaccinations against the new coronavirus in Cyprus will begin most probably in February and be completed at the beginning of the summer, a local expert believes. “Based on the information we have, I estimate that vaccinations will start around February, but they will not be vaccinations for the general population,” Assistant Professor of Pharmacology at
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By Hussein Sayed, Chief Market Strategist at FXTM Stock markets are forward-looking by nature. Investors evaluate a company’s price today based on reasonable expectations about its future earnings and cashflows. That’s where the ‘discounting mechanism’ term is derived from as stocks tend to discount as much upcoming news and events as possible. The latest bout
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Russian low-cost carrier Pobeda, a subsidiary of the Aeroflot Group, announced it will resume a weekly flight connecting Larnaca with Moscow from December 4. Pobeda said that from next month it will launch Cyprus flights to and from Moscow every Friday. The airline said that at the beginning of its seat sale more than 1,500 tickets
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A 75-year-old man died at the Covid-referral clinic of Famagusta General hospital on Wednesday, raising the death toll to 41, as Cyprus announced 198 new cases of SARS-CoV-2. The health ministry said it conducted 7,049 tests, some 1,840 less than Tuesday when the infection rate topped 228. This raises the total since the pandemic
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Cyprus is still experiencing excessive macroeconomic imbalances, involving a very high share of non-performing loans burdening banks and high private, government, and external debt, the European Commission said Wednesday. This view is expressed in the Cyprus chapter of the “alert Mechanism Report for 2021”, prepared by the Commission for the prevention and correction of macroeconomic
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Cyprus police on Wednesday said they arrested the owners and illegal migrants working at two Cyprus abattoirs where COVID-19 was found. Arrests were made at two Nicosia meat processing plants where COVID was detected among staff, some of which were undeclared or employed illegally. In the wake of the Cypra meat processing plant scandal, where
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Paphos hospitality and leisure businesses, along with their Limassol counterparts, are feeling the brunt of the lockdown to tackle coronavirus. Local lockdowns, an early night-time curfew (8 pm-5 am), coupled with limited air connectivity due to the worsening situation in Europe have forced tourism stakeholders to bring the curtain down on 2020. In comments to
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