The pandemic had a less severe impact on the Cyprus banking system’s capital adequacy in the second quarter of 2020, as banks front-loaded provisions from the beginning of the outbreak. According to consolidated data published by the Central Bank of Cyprus for Q2, the banking system’s CET1 capital declined marginally by €44 mln to €4.48
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Hours before Cyprus is to announce stricter measures to stem the coronavirus spike, health authorities on Wednesday announced the deaths of another three hospital patients with COVID-19. Cyprus has reported six deaths of COVID-19 patients in the past 48 hours. The three who died were a 92-year-old woman who was being treated at Famagusta General’s
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President Nicos Anastasiades on Wednesday evening will urge the nation to abide by new restrictions as tougher measures are announced to stop the spread of COVID-19. After the President’s televised address, Health Minister Constantinos Ioannou will announce the new measures decided on. While stricter measures across Cyprus are on the way, it is understood that
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Moody’s Investors Service affirmed all ratings and assessments of Bank of Cyprus and Hellenic Bank, including their long-term deposit ratings of B3. The outlook on both banks’ long-term deposit ratings remains positive. Moody’s said the banks’ ratings reflect their improved funding and liquidity profiles, and strengthened capital levels compared to a few years ago, counterbalanced
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Hundreds of Turkish Cypriots took to the streets to demonstrate against Turkey’s interference in the north, days before President Recep Tayyip Erdogan is to visit Varosha for a ‘picnic’. Tuesday night revived memories of the large demonstrations in 2003 in support of a UN reunification plan for Cyprus. Back in 2003 some 70,000 Turkish Cypriots
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Later on Wednesday, the cabinet is expected to announce local lockdowns for Limassol and Paphos where the spike in COVID-19 cases is highest rather than going for a total shutdown as in March. To finalise what additional measures to introduce, President Nicos Anastasiades on Tuesday met government ministers responsible for handling the COVID-19 crisis. Statements
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The top ten royal families in the world control a fortune of $2.45 trln, according to their as calculated by BuyShares based on their wealth in Q3 2020. Saudi Arabia’s House of Saud is the wealthiest royal family in the world with a fortune of $1.4 trln. Kuwait’s House of Al Sabah ranks second with
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Cyprus reported 198 new cases of SARS-CoV-2 on Tuesday, the fifth highest rate in the last month and since the pandemic started, with the number of infections to date totalling 6,296. The health ministry announced earlier in the day that three elderly people being treated for Covid-19 had died, raising the death toll to 38
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Commonwealth member states expressed “deep concern” over the illegal opening of the beach-front in Varosha last month, the fenced-off part of Turkish occupied Famagusta. Cyprus Foreign Affairs Minister Nikos Christodoulides briefed his Commonwealth counterparts on the situation of Varosha, an abandoned Greek Cypriot resort left empty for 46 years. The statement of the Commonwealth Foreign
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As Cyprus braces itself for stricter measures, health authorities announced the deaths of another three hospital patients who were being treated with COVID-19. All three, two women and a man were being treated at Famagusta General’s Acute Care Unit. The deaths of the two women, aged 86 and 80, were attributed directly to COVID-19 while
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