The Turkish Lira hit an unprecedented low against the euro during the week with ECB reporting a closing price of one euro to 8.90 Turkish Lira while trading platform xe.com recorded a low of 8.97 on Friday. This is the lowest the Turkish Lira has reached since its introduction in January 2015 when it replaced
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By Dr Andrestinos N. Papadopoulos (Ambassador a.h.) The coincidence of the visit to Cyprus of Russian Foreign Minister Sergey Lavrov, on September 8, with the 60th anniversary of establishing diplomatic relations between Nicosia and Moscow acquires a symbolic meaning for two reasons. First, because the relations of the two peoples are based on a traditional
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Cyprus health authorities announced another seven new cases of SARS-CoV-2 on Friday with three of them connected to two known clusters in Larnaca. The new cases take the total for the Republic of Cyprus to 1,565, following some 3,035 tests for Covid-19 in the last 24 hours. Health Ministry officials said that three of the
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EuroAfrica Interconnector, developer of the 498km Egypt-Cyprus ‘electricity highway’, is a step closer to implementation and keeping its December 2023 timeframe, after receiving binding bids from two leading global cable suppliers for the high-voltage subsea interconnection. This follows the recent announcement that Siemens will build the HVDC converter stations, having secured the final building permit
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Brussels must be ready to activate all its tools including sanctions against Turkey, in response to Ankara’s aggression in the Eastern Mediterranean, France’s visiting Europe Minister Clément Beaune said Friday. After meeting Cyprus Foreign Minister Nikos Christodoulides, Βeaune said his country fully supports Nicosia which is calling for tougher EU action if Turkey refuses to
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By Zacharias Kapsis The European Commission has decided the maritime passenger route between Cyprus and Greece is a general economic interest service under current EU rules and can thus be supported with state/government funds. After months of discussions with the EU’s DG Competition, that started in July 2019, the Shipping Deputy Ministry managed to secure
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Scores of high-school students in Nicosia and Famagusta district have been placed in quarantine along with their parents after a music teacher tested positive to coronavirus, it emerged on Friday. The case was among 10 announced on Thursday. The teacher had come into contact with a previously confirmed case which is reportedly part of a
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Turkish Cypriot health authorities are making progress in bringing down daily cases of COVID-19 after imposing travel restrictions and lockdown measures. Turkish Cypriots were struggling to contain cases since they spiralled out of control in September, as infections reached 320 with a daily average of 19 cases this month. Cases reached their peak on 8
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The Royal Navy and Cyprus’ National Guard conducted their first naval passing exercise under the name “CYP/UK 2020”. The exercise was carried out in the context of the presence in the region of the Offshore Patrol Vessel (PATH) OPV HMS Trent (P-224) of the Royal Navy. The PASSEX is the first exercise between Cyprus forces
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Moody’s Investors Service has downgraded the ratings on eight non-financial corporates in Turkey and maintained the negative rating outlooks, following an avalanche of rating cuts that kicked off with the downgrade of Turkey’s government bond ratings to B2 from B1 last Friday. The rating agency said that the downgrades “follow the weakening of the Turkish
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