The long-awaited €1.2 bln redevelopment of Larnaca port and its marina got the final green light from the government on Friday with construction scheduled for January 2022. Transport Minister Yiannis Karousos, in a written statement, said the cabinet approved the contract to be signed with the chosen consortium for one of the most important development
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Cyprus on Friday mourned the loss of three more people to COVID-19, as a surge in infections has seen nearly 30% of all deaths come in the last week. The Health Ministry confirmed the deaths of two men aged 85 and 72 – both with underlying health issues – and a 54-year-old woman with no
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Much to the embarrassment of the government, the decree to lockdown Paphos and Limassol, entailing a travel ban and curfew, had to be postponed until Friday noon while confusion abounds over the restrictions. A new set of measures to stem the spread of the coronavirus in the districts of Limassol and Paphos, deemed as the
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After the travel industry was ravaged by coronavirus, there will be more people seeking a Cyprus holiday next summer as, hopefully, the war against the pandemic will be won with a new vaccine. Savvas Perdios, Deputy Minister for Tourism, foresees “a battle” for tourism in 2021 as more people will be willing to travel to
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By Han Tan, Market Analyst at FXTM Asian stocks are mostly tracking Thursday’s declines on Wall Street, although US equity futures are flirting with gains in early Friday trading. This week, the VIX reached its lowest levels since August, while the futures returned to pre-pandemic levels. Meanwhile, volatility in the currency markets around the world
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The Defence Ministers of Greece, Israel and Cyprus have agreed to step up landmark military cooperation to keep their armed forces better prepared to maintain security in a volatile region. Israeli Defence Minister Benny Gantz said it was agreed during talks in Nicosia on Thursday to “promote large-scale industry cooperation that will bolster our defence
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There was a 36% year-over-year (YoY) increase in contactless transactions in Ireland, reaching $3.4 bln in Q3 2020, while the number of transaction surged 77% YoY to 182 mln, according to data analysed by Comprar Acciones. The global landscape is also thriving. In 2019, the total contactless payment transaction value was $1.06 trln and this
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By Panos Danos The Cyprus government and Nicosia Municipality should collaborate with the retailers and other traders in their efforts to promote the centre of the Cypriot capital and support its local market. This collaboration should include: Joint advertising initiatives with the use of proper promotional material Joint action with islandwide information stands Promotional events for Christmas, New
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Cyprus announced one more death on Thursday, an elderly man aged 86, with the total for all deaths directly attributed to COVID-19 rising to 34, as two towns went into partial lockdown. The average age for all deaths is 75 years, with just over two thirds in recent weeks from Limassol and Paphos, prompting the
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Limassol and Paphos hotels, bars and restaurants have sounded the alarm calling for more government support to keep coronavirus-struck businesses alive until the health crisis is over. Following the lockdown decision, the Limassol Chamber of Commerce and Industry expressed its “grave concern over the serious economic consequences that will arise as a result of the
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